ASEAN KEY DESTINATIONS
More bonds mean more Malaysian growth
The ringgit-denominated sukuk market in this quarter saw significant interest, with five sukuk issuances amounting to RM7.77billion (US$2.5 billion) approved.
This was in stark contrast to the two approved sukuk issuances, amounting to only RM590mil, during the same quarter last year.
The SC said in a statement yesterday that sustained interest in the capital market had continued in Q1 2011, with 35 substantive applications received-compared with 27 in the previous quarter. Four applications were for initial public offerings (IPOs), with a total potential market capitalisation of RM3.72bil.
These applications included China Stationery Ltd, which received the green light from the SC in March for its proposed listing on Bursa Malaysia's Main Market.
Integrated plastic stationery company China Stationery, which is based in Putian, Fujian province, is believed to have a potential market capitalisation of RM1.1bil.
The SC pointed out that it maintained high performance standards with 96 percent of corporate proposals and 99.8 percent of licensing applications processed within the time charters. A total of 1,390 licence applications were received in Q1 2011.
It said the 206 new entrants into the market at the start of the year had set the stage for vibrant growth, both in terms of quantity and quality of the players.
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