Malaysia: Issuance Size and Ratings of Bonds and Sukuk 2012 – 2017

Transcription

1. Fact File #163: Ratings 2012 – 2017 in Malaysia by Meor Amri Meor Ayob, CEO  Issuance size of bonds and sukuk is on an uptrend Ratings Done Outstanding Bonds & Sukuk 1,400.00 600 1,300.00 550 1,200.00 RM Billion Number of Ratings 650 500 450 1,100.00 1,000.00 900.00 400 Ratings 2012 2013 2014 2015 2016 2017 599 577 547 491 483 460 800.00 2012 2013 2014 2015 2016 2017 Outstanding 1,010.6 1,036.4 1,111.3 1,126.2 1,174.8 1,293.9 Market Share of Ratings Done 100% Number of ratings done annually have been dropping for the last six years between 2012 and 2017. However, the amount of bonds and sukuk outstanding has increased for the same period. This implies the issuance size per rating has grown over the same period. 80% 60% 40% 20% 0% For the same period, the market share of ratings done by the two local rating agencies has stabilized somewhat. 2012 2013 2014 2015 2016 2017 MARC 223 197 172 135 132 125 RAM 376 380 375 356 351 335 Source: BondStream by Bond Pricing Agency Malaysia Sdn Bhd The Fact Files are a series of short publications by Bond Pricing Agency Malaysia highlighting interesting facts and information regarding the bond and sukuk markets as well as on the subject of valuation. Bond Pricing Agency Malaysia Sdn Bhd (667403-U) No. 17-8 & 19-8, The Boulevard, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia. Tel: +603-2772 0888 Fax: +603-2772 0887 e-mail: enquiries@bpam.com.my http://www.bpam.com.my