myLIFEinvest

Then...???? ----- thestar:Thursday March 22, 2012 Biggest abandoned housing project in M'sia to be revived By DANIEL KHOO danielkhoo@thestar.com.my MBSB to the rescue KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) will finance the builder and buyers of Malaysia's biggest abandoned housing project, located in Bandar Baru Salak Tinggi, Sepang as part of its efforts to resolve its corporate legacy accounts issue. MBSB, which is 65.5%-owned by the Employees Provident Fund (EPF), will provide term and bridging finance facilities of up to RM215mil to builder NCT United Development Sdn Bhd (NCT), and an additional RM243mil to the buyers, said MBSB CEO Datuk Ahmad Zaini Othman. “When the new management (of MBSB) came in in 2009, we wanted to find a way on how we can resolve these legacy problems. “And one of the ways is to support this project through NCT to revive the project. Ahmad Zaini: ‘This is a big step for us. Hopefully it will be a win-...

EPF not funding the project.... but bond will...??? Refer to previous post.... "EPF to boost sukuk holding...???" ????? Don't understand neither...... ----- Thestar: Tuesday March 20, 2012 Dana Infra to issue bonds worth RM8bil for MRT project By RISEN JAYASEELAN risen@thestar.com.my PETALING JAYA: Dana Infra Nasional Bhd would be issuing bonds worth RM8bil in the second half of this year to finance the construction of the My Rapid Transit (MRT) project, less than the RM20bil to RM30bil initially expected, banking sources said. There is also a likelihood that due to the delay in the bond issuance, the initial bridging loan of RM500mil from a consortium of banks to cover early building work would be raised to a “couple of billion ringgit” so that the MRT project would not suffer any delay, said the source. “The RM8bil bond issuance then would repay the bridging loan,” said the source. Banking sources also said that Malayan Banking Bhd , CIMB B...

Lets see what is EPF plan now... -------- Wednesday March 14, 2012 EPF to boost sukuk holdings Kuala Lumpur: The Employees Provident Fund (EPF) plans to increase holdings of global Islamic bonds to US$3bil by 2013 from US$1.7bil, chief executive officer Azlan Zainol said. Syariah -compliant notes accounted for 1.5% of EPF’s total bond allocation and the plan was to increase it to 2.5% by 2013, Azlan said in an interview. The company started a programme to buy sukuk in October 2010. “I’d like to go into more Islamic bonds,” said Azlan, who manages the RM470bil fund. “We want to contribute towards making Malaysia the Islamic financial hub.” Malaysia pioneered syariah-compliant finance more than 30 years ago and is the world’s biggest market for sukuk. Global sales of the debt totalled US$8.2bil this year, compared with US$4.5bil a year earlier, according to data compiled by Bloomberg . Offerings reached a record US$36.3bil last year. EPF planned to broaden its...

What is bond? For sure it is not the James Bond the movie...   Question: What is a Bond? Answer: A Bond is simply an 'IOU' in which an investor agrees to loan money to a company or government in exchange for a predetermined interest rate. If a business wants to expand, one of its options is to borrow money from individual investors, pension funds, or mutual funds. The company issues bonds at various interest rates and sells them to the public. Investors purchase them with the understanding that the company will pay back their original principal (the amount the investor loaned to the company) plus any interest that is due by a set date (this is called the "maturity" date). Then if Malaysia to sell bond then to whom? International? What security will support the bond? Syariah compliance? Malaysia to sell RM90b worth of bonds in 2012   Jan 31, 2012 ...