Malaysia warms to benefits of ABS

The Securities Commission''s guidelines for ABS issuance should lead to a Malaysian securitization market emerging.

Malaysia has become the latest Asian nation to look towards securitization as a means for its corporates to raise funds, following the recent setting out of comprehensive guidelines for asset-backed securities ABS issuance from the Securities Commission SC.

Although there have been limited examples of small-scale private ABS activity, nothing approaching a 'true' securitization issue has ever emerged out of Malaysia. True in this context refers to a situation where selected assets are transferred off a company's balance sheets into a bankruptcy remote special purpose vehicle SPV.

In Malaysia, the legal and regulatory framework for securitization has previously been sketchy, to say the least, with it being unclear whether potential issuers would...

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