Surachet aims high with Aseambankers
THE TELL-TALE sign is in the price. When Khazanah, the Malaysian state’s investment arm, became the first borrower to issue an Islamic exchangeable bond in late September it chose Telekom Malaysia as the counterpart into whose shares the bonds can be exchanged.
TM is the biggest firm in Khazanah’s portfolio, and, as such, is most closely associated with the mainly historically pedestrian performance of Khazanah’s various holdings.
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