NST Online Business Times : latest
NST Online Business Times : latest |
| Berjaya Sports cut to 'market perform' Posted: 18 Sep 2012 06:55 PM PDT RHB Research Institute cut its call on Berjaya Sports Toto Bhd to "market perform" from "trading buy" on expectations that the gaming firm's growth is likely to moderate. "Going forward, while we believe there would still be topline growth for BToto ... we believe this growth could begin to moderate," RHB said in a note on Wednesday. The research house kept its target price at RM4.55 per share, adding that risks include the introduction of regulatory changes for the number forecast operation (NFO) industry to discourage gambling, or a gaming tax hike by the government. Shares in Berjaya Sports Toto inched up 0.2 percent against the Malaysian benchmark stock index's 0.08 percent rise. -- REUTERS  |
| Bloomberg launches corp sukuk index Posted: 18 Sep 2012 06:24 AM PDT Bloomberg launched a corporate sukuk index on Tuesday that will track and measure the performance of Malaysia's most liquid and credit-worthy Islamic ringgit-denominated corporate bonds, a move Islamic finance experts said will help spur investment in sukuk. The index, developed in partnership with the Association of Islamic Banking Institutions Malaysia (AIBIM) and Bursa Malaysia, is meant to serve as a benchmark for investors of ringgit-denominated sukuk. "By providing accurate pricing and benchmarking, this index will improve the portfolio management and contribute to a more robust bond market," Datuk Mohamad Zabidi Ahmad, CIMB Malaysia's head of Islamic treasury, said at a press conference after the index launch at the Global Islamic Finance Forum here. Bloomberg will calculate the index daily, with rates and prices contributed by member banks of AIBIM. The new index comes at a time when Malaysia is enjoying a record year for sales of corporate sukuk, with potentially about RM20 billion of shariah-compliant debt in the pipeline, according to data compiled by Bloomberg. As at June this year, Malaysia's corporate sukuk issuance stood at RM64 billion. AIBIM president Datuk Mohd Redza Shah Abdul Wahid noted that there is a growing need for investors to have access to accurate, timely and comprehensive data on sukuk. "Strategic collaboration to develop localised financial products will help stimulate the long-term growth, competitiveness and sustainability of Islamic finance services," he said. |
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