Yet another sukuk arrangement seems to have gone awry, this one in Malaysia.

Printing company Dawama Sdn Bhd missed a sukuk payment and has been downgraded by Malaysian Rating Corp Bhd (MARC).

During the round of defaults that plagued sukuk issuers in 2008-2009, most of the problems surfaced in the Persian Gulf region. It is too early to tell if this Malaysian default represents a new trend.

So much for the idea that sukuk are insulated from market and economic forces.

http://www.btimes.com.my/articles/20111003182429/Article/

 

Comments are closed.

Looking for something?

Use the form below to search the site:


Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!