Posted Date : 24 Feb 2011
CIMB Investment Bank Berhad (CIMB) topped MARC’s Lead Managers’ League Table for 2010 in terms of both value and number of issues, with Maybank Investment Bank Berhad (Maybank-IB) coming in a close second. CIMB lead-managed five issuances amounting to RM6.72 billion followed by Maybank-IB which lead-managed 4 issuances totalling RM6.22 billion.
For the whole of 2010, MARC rated 22 corporate debt issues worth RM19.975 billion (2009: 29 issues worth RM14.8 billion). Half of the number of issuances were structured based on Islamic financing principles whilst in terms of value, sukuk accounted for close to 60% (RM11.9 billion) of the total amount issued. Amongst the most notable Islamic issuances for the year were TTM Sukuk Berhad’s RM600 million Sukuk Musyarakah and Senai-Desaru Expressway Berhad’s RM5.58 billion Senior and Junior Sukuk Ijarah MTN Programmes.
The details of MARC's Lead Managers’ League Tables are as follows:
Lead Managers’ League Table For January – December 2010
(By Value RM 'million)
| No. | Lead Manager | Conventional | Islamic | Total |
| 1 | CIMB Investment Bank Berhad | 5,050.0 | 1,670.0 | 6,720.0 |
| 2 | Maybank Investment Bank Berhad | 400.0 | 5,820.0 | 6,220.0 |
| 3 | RHB Investment Bank Berhad | 300.0 | 1,333.3 | 1,633.3 |
| 4 | Al Rajhi Banking & Investment Corporation (Malaysia) Berhad | 1,333.3 | 1,333.3 | |
| 5 | The Royal Bank of Scotland Berhad | 1,333.3 | 1,333.3 | |
| 6 | Affin Investment Bank Berhad | 1,122.0 | 1,122.0 | |
| 7 | AmInvestment Bank Berhad | 700.0 | 700.0 | |
| 8 | HSBC Amanah Malaysia Berhad | 300.0 | 300.0 | |
| 9 | OCBC Bank (Malaysia) Berhad | 248.0 | 248.0 | |
| 10 | Public Investment Bank Berhad | 230.0 | 230.0 | |
| 11 | MIMB Investment Bank Berhad | 135.0 | 135.0 | |
| Grand Total | 8,050.0 | 11,925.0 | 19,975.0 |
Lead Managers’ League Table For January – December 2010
(by Issue Count)
| No. | Lead Manager | Conventional | Islamic | Total |
| 1 | CIMB Investment Bank Berhad | 2 | 3 | 5 |
| 2 | Maybank Investment Bank Berhad | 1 | 3 | 4 |
| 3 | Affin Investment Bank Berhad | 3 | 3 | |
| 4 | RHB Investment Bank Berhad | 1 | 1 | 2 |
| 5 | AmInvestment Bank Berhad | 2 | 2 | |
| 6 | Public Investment Bank Berhad | 1 | 1 | |
| 7 | The Royal Bank of Scotland Berhad | 1 | 1 | |
| 8 | HSBC Amanah Malaysia Berhad | 1 | 1 | |
| 9 | Al Rajhi Banking & Investment Corporation (Malaysia) Berhad | 1 | 1 | |
| 10 | OCBC Bank (Malaysia) Berhad | 1 | 1 | |
| 11 | MIMB Investment Bank Berhad | 1 | 1 | |
| Grand Total | 11 | 11 | 22 |
The first half of 2010 started on a low note with modest number of issuance volumes. As the year unfolded, a definite pick up in activity was observed with the debut of Danajamin-wrapped issues, followed by several notable infrastructure financings.
MARC expects the momentum in the primary bond market to be sustained in 2011, assisted by an improved economic environment. The announcement of RM14.5 billion worth of projects to be implemented in 2011 under the Public-Private Partnership (PPP) programme should support an active bond/sukuk pipeline. MARC also expects more Danajamin-related issues to be announced in 2011.
During the first two months of 2011 alone, MARC announced two new ratings with a total programme size of RM12.0 billion. The issues, from Aman Sukuk Berhad and Bank Pembangunan Malaysia Berhad, signalled a solid start for 2011. The rating agency is forecasting corporate bond issuance of RM50 billion this year.
Contacts:
Saw Leng Hean, +603-2082 2248/ lenghean@marc.com.my;
Nadia Nadira Mohd Ghazali, +603-2082 2212/ nadianadira@marc.com.my.
