Kuala Lumpur, March 20, 2024 -- Cagamas Berhad (“Cagamas”/ “the Company”), the National Mortgage Corporation of Malaysia, was honoured with two prestigious awards - Best Issuer for Sustainable Finance (Malaysia) and Best Issuer, by leading financial publication The Asset at The Asset’s Triple A Sustainable Finance Awards 2024, in Hong Kong. The award was in recognition of Cagamas’ role in the facilitation of liquidity within a developing green capital market and supports the broader objective of transitioning to a low-carbon economy.
The Asset in a statement said, “Cagamas was among the proficient issuers that consistently tapped the capital markets, engaged with international and local currency investors, and opened sustainable financing channels in the form of green or social bonds. Cagamas also received strong reception and appreciation from investors, who showed significant demand for its trades, resulting in impressive price compression from its initial guidance.”
In brief
Cagamas Berhad says it received two honors at The Asset’s Triple A Sustainable Finance Awards 2024: Best Issuer for Sustainable Finance (Malaysia) and Best Issuer. The Kuala Lumpur-based company said the recognition reflects its work supporting liquidity in Malaysia’s developing green capital market and the broader shift toward a low-carbon economy. The Asset cited Cagamas’ capital-market activity, engagement with local and international currency investors, and use of green or social bonds to open sustainable funding channels. Cagamas President and Chief Executive Officer Kameel Abdul Halim said the company aims to support affordable and green housing, financial inclusion, and community well-being. The awards evaluate issuers’ strategies, transaction execution and impact, along with their sustainability performance and initiatives.
Key takeaways
- Cagamas received two awards at The Asset’s Triple A Sustainable Finance Awards 2024.
- The honors were Best Issuer for Sustainable Finance (Malaysia) and Best Issuer.
- The Asset cited the company’s sustainable financing activity and engagement with investors.
- Cagamas CEO Kameel Abdul Halim said the company supports green housing and financial inclusion.
“We are delighted to receive these awards from The Asset, which reflect our commitment to support the development of the green capital market in Malaysia and the region. As the Mortgage Corporation of Malaysia, we have a unique opportunity and responsibility to promote affordable and green housing, as well as to support the financial inclusion and social well- being of the communities that we serve,” said Kameel Abdul Halim, President/Chief Executive Officer of Cagamas.
He added, “We are grateful for the strong support from our stakeholders who have enabled us to achieve these milestones. We will continue to prioritise innovation and collaboration to broaden our funding avenues and diversify our investor base.”
The Asset’s Sustainable Finance Awards honour the past-quarter century’s market-defining issuers that helped chart the region’s rise. The awards are based on a rigorous evaluation process that considers the issuer’s strategy, execution, outcome, and impact of the transactions, as well as the issuer’s overall sustainability performance and initiatives.
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Questions around this news
Which awards did Cagamas receive at The Asset’s 2024 Sustainable Finance Awards?
Cagamas received two awards in Hong Kong: Best Issuer for Sustainable Finance (Malaysia) and Best Issuer. The release says the recognition reflected the company’s contribution to liquidity in Malaysia’s developing green capital market and its support for the transition to a low-carbon economy.
How were the Sustainable Finance Awards judged?
The release says the awards assess an issuer’s strategy, transaction execution, outcomes and impact, alongside its overall sustainability performance and initiatives. It characterizes the process as rigorous and says the awards recognize issuers whose work helped shape the region’s markets.
What are green bonds and social bonds?
Green bonds are debt instruments whose proceeds are designated for projects with environmental aims, such as renewable energy or energy efficiency. Social bonds direct proceeds toward projects intended to address social needs, such as access to essential services or affordable housing. The specific eligibility rules and reporting practices depend on the issuer and the bond framework.
