KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Temasek Holdings, Singapore’s state investment firm, has successfully raised 5.5 billion Chinese renminbi (US$768 million) through a well-received offshore bond offering on July 23. The sale marks its return to the offshore RMB bond market since August 2024.
Deal Breakdown
5-year bond: RMB 1.5B at 1.85% yield
10-year bond: RMB 2.0B at 2.05% yield
30-year bond: RMB 2.0B at 2.55% yield
📉 Initial guidance for these bonds ranged from 2.3% to 3.05%, and final pricing came in significantly tighter—indicating strong investor demand.
Structure & Credit
Issuer: Temasek Financial (I) Ltd, under Temasek’s US$25B global MTN program
Guarantee: Unconditional and irrevocable by Temasek
Ratings: Aaa (Moody’s) and AAA (S&P)
Use of Proceeds
Funds raised will go toward Temasek’s regular business and investment activities, supporting its global portfolio strategy.
Strategic Context
Temasek’s portfolio hit a record S$434 billion (US$340 billion) in early July, up 11.6% YoY
It sees improved opportunities in Europe, where valuations are now more attractive due to macro uncertainty
Temasek believes risks from US tariffs and fiscal tightening have likely peaked
Analyst Takeaway:
The tight pricing and strong investor interest reflect continued confidence in Temasek’s credit quality and Asia's local currency bond market.
With a AAA credit profile, Temasek remains one of the most stable sovereign investment vehicles globally, offering rare long-duration RMB bonds.
This issuance also highlights the growing internationalization of the renminbi, as Temasek leverages demand from institutional investors seeking diversified, high-grade assets.
Bottom Line: Temasek’s bond sale is a strategic funding move at low cost, supporting its long-term capital flexibility and global expansion outlook.
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