PETALING JAYA: After a delay in key pipeline deals last year, the domestic investment banking scene is set to pick up this year despite facing headwinds.
“We expect more muted fund raising for new capital expenditures by corporates, although more refinancing opportunities would surface as corporates look to manage their asset and liability amidst a challenging backdrop. As for M&As, Fad’l expects more M&As as confidence returns to the market amid compelling valuations and companies continued their quest for scale and in-country consolidation.
“We expect RM90-RM100bil of corporate bonds/sukuk issuances for 2021 on the back of government guaranteed issuances, potential refinancing activities, bank capital requirements, infrastructure projects, as well as corporate expenditure requirements.Jefferi said he anticipates a busy pipeline deals for 2021, with issuers having been encouraged by their own resilience in 2020.
On the other hand, Deloitte Malaysia financial services industry leader Anthony Tai expects the investment banking industry to experience flat growth this year, primarily driven by the ongoing impact of the pandemicIn general, he said local corporations are adopting conservative policies, including cost cutting, shoring up cash, and taking less risks by shelving their expansion plans.
Source: News Formal (newsformal.com)
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