BPAM’s weekly bond market snapshot provides an overview of some key indicators of the Malaysian Ringgit bond and sukuk market.:
- FTSE BPAM Bond Index Charts: Show the performance of the All Bond, All Sukuk, All Government Bond and All Corporate Bond Indices over the week. It can be looked at the same way as a stock market index (ie. Up = Bull Market, Down = Bear Market)
- Constant Maturity YTM Curve Charts: Show the yield-to-maturity (YTM) curves for bonds and sukuk (ie the return for a given level of risk) for 1-30 year maturities. It is a measure of the return given by a bond for the price paid.
- The BIR (BPAM Market Implied Ratings) is a statistically derived rating scale based on the daily yield levels of the bonds and sukuk. It is fundamentally different from the Credit Rating (CR) as provided by Rating Agencies.The BIR and CR can be compared to obtain the deviations and notch changes.
This data is derived from the databases of Bond Pricing Agency Malaysia Sdn Bhd, a registered Bond Pricing Agency with the Securities Commission of Malaysia. For more information, visit www.bpam.com.my
WEEKLY RINGGIT BOND MARKET SNAPSHOT between 02/12/2024 to 06/12/2024
FTSE BPAM Bond Index Series
|
|
|
| Index Value (This Week Close): |
211.406 |
|
Index Value (This Week Close): |
199.824 |
| Index Value (Last Week Close): |
211.071 |
|
Index Value (Last Week Close): |
199.483 |
| Week On Week Change: |
0.335  |
|
Week On Week Change: |
0.341 |
| % Change: |
0.159 % |
|
% Change: |
0.171 % |
|
|
|
| Index Value (This Week Close): |
219.165 |
|
Index Value (This Week Close): |
236.721 |
| Index Value (Last Week Close): |
218.829 |
|
Index Value (Last Week Close): |
236.467 |
| Week On Week Change: |
0.336 |
|
Week On Week Change: |
0.254 |
| % Change: |
0.154 % |
|
% Change: |
0.107 % |
|
Constant Maturity YTM Curve
|
Constant Maturity Conventional Yield-To-Maturity
|
| MGS |
3.269 |
3.415 |
3.497 |
3.591 |
3.747 |
3.805 |
3.938 |
4.047 |
4.120 |
4.199 |
| Quasi-Govt |
3.487 |
3.610 |
3.727 |
3.817 |
3.903 |
3.963 |
4.077 |
4.167 |
4.227 |
4.293 |
| AAA |
3.620 |
3.740 |
3.820 |
3.910 |
3.990 |
4.050 |
4.140 |
4.230 |
4.310 |
4.390 |
| AA |
3.760 |
3.870 |
3.950 |
4.060 |
4.160 |
4.230 |
4.420 |
4.620 |
4.810 |
4.950 |
| A |
4.750 |
5.090 |
5.410 |
5.800 |
6.110 |
6.520 |
7.060 |
7.500 |
7.880 |
8.240 |
| BBB |
6.120 |
6.690 |
7.210 |
7.870 |
8.460 |
9.140 |
9.940 |
10.670 |
11.370 |
12.030 |
|
Constant Maturity Islamic Yield-To-Maturity
|
| GII |
3.272 |
3.355 |
3.450 |
3.629 |
3.746 |
3.798 |
3.962 |
4.103 |
4.144 |
4.188 |
| Quasi-Govt |
3.487 |
3.610 |
3.727 |
3.817 |
3.903 |
3.963 |
4.077 |
4.167 |
4.227 |
4.293 |
| AAA |
3.620 |
3.740 |
3.820 |
3.910 |
3.990 |
4.050 |
4.140 |
4.230 |
4.310 |
4.390 |
| AA |
3.760 |
3.870 |
3.950 |
4.060 |
4.160 |
4.230 |
4.420 |
4.620 |
4.810 |
4.950 |
| A |
4.750 |
5.090 |
5.410 |
5.800 |
6.110 |
6.520 |
7.060 |
7.500 |
7.880 |
8.240 |
| BBB |
6.120 |
6.690 |
7.210 |
7.870 |
8.460 |
9.140 |
9.940 |
10.670 |
11.370 |
12.030 |
|
BIR-CR Divergence Statistics on 06/12/2024
| Status |
BIR < CR |
BIR = CR |
BIR > CR |
| % |
42.00% |
36.00% |
22.00% |
|
| Note: 'BIR<CR' shows bonds where its BPAM Market Implied Rating (BIR) is worse than Credit Rating (CR), and vice versa. |
Top 10 BIR-CR Deviations for Traded Bonds of the Week
| TRADE DATE |
STOCK CODE |
STOCK NAME |
CR ON TRADE DATE |
BIR ON TRADE DATE |
CR-BIR DIVERGENCE |
CR-BIR NOTCH DIFFERENCE |
| 05-Dec-2024 |
UI220099 |
GENTING RMTN MTN 1826D 25.3.2027 - Tranche 3 |
AA1 |
A2 |
BIR < CR |
4 |
| 06-Dec-2024 |
US120031 |
GENTING CAP MTN 4.86% 08.6.2027 - Issue No. 2 |
AA1 |
A1 |
BIR < CR |
3 |
| 02-Dec-2024 |
VS220391 |
ALR IMTN TRANCHE 13 13.10.2037 |
AAA |
AA3 |
BIR < CR |
3 |
| 04-Dec-2024 |
US190346 |
GENTING RMTN MTN 5479D 08.11.2034 - Tranche 2 |
AA1 |
A1 |
BIR < CR |
3 |
| 06-Dec-2024 |
UI240171 |
GENM CAPITAL MTN 1826D 31.5.2029 |
AA1 |
A1 |
BIR < CR |
3 |
| 04-Dec-2024 |
PZ240023 |
ALLIANCEB 4.850% 08.11.2117 (TRANCHE 006) |
BBB1 |
A1 |
CR < BIR |
3 |
| 05-Dec-2024 |
VN240164 |
BENIH RESTU IMTN 28.07.2034 |
AA2 |
AAA |
CR < BIR |
2 |
| 02-Dec-2024 |
UZ220144 |
HLBB Perpetual Green Capital Securities 4.45% (T3) |
A1 |
AA2 |
CR < BIR |
2 |
| 02-Dec-2024 |
US200250 |
ALLIANCEB MTN 5477D 26.10.2035 |
A2 |
AA3 |
CR < BIR |
2 |
| 02-Dec-2024 |
VQ220390 |
ALR IMTN TRANCHE 12 12.10.2035 |
AAA |
AA2 |
BIR < CR |
2 |
|
| Note: List shows traded bonds by Notch Difference and Market Capitalisation |
Top 10 BIR Notch Changes Over a Week
| STOCK CODE |
STOCK NAME |
CR ON END DATE |
BIR ON END DATE |
BIR ON START DATE |
END BIR - START BIR STATUS |
END BIR - START BIR NOTCH DIFFERENCE |
| VN200219 |
MAYBANK IMTN 2.900% 09.10.2030 |
AA1 |
AA1 |
AA2 |
UPGRADE |
1 |
| VN240164 |
BENIH RESTU IMTN 28.07.2034 |
AA2 |
AAA |
AA1 |
UPGRADE |
1 |
| UN220304 |
UOBM MTN 3653D 27.10.2032 |
AA1 |
AA1 |
AAA |
DOWNGRADE |
1 |
| UZ220144 |
HLBB Perpetual Green Capital Securities 4.45% (T3) |
A1 |
AA3 |
AA2 |
DOWNGRADE |
1 |
| VN160330 |
BPMB IMTN 4.50% 04.11.2026 - Issue No 7 |
AAA |
AA1 |
AAA |
DOWNGRADE |
1 |
| VI210433 |
UMWH IMTN 3.880% 24.11.2026 |
AA1 |
AA1 |
AAA |
DOWNGRADE |
1 |
| VI230471 |
CIMBI IMTN 4.020% 30.11.2028 - Series 2 Tranche 2 |
AAA |
AA1 |
AAA |
DOWNGRADE |
1 |
| VK210045 |
PSEP IMTN 3.800% 17.03.2028 |
AAA |
AA1 |
AAA |
DOWNGRADE |
1 |
| VN220272 |
PIBB T4 SubSukuk Murabahah 4.40% 28.07.2032 |
AA1 |
AAA |
AA1 |
UPGRADE |
1 |
| VP240048 |
YTL POWER IMTN 4.180% 18.03.2036 |
AA1 |
AA1 |
AAA |
DOWNGRADE |
1 |
|
| Note: List is by Notch Difference and Market Capitalisation |
Disclaimer
Information on this page is intended solely for the purpose of providing general information on the
Ringgit Bond market and is not intended for trading purposes. None of the information constitutes a
solicitation, offer, opinion, or recommendation by Bond Pricing Agency Malaysia Sdn Bhd [200401028895 (667403-U)] to buy or sell any security, or
to provide legal, tax, accounting, or investment advice or services regarding the profitability or
suitability of any security or investment. Investors are advised to consult their professional
investment advisors before making any investment decision. Materials provided on this page are provided
on an "as is" basis, and while care has been taken to ensure the accuracy and reliability of the
information provided in this page, Bond Pricing Agency Malaysia Sdn Bhd [200401028895 (667403-U)] provides no warranties or representations
of any kind, either express or implied, including, but not limited to, warranties of title or implied
warranties of fitness for a particular purpose, accuracy, correctness, non-infringement, timeliness,
completeness, or that the information is always up-to-date.
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