KUALA LUMPUR, April 17 — The strong acceptance of Malaysia’s US$1.5 billion (RM5.4 billion) global sukuk programme issued yesterday, demonstrates foreign investor confidence in the country’s economy.
Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar said Malaysia’s efforts at focusing on fundamentals, helped investors see through the economy.
“They can differentiate between sentiment and fundamentals,” he added.
Malaysia’s economy, he said, had moved away from over-reliance on the commodity sector to diversify into manufacturing and the services sector, thus reducing the exposure to commodity volatility.
“To raise the huge sum of money in the relatively challenging environment, speaks volumes of the confidence of investors in Malaysia’s overall economy,” he added, after launching Malakoff Corporation Bhd’s prospectus on its planned listing here today.
Meanwhile, MMC Corporation Bhd group managing director Datuk Seri Che Khalib Mohamad Noh said the strong response to Malaysia’s global sukuk issuance, came despite negative comments on the country’s economy and challenges it was now facing.
“Globally, people still accept the strong fundamentals of the Malaysian economy. This is evident from the strong demand to the global sukuk,” he added.
The sukuk issuance saw 450 global investors contributing to a US$9 billion order book. — Bernama
