Bank Negara Malaysia is pleased to accord the landmark issuance of 3.0 billion USD bond and 1.5 billion USD sukuk by Petronas with the designation of "Emas". "Emas", which is the Malay word for "gold", symbolises universal value and security. The "Emas" designation will be given to foreign-currency denominated issuances. This will provide greater visibility to the Malaysian market for the raising of funds by local and foreign corporations.
The Petronas issuances, amidst the challenging global financial markets, were highly successful, attracting significant interest from a wide investor base. This is the largest USD issuance by an Asian entity outside Japan this year. This issuance showcases Malaysia's credentials as a centre of origination not only for Ringgit bonds and sukuk, but also for issuance of foreign currency denominated bonds and sukuk. In Malaysia, the sukuk component has grown to be larger than its conventional counterpart. Malaysia is currently the global leader in sukuk issuance, accounting for 62% of total global sukuk outstanding.
Given the growing maturity of our bond market, it is timely that Malaysia should offer its own brand proposition to distinguish foreign currency denominated bonds and sukuk originating from Malaysia in the global capital market.
Bank Negara Malaysia
10 August 2009
source : http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1892
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