Page 164 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL
REPORT
2018

bonds and sukuk with tenures of more than 15 Chart 1
years which included 9 issuances with perpetual Tenure of lodged/approved ringgit–denominated
maturities (Chart 1). corporate bonds and sukuk issues

40
In 2018, a total of 26 ratings (based on initial rating) 2018 35
were assigned by credit rating agencies to ringgit 35 2017
denominated corporate bonds and sukuk issues 30
approved by/lodged with the SC. The number of 26
unrated issues declined by 20% (Chart 2). 25 21 24
No. of issues 20
The mandatory rating requirement for corporate 18 15
bonds and sukuk has been removed effective 15
January 2017.
10
There were 2 foreign currency-denominated sukuk 5
lodged with the SC in 2018 by foreign issuers. 0
1–7 years 8–15 years Above 15 years
Note:
Tenure of facility, and not the respective notes or papers under
the facility.

Chart 2
Rating summary of lodged/approved ringgit-denominated corporate bonds and sukuk issues

Long-term rating short-term rating

40 2018 37 12 2018
2017 2017
35 10
10
29
30 26 8 8
No. of ratings assigned 25 No. of ratings assigned 6 5

20

15
10 12 12 7 4 3
6 5 2
5 1
0 1 0 0 0 0 0
0 0
AAA AA A BBB BB, B, Not P1/MARC-1 P2/MARC-2 P3/MARC-3 Not Rated
C or D Rated
Note:
A corporate bond or sukuk issue may be assigned more than 1 credit rating (e.g. for commercial papers/medium-term notes programmes, both short-term
rating accorded for commercial papers and long-term rating for medium-term notes are taken into account).

154 | PART 5 »» STATEMENTS, STATiSTiCS ANd ACTiviTiES

NEW_90-222.indd 154 2/21/19 9:30 AM