Labuan International Financial Exchange

NEW APPOINTMENT IN LABUAN IBFC INCORPORATED SDN BHD

Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC Inc)wishes to announce the appointment of Mr. Danial Mah Abdullah as the ActingChief Executive Officer of the LIBFC Inc with effect from 19 March 2012.

Mr. Danial succeeds Mr. David Kinloch, whose contract had expired on 18thFebruary 2012.

LFX REVISES LISTING SPONSOR ENTRY REQUIREMENT AND APPLICATION TURNAROUND TIME FOR GREATER PARTICIPATION

Labuan International Financial Exchange (LFX) today announced that it has revised the entry level for a licensed Listing Sponsor of LFX from the existing Minimum Net Assets of USD2 million to USD100,000.

The revision is aimed to attract greater participation of issuers to LFX. It is envisaged that the revision will encourage more entities to apply for Listing Sponsor license and help to boost activities on LFX. In line with that, the LFX has also undertaken to improve the turnaround time for approval of the listing application within two market days, from the previous seven days.

PETRONAS SUKUK AND BOND LISTINGS ON LFX AND BURSA MALAYSIA

Bursa Malaysia welcomes double ‘firsts’ of the listings of its inaugural Islamic securities, also known as sukuk together with the conventional debt securities/bond by Petroliam Nasional Berhad (PETRONAS) and Cagamas MBS Berhad (Cagamas MBS). Both companies are listing their sukuk and conventional bonds on the Exchange today.

PETRONAS, via its special purpose vehicles, is listing its USD1.5 billion sukuk and USD3 billion conventional bonds on Bursa Malaysia and Labuan International Financial Exchange (LFX), an international exchange wholly owned by Bursa Malaysia. Both securities issued in US dollars will be for a period of five (5) and ten (10) years respectively. The PETRONAS’ maiden global sukuk to be listed on Bursa Malaysia is structured based on the globally accepted Shari’ah principle of Ijarah (Leasing).

KHAZANAH’S 3rd EXCHANGEABLE SUKUK LISTING ON LFX

Labuan international Financial Exchange Inc. (LFX), listed the 3rd Exchangeable Sukuk by Khazanah Nasional Berhad. The USD550 million exchangeable trust certificates were issued via its Labuan incorporated special purpose vehicle, Paka Capital Ltd.

The sukuk, due in 2013, is exchangeable into ordinary shares of Parkson Retail Group Limited (“Parkson”), a company listed on the Stock Exchange of Hong Kong and the largest department store operator in the People’s Republic of China. This issuance is Khazanah’s first sukuk exchangeable into a stock listed outside Malaysia. It is unique in allowing sukuk holders to have Khazanah’s credit as downside protection while enjoying the benefits of the favourable Chinese retail consumption growth potential.

LFX STARTS NEW YEAR WITH IOI’s 3rd. EXCHANGEABLE BONDS LISTING

IOI today listed its 3RD Exchangeable Bonds issue on Labuan International Financial Exchange (LFX). The primary listing of USD600 million nominal value five (5) year unsecured guaranteed 3rd exchangeable bonds were issued by IOI’s Labuan registered special purpose company IOI Resources (L) Berhad.

The book-building exercise for the exchangeable bonds for the final issue size of USD600 million was oversubscribed by five (5) times, as a result of strong demand from wide range of global investors.

The IOI Resources (Labuan) exchangeable bonds, which are due in 2013, are exchangeable into new ordinary shares of IOI Corporation Berhad and are fully guaranteed by IOI Corporation Berhad.

LANDMARK US$1,000,000,000 DAR AL-ARKAN SUKUK LISTS ON LFX

Dar Al-Arkan International Sukuk Company today listed its landmark US$1 billion Sukuk Al-Ijara on the Labuan International Financial Exchange (LFX), marking the first Saudi corporate Sukuk to list on the LFX. The Sukuk was arranged by a consortium of international banks on behalf of Dar Al- Arkan Real Estate Development Company, a leading residential real estate developer in the Kingdom of Saudi Arabia. The Sukuk has also been listed on the Dubai International Financial Exchange (DIFX).

Launched in June, the Sukuk issue received an overwhelming response from institutions across the Middle East, South East Asia and Europe. It was significantly oversubscribed, raising close to US$1.5 billion, with Dar Al-Arkan opting to close the issue at US$1 billion. The Joint Lead Managers and Joint Bookrunners of the transaction were ABC Islamic Bank (E.C.), Arab National Bank, Deutsche Bank, Dubai Islamic Bank PJSC, Gulf International Bank B.S.C., Kuwait Finance House (Malaysia) Berhad and Unicorn Investment Bank B.S.C.(c). Unicorn Investment Bank B.S.C.(c) was also the Shari’ah and Structuring Advisor. AmInternational (L) Limited is the LFX Listing Sponsor for the Sukuk.

LFX LISTS SECOND EXCHANGEABLE SUKUK BY KHAZANAH

The Labuan International Financial Exchange Inc. (LFX), listed the second Exchangeable Sukuk listing by Khazanah Nasional Berhad (Khazanah). The Sukuk was issued via its special purpose vehicle (SPV), Cherating Capital Ltd, with an offering size of USD850 million. The Sukuk, due in 2012, is exchangeable into ordinary shares of PLUS Expressways Berhad (PLUS Expressways), the largest expressway concessionaire in Malaysia in terms of toll receipts.

The Sukuk has a maturity of five (5) years with a periodic payment of 2.0% per annum and were priced to achieve a yield to scheduled dissolution of 4.58%. It has also an exchange premium of 23% over RM3.2054, being the weighted average price of PLUS Expressways’ ordinary shares on 27 June 2007.

FIRST INTERNATIONAL ISLAMIC SUBORDINATED SUKUK LISTING ON LFX

MBB Sukuk Inc. today listed its US$300 million Islamic Subordinated Sukuk on Labuan International Financial Exchange (LFX). The Subordinated Sukuk was structured on a 10 Non-Call 5-year basis due in 2017 but callable with step-up in the profit rate in 2012. The Subordinated Sukuk will qualify as Tier-2 Capital for Malayan Banking Berhad. The Subordinated Sukuk, rated BBB+ by Fitch Ratings and Standard & Poors and Baa1 by Moody’s Investors Service, was oversubscribed by more than 7 times, indicating strong demand for Sukuk by global investors.

The Subordinated Sukuk has a maturity of 10 years from the issue date with an option that allows Malayan Banking Berhad (Maybank), as the obligor to redeem in whole but not in part the Subordinated Sukuk. The proceeds raised from the Subordinated Sukuk will be utilized to fund Maybank Group’s Islamic banking operations and for general Islamic banking purposes.

IOI CAPITAL (L) BERHAD LISTS ITS THIRD FINANCIAL INSTRUMENT ON LFX

IOI Capital (L) Berhad (IOIL) today listed its USD 370 million Unsecured Guaranteed Exchangeable Bonds (Exchangeable Bonds) due 2011 on Labuan International Financial Exchange (LFX). The Exchangeable Bonds is guaranteed by IOI and is exchangeable into ordinary shares of RM0.50 each. The Exchangeable bonds, which were oversubscribed by 6 times, was a result of strong demand from global investors.

IOI Capital (L) Berhad’s 5-year Unsecured Guaranteed Exchangeable Bonds Issue due 2011 is IOI’s third listing on LFX through its subsidiaries. The first instrument that was listed back in 2004 was the Guaranteed Exchangeable Bonds Due 2009 issued by IOI Investment (L) Berhad and subsequently the Guaranteed Notes due 2015 issued by IOI Ventures (L) Berhad which was listed early last year.

LFX LISTS STATE GOVERNMENT OF SARAWAK’S THIRD DEBT INSTRUMENT

Labuan International Financial Exchange (LFX) today listed a USD350 million 20-year guaranteed Fixed Rate Amortising Notes (Guaranteed Notes) due 2026. The Guaranteed Notes issued by Sarawak Capital Incorporated (SCI), a wholly owned subsidiary of Sarawak Capital Assets Sdn Bhd (SCA)bears an interest rate of 5.925 per cent per annum.

This is the third debt instrument issued by the State Government of Sarawak listed on LFX. Prior to this was the USD350 Million Trust Certificates due 2009 under the Sukuk Al-Ijara principle which was listed in January 2005, and the second was the USD800 Million, 5.5 Per Cent Guaranteed Notes due 2015 which was listed in August in the same year.

“The listing of the Guaranteed Notes on LFX proves the state’s confidence towards the benefit that will be derived from the exchange for its economic development. We encourage other states to also participate alongside other domestic and sovereign issuers to reap the benefits and opportunities that LFX can offer”, commented Dato’ Yusli Mohamed Yusoff, Chairman of LFX Board and CEO of Bursa Malaysia Berhad.

LFX LISTS WORLD’S 1st SYARIAH-COMPLIANT EXCHANGEABLE TRUST CERTIFICATES (SUKUKS)

LFX (Labuan International Financial Exchange) today debuted the primary listing of the world’s first Syariah-compliant Exchangeable Trust Certificates (Sukuks) issued by Khazanah Nasional Berhad through its Labuan incorporated Special Purpose Company, Rafflesia Capital Limited. The USD750 million Certificates set a new benchmark as Malaysia’s largest exchangeable instrument to be issued out of Asia ex-Japan to date and were six times oversubscribed over the initial issuance that amounted to USD 500 million.

“The listing of this landmark Exchangeable Sukuk on LFX is certainly a significant milestone, both for LFX and for Islamic Capital Market in general. Malaysia has been at the forefront in the innovative structuring of Sukuks and LFX is proud to be part of this innovation. We encourage more issuers, both local and foreign to follow Khazanah’s lead and take advantage of the opportunities and benefits that LFX offers for fund raising activities,” said the Chairman of the LFX Board, Yusli Mohamed Yusoff, who is also the CEO of Bursa Malaysia Berhad.

“The Exchangeable Sukuk is the 7th Sukuk listed on LFX, bringing the exchange’s Islamic Capital Market capitalization to USD2.85 billion. This represents 20% of total market capitalization of US14.2 billion,” added Yusli.

LFX APPOINTS CITIBANK MALAYSIA (L) LIMITED AND CAPITAL INVESTMENT BANK (L) LTD AS LISTING SPONSORS

The Labuan International Financial Exchange (LFX) announced the appointment of Citibank Malaysia (L) Limited and Capital Investment Bank (L) Ltd (Capinbank) as its 9th and 10th Listing Sponsors respectively.

The license presentation ceremony took place in Labuan yesterday in conjunction with a seminar on Malaysian International Offshore Financial Centre (IOFC) Labuan.  The awards were presented by Chairman of LFX Licensing Committee, Dato’ Dr. Nik Norzrul Thani and witnessed by Tan Sri Dato’ Sri Dr. Zeti Akhtar Aziz, Chairman of Labuan Offshore Financial Services Authority (LOFSA) and Governor of Bank Negara Malaysia.  The seminar was held as part of LOFSA’s 10th Anniversary celebration.

A Listing Sponsor of LFX is primarily responsible to provide advice, structure and arrange for the listing of both conventional and Islamic financial instruments on the LFX and; for any subsequent post-listing obligations arising from the listings of the instruments. The roles and responsibilities of a Listing Sponsor amongst others also include preparation of financial instruments for listing subject to the terms and rules of LFX’s listings, underwriting and placements of the financial instruments listed, undertaking the tasks of an issuing house and post-listing responsibilities and obligations.

“The Exchangeable Sukuk is the 7th Sukuk listed on LFX, bringing the exchange’s Islamic Capital Market capitalization to USD2.85 billion. This represents 20% of total market capitalization of US14.2 billion,” added Yusli.

PENERBANGAN MALAYSIA BERHAD MAKES ENTRY INTO LFX

Labuan International Financial Exchange (LFX) recorded its 36th listing today with the listing of Penerbangan Malaysia Berhad’s (PMB) USD1.0 billion Guaranteed Notes.

The Guaranteed Notes, due in 2016, are guaranteed by the Government of Malaysia. With a coupon rate of 5.625% per annum, the Guaranteed Notes have been rated A(3) by Moody’s Investors Service, Inc and A(-) by Standard & Poor’s Rating Services.

The listing of the Guaranteed Notes signifies the continued confidence of Government Linked Companies (GLCs) on LFX.

AMMB USD 200 MILLION FIXED-TO-FLOATING RATE STEP-UP NON-CUMMULATIVE NON-VOTING GUARANTEED PREFERENCE SHARES

Labuan International Financial Exchange (LFX) listed its second preference shares today. The issue a USD200 million Fixed-to-Floating Rate Step-up Non-Cumulative Non-voting Guaranteed Preference Shares (“Preference Shares”) are guaranteed on a subordinated basis by AmBank (M) Berhad ("AmBank")

"The issue is a very positive signal of investors confidence in LFX," said Chairman of LFX Board Encik Yusli Mohamed Yusoff, who is also the Chief Executive Officer of Bursa Malaysia Berhad. "This issue will help LFX expand its businesses and provide a full complement of financial services to the local and international markets ", added Yusli.

The Preference Shares are perpetual securities and have no final redemption date but may be redeemable at the option of the Issuer under certain circumstances. The Preference Shares are hybrid securities that are structured in accordance with the Guidelines for Innovative Tier 1 Capital Instruments issued by Bank Negara Malaysia.

EUCALYPTUS'S USD30MILLION VARIABLE RATE GUARANTEED SECURED BONDS IS LFX'S 34TH LISTING

Labuan International Financial Exchange (LFX) saw its 34th listing today with the debut of Eucalyptus Investment Holdings Limited's ("EIHL') USD 30 million variable rate guaranteed secured bonds.

EIHL had on 27 September issued three-year USD30,000,000 Variable Rate Guaranteed Secured Bonds due in 2008.The Bonds are irrevocably guaranteed by ISU Chemical Co., Ltd.

"LFX is an offshore financial exchange that facilitates the listing of multitude of financial instruments ranging from debt instruments to investment funds. At present, majority of the products comprise of conventional debt securities as well as Syariah-compliant certificates (Sukuk). Issuers in Malaysia and at the international front are welcomed to utilize the various opportunities of listing small to high scale financial instruments on the LFX" said Chairman of LFX Board Encik Yusli Mohamed Yusoff, who is also the Chief Executive Officer of Bursa Malaysia Berhad. "The listing of small to medium scale financial instruments on the LFX shows that the exchange is viable for the demand of maturing industries in this region," Yusli adds.

SBB CAPITAL CORPORATION LISTING MARKS DEBUT OF INNOVATIVE HYBRID TIER 1 INSTRUMENT ON LFX

The primary listing of USD200 million Non-cumulative Guaranteed Preference Shares issued by SBB Capital Corporation, a Labuan incorporated offshore company and wholly-owned subsidiary of Southern Bank Berhad today marked the debut of an Innovative Hybrid Tier 1  capital raising by a Malaysian bank in the international capital markets.  The Non-cumulative Guaranteed Preference Shares is issued as an Innovative Tier 1 Capital under the Bank Negara Malaysia Guidelines for Innovative Tier 1 Capital Instruments. 

The Non-cumulative Guaranteed Preference Shares, which bears an interest rate of 6.62% per annum, are guaranteed by SBB and has a rating of Ba2 from Moody’s Investors Services Limited and BB+ from Fitch Rating.

LFX HONOURS LISTING SPONSORS WITH SPECIAL AWARD

The Labuan International Financial Exchange (LFX) awarded its Listing Sponsors which have significantly contributed towards the development of the Exchange for year 2005. The recipients are AmInternational (L) Limited (AMIL) and CIMB (L) Limited (CIMB). Datuk Zamani Abdul Ghani, Deputy Governor Bank Negara Malaysia, presented the awards at the Labuan Offshore Industry Annual Dinner in Labuan International Offshore Financial Centre (IOFC).

“Its important that we give recognition to deserving market participants that have contributed towards the development of the LFX. With 32 instruments listed on LFX today, market capitalisation has grown to USD12.09 billion (market cap as at Thursday,22nd), said Chairman of LFX Board Yusli Mohamed Yusoff, who is also the Chief Executive Officer of Bursa Malaysia Berhad.

“We hope all other Listing Sponsors will enhance their participation on their exchange and aggressively promote the issuance of more Islamic and conventional investment instruments on the offshore exchange. There are many benefits that an issuer can enjoy at the IOFC.”

LFX MARKET CAP REACHES USD12 BILLION WITH THE LISTING OF SARAWAK INTERNATIONAL INCORPORATED NOTES

The total market capitalisation of Labuan International Financial Exchange (LFX) has reached USD12.09 billion (RM45.3 billion, 1USD=RM3.75 as at 2 August 2005) with the primary listing of USD600 million guaranteed notes issued by Sarawak International Incorporated (SII), a wholly-owned subsidiary of SGOS Capital Holdings Sdn Bhd (SGOS).

The latest listing brings the number of total listings on LFX to 32 and it expands the diversity of LFX’s range of financial instruments, which now comprise of six (6) Syariah-compliant certificates (Sukuk), six (6) open-ended funds and sixteen (20) conventional debt securities and exchangeable bonds.

The issue is a US$600,000,000 10-year guaranteed notes due 2015 (“Notes”) guaranteed by SGOS Capital Holdings Sdn Bhd (“SGOS”). The Notes, which bears an interest rate of 5.50 per cent per annum, have been rated Baa1 by Moody’s Investors Services Limited and A- by Standard & Poor’s Rating Services.

Deutsche Bank AG is the sole lead manager and sole bookrunner for the issue, which was oversubscribed by 3 times, while UBS Limited and RHB (L) Limited are the co-managers. “This is the second issuance by the government of Sarawak after the Sukuk Trust Certificates issued by Sarawak Corporate Sukuk Inc early this year. We welcome more state government agencies to utilise the various opportunities offered by LFX in Labuan IOFC. LFX and the IOFC could provide the platform to raise funding for development and business,” said Chairman of LFX Board, Yusli Mohamed Yusoff, who is also the Chief Executive Officer of Bursa Malaysia Berhad.

TRANSMILE GROUP BERHAD MAKES INTERNATIONAL FINANCIAL DEBUT ON LFX WITH THE PRIMARY LISTING OF USD80 MILLION FIVE YEAR GUARANTEED REDEEMABLE CONVERTIBLE BONDS

Market capitalisation of the Labuan International Financial Exchange (LFX) reached USD11.5 billion (RM43.7 billion) with the listing of a USD80 million Guaranteed Redeemable Convertible Bonds (Convertible Bonds) by the Transmile Group Berhad (TGB) today. The USD80 million Guaranteed Redeemable Convertible Bonds due in 2010 were issued by Labuan-incorporated TGB (SPV) Limited, a wholly owned subsidiary of TGB.

With the listing of the Bonds, there are now 19 conventional bonds, 5 mutual funds and 5 Syariah compliant certificates (Sukuk). Yusli Mohamed Yusoff, Chairman of the LFX Board and CEO of Bursa Malaysia Berhad, said that more Malaysian corporations should tap into the opportunities offered by LFX in meeting their capital needs. The listing of the Convertible Bonds is a testimony of the ability of LFX to offer its services, especially in the area of regional finance for aviation, air transport and logistics business.

TNB CAPITAL MAKES PRIMARY LISTING OF USD350 MILLION GUARANTEED NOTES ON THE LABUAN INTERNATIONAL FINANCIAL EXCHANGE (LFX)

abuan International Financial Exchange (LFX) lists its 30 th financial instrument today. TNB Capital (Labuan) Limited (TNB Capital), a Labuan incorporated offshore company and wholly-owned subsidiary of Tenaga Nasional Berhad (Tenaga), listed its ten-year USD350 million fixed rate guaranteed notes (Notes) due in 2015 on the offshore financial exchange.

The primary listing of the Notes raised the market capitalisation of LFX to USD11.40 billion (RM43.31 billion). LFX has to-date 18 conventional debt instruments and exchangeable bonds, five (5) investment funds and five (5) Islamic certificates (Sukuk) listed on the exchange. With the listing of the Notes, LFX, which is a web and electronic-based financial exchange, made further strides towards becoming a more vibrant offshore market centre for capital market and fund management activities in the ASEAN and Asia-Pacific region.

IOI VENTURES MAKES PRIMARY LISTING OF USD500 MILLION GUARANTEED NOTES ON THE LABUAN INTERNATIONAL FINANCIAL EXCHANGE (LFX)

Labuan International Financial Exchange (LFX) listed its 29 th instrument today with the debut of IOI Ventures (L) Berhad’s ten-year USD500 million guaranteed unsecured notes (Notes) due in 2015. IOI Ventures (L) Berhad (IOI Ventures) is a Labuan incorporated offshore company and wholly-owned subsidiary of IOI Corporation Berhad. The primary listing of the Notes raised the market capitalisation of LFX to USD11.05 billion (RM41.98 billion). LFX has to-date 17 conventional debt instruments and exchangeable bonds, five (5) investment funds and five (5) Islamic certificates (Sukuk) listed on the exchange. The listing of the Notes on LFX signifies the importance of the offshore exchange as a platform for Malaysian corporations to raise foreign capital for their business development and expansion purposes. Yusli Mohamed Yusoff, Chairman of the LFX Board and CEO of Bursa Malaysia Berhad, said, “The IOI listing is the second such exercise of its kind in a year. It is testimony of LFX’s growing credibility and the increasing acceptance by Malaysian corporations and issuers of LFX as an effective platform for foreign fund raising. It is hoped that many more Malaysian corporations and issuers will realise the effectiveness and potential of LFX and capitalise on this, rather than using foreign exchanges to list their issues”.

LABUAN INTERNATIONAL FINANCIAL EXCHANGE (LFX) APPOINTS AVENUE SECURITIES SDN. BHD. AS LISTING SPONSOR

The Labuan International Financial Exchange (LFX) announced the appointment of Avenue Securities Sdn Bhd as its 8 th Listing Sponsor and Advisor on the Exchange. Avenue Securities Sdn Bhd, a participating organisation of Bursa Malaysia Securities Berhad has been given the approval to carry out the relevant functions and responsibilities of a Listing Sponsor of LFX. A Listing Sponsor of LFX is primarily responsible to provide advice, structure and arrange for the listing of both conventional and Islamic financial instruments on the LFX and; for any subsequent post-listing obligations arising from the listings of the instruments. The roles and responsibilities of a Listing Sponsor amongst others also include preparation of financial instruments for listing subject to the terms and rules of LFX’s listings, underwriting and placements of the financial instruments listed, undertaking the tasks of an issuing house and post-listing responsibilities and obligations. Yusli Mohamed Yusoff, Chairman of LFX Board and CEO of Bursa Malaysia Berhad said, “This will be the first stockbroking company with Universal Broker (UB) status to be appointed as an LFX listing sponsor. Bursa Malaysia Berhad, the parent company of LFX, welcomes the appointment as it marks the entry of Malaysian stockbrokers into the offshore exchange and international offshore financial business sector.”

AMCORP MAKES PRIMARY LISTING OF USD120 MILLION EXCHANGEABLE BONDS ON LFX

– he number of approved listings on the Labuan International Financial Exchange (LFX) increased to 28 with the primary listing of USD120 million exchangeable bonds issued by Amcorp Capital (L) Ltd., a wholly-owned subsidiary of Arab-Malaysian Corporation Berhad (Amcorp).

With the latest listing, it expands the diversity of LFX’s range of financial instruments, which now comprise of six (6) Syariah-compliant certificates (Sukuk), six (6) open-ended funds and sixteen (16) conventional debt securities and exchangeable bonds. This brings the total market capitalisation of LFX to USD10.55 billion (RM40.09 billion).

The latest issue is a 5-year guaranteed exchangeable bonds due 2010 (Exchangeable Bonds) guaranteed by Arab-Malaysian Corporation Berhad (Amcorp). The Exchangeable Bonds will be exchangeable into existing ordinary shares of par value RM1.00 per share of AMMB Holdings Berhad (AHB) held by Amcorp. AHB is a company listed on the Main Board of Bursa Malaysia Securities Berhad whose principal activity is as an investment holding company of an integrated financial services group in Malaysia.

The Exchangeable Bonds involved a firm issue of USD100 million and a green-shoe option for up to a further USD20 million of exchangeable bonds.

LFX EXPANDS ISLAMIC INVESTMENTS WITH USD350 MILLION ISLAMIC SUKUK AL-IJARAH

The Labuan International Financial Exchange (LFX) expands its offerings of Islamic investment instruments with the primary listing of trust certificates issued under the Islamic principle of Sukuk Al-Ijarah by Sarawak Corporate Sukuk Inc. (SCSI). The listing of the Sukuk signifies the Exchange’s growing focus in the Islamic capital market and the ability of LFX to cater to the growing demand for listings of both conventional and Islamic financial instruments.

The issue is a series of trust certificates (Certificates) comprising USD350 million floating rate with a maturity of five (5) years. The Certificates is the sixth Syariah compliant Islamic financial instrument which now brings the total number of listings on LFX to 26, with a combined market capitalisation of USD10.43 billion (RM39.63 billion).

LFX MARKET CAP REACHES US$10 BILLION WITH KHAZANAH'S NOTES

Market capitalisation at the Labuan International Financial Exchange Inc (LFX) increased to US$10.13 billion (RM38.49 billion) with the primary listing of US$414.5 million exchangeable notes issued by Labuan-based Feringghi Capital Limited, a wholly owned subsidiary of Khazanah Nasional Berhad, the Malaysian government investment holding arm.

LFX Board Chairman and Chief Executive Officer of Bursa Malaysia Berhad, Yusli Mohamed Yusoff said that this is the largest equity-linked security issued by any entity in Malaysia in recent times, and indeed on LFX.

"Khazanah's primary listing on LFX reflects the Malaysian Government's support of the offshore exchange. This augurs well as LFX is into its second phase, seeking more Malaysian corporations to make primary listings on the exchange."

SAPURACREST MAKES PRIMARY LISTING OF USD80 MILLION CONVERTIBLE BONDS ON LFX

Labuan International Financial Exchange (LFX), lists its 24 th instrument today. SapuraCrest Dana SPV Pte. Ltd., a Labuan incorporated offshore company and wholly-owned subsidiary of SapuraCrest Petroleum Berhad (SapuraCrest), listed its five (5) year 2.5% unsecured guaranteed redeemable convertible bonds (CB) on the offshore exchange.

The primary listing of the CB, has raised the market capitalisation of LFX to USD9.71 billion (RM36.91 billion). LFX has 24 financial instruments listed to-date, comprising 14 conventional debt instruments and exchangeable bonds, five (5) investment funds and five (5) Islamic certificates (Sukuk).

The listing of the CB on LFX signifies the increasing confidence of Malaysian corporations and issuers on the opportunities offered by LFX in meeting their capital needs.

LISTING OF TELEKOM MALAYSIA GROUP’S NOTES ON LFX

The secondary listing of Telekom Malaysia Berhad (Telekom Malaysia) Group’s USD500 million Notes on Labuan International Financial Exchange (LFX) today makes it the 11 th new listing on the Exchange this year.

The Notes, which were issued by TM Global Incorporated, a Labuan-based wholly owned subsidiary of Telekom Malaysia are due in 2014 and are fully guaranteed by Telekom Malaysia.

With this listing, there are now 23 financial instruments listed on LFX, comprising five (5) Shariah compliant certificates (Sukuk), five (5) investment funds and 13 conventional debt instruments and exchangable bonds, with a total of market capitalisation of USD9.58 billion.

The Notes, which carry a coupon rate of 5.25%, have been rated A3 by Moody’s and A - by Standard and Poor’s. The Notes, had their primary listing on the Luxembourg Stock Exchange on 22 September 2004.

The proceeds from this exercise will be used by Telekom Malaysia Group for refinancing of existing debt and for general working capital requirements.

LFX Board Chairman, Encik Yusli Mohamed Yusoff, who is the Chief Executive Officer of Bursa Malaysia, welcomed the move by Telekom Malaysia as a positive sign for the development of the capital market in the Labuan International offshore financial centre. He hoped that it will draw other corporations in Malaysia to follow suit and thus further enhance the visibility of LFX as the premier offshore exchange in the region.

The listing sponsor for TM Global is AmInternational (Labuan) Limited. A listing sponsor is primarily responsible to arrange for the listing of instruments on the LFX and for any subsequent post listing obligations arising.

LFX RECORDS 20 th LISTING WITH IOI INVESTMENT'S EXCHANGEABLE BONDS

The Labuan International Financial Exchange (LFX) today achieved its 20 th listing with the primary listing of USD310 million exchangeable bonds issued by a Labuan incorporated unit of Malaysian integrated plantation group, IOI Corporation Berhad.

The zero coupon unsecured guaranteed exchangeable bonds were issued by IOI Investment (Labuan) Berhad, a wholly owned subsidiary of IOI Corporation Berhad.

With today’s listing, there are now 20 instruments listed on LFX, comprising five (5) Syariah compliant certificates (Sukuk), five (5) investment funds and 10 conventional debt instruments and exchangeable bonds, with a total market capitalization of USD8.66 billion.

LFX Board Member and Chief Executive Officer of Bursa Malaysia, the holding company of LFX, Yusli Mohamed Yusoff said that being the first primary listing of exchangeable bonds on LFX, the new listing expands the diversity of the range of financial instruments on the Exchange.

"The primary listing of the exchangeable bonds further reflects the increasing acceptance of LFX as a premier offshore exchange by Malaysian corporations issuing foreign currency bonds."

LFX MARKET CAP UP USD 1.1 BILLION WITH MISC NOTES LISTING

The Labuan International Financial Exchange (LFX) today achieved its 20 th listing with the primary listing of USD310 million exchangeable bonds issued by a Labuan incorporated unit of Malaysian integrated plantation group, IOI Corporation Berhad.

The zero coupon unsecured guaranteed exchangeable bonds were issued by IOI Investment (Labuan) Berhad, a wholly owned subsidiary of IOI Corporation Berhad.

With today’s listing, there are now 20 instruments listed on LFX, comprising five (5) Syariah compliant certificates (Sukuk), five (5) investment funds and 10 conventional debt instruments and exchangeable bonds, with a total market capitalization of USD8.66 billion.

LFX Board Member and Chief Executive Officer of Bursa Malaysia, the holding company of LFX, Yusli Mohamed Yusoff said that being the first primary listing of exchangeable bonds on LFX, the new listing expands the diversity of the range of financial instruments on the Exchange.

"The primary listing of the exchangeable bonds further reflects the increasing acceptance of LFX as a premier offshore exchange by Malaysian corporations issuing foreign currency bonds."

LFX FURTHER STRENGTHENS ITS ISLAMIC NICHE WITH LISTING OF BAHRAIN'S FIRST INTERNATIONAL SUKUK

The secondary listing of the Kingdom of Bahrain’s first international sukuk on the Labuan International Financial Exchange (LFX) today is testimony to the Exchange’s growing niche in the international Islamic financial market.

The USD250 million Al-Ijarah Sukuk is the fifth Syariah compliant financial instrument to be listed on LFX and the second instrument from the Middle East after the USD700 million Qatar sukuk earlier this year.

The listing of Al-Ijarah Sukuk brings the total number of listings on LFX to 17, with a combined market capitalisation of USD7.25 billion (RM27.55billion).

The USD250 million Al Ijarah Sukuk was issued on behalf of the Government of Bahrain by BMA International Sukuk Company (SPC) which is wholly-owned by the Bahrain Monetary Agency (BMA). The BMA is Bahrain’s central bank and regulator of its financial sector.

The BMA Sukuk, which was issued on 30 June 2004, has a primary listing on the Luxembourg Stock Exchange (LSE) on 5 July 2004 and Bahrain Stock Exchange (BSE) on 12 July 2004.

LFX MARKET CAP UP 136% TO USD 7 BILLION WITH MALAYSIAN BONDS LISTING

Market capitalisation at the Labuan International Financial Exchange (LFX) increased 136% with the listing of three existing international sovereign bonds by the Malaysian Government today.

The secondary listings of the three Malaysian sovereign bonds, two denominated in USD and the other in Euro, brings the total market capitalisation of LFX to USD7.00 billion (RM 26.6 billion) from USD2.96 billion (RM 11.2 billion) previously.

The three new listings are the Malaysian Government’s Euro 650 million 6.375% Notes due 2005 (Euro Notes ‘05’), USD 1.5 billion 8.75% Notes due 2009 (USD Notes ‘09’), and USD 1.75 billion 7.5% Notes due 2011 (USD Notes ‘11’). The notes were issued between 1999 and 2002.

QATAR SUKUK LISTED – LFX ACHIEVES USD 2.95 BILLION MARKET CAPITALISATION

The latest listing of the inaugural Sukuk by the Government The secondary listing of the USD700 million Trust Certificates (Sukuk) due 2010 of Qatar Global Sukuk on LFX today marks the 14th listing on LFX.of Qatar on the Labuan International Financial Exchange (LFX) today increased the market capitalisation of the exchange to USD2.95 billion (RM11.2 billion).

The secondary listing of the USD700 million Trust Certificates (Sukuk) due 2010 of Qatar Global Sukuk on LFX today marks the 14th listing on LFX.

Chairman of LFX Board of Directors, Dato’ Mohd Azlan Hashim said the listing of the Qatar Sukuk is a significant step forward for LFX in meeting one of its key objective of bridging requirements for international Islamic financing.

“LFX is certainly committed in accelerating its development as the premier exchange for the listing of Islamic financial instruments from all over the world.

“The inaugural listing of the Qatar Sukuk is testimony to the continuing confidence of international investors in the capability of LFX,” he said.

The Sukuk has an A+ rating by Standard & Poors Rating Services and was listed on the Luxembourg Stock Exchange on 9 October 2003. The Sukuk has also been endorsed by the Bahrain-based International Islamic Financial Market (IIFM) in September 2003. LFX recently signed an MOU with IIFM to establish a framework for greater co-operation and to pave the way for both organisations to jointly develop an Islamic Capital Market with an enhanced global reach.

LFX AND IIFM SIGN MOU TO JOINTLY DEVELOP AN ENHANCED ISLAMIC CAPITAL MARKET

Labuan International Financial Exchange (LFX) has signed a Memorandum of Understanding (MOU) with the Bahrain based International Islamic Financial Market (IIFM) today.

The objective of the MOU is to set a framework for greater co-operation between LFX and IIFM to pave the way for both organisations to jointly develop an Islamic Capital Market with an enhanced global reach.

Among others, the MOU is set to promote the following:
- development of channels of communications & exchange of information
- collaboration in the listing and active secondary trading of Islamic financial instruments.

The MOU was signed by the Chairman of LFX Board of Directors, Dato’ Mohd Azlan Hashim and Encik Abdul Rais Majid, Chief Executive Officer of IIFM.

LFX MARKET CAP OVER USD 2 BILLION WITH GENTING NOTES LISTING

Market capitalisation for Labuan International Financial Exchange (LFX) reached US$2.26 billion (RM8.59 billion) with the latest secondary listing of a US$300.0 million exchangeable notes by the Genting Berhad group.

The US$300.0 million 1% Guaranteed Exchangeable Notes (‘the Notes’) due in 2008, were issued by Labuan-incorporated Prime Venture (Labuan) Limited (PVL), a wholly-owned subsidiary of Genting Berhad.

With the latest listing, there are 13 instruments listed on LFX to date, comprising three Syariah compliant certificates (Sukuk), six investment funds and four conventional debt instruments and exchangeable bonds, with a total market capitalisation of US$2.26 billion.

The Chairman of LFX Board of Directors, Dato’ Mohd Azlan Hashim said that Malaysian corporations should continue to tap the opportunities offered by LFX in meeting their capital needs.

GREATER INTERNATIONAL ACCEPTANCE WITH PRIMARY LISTING OF AM-MACQUARIE SOVEREIGN PLUS FUND

Labuan International Financial Exchange (LFX) today took a step further towards greater international acceptance with the latest primary listing by a leading global fund management group.

The primary listing of the Am-Macquarie Sovereign Plus Fund (“Am-Macquarie Fund”) by Australian fund management group, Macquarie Investment Services Limited (MISL) enhances LFX's position as an offshore exchange that offers a primary platform for the listing of a wide range of financial products, both local and international.

The Chairman of the Board of LFX, Dato' Mohd Azlan Hashim welcomes the participation of a well-established international fund management group such as MISL.

RHB LISTS USD265 MILLION BONDS ON LFX

Rashid Hussain Berhad (RHB) commenced the secondary listing of USD265.205 million Secured Bonds on the Labuan International Financial Exchange (LFX) on Wednesday, 12 March 2003.

The secondary listing of the RHB bonds, due in 2007, brings the total number of listings on LFX to eleven. The primary listing of the bonds on the Luxembourg Stock Exchange was on 21 February 2003.

TNB CAPITAL LISTS USD350 MILLION EXCHANGEABLE BONDS ON LFX

The secondary listing of USD350.0 million Exchangeable Bonds, issued by TNB Capital (L) Ltd. on the Labuan International Financial Exchange (LFX) today brings the total number of listings on the Exchange to ten.

"Today's listing expands the diversity of LFX's range of financial instruments which comprise three Shariah-compliant certificates (Sukuk), five open-ended funds, one conventional floating rate secured notes and, the latest, exchangeable bonds," said S Loganathan, General Manager of LFX.

TNB Capital (L) Ltd (TNBC), is a Labuan incorporated Special Purpose Vehicle (SPV) owned by Tenaga Nasional Berhad, a corporation listed on the Main Board of the Kuala Lumpur Stock Exchange.

OFFSHORE FINANCIAL CENTRES TO CONTINUE TO ENHANCE COMPETITIVENESS

Offshore financial centres are urged to continue to enhance competitiveness in managing present challenges facing the industry.

Authority Member of the Labuan Offshore Financial Services Authority (LOFSA) Dato' Mohd Azlan Hashim said, this could be done by capitalising on their inherent strengths.

"With technology as a driver, offshore financial centres have to continue to develop their capabilities, human and technology resources in outstanding, innovative ways to better serve market requirements,"he said.

Noting that there are over 70 offshore financial centres world wide currently, he said each should develop its own niche area to remain competitive.

LABUAN TO HOST THE FIRST ASIA-PACIFIC CONFERENCE OF THE OFFSHORE INSTITUTE

The Offshore Institute is a leading multi-disciplinary international professional body with members in more than 50 countries and has the objective of promoting education and ethics within the international financial industry. Its Annual Conference is a unique international forum for the interchange of information on common issues facing practitioners and governments in offshore jurisdictions, with a special focus on the dynamic forces that are re-shaping and re-defining the offshore services industry.

DATUK DR AWANG ADEK IS NEW LFX EXCHANGE COMMITTEE CHAIRMAN

Dr Awang Adek Hussin, former Assistant Governor at Bank Negara Malaysia (BNM), has been appointed as Chairman of the Exchange Committee of the Labuan International Financial Exchange (LFX).

The appointment, which is for a two-year term effective 16 September 2002, was approved by the Minister of Finance in accordance with the provisions of the Labuan Offshore Securities Industry Act 1998 (LOSIA).

LFX SUCCESSFUL IN TAPPING INTO ISLAMIC FINANCIAL MARKET

Labuan International Financial Exchange (LFX) is pleased to announce the secondary listing of the Malaysian Government's USD600.0 million Sukuk Al-Ijarah Trust Certificates on the Exchange today. This brings the total number of listings on LFX to nine.

INSINGER LISTING PROVES FLEXIBILITY, DIVERSITY OF LFX

LFX’s flexibility and versatility in gaining greater acceptance in the international financial arena was proven by the secondary listing of five Insinger de Beaufort funds on the Exchange.

INSINGER TO LIST FIVE INT'L FUNDS ON LFX

A well-established Anglo-Dutch banking organization-Insinger de Beaufort will take the lead as the first international asset manager to be involved in the Labuan International Financial Exchange (LFX).

INAUGURAL LISTING AT LFX (SERIAL ISLAMIC LEASE SUKUK)

The first primary listing on Labuan International Financial Exchange (LFX) took place on 25 January 2002 with the listing of a USD150 million Serial Islamic Lease Sukuk.

INAUGURAL LISTING AT LFX (1st. SILICON INC.)

The inaugural listing on Labuan International Financial Exchange (LFX) took place on 20 June 2001 with the secondary listing of a USD250 million bond issue by 1st Silicon (Labuan) Inc.

LFX APPOINTS GENERAL MANAGER

Labuan International Financial Exchange (LFX) wishes to announce the appointment of Mr. S. Loganathan as General Manager with effect from 1 June 2001.

K&N KENANGA POSTPONES LISTING ON LABUAN EXCHANGE

THE first company to be listed on the Labuan International Financial Exchange (LFX) has rescheduled its listing plan in favour of better timing, the Kuala Lumpur Stock Exchange said in a press release last Friday.

The listing on the LFX, which was to be held last Friday, has been rescheduled to a more appropriate date upon the request of listing sponsor, K&N Kenanga Holdings Bhd.

LFX TO SEE MAIDEN LISTING THIS MONTH

THE Labuan International Financial Exchange (LFX), launched in November last year, will see its maiden listing this month _ a subsidiary of a firm listed in the US.

The listing will raise up to US$5 million (US$1 = M3.80) with the issuance of 6.5 million to 8.5 million shares, with about two million public shares.

OFFERS UNLIMITED INVESTMENT OPPORTUNITIES

Labuan International Financial Exchange (LFX) has been established and will continue to be developed to be an efficient, cost effective exchange for the benefit of all.

Chairman of LFX Dato’ Mohd Azlan Hashim said the opportunities offered by LFX to all global investors and companies are unlimited.

LABUAN INTERNATIONAL FINANCIAL EXCHANGE INC. NOW AT LFX.COM

LFX, an offshore exchange wholly owned by the Kuala Lumpur Stock Exchange, has been identified as one of the key components in promoting Labuan as an offshore financial centre. Based in Labuan, LFX will initially focus on the listing of financial instruments. It is however planned that LFX be developed into an offshore exchange complete with listing and trading capabilities.