Khazanah 3 rd Exchangeable Sukuk

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Khazanah 3 rd Exchangeable Sukuk"

Transcription

1 Hong Kong Showcase on Islamic Finance Khazanah 3 rd Exchangeable Sukuk Muzaffar Hisham Deputy Chief Executive Officer CIMB Islamic Bank

2 Khazanah s Re-create New Silk Road USD647 million raised through a combined offering of USD550 million exchangeable Sukuk and USD97 million stock placement Transactions priced at the tightest ends despite unprecedented turbulent markets. The Sukuk was over-subscribed by 10 times, reflecting strong demand for quality Malaysian credit The first Sukuk that offers Islamic investors exposure to China s growth story, continuing the innovations in structured Islamic financial products Khazanah s initial investment in Parkson is monetised at over 900% its cost. 2

3 Managing Director of Khazanah, Dato Azman Mokhtar said: The transaction is a wonderful testament of Malaysia s and Khazanah s credit and economic fundamentals at a turbulent time in the markets when many countries and companies are afraid of tapping the international market. Deals are being pulled out there and we have entered instead and the strong terms and 10 times oversubscription could not be a stronger endorsement The deal also further promotes Malaysia s position as a leading developer and innovator in Islamic finance and interestingly, among others, this transaction can be said to recreate a New Silk Road by linking China and the Middle East, via Malaysia, of course, 3

4 Marketing to Targeted Middle Eastern/Islamic Investors Targeted pre-marketing and management roadshow, focused on: Key accounts who have participated in the previous Exchangeable Sukuks Greater focus on locations with stronger interest, i.e. Dubai, Abu Dhabi, Saudi and Kuwait BAHRAIN CIMB Kanoo Bahrain Pension Fund Bahrain Islamic Bank QATAR Masref Al-Rayan Doha Bank KUWAIT Kuwait Finance House Global Investment House UAE Dubai Islamic Bank Millenium Cap Emirates NBD Group Mashreqbank/ Al-Badr Noor Islamic Bank Standard Chartered DIFC Dubai First Gulf Bank National Bank of Abu Dhabi Shuaa Capital Sharjah Islamic First Gulf Bank SAUDI Islamic Development Bank Jadwa Public Investment Funds Al-Bilad Saudi Hollandi SEDCO NON-ME ISLAMIC AM Investment European Islamic Investment Bank Optimum Pembroke Capital Islamic Bank of Asia 4

5 Groundbreaking Landmark Sukuk Key Highlights First Exchangeable Sukuk launched concurrent with a block trade on overnight accelerated bookbuilding and First International Islamic Zero Periodic Payment exchangeable/sukuk First Exchangeable Sukuk to use listed shares in HK as the exchange property and underlying assets Second equity-linked transaction out of Malaysia in 2008 Malaysian equity-linked transaction Index Issuer Year Size (US$'m) 1 Khazanah Islamic EB into PLUS Khazanah Islamic EB into TM IOI Corporation Khazanah Islamic EB into Parkson Khazanah Conventional EB into PLUS Tenaga Nasional IOI Corp Telekom Malaysia IOI Corp Genting EB into Resorts World High over-subscription rate of 10 times the deal size of US$550 million 5

6 Priced at the tightest end of the range - a record LIBOR Swap minus 220bps, lowest yield USD sukuk priced todate Generated strong interest from Middle East investors final allocation of 50% to Islamic investors Unique Features of the Transaction Innovative structure that accommodates share borrowing & lending Final sukuk represent only 1/3 tangible assets (shares), a far departure from the previous ones which are backed by 100% tangible assets Manager of the Trust Assets is an independent party ie not related to the Obligor. 6

7 Transaction Summary Zero Periodic Payment Exchangeable Trust Certificates Khazanah Nasional Berhad US$550,000,000 Zero Periodic Payment Exchangeable Trust Certificates Due 2013 Joint Bookrunner Joint Lead Manager CIMB 2008 Offering Summary Issuer: Paka Capital Ltd Obligor : Khazanah Nasional Berhad Underlying shares : Ordinary Shares of Parkson Retail Group Limited Issue Size : USD550 million Issue Date : 12 March 2007 Schedule Dissolution : 5 years (12 March 2013) Optional Dissolution : 3rd anniversary Issuer Call Option : After 3rd anniversary; subject to 130% hurdle Issue price : 100% Periodic Payment : 0.00% Yield-to-Scheduled Dissolution : 0.69% (annual) (3-yr USD swap rate minus 220bps) Optional Dissolution Amount : % Scheduled Dissolution Amount : % Reference Share Price : HKD71.00 (being the purchase price of Block Trade) Exchange premium : 37% above Initial Reference Share Price Structure : Accelerated Bookbuilding Listings : (1)Labuan Int l Financial Exchange & (2)Hong Kong Stock Exchange (3)Dubai International Financial Exchange Distribution : Reg S only; No sales into the United States, Canada, Japan or Malaysia (save to offshore companies and foreign offshore companies, both as defined under the Malaysian Offshore Companies Act,1990) 7

8 Execution Highlights Exchangeable Sukuk The Exchangeable Sukuk was completed within a compressed timeline. Bookbuilding was done on accelerated basis on 5 March Book was already half covered upon book opening and the Sukuk traded above par in the grey market even before the books had closed Books closed on 5 March 2008, 3 hours after book opening with a record subscription rate of 11x amidst challenging market conditions and priced at the tightest end of the range - a record LIBOR Swap minus 220bp at a premium of 37%, lowest yield USD sukuk priced todate Tight pricing was achieved despite weak Asian market, with the Hang Seng dropping 907 points from mid March till time of launch. First Exchangeable Sukuk which had an optional early dissolution at the 3rd anniversary and an avenue for hedging the equity option which was not available in the first two Exchangeable Sukuk. The book runners successfully distributed to an excellent mix of quality Middle Eastern and global investors. Allocation was equally split between Islamic and conventional accounts with favorable allocation towards Middle Eastern accounts, repeat convert buyers for Khazanah's previous issuances and real money accounts. Allocation to Middle Eastern/Islamic investors represented approximately 50% of the total issued, despite the transaction was executed on overnight accelerated bookbuild. The transaction received very positive media coverage. Finance Asia reported Strong Demand for Khazanah s third exchangeable Sukuk Investor Distribution US Offshore 11% Middle East 50% Asia 13% Europe 26% 8

9 Transaction Summary Block Trade Offering Summary Company: Parkson Retail Group Limited Vendor : Pangkor Investments (Cayman Islands) Limited Listing : Hong Kong Stock Exchange Khazanah Nasional Berhad US$97,000,000 Block Trade Joint Bookrunner CIMB 2008 Issue Size : 10,620,000 shares representing approximately 1.9% of total issued shares Bookbuilding Range : HKD70.00 HKD72.30 (representing approximately 5% - 8% discount to closing price of HKD76.10 as at 5 March 2008) Purchase Price : HKD71.00 (representing approximately 6.7% discount to closing price of HKD76.10 as at 5 March 2008) Bookbuilding Date : After market close, 5 March 2008 Structure : Accelerated bookbuilding 9

10 Execution Highlights Zero Periodic Payment Exchangeable Trust Certificates Third largest block trade in Hong Kong YTD Largest block trade of a foreign company by a Malaysian company in recent times US Offshore 3% Investor Distribution Book successfully covered despite investors not willing to risk order inflation due to concurrent delta placement of an indeterminate size orders reflective of real demand Orders came in despite current share price being lower than the earlier block trade in Jan 2008 at HKD Large placement size if compared to average daily turnover volume approximately 12 times Europe 32% Asia 65% 10

11 Challenging Market Conditions The transaction was completed amidst challenging and volatile market conditions. Tight pricing was achieved behind a backdrop of weak Asian equity Indices and Parkson Intra-Day Share Performance (3 Mar'08-5 Mar'08) Source: Bloomberg Hang Seng Intra-Day Index Performance (3 Mar'08-5 Mar'08) Source: Bloomberg Volume 100,000 80,000 Volume Closing Price HKD ,000 23,500 Traded Price 60, ,000 23,000 20, Mar-08 0-Jan-00 4-Mar-08 5-Mar ,500 3-Mar-08 0-Jan-00 4-Mar-08 5-Mar-08 Parkson 1-Year Share Price Volatility Source: Bloomberg 65 3-Year Intra-Day USD Swap Rate (3 Mar 08 5 Mar 08) Source: Bloomberg Volatility 260d Volatility 90d yr USD Sw ap Volatility % Mar-07 May-07 Jul-07 Sep-07 Nov-07 Jan-08 Mar Jan-00 4-Mar-08 5-Mar-08 11

12 Press Coverage on the Offering Strong demand for Khazanah s third exchangeable Sukuk Finance Asia 6 March 2008 Another difference versus the previous two bonds was that the deal was launched and priced on the same night. In fact the books were open for only three hours after the close of the Malaysian market, compared with five days of bookbuilding for the other two transactions. The limited offer period was clearly enough though, since both portions of the deal were covered after just one hour. By choosing an underlying stock that is listed outside Malaysia, Khazanah was also able for the first time to introduce the possibility of hedging the equity option. Khazanah sells stake Parkson Retail Bloomberg 6 March 2008 PAKA Capital Ltd and Khazanah Nasional Bhd are selling a stake worth as much as HK$578.4 million (US$74 million) in Parkson Retail Group Ltd, a Beijing-based department store chain. Parkson.s shares more than doubled in 2007 as the company lured more shoppers to its store in China, the world.s fastestgrowing major economy. The retailer, which has 41 stores in 26 Chinese cities, posted a 47 per cent gain in 2007 annual profit to 676 million yuan. The fact that investors can short-sell the stock is likely to have factored in the decision against an extended marketing period, as that would have increased the pricing risk. The premium was fixed at the top of the 32% to 37% range, while the yield was also set at the most favourable end for the issuer at 0.69%. It was offered in a range up to 1.39%. According to sources, the bonds attracted about $6 billion of demand, or more than 10 times the final size. There was no definitive breakdown of either demand or the final distribution, but one source says the allocation to Middle Eastern accounts was approaching similar levels to the previous Khazanah sukuk exchangeable when they walked away with about 50%. The demand from these accounts was said to have been almost enough to cover the entire deal. Khazanah Nasional To Sell Parkson Stake South China Morning Post 6 March 2008 "Orders for both tranches were well covered three hours after they were launched for Asian investors although the book will stay open for the European market," a source said. "Half of the orders were placed by long funds (those with only long positions on shares) while the remainder came from hedge funds and private investors." 12

13 USD850 Million Periodic Payment Exchangeable Trust Certificates Khazanah Nasional Berhad US$850,000,000 Periodic Payment Exchangeable Trust Certificates Due 2012 Joint Bookrunner Joint Lead Manager CIMB 2007 Offering Summary Issuer: Cherating Capital Limited Obligor : Khazanah Nasional Berhad Underlying shares : Ordinary Shares of PLUS Expressways Berhad Issue Size : USD600 million Increase Option : USD250 million (exercised) Issue Date : 5 July 2007 Maturity : 5 years (5 July 2012) Issuer Call Option : After 3rd anniversary; subject to 130% hurdle Issue price : 100% Periodic Payments : 2.00% per annum Yield-to-Scheduled Dissolution : 4.58% (annual) Scheduled Dissolution Amount : % Initial Reference : MYR (VWAP at June 27 Share Price 2007) Exchange premium : 23% above Initial Reference Share Price Initial Exchange Price : MYR per share (based on a fixed exchange rate) Listings : (1) Labuan Int l Financial Exchange (2) Hong Kong Stock Exchange (3) Dubai Int l Financial Exchange Distribution : Reg S only; No sales into the United States, Canada, Japan or Malaysia (unless to Non- Residents) Investor distribution Execution Highlights The Islamic Exchangeable Sukuk was completed within a compressed timeline Bookbuilding commenced on 24 June Demand gained immediate momentum surge, leading to an order cap of USD60 million. The sukuks traded above par in the grey market even before the books had closed Books closed on 27 June 2007 with a record subscription rate of 13x and priced at the tightest end of the range - a record LIBOR Swap minus 90bps, lowest yield USD sukuk priced todate Tight pricing was achieved despite being priced one day before an FOMC meeting amidst an environment of volatile interest rates which had seen the LIBOR Swap rising some 70bps over a period of 6 weeks The bookrunners successfully distributed to an excellent mix of quality Middle Eastern investors and global investors. Allocation to Middle Eastern/Islamic investors represented approximately 50% of the total issued, a record Middle Eastern/Islamic participation in an equitylinked offering Largest equity-linked issue out of Malaysia, surpassing Khazanah s own USD750 mil Islamic Exchangeable Sukuk into Telekom Malaysia Berhad. It was also the third largest equity-linked issue out of Asia-Pac ex Japan/Aust YTD 2007 The transaction received very positive media coverage..finance Asia reported that the exchangeable sukuk is A Blow Out Success Other 10% Asia 18% Middle East & Islamic 50% Europe 22% 13

14 USD750 Million Exchangeable Trust Certificates Khazanah Nasional Berhad USD750,000,000 Periodic Payment Exchangeable Trust Certificates Due 2011 Joint Bookrunner Joint Lead Manager 2006 Offering Summary Issuer : Rafflesia Capital Limited Obligor : Khazanah Nasional Berhad Underlying shares : Ordinary Shares of RM1.00 par each of Telekom Malaysia listed on Bursa Malaysia Securities Berhad Issue Size : USD650 million Over-allotment Option : USD100 million (exercised) Issue Date : 4 October 2006 Maturity : 5 yrs (4 October 2011) Issuer Call Option : At end of yr 3 (5 October 2009) Issue price : 100% Periodic Payments : 1.25% Yield-to-Scheduled Dissolution : 5.07% (annual) Scheduled Dissolution Amount : % Exchange premium : 19% above Reference Share Price Initial Conversion Price : MYR10.85 per share (based on a fixed exchange rate) Initial Reference : MYR (VWAP at Sept 27 Share Price : 2006) Listings : (1) Labuan Int l Financial Exchange (2)Hong Kong Stock Exchange Distribution : Reg S only; No sales into the United States (or US persons), Malaysia (unless to Non- Residents). Execution Highlights Bookbuilding commenced on 21 Sept 06 (0800 hours) with initial size of USD500 million and upsized due to strong demand. Book closed on 27 Sept 2006 (1700 hours). Book was over 2x covered on opening day with little impact on TM s share price despite longer bookbuilding period. Subscription rate approx. 6x at price range and initial size of launch. Successfully distributed to excellent mix of quality investors from Middle East and global investors including financial institutions, asset managers, insurance companies, pension funds and high net worth individuals. Strong demand from Middle Eastern investors despite lack of familiarity with exchangeable instruments. Certificates immediately traded up after pricing. World s first Shariah-compliant exchangeable bond Investor Distribution by Region Middle East 27% Others 73% 14

ISLAMIC CAPITAL MARKETS

ISLAMIC CAPITAL MARKETS ISLAMIC CAPITAL MARKETS LEAGUE TABLES Q1 218 Q1 218 MANAGER RANKINGS ISLAMIC CAPITAL MARKETS The Bloomberg Capital Markets Tables represent the top arrangers, bookrunners and advisors across a broad array

More information

LABUAN IOFC - THE INVESTMENT ROUTE TO ASIA. LABUAN INTERNATIONAL FINANCIAL EXCHANGE The Way Forward From A Listing Sponsor s Perspective

LABUAN IOFC - THE INVESTMENT ROUTE TO ASIA. LABUAN INTERNATIONAL FINANCIAL EXCHANGE The Way Forward From A Listing Sponsor s Perspective LABUAN IOFC - THE INVESTMENT ROUTE TO ASIA 12 TH December 2006 Shangri-la Hotel, Kuala Lumpur LABUAN INTERNATIONAL FINANCIAL EXCHANGE The Way Forward From A Listing Sponsor s Perspective Presented by:

More information

ISLAMIC CAPITAL MARKETS

ISLAMIC CAPITAL MARKETS ISLAMIC CAPITAL MARKETS LEAGUE TABLES Q1 218 Preliminary As of 26 March 218 Q1 218 PRELIMINARY AS OF 26 MARCH 218 MANAGER RANKINGS ISLAMIC CAPITAL MARKETS The Bloomberg Capital Markets Tables represent

More information

Retail Sukuk and SRI Sukuk: The Malaysian Experience

Retail Sukuk and SRI Sukuk: The Malaysian Experience Retail Sukuk and SRI Sukuk: The Malaysian Experience RAFE HANEEF CEO, CIMB Islamic 1 st Annual Islamic Finance Conference, Jakarta 17 May 2016 Contents Section 1 History & Development of Sukuk Market in

More information

Market Information (as at 30 June 2008)

Market Information (as at 30 June 2008) Year Listed Instruments Withdrawn Instruments Market Information (as at 30 June 2008) Closed Ended Open Ended Islamic Conventional Total 2000 0 0 0 0 0 0 2001 1 0 0 0 250,000,000 250,000,000 2002 10 0

More information

Public Islamic Asia Leaders Equity Fund (PIALEF)

Public Islamic Asia Leaders Equity Fund (PIALEF) Fund Information Fund Name (PIALEF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long term period by investing mainly in stocks of companies

More information

Recent Developments in the Global Sukuk Market

Recent Developments in the Global Sukuk Market Recent Developments in the Global Sukuk Market Session 1: Recent Developments in the Global Sukuk Market Ijlal Ahmed Alvi Chief Executive Officer IIFM Total Domestic Sukuk $555.190 bio Total International

More information

Shamsun Anwar Hussain Director/ Head of Product Management, CIMB Islamic. Petronas A Back to Basics Approach on Sukuk Ijarah

Shamsun Anwar Hussain Director/ Head of Product Management, CIMB Islamic. Petronas A Back to Basics Approach on Sukuk Ijarah Shamsun Anwar Hussain Director/ Head of Product Management, CIMB Islamic Petronas A Back to Basics Approach on Sukuk Ijarah Contents Section 1 Section 2 Section 3 Section 4 Section 5 A gold standard in

More information

Sukuk Trends and listing on Stock Exchanges and Use of Sukuk/Islamic Securities as Collateral Current Status, Developments and Key Challenges

Sukuk Trends and listing on Stock Exchanges and Use of Sukuk/Islamic Securities as Collateral Current Status, Developments and Key Challenges Sukuk Trends and listing on Stock Exchanges and Use of Sukuk/Islamic Securities as Collateral Current Status, Developments and Key Challenges 11 th Meeting of the Organisation of Islamic Cooperation (OIC)

More information

LABUAN INTERNATIONAL FINANCIAL EXCHANGE INC (LL02032)

LABUAN INTERNATIONAL FINANCIAL EXCHANGE INC (LL02032) Market Information (As at 31 May 2010) Year Listed Instruments Withdrawn Instruments Closed Ended Open Ended % Islamic % Conventional % Total 2000 0 0 0 0 2001 1 0 0 0 0 0 250,000,000 100 250,000,000 2002

More information

The Current Prospects for Risk-Sharing Sukuk

The Current Prospects for Risk-Sharing Sukuk The Current Prospects for Risk-Sharing Presented by : Rafe Haneef, CEO of HSBC Amanah Malaysia Berhad Date : 11 September 2013 I. The Market Evolution of the International Market Stellar growth however

More information

Breakdown of Unitholdings of PIX as at 31 January 2018

Breakdown of Unitholdings of PIX as at 31 January 2018 Fund Information Fund Name (PIX) Fund Category Equity Fund Investment Objective To achieve long-term capital appreciation while at the same time attempting to outperform the FTSE Bursa Malaysia Top 100

More information

LABUAN INTERNATIONAL FINANCIAL EXCHANGE INC (LL02032)

LABUAN INTERNATIONAL FINANCIAL EXCHANGE INC (LL02032) Market Information (As at 28 February 2010) Year Listed Instruments Withdrawn Instruments Closed Ended Open Ended % Islamic % Conventional % Total 2000 0 0 0 0 2001 1 0 0 0 0 0 250,000,000 100 250,000,000

More information

Source : Lipper for Investment Management values.

Source : Lipper for Investment Management values. A-MYR (RETAIL) Objective 1 Year Growth Total Return from 31 January 2017 to 31 January 2018 Income Distribution growth through investments in Shariah-compliant securities that are Year 2017 Net (sen per

More information

GLOBAL PRIMARY SUKUK MARKET OUTPERFORMS IN 1H2014

GLOBAL PRIMARY SUKUK MARKET OUTPERFORMS IN 1H2014 Insights GLOBAL PRIMARY SUKUK MARKET OUTPERFORMS IN 1H2014 Global Primary Sukuk issuances have soared in 1H2014, with some notable events adding new opportunities to the sukuk marketplace. The world s

More information

SHARIAH PRONOUNCEMENT

SHARIAH PRONOUNCEMENT SHARIAH PRONOUNCEMENT In the name of Allah, the Most Gracious, the Most Merciful All praise is due to Allah, the Cherisher of the world, and peace and blessing upon The Prophet of Allah, on his family

More information

Monthly Review June 2018

Monthly Review June 2018 Manulife Investment Growth high 8.5 Growth / Equity 15 To provide Unit Holders with medium- to long-term capital growth through investments in a diversified portfolio of equities. 10 5 5 The is designed

More information

Monthly Review April 2018

Monthly Review April 2018 Manulife Investment Growth 8.2 high Growth / Equity 15 To provide Unit Holders with medium- to long-term capital growth through investments in a diversified portfolio of equities. 10 5-5 The is designed

More information

Source : Lipper for Investment Management values.

Source : Lipper for Investment Management values. A-MYR (RETAIL) Objective 1 Year Growth Total Return from 28 February 2017 to 28 February 2018 Income Distribution growth through investments in Shariah-compliant securities that are Year 2017 Net (sen

More information

FINAL TERMS. Noor Sukuk Company Ltd.

FINAL TERMS. Noor Sukuk Company Ltd. FINAL TERMS Noor Sukuk Company Ltd. Issue of U.S.$500,000,000 Trust Certificates due 2020 under the U.S.$3,000,000,000 Trust Certificate Issuance Programme PART A CONTRACTUAL TERMS Terms used herein shall

More information

INT N RO R DU D C U T C ION N T O G LOBA B L A I SLAM A IC C F INA N N A C N E

INT N RO R DU D C U T C ION N T O G LOBA B L A I SLAM A IC C F INA N N A C N E JUNE 2010 INTRODUCTION TO GLOBAL ISLAMIC FINANCE CONTENTS Contents Section 1 Overview of the Islamic Financial Market Section 2 The Potential of Islamic Finance in Asia Section 3 Islamic Finance in Thailand

More information

Malaysia Update. Yield Movements. Size and Composition

Malaysia Update. Yield Movements. Size and Composition Malaysia Update Yield Movements Malaysian government bond yields increased at the short-end of the curve between end- December 2009 and mid-february, while the middle and long-end of the curve remained

More information

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy Fund Information Fund Name (PISGIF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To seek capital growth and income by investing in a portfolio of Shariahcompliant growth and dividend

More information

Danga Capital Berhad

Danga Capital Berhad OFFERING CIRCULAR Danga Capital Berhad Company No. 835648-X (incorporated in Malaysia with limited liability under the Companies Act, 1965) S$600,000,000 Trust Certificates due 2015 S$900,000,000 Trust

More information

100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% Mar-12. Jun-12. Apr-12. Dec-11. Jan-12. May-12.

100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% Mar-12. Jun-12. Apr-12. Dec-11. Jan-12. May-12. Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14

More information

Bursa Malaysia Berhad

Bursa Malaysia Berhad Bursa Malaysia Berhad Invest Malaysia 2007, Kuala Lumpur Dato Yusli Mohamed Yusoff, CEO Nadzirah Abd Rashid, CFO 21-23 March 2007 Disclaimer The contents of this presentation include materials which may

More information

Asia s strongest brand in banking, banking the world s strongest economies

Asia s strongest brand in banking, banking the world s strongest economies Credit Suisse Investor Conference Peter Wong, Chief Executive, HSBC Asia-Pacific Asia s strongest brand in banking, banking the world s strongest economies 21 March 2011 www.hsbc.com Forward-looking statements

More information

ISLAMIC FINANCE INDUSTRY OUTPERFORMS IN 2013

ISLAMIC FINANCE INDUSTRY OUTPERFORMS IN 2013 The global Islamic finance industry has sustained impressive double-digit growth in 2013 despite challenging global economic conditions, such as the emerging markets funds outflows in the light of tapering

More information

FY2017 Financial Results Analyst & Media Briefing

FY2017 Financial Results Analyst & Media Briefing 5 February 2018 FY2017 Financial Results Analyst & Media Briefing Datuk Seri Tajuddin Atan Chief Executive Officer Rosidah Baharom Chief Financial Officer Agenda Key Financial Highlights & Market Performance

More information

TOTAL EQUITY AND LIABILITIES 500,926, ,766,887 31,358,494 31,258,271

TOTAL EQUITY AND LIABILITIES 500,926, ,766,887 31,358,494 31,258,271 CIMB GROUP HOLDINGS BERHAD (Company Number 50841-W) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE The Company 30 June 31 December 30 June 31 December Note

More information

Sukuk Market Overview & Structural Trends

Sukuk Market Overview & Structural Trends Sukuk Market Overview & Structural Trends IIFM Industry Seminar on Islamic Capital Market, Liquidity Management & Risk Mitigation Instruments Morning Pre-Conference Day Session, 19 th Annual World Islamic

More information

BURSA MALAYSIA BERHAD CIMB Corporate Day, London. 2 February 2007

BURSA MALAYSIA BERHAD CIMB Corporate Day, London. 2 February 2007 BURSA MALAYSIA BERHAD CIMB Corporate Day, London Dato Yusli Mohamed Yusoff,, CEO 2 February 2007 1 BURSA MALAYSIA TODAY IS A Must Have in Investment Portfolios 2 Market Velocity on the Increase Quarterly

More information

TOTAL EQUITY AND LIABILITIES 506,213, ,766,887 31,222,838 31,258,271

TOTAL EQUITY AND LIABILITIES 506,213, ,766,887 31,222,838 31,258,271 CIMB GROUP HOLDINGS BERHAD (Company Number 50841-W) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH The Company 31 March 31 December 31 March 31 December

More information

INFRASTRUCTURE SUKUK SOHAIL JAFFER DEPUTY CEO, FWU GLOBAL TAKAFUL SOLUTIONS 18 NOVEMBER Global Leader In Takaful Expertise

INFRASTRUCTURE SUKUK SOHAIL JAFFER DEPUTY CEO, FWU GLOBAL TAKAFUL SOLUTIONS 18 NOVEMBER Global Leader In Takaful Expertise INFRASTRUCTURE SUKUK SOHAIL JAFFER DEPUTY CEO, FWU GLOBAL TAKAFUL SOLUTIONS 18 NOVEMBER 2015 Global Leader In Takaful Expertise CONTENTS 1 SUKUK MARKET OVERVIEW 2 FINANCING INFRASTRUCTURE PROJECTS 3 FINANCING

More information

Malaysia. Yield Movements. Size and Composition

Malaysia. Yield Movements. Size and Composition Malaysia Yield Movements Malaysia s local currency (LCY) government bond yield curve slightly flattened between end-march and end-may, as yields dropped across the length of the curve, with the exception

More information

The Response of Islamic finance to the recession. 12 May 2009 Farmida Bi, Partner

The Response of Islamic finance to the recession. 12 May 2009 Farmida Bi, Partner The Response of Islamic finance to the recession 12 May 2009 Farmida Bi, Partner Islamic Finance: A different model September 2008 confidence Islamic banks had not invested in toxic assets, held actual

More information

Zamani Abdul Ghani: Malaysia s role as an international Islamic financial centre

Zamani Abdul Ghani: Malaysia s role as an international Islamic financial centre Zamani Abdul Ghani: Malaysia s role as an international Islamic financial centre Keynote address by Mr Zamani Abdul Ghani, Deputy Governor of the Central Bank of Malaysia, at the International Takaful

More information

Outlook and Strategy Hong Kong China Funds

Outlook and Strategy Hong Kong China Funds Q 208 Outlook and Strategy Hong Kong China Funds Investment Theme Mainland Stock Market Stabilises after Policy Impact Absorbed Mainland China s property sector rebounded as home prices stabilised. The

More information

Cagamas Berhad National Mortgage Corporation of Malaysia Corporate Bond Market in Malaysia : Issuer Perspective

Cagamas Berhad National Mortgage Corporation of Malaysia Corporate Bond Market in Malaysia : Issuer Perspective Cagamas Berhad National Mortgage Corporation of Malaysia Corporate Bond Market in Malaysia : Issuer Perspective HIGHLY RESTRICTED 1 Overview Section 1: Local Currency Bond Market Overview Section 2: Challenges

More information

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy Fund Information Fund Name (PIEMOF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth through investments in Shariah-compliant companies with mid and small market

More information

FUND FLOW REPORT MIDF EQUITY STRATEGY 3 JAN 2017 WEEK ENDED 30 DECEMBER 2016 FUND FLOW REPORT

FUND FLOW REPORT MIDF EQUITY STRATEGY 3 JAN 2017 WEEK ENDED 30 DECEMBER 2016 FUND FLOW REPORT MIDF AMANAH INVESTMENT BANK BERHAD FUND FLOW REPORT MIDF EQUITY STRATEGY 3 JAN 217 WEEK ENDED 3 DECEMBER 216 Summing up the year 216, Thailand, Indonesia and the United States had the highest annual gains

More information

FINAL TERMS. Dubai DOF Sukuk Limited

FINAL TERMS. Dubai DOF Sukuk Limited FINAL TERMS 29 April 2014 Dubai DOF Sukuk Limited Issue of U.S.$750,000,000 Trust Certificates due 2029 under the U.S.$6,000,000,000 Trust Certificate Issuance Programme PART A CONTRACTUAL TERMS Terms

More information

31 May 2014 NAV: SAR AUM: Million SAR Bloomberg: JADSEQT Reuters: LP Zawya: JADSAUD.MF

31 May 2014 NAV: SAR AUM: Million SAR Bloomberg: JADSEQT Reuters: LP Zawya: JADSAUD.MF Jun-07 Oct-07 Feb-08 Jun-08 Oct-08 Feb-09 Jun-09 Oct-09 Feb-10 Jun-10 Oct-10 Feb-11 Jun-11 Feb-12 Jun-12 Oct-12 Feb-13 Oct-13 Feb-14 Jadwa Saudi Equity 31 May 2014 NAV: 320.1035 SAR AUM: 291.01 Million

More information

Global Sukuk Market Trends

Global Sukuk Market Trends Global Sukuk Market Trends Workshop on Developing Sukuk Markets Arab Monetary Fund World Bank Group Abu Dhabi, UAE April 19, 2015 Zamir Iqbal, PhD. The World Bank Global Islamic Finance Development Center

More information

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy Fund Information Fund Name (PCIF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long-term period by investing in a portfolio of Shariah-compliant

More information

RAKBANK Investor Relations Presentation Q The National Bank of Ras Al-Khaimah (P.S.C)

RAKBANK Investor Relations Presentation Q The National Bank of Ras Al-Khaimah (P.S.C) Investor Relations Presentation Q1 2014 The National Bank of Ras Al-Khaimah (P.S.C) Snapshot of Ras Al Khaimah Situated less than one hour from Dubai, Ras Al Khaimah is the fourth largest of the seven

More information

Malaysia s Islamic Capital Market

Malaysia s Islamic Capital Market The development of Syariah-compliant Structured Investment Fund The Malaysian experience Presented by Datuk Mohamed Azahari Kamil Managing Director / CEO AmanahRaya Investment Bank Ltd Labuan Malaysia

More information

GULF WisdomTree Middle East Dividend Fund

GULF WisdomTree Middle East Dividend Fund WisdomTree Middle East Dividend Fund ETF.com segment: Equity: Frontier Middle East & Africa - Total Market Competing ETFs: N/A Related ETF Channels: Frontier Middle East & Africa, Smart-Beta ETFs, Dividend,

More information

RAKBANK Investor Relations Presentation for the First 9 Months of The National Bank of Ras Al-Khaimah (P.S.C)

RAKBANK Investor Relations Presentation for the First 9 Months of The National Bank of Ras Al-Khaimah (P.S.C) RAKBANK Investor Relations Presentation for the First 9 Months of 2014 The National Bank of Ras Al-Khaimah (P.S.C) 9M 2014 Highlights Financial Snapshot (AED millions) 9M 14 9M 13 Awards & Recognitions

More information

Malaysia. Yield Movements. Size and Composition

Malaysia. Yield Movements. Size and Composition Market Summaries Malaysia Yield Movements Between end-september and end-december, the local currency (LCY) government bond yield curve in Malaysia flattened as yields rose at the shorterend and fell from

More information

30 June 2014 NAV: SAR AUM: Million SAR Bloomberg: JADSEQT Reuters: LP Zawya: JADSAUD.MF

30 June 2014 NAV: SAR AUM: Million SAR Bloomberg: JADSEQT Reuters: LP Zawya: JADSAUD.MF Jun-07 Oct-07 Feb-08 Jun-08 Oct-08 Feb-09 Jun-09 Oct-09 Feb-10 Jun-10 Oct-10 Feb-11 Jun-11 Feb-12 Jun-12 Oct-12 Feb-13 Oct-13 Feb-14 Jun-14 Jadwa Saudi Equity 30 June 2014 NAV: 310.1983 SAR AUM: 279.08

More information

Power. Schroder Asian Income. your way to higher yields. p.a.

Power. Schroder Asian Income. your way to higher yields. p.a. Schroder Asian Income POTENTIAL PAYOUTS 6% PAID MONT HLY* p.a. Power your way to higher yields * It is Schroder Investment Management (Singapore) Ltd s (the Manager s ) current intention to declare distributions

More information

TAKAFUL IKHLAS GROWTH FUND AUGUST 2014

TAKAFUL IKHLAS GROWTH FUND AUGUST 2014 Dec-11 Jan-12 Feb-12 Mar- Apr-12 May- Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar- Apr-13 May- Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar- Apr-14 May- Jun-14

More information

Qatar Faculty of Islamic Studies Center For Islamic Economics and Finance. Sukuk from Economic, Legal, Practical and Shariah Prespectives

Qatar Faculty of Islamic Studies Center For Islamic Economics and Finance. Sukuk from Economic, Legal, Practical and Shariah Prespectives Qatar Faculty of Islamic Studies Center For Islamic Economics and Finance Sukuk from Economic, Legal, Practical and Shariah Prespectives Sukuk: Why & How to Issue? Presentation by Hussain Abdulla, Senior

More information

PROPOSED AMENDMENTS TO THE CONSTITUTION OF TOP GLOVE ( PROPOSED AMENDMENTS ),

PROPOSED AMENDMENTS TO THE CONSTITUTION OF TOP GLOVE ( PROPOSED AMENDMENTS ), TOP GLOVE CORPORATION BHD ( TOP GLOVE OR THE COMPANY ) (I) (II) (III) PROPOSED BONUS ISSUE OF UP TO 1,280,267,624 NEW ORDINARY SHARES IN TOP GLOVE ( TOP GLOVE SHARES ) ( BONUS SHARES ) ON THE BASIS OF

More information

Revisiting the Fundamentals

Revisiting the Fundamentals Islamic Financial Services Group trends and future direction Noor Ur Rahman Abid International Islamic Financial Market Board Meeting 4 February 2008 Revisiting the Fundamentals Investment avenues in conventional

More information

FINAL TERMS. Not Applicable

FINAL TERMS. Not Applicable 13 February 2017 FINAL TERMS DIB Sukuk Limited Issue of U.S.$1,000,000,000 Trust Certificates due 2022 under the U.S.$5,000,000,000 Trust Certificate Issuance Programme PART A CONTRACTUAL TERMS Terms used

More information

CIMB BANK BERHAD (13491-P) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2017

CIMB BANK BERHAD (13491-P) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2017 CIMB BANK BERHAD (13491-P) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2017 31 Mar 2017 31 Dec 2016 31 Mar 2017 31 Dec 2016 Note Assets Cash and short

More information

Malaysia Update. Yield Movements. Size and Composition

Malaysia Update. Yield Movements. Size and Composition Malaysia Update Yield Movements The Malaysian government has been pursuing an expansive fiscal policy since the beginning of the year. On 10 March it announced an MYR60 billion stimulus package, generating

More information

ADIB Sukuk Company Ltd. Issue of U.S.$500,000,000 Trust Certificates due under the U.S.$5,000,000,000. Trust Certificate Issuance Programme

ADIB Sukuk Company Ltd. Issue of U.S.$500,000,000 Trust Certificates due under the U.S.$5,000,000,000. Trust Certificate Issuance Programme 28 November 2011 ADIB Sukuk Company Ltd. Issue of U.S.$500,000,000 Trust Certificates due 2016 under the U.S.$5,000,000,000 Trust Certificate Issuance Programme PART A CONTRACTUAL TERMS Terms used herein

More information

SHUAA Capital DFM Roadshow Presentation

SHUAA Capital DFM Roadshow Presentation SHUAA Capital DFM Roadshow Presentation London, May 2007 Disclaimer This document is produced for informational purposes only. The information contained herein must not be reproduced in whole or in part

More information

Fund Fact Sheets MYGROWTH MYDIVIDEND MYBALANCED

Fund Fact Sheets MYGROWTH MYDIVIDEND MYBALANCED Fund Fact Sheets MYGROWTH MYDIVIDEND MYBALANCED MYBLUE CHIPS ITTIZAN MYEQUITY INDEX ISTIQRAR This document provides detailed features, investment objectives, strategy and approach of the 7 Shariah-compliant

More information

100.00% 80.00% 60.00% 40.00% 20.00% 0.00% Nov-11. May-12. Feb %

100.00% 80.00% 60.00% 40.00% 20.00% 0.00% Nov-11. May-12. Feb % Nov-11 Feb-12 May-12 Aug-12 Nov-12 Feb-13 May-13 Aug-13 Nov-13 Feb-14 May-14 Aug-14 Nov-14 Feb-15 May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 TAKAFUL IKHLAS GROWTH FUND JULY 2017 FUND

More information

Swiss Passport to Islamic Finance

Swiss Passport to Islamic Finance Swiss Passport to Islamic Finance by The Swiss Asset Management Magazine www.banco.ch No. 2 Spring - Summer 2007 Islamic Finance Survey Michael Saleh Gassner Michael Gassner Consultancy Ltd. Market segments,

More information

Rizwan H. Kanji. Matters

Rizwan H. Kanji. Matters Rizwan H. Kanji Partner Corporate, Finance and Investments Dubai: +971 4 377 9905 rkanji@kslaw.com Rizwan H. Kanji specializes in debt capital markets, finance and securitizations using both conventional

More information

(0.7) (17.0) (11.0) (21.7) (20.0) (21.2) 5.5 (14.7) (17.3) (7.6) (14.5) (19.2) 1Y Rtn (12/31/10-12/30/11)

(0.7) (17.0) (11.0) (21.7) (20.0) (21.2) 5.5 (14.7) (17.3) (7.6) (14.5) (19.2) 1Y Rtn (12/31/10-12/30/11) Research Division Monthly Unit Trust Review AMB Dec 2011:The MUTI continues expansion albeit slumps in the stock markets TABLE 1: MAJOR & REGIONAL INDICES AS AT 30 DECEMBER 2011 Index Points % MOM % YOY

More information

Danga Capital Berhad Company No X (incorporated in Malaysia with limited liability under the Companies Act, 1965)

Danga Capital Berhad Company No X (incorporated in Malaysia with limited liability under the Companies Act, 1965) OFFERING CIRCULAR Danga Capital Berhad Company No. 835648-X (incorporated in Malaysia with limited liability under the Companies Act, 1965) CNY500,000,000 Trust Certificates due 2014 with recourse to Khazanah

More information

CIMB BANK BERHAD (13491-P) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENTS OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2018

CIMB BANK BERHAD (13491-P) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENTS OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2018 - CIMB BANK BERHAD (13491-P) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENTS OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2018 30 Sept 2018 31 Dec 2017 30 Sept 2018 31 Dec 2017 Note Assets Cash

More information

Breakdown of Unitholdings of PGF as at 31 January 2018

Breakdown of Unitholdings of PGF as at 31 January 2018 Fund Information Fund Name Public Growth Fund () Fund Category Equity Fund Investment Objective To achieve long-term capital appreciation with income considered incidental. Fund Performance Benchmark The

More information

FY2018 Financial Results Analyst & Media Briefing

FY2018 Financial Results Analyst & Media Briefing 30 January 2019 FY2018 Financial Results Analyst & Media Briefing Datuk Seri Tajuddin Atan Chief Executive Officer Rosidah Baharom Chief Financial Officer Agenda Market Recap Key Financial Highlights &

More information

D U B A I F I N A N C I A L M A R K E T. HSBC MENA Business Leader Equity Investor Forum

D U B A I F I N A N C I A L M A R K E T. HSBC MENA Business Leader Equity Investor Forum D U B A I F I N A N C I A L M A R K E T HSBC MENA Business Leader Equity Investor Forum Dubai - October 2010 1 Contents 1. UAE Financial Sector Vision and Strategy 2. UAE Capital Markets 3. Dubai Financial

More information

Public Islamic Asia Tactical Allocation Fund (PIATAF) Breakdown of Unitholdings of PIATAF as at 30 April 2018

Public Islamic Asia Tactical Allocation Fund (PIATAF) Breakdown of Unitholdings of PIATAF as at 30 April 2018 Fund Information Fund Name Public Islamic Asia Tactical Allocation Fund () Fund Category Mixed Asset (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long-term

More information

DISCOVER LABUAN INTERNATIONAL BUSINESS AND FINANCIAL CENTRE

DISCOVER LABUAN INTERNATIONAL BUSINESS AND FINANCIAL CENTRE DISCOVER LABUAN INTERNATIONAL BUSINESS AND FINANCIAL CENTRE LABUAN IBFC IS THE OFFICIAL AGENCY SANCTIONED BY THE MALAYSIAN GOVERNMENT TO MARKET LABUAN AS THE PREMIER INTERNATIONAL BUSINESS AND FINANCIAL

More information

Fund Fact Sheets. 1. myequity INDEX FUND 2. mygrowth FUND 3. myblue CHIPS FUND 4. mydividend FUND 5. mybalanced FUND 6. ITTIZAN 7.

Fund Fact Sheets. 1. myequity INDEX FUND 2. mygrowth FUND 3. myblue CHIPS FUND 4. mydividend FUND 5. mybalanced FUND 6. ITTIZAN 7. Fund Fact Sheets This document provides detailed features, investment objectives, strategy and approach of the 7 Shariah-compliant funds and all other important information that you will need to know regarding

More information

Event Update Apr 18 OMAN BANKING SECTOR. Revised Central Bank Regulations to benefit the local banks

Event Update Apr 18 OMAN BANKING SECTOR. Revised Central Bank Regulations to benefit the local banks Apr 18 OMAN BANKING SECTOR Revised Central Bank Regulations to benefit the local banks Oman Banking Sector Regulatory amendments to benefit the local banks, Omani Banks to re rate... The Event: CBO Amended

More information

ISLAMIC FINANCE: A GLOBAL VIEW

ISLAMIC FINANCE: A GLOBAL VIEW ISLAMIC FINANCE INDUSTRY: TRENDS, OPPORTUNITIES & FUTURE DIRECTION Baljeet Kaur Grewal Group Chief Economist/ Head, Global Research 8 th May 28 1 ISLAMIC FINANCE: A GLOBAL VIEW Global Deployment of Islamic

More information

Exchange Traded Fund as an Investment Tool. 11 June 2011

Exchange Traded Fund as an Investment Tool. 11 June 2011 Exchange Traded Fund as an Investment Tool 11 June 2011 Contents Brief History about ETF ETF Basics ETF Features ETF Structure ETF Industry Shariah ETF Features of Shariah ETF Application of ETF Why ETF

More information

PROSPECTS & OPPORTUNITY IN ISLAMIC CAPITAL MARKETS. Baljeet Kaur Grewal Group Chief Economist/ Head, Global Research 30 th April 2008

PROSPECTS & OPPORTUNITY IN ISLAMIC CAPITAL MARKETS. Baljeet Kaur Grewal Group Chief Economist/ Head, Global Research 30 th April 2008 PROSPECTS & OPPORTUNITY IN ISLAMIC CAPITAL MARKETS Baljeet Kaur Grewal Group Chief Economist/ Head, Global Research 30 th April 2008 1 ISLAMIC FINANCE: A GLOBAL VIEW Global Deployment of Islamic Products

More information

Facilitating Sustainable Financing. Noraizat Shik Ahmad Securities Commission Malaysia IIFM Seminar on Financial Markets 8 May 2018

Facilitating Sustainable Financing. Noraizat Shik Ahmad Securities Commission Malaysia IIFM Seminar on Financial Markets 8 May 2018 Facilitating Sustainable Financing Noraizat Shik Ahmad Securities Commission Malaysia IIFM Seminar on Financial Markets 8 May 2018 1 Malaysia s capital market is well-positioned to leverage on the growing

More information

FINAL TERMS. Noor Sukuk Company Ltd.

FINAL TERMS. Noor Sukuk Company Ltd. MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET MARKET Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the

More information

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy Fund Information Fund Name (PIADF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To provide income by investing in a portfolio of stocks in domestic and regional markets that complies

More information

The State of the Islamic Capital Market & Future Prospects

The State of the Islamic Capital Market & Future Prospects The State of the Islamic Capital Market & Future Prospects Ijlal Alvi CEO IIFM Contents Global Market Perspective The Islamic Capital Market OIC Equity Market Malaysian Capital Markets Way Forward Future

More information

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy Fund Information Fund Name (PAIF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long term period by investing in a portfolio of investments

More information

Japan's International Investment Position at Year-End 2009

Japan's International Investment Position at Year-End 2009 Japan's at Year-End 2009 September 2010 International Department Bank of Japan This is an English translation of the Japanese original released on May 25, 2010 Japan's international investment position

More information

4th - Asian Fixed Income Summit Investing in Asia s Fixed Income Market

4th - Asian Fixed Income Summit Investing in Asia s Fixed Income Market 4th - Asian Fixed Income Summit Investing in Asia s Fixed Income Market September 217 Derek Armstrong Credit Suisse Head of Debt Capital Markets, Asia Pacific These materials may not be used or relied

More information

A-MYR (RETAIL) Growth Fund Smart Investment Choice for Constant Capital Growth Fund Factsheet 28 February 2017

A-MYR (RETAIL) Growth Fund Smart Investment Choice for Constant Capital Growth Fund Factsheet 28 February 2017 Fund Factsheet 28 February 2017 A-MYR (RETAIL) The fund's objective is to provide investors with capital growth through investments into securities that are trading at a discount to their intrinsic values,

More information

International Foreign Reserves

International Foreign Reserves International Foreign Reserves 29 International Foreign Reserves Solving the Global Reserve Problem The Asian financial crisis in 1997 marks an end to an era of unrestricted capital flows and unprecedented

More information

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy

Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy Fund Information Fund Name (PIOEF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long-term period by investing in a diversified portfolio

More information

Malaysia. Yield Movements. Size and Composition. 106 Asia Bond Monitor

Malaysia. Yield Movements. Size and Composition. 106 Asia Bond Monitor 106 Asia Bond Monitor Malaysia Yield Movements Between 1 September and 31 October, yields for local currency (LCY) government bonds in Malaysia rose for most tenors (Figure 1). Yields for bonds with maturities

More information

Q1 11 Investor presentation May 2011

Q1 11 Investor presentation May 2011 AbuDhabi Commercial Bank PJSC Q1 11 Investor presentation May 2011 1 Disclaimer This document has been prepared by Abu Dhabi Commercial Bank PJSC ( ADCB ) for information purposes only. The information,

More information

Middle East Sovereign and Quasi-Sovereign Bonds in Ltd. Laffan Liquefied Natural Gas Company Limited (3))

Middle East Sovereign and Quasi-Sovereign Bonds in Ltd. Laffan Liquefied Natural Gas Company Limited (3)) Number 915 10 August 2009 Client Alert Latham & Watkins Corporate Department Assessing the Middle East Sovereign Bond Market For the first time in recent memory, Gulf countries are seeking external capital

More information

Asia Bond Monitor March 2015

Asia Bond Monitor March 2015 June 1 asianbondsonline.adb.org Key Developments in Asian Local Currency Markets Consumer price inflation in Malaysia accelerated to.1% year-on-year (y-o-y) in May from 1.8% y-o-y in April, mainly due

More information

BURSA MALAYSIA BERHAD

BURSA MALAYSIA BERHAD BURSA MALAYSIA BERHAD 33 rd Annual General Meeting Presentation to Shareholders Dato Yusli Mohamed Yusoff, CEO 29 March 2010 Visit us at http://www.bursamalaysia.com Bursa Malaysia and its Group of Companies

More information

Investor Day 19 March 2013

Investor Day 19 March 2013 Investor Day 19 March 2013 Muzaffar Hisham Chief Executive Officer, Maybank Islamic Head, Group Islamic Banking Table of Contents Introduction 3 About Maybank Islamic 9 Financial Performance 16 Prospects

More information

Fund Performance Average Total Return for the Following Years Ended 28 February 2018

Fund Performance Average Total Return for the Following Years Ended 28 February 2018 Fund Information Fund Name PB Asia Emerging Growth Fund () Fund Category Equity Fund Investment Objective To achieve capital growth over the medium to long-term period by primarily investing in the securities

More information

CIMB s FY17 PBT up 25.1% to a record RM6.11 billion

CIMB s FY17 PBT up 25.1% to a record RM6.11 billion CIMB s FY17 PBT up 25.1% to a record RM6.11 billion Wednesday, 28 February 2018 for immediate release Record operating income of RM17.63 billion (+9.7% Y-o-Y) FY17 PBT improved 25.1% Y-o-Y to RM6.11 billion

More information

SUMMARY OF THE INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 TH JUNE 2013

SUMMARY OF THE INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 TH JUNE 2013 9/F, 10 Des Voeux Road Central, Hong Kong. Dealing: 2308 8200 Research: 3608 8097 Facsimile: 3608 6132 HONG KONG RESEARCH Analyst: Paul Sham 6 th August 2013. HSBC HOLDINGS PLC ( 滙豐控股 ) Sector : Banking

More information

Listing in Singapore. Presented by Ang Suat Ching Head, Corporate Finance Group Investment Banking. [May 2012]

Listing in Singapore. Presented by Ang Suat Ching Head, Corporate Finance Group Investment Banking. [May 2012] Listing in Singapore Presented by Ang Suat Ching Head, Corporate Finance Group Investment Banking [May 2012] Contents 1. Introduction to Singapore Market 2. Considerations for Listing in Singapore 3. Listing

More information

Private Equity Investment in the Middle East: Deal Structures and Issues

Private Equity Investment in the Middle East: Deal Structures and Issues International In-house Counsel Journal Vol. 3, No. 9, Autumn 2009, 1393 1398 Private Equity Investment in the Middle East: Deal Structures and Issues MARK SALTZBURG General Counsel, Abu Dhabi Investment

More information