Gulf-based banks and companies, struggling to overcome a lack of investor confidence after the Dubai debt crisis, are increasingly looking towards Malaysia, the world's biggest Islamic bond market with a vast pool of cash.
After the burst of the Gulf real estate and asset bubble, institutions are keen to issue bonds in order to restructure debt and rebuild their balance sheets and Malaysia has an estimated US$79bil in excess liquidity, according to Kuwait Finance House.
The liquidity pool has definitely shifted from West to East, said Nida Raza, senior vice-president at Unicorn Capital. Malaysia is an isolated, internal market that has been relatively unaffected by the global liquidity crunch.
No comments:
Post a Comment