Malaysia : Bond Market Development
This paper pertains to the bond market development in Malaysia, and provides an overview of the market scenario in the country. Malaysia has been successful in developing the capital markets, particularly bond markets, in the recent past. Now, it f...
| Main Authors: | , |
|---|---|
| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/01/18639187/malaysia-bond-market-development-technical-note http://hdl.handle.net/10986/16713 |
| id |
okr-10986-16713 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO CAPITAL ACCESS TO INFORMATION ASSET BASE ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET MANAGERS BACKED SECURITIES BALANCE SHEET BALANCE SHEETS BANK BRANCHES BANKING INSTITUTION BANKING SECTOR BANKING SYSTEM BID BOND BOND FUNDS BOND INSTRUMENTS BOND INVESTMENTS BOND ISSUANCE BOND ISSUES BOND MARKET BOND MARKET ACCESS BOND MARKET DEVELOPMENT BOND MARKETS BOND PRICE BOND TRADING BOND YIELD BRANCH NETWORKS BROKER BROKERS CAPITAL MARKET CAPITAL MARKETS CASH FLOWS COLLATERAL CONTINGENT LIABILITIES CORPORATE BOND CORPORATE BOND MARKET CORPORATE BONDS CORPORATE DEFAULT CORPORATE GOVERNANCE COUPON CREDIT GUARANTEE CREDIT LINE CREDIT RATING CREDIT RATING AGENCIES CREDIT RISK CREDIT RISKS DEBT INSTRUMENTS DEBT ISSUER DEBT MARKET DEBT SECURITIES DEBT SECURITIES MARKET DEBTORS DEFAULT RATE DEFAULTS DEPOSITORY INSTITUTION DEPOSITORY INSTITUTIONS DEPOSITORY SYSTEMS DEPOSITS DEVELOPMENT BANK DEVELOPMENT OF DOMESTIC BOND DOMESTIC BANKS DOMESTIC CREDIT DOMESTIC CREDIT RATING EMERGING MARKET EMERGING MARKETS EQUITIES EQUITY FUNDS EQUITY INSTRUMENTS EQUITY INVESTMENTS EQUITY MARKET EQUITY MARKETS EXTERNAL CREDIT RATINGS FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL MARKET FINANCIAL SECTOR INTERMEDIARIES FIXED INCOME FIXED INCOME INVESTMENTS FIXED INCOME MARKET FIXED INCOME MARKETS FIXED INCOME PORTFOLIOS FOREIGN EXCHANGE FOREIGN INVESTOR FOREIGN INVESTORS FUND MANAGEMENT FUND MANAGERS FUTURE CASH FLOWS GOVERNANCE STANDARDS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS GOVERNMENT SECURITIES HIGH-YIELD DEBT HOLDINGS HOUSING FINANCE ILLIQUID SECURITIES IMPLICIT GOVERNMENT GUARANTEES INCOME INSTRUMENTS INDIVIDUAL INVESTORS INFRASTRUCTURE DEVELOPMENT INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INSURANCE PRODUCTS INTERNATIONAL BANK INVESTING INVESTMENT DECISIONS INVESTMENT OPPORTUNITIES INVESTMENT OPPORTUNITY INVESTMENT PORTFOLIO INVESTMENTS IN EQUITIES INVESTOR BASE INVESTOR INTEREST ISLAMIC BOND ISLAMIC CAPITAL ISLAMIC CAPITAL MARKET ISLAMIC FINANCE ISLAMIC FINANCIAL INSTITUTIONS ISSUANCE ISSUANCE OF BONDS ISSUANCES LEVEL PLAYING FIELD LIABILITY LIFE INSURANCE LIQUIDITY LIQUIDITY PROBLEMS LOCAL CURRENCY LONG-TERM INVESTMENT MARKET CAPITALIZATION MARKET EFFICIENCY MARKET INFRASTRUCTURE MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET MAKER MARKET MAKERS MARKET PARTICIPANTS MARKET RISK MARKET SHARE MARKET STRUCTURE MARKET SUPERVISION MARKET TRANSPARENCY MATURITY MONETARY FUND MONEY MARKET MONEY MARKET INSTRUMENTS MONEY-MARKET MORTGAGE LOANS MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUND MANAGERS MUTUAL FUNDS OWNERSHIP STRUCTURE PARTIAL GUARANTEE PENSION PENSION FUND PENSION FUNDS PENSIONS PORTFOLIO PORTFOLIO HOLDING PRICE DISCOVERY PRIMARY MARKET PRINCIPAL ASSET PRIVATE CREDIT PRIVATE DEBT PRIVATE DEBT MARKET PRIVATE EQUITIES PRIVATE PLACEMENT PROPERTY INVESTMENTS PUBLIC BANK PUBLIC DEBT PUBLIC DEBT SECURITIES REGULATORY FRAMEWORK RESERVES RESIDENTIAL MORTGAGE RETAIL INVESTOR RETAIL INVESTORS RETURN RETURNS RISK AVERSION RISK MANAGEMENT RISK OF DEFAULT RISK PROFILE RISK PROFILES SAVINGS RATE SECONDARY MARKET SECONDARY MARKETS SECURITIES INDUSTRY SECURITIES ISSUANCE SETTLEMENT SETTLEMENT SYSTEM SOVEREIGN RISK SUBORDINATED BONDS SUKUK T-BILLS TAX TAX DEDUCTIONS TAX EXEMPTION TAX INCENTIVE TAX INCENTIVES TAX TREATMENT TELECOMMUNICATIONS TRADING TRADING VENUE TRANCHES TRANSPARENCY TREASURIES TREASURY TRUST FUND TRUST FUNDS TYPE OF INVESTORS VALUATION WITHDRAWAL |
| spellingShingle |
ACCESS TO CAPITAL ACCESS TO INFORMATION ASSET BASE ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET MANAGERS BACKED SECURITIES BALANCE SHEET BALANCE SHEETS BANK BRANCHES BANKING INSTITUTION BANKING SECTOR BANKING SYSTEM BID BOND BOND FUNDS BOND INSTRUMENTS BOND INVESTMENTS BOND ISSUANCE BOND ISSUES BOND MARKET BOND MARKET ACCESS BOND MARKET DEVELOPMENT BOND MARKETS BOND PRICE BOND TRADING BOND YIELD BRANCH NETWORKS BROKER BROKERS CAPITAL MARKET CAPITAL MARKETS CASH FLOWS COLLATERAL CONTINGENT LIABILITIES CORPORATE BOND CORPORATE BOND MARKET CORPORATE BONDS CORPORATE DEFAULT CORPORATE GOVERNANCE COUPON CREDIT GUARANTEE CREDIT LINE CREDIT RATING CREDIT RATING AGENCIES CREDIT RISK CREDIT RISKS DEBT INSTRUMENTS DEBT ISSUER DEBT MARKET DEBT SECURITIES DEBT SECURITIES MARKET DEBTORS DEFAULT RATE DEFAULTS DEPOSITORY INSTITUTION DEPOSITORY INSTITUTIONS DEPOSITORY SYSTEMS DEPOSITS DEVELOPMENT BANK DEVELOPMENT OF DOMESTIC BOND DOMESTIC BANKS DOMESTIC CREDIT DOMESTIC CREDIT RATING EMERGING MARKET EMERGING MARKETS EQUITIES EQUITY FUNDS EQUITY INSTRUMENTS EQUITY INVESTMENTS EQUITY MARKET EQUITY MARKETS EXTERNAL CREDIT RATINGS FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL MARKET FINANCIAL SECTOR INTERMEDIARIES FIXED INCOME FIXED INCOME INVESTMENTS FIXED INCOME MARKET FIXED INCOME MARKETS FIXED INCOME PORTFOLIOS FOREIGN EXCHANGE FOREIGN INVESTOR FOREIGN INVESTORS FUND MANAGEMENT FUND MANAGERS FUTURE CASH FLOWS GOVERNANCE STANDARDS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS GOVERNMENT SECURITIES HIGH-YIELD DEBT HOLDINGS HOUSING FINANCE ILLIQUID SECURITIES IMPLICIT GOVERNMENT GUARANTEES INCOME INSTRUMENTS INDIVIDUAL INVESTORS INFRASTRUCTURE DEVELOPMENT INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INSURANCE PRODUCTS INTERNATIONAL BANK INVESTING INVESTMENT DECISIONS INVESTMENT OPPORTUNITIES INVESTMENT OPPORTUNITY INVESTMENT PORTFOLIO INVESTMENTS IN EQUITIES INVESTOR BASE INVESTOR INTEREST ISLAMIC BOND ISLAMIC CAPITAL ISLAMIC CAPITAL MARKET ISLAMIC FINANCE ISLAMIC FINANCIAL INSTITUTIONS ISSUANCE ISSUANCE OF BONDS ISSUANCES LEVEL PLAYING FIELD LIABILITY LIFE INSURANCE LIQUIDITY LIQUIDITY PROBLEMS LOCAL CURRENCY LONG-TERM INVESTMENT MARKET CAPITALIZATION MARKET EFFICIENCY MARKET INFRASTRUCTURE MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET MAKER MARKET MAKERS MARKET PARTICIPANTS MARKET RISK MARKET SHARE MARKET STRUCTURE MARKET SUPERVISION MARKET TRANSPARENCY MATURITY MONETARY FUND MONEY MARKET MONEY MARKET INSTRUMENTS MONEY-MARKET MORTGAGE LOANS MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUND MANAGERS MUTUAL FUNDS OWNERSHIP STRUCTURE PARTIAL GUARANTEE PENSION PENSION FUND PENSION FUNDS PENSIONS PORTFOLIO PORTFOLIO HOLDING PRICE DISCOVERY PRIMARY MARKET PRINCIPAL ASSET PRIVATE CREDIT PRIVATE DEBT PRIVATE DEBT MARKET PRIVATE EQUITIES PRIVATE PLACEMENT PROPERTY INVESTMENTS PUBLIC BANK PUBLIC DEBT PUBLIC DEBT SECURITIES REGULATORY FRAMEWORK RESERVES RESIDENTIAL MORTGAGE RETAIL INVESTOR RETAIL INVESTORS RETURN RETURNS RISK AVERSION RISK MANAGEMENT RISK OF DEFAULT RISK PROFILE RISK PROFILES SAVINGS RATE SECONDARY MARKET SECONDARY MARKETS SECURITIES INDUSTRY SECURITIES ISSUANCE SETTLEMENT SETTLEMENT SYSTEM SOVEREIGN RISK SUBORDINATED BONDS SUKUK T-BILLS TAX TAX DEDUCTIONS TAX EXEMPTION TAX INCENTIVE TAX INCENTIVES TAX TREATMENT TELECOMMUNICATIONS TRADING TRADING VENUE TRANCHES TRANSPARENCY TREASURIES TREASURY TRUST FUND TRUST FUNDS TYPE OF INVESTORS VALUATION WITHDRAWAL International Monetary Fund World Bank Malaysia : Bond Market Development |
| geographic_facet |
East Asia and Pacific Malaysia |
| description |
This paper pertains to the bond market
development in Malaysia, and provides an overview of the
market scenario in the country. Malaysia has been successful
in developing the capital markets, particularly bond
markets, in the recent past. Now, it faces the challenge of
how to improve broader access and efficiency of the bond
market. A high degree of investor concentration, dominated
by government pension funds, plays a significant role in
impeding the growth of higher-yield bond market. The role of
the government in stimulating the growth of the bond markets
should be now shifted toward encouraging more diversity. In
order to promote risk diversity, significant measures should
be taken to increase competition on the demand side. Another
important challenge for the bond markets going forward is
improving transparency to make them more attractive to a
broader constituency. To improve liquidity and transparency,
the authorities should encourage the establishment of open,
independent electronic platforms that integrate price
search, negotiation, and trading of bonds. It is felt that
while Malaysia has seen success in the bond markets, there
is scope for further improvement. |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
International Monetary Fund World Bank |
| author_facet |
International Monetary Fund World Bank |
| author_sort |
International Monetary Fund |
| title |
Malaysia : Bond Market Development |
| title_short |
Malaysia : Bond Market Development |
| title_full |
Malaysia : Bond Market Development |
| title_fullStr |
Malaysia : Bond Market Development |
| title_full_unstemmed |
Malaysia : Bond Market Development |
| title_sort |
malaysia : bond market development |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2013/01/18639187/malaysia-bond-market-development-technical-note http://hdl.handle.net/10986/16713 |
| _version_ |
1764434500817780736 |
| spelling |
okr-10986-167132021-04-23T14:03:32Z Malaysia : Bond Market Development International Monetary Fund World Bank ACCESS TO CAPITAL ACCESS TO INFORMATION ASSET BASE ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET MANAGERS BACKED SECURITIES BALANCE SHEET BALANCE SHEETS BANK BRANCHES BANKING INSTITUTION BANKING SECTOR BANKING SYSTEM BID BOND BOND FUNDS BOND INSTRUMENTS BOND INVESTMENTS BOND ISSUANCE BOND ISSUES BOND MARKET BOND MARKET ACCESS BOND MARKET DEVELOPMENT BOND MARKETS BOND PRICE BOND TRADING BOND YIELD BRANCH NETWORKS BROKER BROKERS CAPITAL MARKET CAPITAL MARKETS CASH FLOWS COLLATERAL CONTINGENT LIABILITIES CORPORATE BOND CORPORATE BOND MARKET CORPORATE BONDS CORPORATE DEFAULT CORPORATE GOVERNANCE COUPON CREDIT GUARANTEE CREDIT LINE CREDIT RATING CREDIT RATING AGENCIES CREDIT RISK CREDIT RISKS DEBT INSTRUMENTS DEBT ISSUER DEBT MARKET DEBT SECURITIES DEBT SECURITIES MARKET DEBTORS DEFAULT RATE DEFAULTS DEPOSITORY INSTITUTION DEPOSITORY INSTITUTIONS DEPOSITORY SYSTEMS DEPOSITS DEVELOPMENT BANK DEVELOPMENT OF DOMESTIC BOND DOMESTIC BANKS DOMESTIC CREDIT DOMESTIC CREDIT RATING EMERGING MARKET EMERGING MARKETS EQUITIES EQUITY FUNDS EQUITY INSTRUMENTS EQUITY INVESTMENTS EQUITY MARKET EQUITY MARKETS EXTERNAL CREDIT RATINGS FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL MARKET FINANCIAL SECTOR INTERMEDIARIES FIXED INCOME FIXED INCOME INVESTMENTS FIXED INCOME MARKET FIXED INCOME MARKETS FIXED INCOME PORTFOLIOS FOREIGN EXCHANGE FOREIGN INVESTOR FOREIGN INVESTORS FUND MANAGEMENT FUND MANAGERS FUTURE CASH FLOWS GOVERNANCE STANDARDS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS GOVERNMENT SECURITIES HIGH-YIELD DEBT HOLDINGS HOUSING FINANCE ILLIQUID SECURITIES IMPLICIT GOVERNMENT GUARANTEES INCOME INSTRUMENTS INDIVIDUAL INVESTORS INFRASTRUCTURE DEVELOPMENT INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INSURANCE PRODUCTS INTERNATIONAL BANK INVESTING INVESTMENT DECISIONS INVESTMENT OPPORTUNITIES INVESTMENT OPPORTUNITY INVESTMENT PORTFOLIO INVESTMENTS IN EQUITIES INVESTOR BASE INVESTOR INTEREST ISLAMIC BOND ISLAMIC CAPITAL ISLAMIC CAPITAL MARKET ISLAMIC FINANCE ISLAMIC FINANCIAL INSTITUTIONS ISSUANCE ISSUANCE OF BONDS ISSUANCES LEVEL PLAYING FIELD LIABILITY LIFE INSURANCE LIQUIDITY LIQUIDITY PROBLEMS LOCAL CURRENCY LONG-TERM INVESTMENT MARKET CAPITALIZATION MARKET EFFICIENCY MARKET INFRASTRUCTURE MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET MAKER MARKET MAKERS MARKET PARTICIPANTS MARKET RISK MARKET SHARE MARKET STRUCTURE MARKET SUPERVISION MARKET TRANSPARENCY MATURITY MONETARY FUND MONEY MARKET MONEY MARKET INSTRUMENTS MONEY-MARKET MORTGAGE LOANS MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUND MANAGERS MUTUAL FUNDS OWNERSHIP STRUCTURE PARTIAL GUARANTEE PENSION PENSION FUND PENSION FUNDS PENSIONS PORTFOLIO PORTFOLIO HOLDING PRICE DISCOVERY PRIMARY MARKET PRINCIPAL ASSET PRIVATE CREDIT PRIVATE DEBT PRIVATE DEBT MARKET PRIVATE EQUITIES PRIVATE PLACEMENT PROPERTY INVESTMENTS PUBLIC BANK PUBLIC DEBT PUBLIC DEBT SECURITIES REGULATORY FRAMEWORK RESERVES RESIDENTIAL MORTGAGE RETAIL INVESTOR RETAIL INVESTORS RETURN RETURNS RISK AVERSION RISK MANAGEMENT RISK OF DEFAULT RISK PROFILE RISK PROFILES SAVINGS RATE SECONDARY MARKET SECONDARY MARKETS SECURITIES INDUSTRY SECURITIES ISSUANCE SETTLEMENT SETTLEMENT SYSTEM SOVEREIGN RISK SUBORDINATED BONDS SUKUK T-BILLS TAX TAX DEDUCTIONS TAX EXEMPTION TAX INCENTIVE TAX INCENTIVES TAX TREATMENT TELECOMMUNICATIONS TRADING TRADING VENUE TRANCHES TRANSPARENCY TREASURIES TREASURY TRUST FUND TRUST FUNDS TYPE OF INVESTORS VALUATION WITHDRAWAL This paper pertains to the bond market development in Malaysia, and provides an overview of the market scenario in the country. Malaysia has been successful in developing the capital markets, particularly bond markets, in the recent past. Now, it faces the challenge of how to improve broader access and efficiency of the bond market. A high degree of investor concentration, dominated by government pension funds, plays a significant role in impeding the growth of higher-yield bond market. The role of the government in stimulating the growth of the bond markets should be now shifted toward encouraging more diversity. In order to promote risk diversity, significant measures should be taken to increase competition on the demand side. Another important challenge for the bond markets going forward is improving transparency to make them more attractive to a broader constituency. To improve liquidity and transparency, the authorities should encourage the establishment of open, independent electronic platforms that integrate price search, negotiation, and trading of bonds. It is felt that while Malaysia has seen success in the bond markets, there is scope for further improvement. 2014-01-30T15:11:11Z 2014-01-30T15:11:11Z 2013-01 http://documents.worldbank.org/curated/en/2013/01/18639187/malaysia-bond-market-development-technical-note http://hdl.handle.net/10986/16713 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work East Asia and Pacific Malaysia |