Cagamas eyes new investors for its first non-ringgit sukuk in 2015

Kuala Lumpur

MALAYSIA'S Cagamas Bhd will target new investors across the Middle East and Europe for its first foreign-currency sukuk this year. The state-backed mortgage lender set up a US$2.5 billion multi-currency sukuk programme in November, after issuing conventional bonds in yuan, Hong Kong dollars and US dollars that year.

"We would have to look into new markets where we have not interacted with investors yet, for example the Middle East, the greater part of Europe, Taiwan and Japan," said chief executive officer Chung Chee Leong.