Cagamas Raised Rm8.15 Billion In First Half Of 2024

Kuala Lumpur, July 5, 2024 -- Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced that it had successfully raised a cumulative total of RM 8.15 billion in the first half of 2024, comprising RM1.64 billion of Islamic Medium Term Notes (IMTN), RM2.08 billion Conventional Medium Term Notes (CMTNs), SGD70 million (RM244.62 million equivalent) Singapore Dollar Medium Term Notes (SGD EMTNs) issued via the Company’s wholly-owned subsidiary, Cagamas Global P.L.C, RM2.38 billion Islamic Commercial Papers (ICPs), RM0.51 billion Conventional Commercial Papers (CCPs), and RM1.3 billion through other sources of funding.

Kameel Abdul Halim, President/Chief Executive Officer of Cagamas, reiterated the Company’s continued commitment to supporting home ownership and the growth of the secondary mortgage market in Malaysia. He said, “Cagamas has demonstrated resilience by providing liquidity to asset-selling institutions, successfully raising RM8.15 billion in the first half of 2024.”

Highlighting Cagamas’ financial intermediary role in the banking sector, Kameel added, “Our effective funding strategy and ongoing investor confidence in the Company have contributed to our healthy performance in the fund raising activities, underscoring the strategic importance of Cagamas within the financial ecosystem.”

The Company’s issuances will be redeemed at their full nominal value upon maturity, are unsecured obligations of the Company, ranking pari passu with all other existing unsecured obligations of the Company.

About Cagamas

Cagamas Berhad (Cagamas), the National Mortgage Corporation of Malaysia, was established in 1986 to promote the broader spread of home ownership and growth of the secondary mortgage market in Malaysia. It issues bonds and sukuk to finance the purchase of housing loans from financial institutions and non-financial institutions. The provision of liquidity to financial institutions at a reasonable cost to the primary lenders of housing loans encourages further expansion of financing for houses at an affordable cost. 

The Cagamas model is well regarded by the World Bank as the most successful secondary mortgage liquidity facility. Cagamas is the second largest issuer of debt instruments after the Government of Malaysia and the largest issuer of AAA corporate bonds and sukuk in the market. Since incorporation in 1986, Cagamas Group has cumulatively raised circa RM431.9 billion worth of corporate bond/sukuk and others. 

Cagamas’ bonds and sukuk continue to be assigned the highest ratings of AAA/Stable/P1 by RAM Rating Services Berhad and AAA/MARC-1 and AAAIS/MARC-1IS by Malaysian Rating Corporation Berhad, denoting its strong credit quality. Cagamas is also well regarded internationally and has been assigned local and foreign currency long-term issuer ratings of A3 by Moody’s Investors Service Inc. that are in line with Malaysian sovereign ratings.

Cagamas Berhad
Registration No. 198601008739 (157931-A)
Level 32, The Gardens North Tower
Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur
Tel: +603 - 2262 1800 I Fax: +603 - 2282 9125
www.cagamas.com.my

Media Enquiries
Leanne Susau
Tel: +603 - 2262 1719
[email protected]

Lucia Wee
Tel: +603 - 2262 1868
[email protected]

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