,Maybank Investment Bank CEO Fad’l Mohamed told StarBiz the debt capital market is on track to achieve the projected RM110bil mark by year-end.Last year, the debt capital market stood at RM104bil.
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PETALING JAYA: The capital market is expected to remain robust for the remainder of the year, fuelled by financing from government-led projects and fund-raising activities amid headwinds.
Maybank Investment Bank CEO Fad’l Mohamed told StarBiz the debt capital market is on track to achieve the projected RM110bil mark by year-end.
Last year, the debt capital market stood at RM104bil.
“As at Aug 31, 2021, it was at RM73.8bil and judging by this figure, the market is on track to achieve the RM110bil mark. Sector focus continues to be infrastructure financing, especially from government-led projects.
“We also see an increase in fundraising activities across financial institutions like commercial banks, non-banks and development financial institutions.”
He said this is in line with the pivotal role that the financial industry will play in rebuilding the economy and supporting the recovery of economic activities.
“At the same time, the market also saw several debut issuers from the financial industry tapping the capital markets to diversify their funding sources, in anticipation of higher volume of activities,” he said.
For 2022, Fad’l is forecasting a total bond issuance volume of RM120bil to RM130bil, driven by refinancing in addition to fresh funding requirements by companies on the back of an anticipated economic recovery.
He noted that corporates would also continue to look for opportunistic funding to capitalise on the still relatively low interest-rate environment before rates start to move up again as the economy gradually opens owing to the vaccination progress.Maybank HQ in Kuala Lumpur
Block trades were the most active equity capital market segment in 2020. He expects it to continue picking up in the second half of the year as the market prices in a more sustained recovery from the Covid-19 pandemic.
“We have seen early evidence of this with MR D.I.Y. Group (M) Bhd’s RM846.4mil secondary placement in August, which was well received by both new and existing shareholders, with the top 10 long-only investors accounting for more than 80% of the final allocations of shares.”
Long-only refers to buying securities and holding them for the long term to capture the anticipated appreciation.
As investment picks up steam and the capital market remains robust, Maybank Investment Bank is strategising to strengthen its position in the market.
“As an investment bank, our strength lies in our people. The trust that clients place in us, our ability to deliver innovative ideas in response to the market environment – is primarily attributable to the strong teamwork and talent that we have.