bir - Bond Pricing Agency Malaysia Sdn Bhd

WEEKLY UPDATE FOR
BPAM MARKET IMPLIED RATING (BIR)
09 JUN 2014 TO 13 JUN 2014
1) Introduction
This report contains BPAM Market Implied Rating (BIR) updates for Ringgit bond market for the week under review.
2) BIR-CR Divergence Statistics on 13 Jun 2014
BIR < CR
STATUS
%
BIR = CR
29.0%
BIR > CR
48.0%
23.0%
Note: 'BIR<CR' shows bonds where its BPAM Market Implied Rating (BIR) is worse than Credit Rating (CR), and vice versa.
3) Top 10 BIR-CR Deviations for Traded Bonds of the Week
CR ON
TRADE
DATE
TRADE DATE BOND CODE BOND NAME
11-Jun-14
13-Jun-14
11-Jun-14
10-Jun-14
13-Jun-14
11-Jun-14
13-Jun-14
13-Jun-14
10-Jun-14
11-Jun-14
UN110016
UG120029
UI090098
UO110054
PN120078
VI120392
PZ090011
PS100054
UN100040
PN100041
ALLIANCEB MTN 3653D 08.4.2021
HCS MTN 1095D 25.5.2015
IJM MTN 1826D 23.10.2014
PUBLIC MTN 4018D 03.8.2022
CIMBBANK 4.150% 30.11.2022 - Issue No 5
GOLDEN ASSET IMTN 4.350% 17.11.2017
PBFIN 7.500% 05.06.2059 - Tranche No.1
CIMBBANK 4.800% 23.12.2025 - Issue No 2
RHBBANK MTN 3653D 29.4.2020
OCBC 4.200% 04.11.2020
A2
AAA
AA3
AA1
AA1
AA2
AA2
AA1
AA3
AA1
BIR ON
TRADE
DATE
CR-BIR
CR-BIR
NOTCH
DIVERGENCE
DIFFERENCE
AA2
AA3
AAA
AA3
AA3
A1
A1
AA3
AA1
AA3
CR < BIR
3
BIR < CR
3
CR < BIR
3
BIR < CR
2
BIR < CR
2
BIR < CR
2
BIR < CR
2
BIR < CR
2
CR < BIR
2
BIR < CR
2
Note: List shows traded bonds by Notch Difference and Market Capitalisation.
4) Top 10 BIR Notch Changes Over A Week
BOND CODE BOND NAME
PN100053
UN100040
UN110016
VG140054
PI090035
VI140049
UI110018
PZ090007
VI140055
UE130081
CIMBBANK 4.300% 23.12.2020 - Issue no 1
RHBBANK MTN 3653D 29.4.2020
ALLIANCEB MTN 3653D 08.4.2021
IMTIAZ II IMTN 4.300% 24.03.2017
SABAH STATE 4.580% 09.12.2014
BUMITAMA IMTN 5.25% 18.03.2019
CIMB MTN 1827D 14.4.2016 - MTN002
OCBC 6.750% 15.04.2039
IMTIAZ II IMTN 4.600% 22.03.2019
AMMB HOLDINGS BHD MTN 368D 08.09.14 (SENIOR NOTES)
Bond Pricing Agency Malaysia Market Reports
16 June 2014
CR ON END
DATE
AA1
AA3
A2
AA2
AAA
AA3
AA1
AA2
AA2
AA3
BIR ON
BIR ON
START
END DATE
DATE
AA2
AA1
AA1
AA1
AA1
AA3
AA1
AA2
AA1
AA2
AA3
AA2
AA2
AA2
AAA
A1
AA2
AA3
AA2
AA1
END BIR START BIR
STATUS
END BIR START BIR
NOTCH
DIFFERENCE
UPGRADE
1
UPGRADE
1
UPGRADE
1
UPGRADE
1
DOWNGRADE
1
UPGRADE
1
UPGRADE
1
UPGRADE
1
UPGRADE
1
DOWNGRADE
1
Note: List is by Notch Difference and Market Capitalisation.
WEEKLY UPDATE FOR
BPAM MARKET IMPLIED RATING (BIR)
09 JUN 2014 TO 13 JUN 2014
5) Disclaimer
Information on this document is intended solely for the purpose of providing general information on the Ringgit Bond market and is not
intended for trading purposes. The information contained within is not intended to be an exhaustive or complete coverage of the
subject(s). None of the information constitutes a solicitation, offer, opinion, or recommendation by Bond Pricing Agency Malaysia Sdn
Bhd (BPAM) to buy or sell any security, or to provide legal, tax, accounting, or investment advice or services regarding the profitability
or suitability of any security or investment. Investors are advised to consult their professional investment advisors before making any
investment decision. Materials provided on this document are provided on an "as is" basis, and while care has been taken to ensure
the accuracy and reliability of the information provided in this document, BPAM provides no warranties or representations of any kind,
either express or implied, including, but not limited to, warranties of title or implied warranties of fitness for a particular purpose,
accuracy, correctness, non-infringement, timeliness, completeness, or that the information is always up-to-date.
Bond Pricing Agency Malaysia Market Reports
16 June 2014

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