KUALA LUMPUR: Malaysia’s debt capital market issuance for the second half of 2024 is expected to match 1H levels or fall, driven by the government’s gradual fiscal consolidation, with the federal deficit expected to fall in the near term, said Fitch Ratings.
Malaysia’s DCM expanded by 4.4 per cent year-on-year to cross US$550 billion outstanding at end-1H2024 as the DCM faces risks from the ringgit, rates, commodity price volatilities, and global geopolitical events, said Fitch. Fitch global head of Islamic finance Bashar Al Natoor said sukuk is likely to stay dominant in the DCM due to a supportive ecosystem.
The firm rates US$16 billion of Malaysian sukuk, all investment grade, with issuers on a"Stable” outlook.
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