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Bond+Sukuk Information Exchange Bixmalaysia.Com News Update BOND+SUKUK INFORMATION EXCHANGE BIXMALAYSIA.COM NEWS UPDATE 25 February 2020 US Yield Daily Yield Weekly Yield Monthly Yield YTD Yield Treasury 24 Feb 20 Change 21 Feb 20 Change *14 Feb 20 Change 24 Jan 20 Change 31 Dec 19 MARKET bps bps bps bps 3 YEAR 1.21 -9 1.30 -19 1.40 -27 1.48 -41 1.62 5 YEAR 1.21 -9 1.30 -21 1.42 -30 1.51 -48 1.69 SUMMARY 7 YEAR 1.30 -9 1.39 -21 1.51 -31 1.61 -53 1.83 10 YEAR 1.38 -8 1.46 -21 1.59 -32 1.70 -54 1.92 MGS Yield Daily Yield Weekly Yield Monthly Yield YTD Yield 24 Feb 20 Change 21 Feb 20 Change 17 Feb 20 Change 24 Jan 20 Change 31 Dec 19 bps bps bps bps 3 YEAR 2.72 1 2.71 5 2.67 -15 2.87 -26 2.98 5 YEAR 2.78 2 2.76 6 2.72 -15 2.93 -37 3.15 7 YEAR 2.98 13 2.85 15 2.83 -14 3.12 -32 3.30 10 YEAR 3.01 11 2.90 13 2.88 -14 3.15 -29 3.30 GII Yield Daily Yield Weekly Yield Monthly Yield YTD Yield 24 Feb 20 Change 21 Feb 20 Change 17 Feb 20 Change 24 Jan 20 Change 31 Dec 19 bps bps bps bps 3 YEAR 2.73 0 2.73 4 2.69 -18 2.91 -33 3.06 5 YEAR 2.87 3 2.84 11 2.76 -18 3.05 -32 3.19 7 YEAR 2.92 7 2.85 11 2.81 -22 3.14 -38 3.30 10 YEAR 3.07 11 2.96 15 2.92 -15 3.22 -35 3.42 • 1 bps = 0.01% • Increase in Yield = Decrease AAA Yield Daily Yield Weekly Yield Monthly Yield YTD Yield 24 Feb 20 Change 21 Feb 20 Change 17 Feb 20 Change 24 Jan 20 Change 31 Dec 19 in the bond price/value bps bps bps bps 3 YEAR 3.15 7 3.08 2 3.13 -26 3.41 -40 3.55 Source: US Treasury, BNM & 5 YEAR 3.22 8 3.15 4 3.19 -28 3.50 -45 3.67 7 YEAR 3.28 7 3.21 5 3.23 -29 3.57 -48 3.76 BIX Malaysia 10 YEAR 3.36 7 3.29 5 3.31 -31 3.67 -53 3.89 REUTERS NEWS Malaysia's Mahathir quits at 94 but agrees to stay as interim PM Mahathir Mohamad unexpectedly quit as Malaysia's prime minister on UPDATE Monday, leaving the country in political turmoil, but agreed to a request by the Southeast Asian nation's king to stay on as interim premier until a successor is named. Today's headlines of interest and The resignation of Mahathir, 94, broke apart a coalition with old rival summaries as extracted from the Anwar Ibrahim, 72, that had scored a surprise election victory in 2018, and international and local media. was not part of a pre-election promise that Mahathir would eventually cede power to Anwar. The decision, which Mahathir did not explain, followed weekend talks between members of his coalition and the opposition on forming a new government. The political turmoil, together with alarm in the region over the spread of the new coronavirus, sent Malaysia's currency, bonds and stock market lower, and drew calls from some quarters for the world's oldest government leader to return. Differences have been simmering between Mahathir and Anwar over delays to the planned transfer of power, presenting some anti-Anwar politicians with a window to try to seek a new coalition. The king accepted the resignation after meeting Mahathir, Chief Secretary Mohd Zuki Ali said in a statement. "However, His Highness has given his assent to appoint Mahathir Mohamad as interim prime minister, while waiting for the appointment of the new prime minister. THE EDGE MARKETS Malaysia’s political uncertainty will dim economic prospects — Fitch NEWS Solutions Malaysia’s long-term economic prospects is likely to be dimmed as a UPDATE result of political uncertainty and increasing polarisation, said Fitch Solutions Group (FSG). The Fitch Ratings Inc affiliate said in a report today that the political instability in Malaysia is shaping up to be a longer- lasting phenomenon than just a temporary issue after the 2018 general Today's headlines of interest and election. summaries as extracted from the international and local media. It noted that the ability to implement sensitive but much-needed reforms to the country’s affirmative action policies, needed to correct inefficiencies and reverse a heavy outflow of talented individuals from ethnic minorities, to especially neighbouring Singapore, will be heavily curtailed. The state of political affairs in the country remain a blur after Prime Minister Tun Dr Mahathir Mohamad’s resignation today, with reports indicating that the formation of a new government is on the cards. The Yang di-Pertuan Agong has accepted Dr Mahathir’s resignation as the prime minister, but has appointed him as interim premier until a new prime minister is appointed. According to FSG, two likely scenarios could take place in the following days, which are either that Pakatan Harapan dissolves, and a new coalition forms the government with Dr Mahathir as prime minister, or that there is no new government but Pakatan Harapan dissolves, leading to new elections. THE STAR NEWS RE segment driving domestic SRI sukuk market The power industry is among the most active sectors tapping the UPDATE domestic bond market, with a five-year average annual issuance of about RM8.4bil between 2015 and 2019. RAM Ratings said outstanding power bonds and sukuk amounted to some RM65bil as at end-January 2020, which is equivalent to about 9% of Malaysia’s total outstanding corporate Today's headlines of interest and bonds. summaries as extracted from the “Mirroring the government’s agenda, the power sukuk market was driven international and local media. by RE projects in 2019. “While the facility sizes are much smaller than those of conventional power projects, the RE segment has been driving Malaysia’s sustainable and responsible investment (SRI) sukuk market, ” the ratings house said. Notable issuers included Telekosang Hydro One Sdn Bhd, Edra Solar Sdn Bhd and Cypark Ref Sdn Bhd. The government has upsized project scales to help rein in independent power producers’ financing costs and facilitate their access to the sukuk market, as observed in the large scale solar (LSS) three bidding, whereby the maximum project size has been increased to 100MW from the 30MW under LSS three. RAM said it has rated numerous prominent firsts in the SRI sukuk market, along with innovative financing structures that have involved the pooling of multiple plants that enable smaller IPPs to successfully tap the market. DISCLAIMER No Offer The information provided and services described in the BIX website are of a general nature, are not offers for investment and are not intended to be personalised financial advice to investor. The information provided in the BIX website is not intended to be a substitute for professional advice. Reliance should not be placed on the BIX website and you should seek appropriate personalised financial advice from a qualified professional to suit your individual circumstances and risk profile. Website Information BIX website is a publisher of content supplied by third parties. While every effort is made to ensure the information on the BIX website is up-to-date and correct, the Company makes no representations or warranties of any kind, express or implied, about the accuracy, reliability, completeness, suitability or availability of the BIX website or the information provided on the BIX website from the sources. The information on the BIX website is subject to change at any time. Any reference on this BIX website to historical information and performance may not necessarily be a good guide to future performance. You are solely responsible for any actions you take or do not take by relying on such information. To the full extent legally allowable, the directors, associates, vendors and staff of the Company expressly disclaim all and any liability and responsibility to any person in respect of anything, and of the consequences of anything, done or omitted to be done by any such person in reliance, whether wholly or partially, upon the whole or any part of the contents of this BIX website. Third party products and services Through the BIX website you may be able to link to other websites which are not under the control of the Company. The Company has no knowledge of or control over the nature, content, and availability of those websites. The Company does not sponsor, recommend, or endorse anything contained on these linked websites. The Company does not accept any liability of any description for any loss suffered by you by relying on anything contained or not contained on these linked websites. The Company accept no responsibility or liability for the content, use or availability of such websites. The Company shall not be liable for any and all liability for the acts, omissions and conduct of any third parties in connection with or related to your use of this site and/or our services. SUBSCRIBE NOW Head on to our website at bixmalaysia.com to learn more about Malaysia’s Bond & Sukuk DOWNLOAD NOW Receive updates on your bond and sukuk via BIX Malaysia mobile app CONTACT US AHMAD AL IZHAM BIN IZADIN BIX Malaysia Research & Business Development [email protected].
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