PETALING JAYA: Khazanah Nasional Bhd has issued its first offshore yuan-denominated sukuk of 500 million yuan (RM246mil) via Danga Capital Bhd, a Malaysian-incorporated special purpose vehicle.
The three-year benchmark sukuk was priced through a book-building process on Oct 13 and at the tightest end of the price guidance at 2.90%, the company said in a statement.
The transaction drew a demand of 3.6 times book size, enabling Khazanah to upsize the deal to 500 million yuan from an earlier announced 300 million yuan.
Khazanah said its investors comprised financial institutions, asset management companies, private banks and statutory bodies from Malaysia, Singapore, Hong Kong, the Middle East and Europe.
Issued under the Malaysia International Islamic Financial Centre initiative, it is the world’s first Emas Sukuk denominated in yuan. The sukuk will be listed on Bursa Malaysia (Exempt Regime) and Labuan International Financial Exchange.(The Star Online)
Friday, October 14, 2011
New service charter for commercial banks
PETALING JAYA: The Association of Banks in Malaysia (ABM) has introduced a standardised template for a customer service charter for commercial banks to improve efficiency and accountability towards consumerism.
The initiative, a collaboration between ABM and its members, is the next service launched following the well-received partner initiative last year which focuses on streamlining and simplifying processes and procedures of loan applications for small and medium enterprises.
Executive director Chuah Mei Lin said that aside from improving standards of service and build stronger customer-banker relationship, “the customer service charter also sets out the time frames within which a customer can expect the banks respectively to deliver the services highlighted”.
“In this manner, customers will be better equipped to set their expectations accordingly when conducting business with a particular bank,” she added, acknowledging that banks had to keep up with customers’ needs and maintain high-standard customer service in the competitive banking climate.
With the charter, customers can review all the information furnished and use the turnaround times as a comparative tool to select banking services.
Most member banks have posted their charters on their website and banking halls and a standardised template can be found on ABM’s website too.(The Star Online)
The initiative, a collaboration between ABM and its members, is the next service launched following the well-received partner initiative last year which focuses on streamlining and simplifying processes and procedures of loan applications for small and medium enterprises.
Executive director Chuah Mei Lin said that aside from improving standards of service and build stronger customer-banker relationship, “the customer service charter also sets out the time frames within which a customer can expect the banks respectively to deliver the services highlighted”.
“In this manner, customers will be better equipped to set their expectations accordingly when conducting business with a particular bank,” she added, acknowledging that banks had to keep up with customers’ needs and maintain high-standard customer service in the competitive banking climate.
With the charter, customers can review all the information furnished and use the turnaround times as a comparative tool to select banking services.
Most member banks have posted their charters on their website and banking halls and a standardised template can be found on ABM’s website too.(The Star Online)
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