Growth and Outlook of Asset-Backed Securitization in The Malaysian Capital Market: The Case Study of Sunway City Berhad
Asset-Backed Securitization (ABS) was introduced in Malaysia in 2001. This timely study overviews the structure of ABS in the Malaysian capital market, examines the securitization mechanism, and measures the growth and performance over the period from 2001 to 2005. The results reveal a robust gr...
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my.usim-53082015-03-02T02:33:43Z Growth and Outlook of Asset-Backed Securitization in The Malaysian Capital Market: The Case Study of Sunway City Berhad Norazlina Ripain Roslan Ali Antoaneta Serguieva Shafinar Ismail Securitisation mechanism Securitisation structure Conventional and Islamic ABS Debt Earnings Asset-Backed Securitization (ABS) was introduced in Malaysia in 2001. This timely study overviews the structure of ABS in the Malaysian capital market, examines the securitization mechanism, and measures the growth and performance over the period from 2001 to 2005. The results reveal a robust growth in overall, with a significant increase of 200?'0 in 2003. Furthermore, Islamic ABS was introduced in 2003, and their issuance size in 2005 was worth RM5.2 billion, thus surpassing the Conventional ABS with an issuance value of RM4.2 billion. We also consider company performance, specifically on the originator perspective, and focus on the cormmercial property sector. The results reveal that after securitizing their assets, the originators manage a reduction in debt obligations and an enhancement in earning capacities. The study concludes with the benefits that a transfer of knowledge on ABS can bring to organizational performance and to investors' portfolios. The authors believe that ABS shall become a premier altenative debt financing to companies and a portfolio diversification tool to investors in the Malaysian capital market. 2012-02-17T08:31:01Z 2012-02-17T08:31:01Z 2006 Article 1823075X http://ddms.usim.edu.my/handle/123456789/5308 en vol.3 no.1 2006; Universiti Sains Islam Malaysia |
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Securitisation mechanism Securitisation structure Conventional and Islamic ABS Debt Earnings |
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Securitisation mechanism Securitisation structure Conventional and Islamic ABS Debt Earnings Norazlina Ripain Roslan Ali Antoaneta Serguieva Shafinar Ismail Growth and Outlook of Asset-Backed Securitization in The Malaysian Capital Market: The Case Study of Sunway City Berhad |
description |
Asset-Backed Securitization (ABS) was introduced in Malaysia in 2001.
This timely study overviews the structure of ABS in the Malaysian
capital market, examines the securitization mechanism, and measures
the growth and performance over the period from 2001 to 2005. The
results reveal a robust growth in overall, with a significant increase of
200?'0 in 2003. Furthermore, Islamic ABS was introduced in 2003, and
their issuance size in 2005 was worth RM5.2 billion, thus surpassing the
Conventional ABS with an issuance value of RM4.2 billion. We also
consider company performance, specifically on the originator
perspective, and focus on the cormmercial property sector. The results
reveal that after securitizing their assets, the originators manage a
reduction in debt obligations and an enhancement in earning capacities.
The study concludes with the benefits that a transfer of knowledge on
ABS can bring to organizational performance and to investors'
portfolios. The authors believe that ABS shall become a premier
altenative debt financing to companies and a portfolio diversification
tool to investors in the Malaysian capital market. |
format |
Article |
author |
Norazlina Ripain Roslan Ali Antoaneta Serguieva Shafinar Ismail |
author_facet |
Norazlina Ripain Roslan Ali Antoaneta Serguieva Shafinar Ismail |
author_sort |
Norazlina Ripain |
title |
Growth and Outlook of Asset-Backed Securitization in The Malaysian Capital Market: The Case Study of Sunway City Berhad |
title_short |
Growth and Outlook of Asset-Backed Securitization in The Malaysian Capital Market: The Case Study of Sunway City Berhad |
title_full |
Growth and Outlook of Asset-Backed Securitization in The Malaysian Capital Market: The Case Study of Sunway City Berhad |
title_fullStr |
Growth and Outlook of Asset-Backed Securitization in The Malaysian Capital Market: The Case Study of Sunway City Berhad |
title_full_unstemmed |
Growth and Outlook of Asset-Backed Securitization in The Malaysian Capital Market: The Case Study of Sunway City Berhad |
title_sort |
growth and outlook of asset-backed securitization in the malaysian capital market: the case study of sunway city berhad |
publisher |
Universiti Sains Islam Malaysia |
publishDate |
2012 |
url |
http://ddms.usim.edu.my/handle/123456789/5308 |
_version_ |
1645151640254152704 |
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13.214268 |