BURSA MALAYSIA
Company Announcements
Guided Tour
EN
BURSA MALAYSIA
EN
  • Market Information
      • Equities Prices
      • Indices
      • Bonds Prices
      • Derivatives Prices
      • Shariah Compliant Equities Prices
      • Market Statistics
      • Securities
      • Bonds
      • Derivatives
      • Market Data
      • Information Services License
      • Website Linking Service
      • Historical Data Packages
      • Information Vendors
      • Announcements
      • Company Announcements
      • Structured Warrants
      • Entitlement by Ex-Date
      • SPEEDS
  • Trade
      • Market
      • Securities Market
      • Derivatives Market
      • Islamic Markets
      • Labuan International Financial Exchange (LFX)
      • Our Product & Services
      • Equities
      • Bonds
      • Derivatives
      • Islamic Markets
      • Indices
      • Labuan International Financial Exchange (LFX)
      • Co-Location Service
      • BTS2 On-Boarding
      • Network Access and Infrastructure Services (NAIS)
      • Central Depository System (CDS)
      • Trading Resources
      • Listing Directory
      • Equities
      • Brokers for Equities
      • Non Broker Participants
      • Bonds
      • Brokers for Bonds
      • Derivatives
      • Brokers for Derivatives
      • Islamic Markets
      • Post Trade
      • Securities Borrowing & Lending (SBL)
      • Islamic Securities Selling & Buying Negotiated Transaction (ISSBNT)
      • Securities Clearing & Settlement
      • Derivatives Clearing & Settlement
      • Transaction Costs, Fees and Charges
      • Risk & Compliance
      • Overview
      • Risk & Compliance Framework
      • BMSC and BMDC as Central Counterparty (CCP)
      • PFMI Disclosure
      • SST
  • Listing
      • Why Bursa Malaysia
      • Your Listing Destination
      • Get Listed
      • Listing Criteria
      • Listing Process
      • Cost of Listing
      • Fees and Charges
      • Issuer Services
      • Advisers / Sponsors
      • Supporting Partners
      • Listing Resources
      • IPO
      • IPO Prospectus
      • LFX Prospectus
      • Corporate Governance and Sustainability
      • Labuan International Financial Exchange (LFX)
      • Market Participants
      • Listing Sponsors List
      • Issuers
      • Financial Instruments
      • Fees
      • Business Process
  • Regulation
      • Overview
      • Structure
      • Overview
      • Regulatory Committees
      • Regulatory Oversight Body
      • Overview of Rules
      • Rules Making Process
      • About Bursa Malaysia Regulatory
      • Regulatory Approach/Philosophy
      • Supervision of Issuers
      • Supervision of Brokers
      • Enforcement
      • Market Surveillance
      • Listing Requirements
      • Main Market
      • ACE Market
      • LEAP Market
      • FAQs
      • Securities
      • Rules of Bursa Malaysia Securities
      • Rules of Bursa Malaysia Securities Clearing
      • Rules of Bursa Malaysia Depository
      • Derivatives
      • Rules of Bursa Malaysia Derivatives
      • Rules of Bursa Malaysia Derivatives Clearing
      • Bonds
      • Rules of Bursa Malaysia Bonds
      • Islamic
      • Rules of Bursa Suq Al-Sila' (BSAS)
      • Best Practices for Islamic Stockbroking Services
      • Labuan International Financial Exchange (LFX)
      • Rules of LFX
      • Directives / Circulars
      • FAQs Relating to Bursa Malaysia Rules
      • Public Consultation
      • Communication Notes/Guides
      • [email protected]
      • Bursa Link
  • Reference
      • Research Repository
      • Overview
      • CMDF - Bursa Research Scheme (CBRS)
      • Non - CBRS Research Reports
      • Research Reports
      • Insights
      • Derivatives
      • Institutional Insights
      • Regulatory Insights
      • Bursa Academy
      • [email protected]
      • Market Terminologies
      • FAQs
      • Securities
      • Derivatives
      • Islamic Markets
      • Labuan International Financial Exchange (LFX)
      • LEAP
      • Central Depository System (CDS)
  • About Bursa
      • About Us
      • Overview
      • Who We Are
      • Our Organisation
      • Corporate Governance
      • Board of Directors
      • Top Management Team
      • Other Corporate Information
      • Corporate History
      • Awards and Certification
      • Calendar
      • Tenders
      • Related Links
      • Investor Relations
      • IR Home
      • Financial Information
      • Stock Information
      • Shareholdings
      • Information for Shareholders
      • Information Request
      • Other Information
      • Sustainability
      • Overview
      • Governance of Sustainability
      • Assessment of Material Matters
      • Engaging our Stakeholders
      • Our Contribution to Sustainable Development Goals
      • Sustainability Reports
      • Others
      • Risk & Compliance
      • Overview
      • Framework & Governance
      • Enterprise Risk Management
      • Compliance Management
      • Business Continuity Management
      • Media Centre
      • Speeches
      • Gallery
      • Media Releases
      • Articles
      • Careers
Company Announcements
Guided Tour
English
Bahasa Malaysia
简体中文
[email protected]

You will be-redirected to [email protected], are you sure you want to leave this page?

Leave this page
Help Centre

You will be-redirected to Help Desk, are you sure you want to leave this page?

Leave this page
Bursa Link

You will be-redirected to Bursa Link, are you sure you want to leave this page?

Leave this page
Bursa Marketplace

You will be-redirected to Bursa Marketplace, are you sure you want to leave this page?

Leave this page
LFX Listing Sponsor

You will be-redirected to LFX Listing Sponsor, are you sure you want to leave this page?

Leave this page
Corporate Governance and Sustainability

You will be-redirected to BursaSustain website, are you sure you want to leave this page?

Leave this page
Corporate Governance and Sustainability

You will be-redirected to BursaSustain website, are you sure you want to leave this page?

Leave this page
Bursa Academy

Bursa Academy

Leave this page

Bonds

Bonds are fixed income securities issued to lenders of long-term loans, with a maturity date. They provide returns in the form of fixed periodic payments.
  • Equities
  • Bonds
  • Derivatives
  • Islamic Markets
  • Indices
  • LFX
  • Co-Location Services
  • BTS2 On-Boarding
  • Network Access and Infrastructure Services (NAIS)
  • Central Depository System (CDS)
Menu expand
  • Exchange Traded Bonds and Sukuk (ETBS)
  • Over the Counter
  • Listed under Exempt Regime Bonds
    • Overview
    • List of Exempt Regime Bonds / Sukuk
  • Loan Stocks
  1. Home
  2. Trade
  3. Our Products & Services
  4. Bonds
  5. Exchange Traded Bonds and Sukuk (ETBS)

Exchange Traded Bonds and Sukuk (ETBS)

Bonds Calculator
How to use the bond calculator

Bonds Calculator
How to use the bond calculator

How to use the bond calculator
Bond Calculator - allows you to calculate either the Clean Price or the Yield to Maturity
  1. Select the option whether to compute the Price or Yield
  2. Check the Settlement Date. Default is T.
  3. Key in the Maturity Date.
  4. Key in the Coupon Rate.
  5. Key in the Yield (to compute the Clean Price) or Clean Price (to compute the Yield).
  6. Click Calculate.
Transaction Cost Calculator - allows you to compute the net proceed for your Buy or Sale of the bond/sukuk
  1. Select the Transaction Type, either Purchase or Sale.
  2. Key in the quantity (in units) for your transaction.
  3. Key in the Dirty price. Please note that trading on Bursa Malaysia is on Dirty Price.
  4. Brokerage Fee, Clearing Fee and Stamp Duty are all provided by the system.
  5. Press Calculate and the Total Proceeds for your transaction will be computed.

undefined

Bonds/Sukuk have always been seen as an asset class to hedge when markets are bearish and a means to develop a steady income over many years. But in the past the bonds/sukuk market was accessible only to high net worth and institutional investors.

Now with ETBS, all investors can have access to the bond/sukuk market with ease, via the stock market.

DanaInfra NoticeNotice of 3rd DanaInfra Retail Sukuk

DanaInfra Knowledge PackDanaInfra Retail Sukuk Knowledge Pack

What are ETBS

ETBS are fixed income securities, also known as bonds or sukuk*, that are listed and traded on the stock market. ETBS are issued either by companies or governments (the issuer) to raise funds for their needs. ETBS have varying structures such as fixed rate, floating rate and hybrids.

* Sukuk refers to issues that complies with Shari'ah principles


Why Invest in ETBS?
Here are some of the reasons to invest in ETBS:
  1. Flexibility and Ease of Trading: ETBS are traded on Bursa Malaysia, making the buying and selling of ETBS as easy as trading in shares.
  2. Transparency: As ETBS are listed on the bourse, investors will have access to real-time prices and volumes, just like shares. This will enable investors to continuously monitor their investments and receive up-to-date information.
  3. Diversification: Investors can diversify their portfolio to include ETBS to complement their investments in other asset classes such as equities, derivatives, unit trusts, etc.
  4. Additional Income Stream: Investors can benefit from a steady income stream through regular coupon payments.

What are the factors that determine the price of an ETBS?
  1. Price and Yield

    ETBS pricing and yield are primarily determined by the demand and supply in the marketplace. Investors want as high a yield or return for their investment as they can get, thus when ETBS prices are low, investors are willing to pay less for a ETBS and therefore getting a better yield. In contrast, a high ETBS price would mean returns are lower, as coupon payments for an ETBS are generally fixed to the principal value of the bond.

  2. Interest Rates

    When interest rates change, ETBS prices change in response. This sensitivity to interest rates is one of the key influences on ETBS prices. Supposing the average interest rate available to investors goes up, the ETBS’ current yield will become a less attractive investment. This would result in investor demand falling off, causing a decline in the ETBS price; until the point where the yield becomes competitive with prevailing rates. The reverse occurs if interest rates go down.

  3. Risk

    Investors must consider the credit risk of the issuing entity before investing in its ETBS. Essentially, credit risk is the likelihood that the issuing entity will or will not be able to repay principal amount and its interest elements at maturity.

    This particularly applies to corporate ETBS, because corporations have more risk than most governments.

    ETBS are evaluated and rated by several agencies, including Malaysian Rating Corporation Berhad (MARC) or Ratings Agency Malaysia Berhad (RAM) for Malaysia while Moody's and Standard & Poor's for international rating. A top rating (AAA) means the ETBS carries the least credit risk. If a company's rating is downgraded, the ETBS will normally fall in price because investors won't pay as much for them.

  4. Maturity

    The future is always less certain than the present. In the financial world, uncertainty translates into risk. Consequently, ETBS with long maturities have somewhat more risk and tend to be priced lower (or have higher yields). As these ETBS eventually start to approach their maturity date, their prices start to get close to the par value. That's because investors know they will soon be getting their money, and little credit risk remains.


What are the minimum investment units?

ETBS are traded in minimum board lot size of 10 units per lot size. Given the principal price of RM100.00 per unit, each board lot will cost RM1000, excluding transaction costs.

What are the risks?
  1. Credit risk

    This risk arises if the ETBS issuer is unable to pay the coupon payment on the coupon date or the principal amount to the lender at maturity. Government bonds and sukuk are backed by the central government, thus deemed to have a low credit risk.

  2. Market risk

    This is the risk of price fluctuations and is impacted by the demand and supply in the market.

  3. Interest rate risk

    Valuation of the ETBS may be affected by the changes in interest rates e.g. if the interest rate rises, ETBS prices will fall as investors may relocate their investment to capture a rise in interest rates available in other instruments, for example, in bank deposit.


What are my considerations before investing in ETBS?
Product Comparison
Bonds/Sukuk Shares
Bonds/Sukuk are Debt Securities Stocks are Equity Securities
Bonds/Sukuk holder - they are the owner of a bond asset and do not have rights to the ownership of the company Shareholder - an owner of the company
Steady flow of payments known as coupon/dividends Dividend payments based on the policy and performance of the company
Generally less volatile Impacted by market volatility and forces
Time limit or maturity period Do not have a maturity period, unless delisted
Trade size is 10 units Trade Size is 100 units

* Bondholders will rank higher than shareholders in recourse in the event of liquidation.

How and where to start investing in ETBS?

ETBS trade like stocks, and are subject to the same trading payment and settlement rules (T+ 3). You will need to visit your nearest Participating Organisation (stock broking firm registered with Bursa Malaysia) to open a securities trading account and Bursa Central Depository System (CDS) account.


Issuer
DanaInfra Nasional Berhad
  • 0400GA
  • 0400GB
  • 0400GC
Brokers
  • AMINVESTMENT BANK BERHAD
  • CIMB INVESTMENT BANK BHD
  • MAYBANK INVESTMENT BANK BERHAD
  • RHB INVESTMENT BANK BHD
Downloads

Advanced ETBS Tutorial

Brochure
English | Bahasa Malaysia | Chinese (中文)

The Marketplace:
"New Sukuk Asset Class Launches on Bursa Malaysia"

Related Links
For Investors:
  • FAQs on Exchange Traded Bonds and Sukuk (ETBS)
  • Glossary of ETBS
For Issuers:
  • Listing Requirements
  • Bursa Malaysia Rules
DanaInfra Nasional Berhad (0400GA)- RM300.0 million in nominal value, 10‐year Exchange Traded Sukuk

Download

  • General Announcement
    • Allotment Announcement

    • Listing Announcement

  • Knowledge Pack (English)

  • Knowledge Pack (Bahasa Malaysia)

DanaInfra Nasional Berhad (0400GB) - RM100.0 million in nominal value, 15‐year Exchange Traded Sukuk

Download

  • General Announcement
    • Allotment Announcement

    • Listing Announcement

  • Knowledge Pack (English)

  • Knowledge Pack (Bahasa Malaysia)

DanaInfra Nasional Berhad - 0400GC

RM100.0 million in nominal value, 7-year Exchange Traded Sukuk
Download

  • General Announcement
    • Allotment Announcement

    • Listing Announcement

  • Knowledge Pack
    • English

    • Bahasa Malaysia

About Bursa Market Information Trade Listing Regulation Reference
Bursa Marketplace Bursa Link LFX [email protected] Bursa SUSTAIN Bursa Academy
Terms & Conditions of Use, Disclaimer and Linking Policy Personal Data Notice Sitemap Website FAQs
Contact Us Help Centre
RSS Feeds

Subscribe to our RSS feeds and get the latest Bursa Malaysia news delivered directly to your desktop. Click on the orange RSS button to go to the Subscribe page.

You will need to install the RSS plugin to subscribe to the RSS Feeds.

Subscribe
Media Releases Subscribe
Investor Relations
  • Newsroom
Subscribe
Bursa Malaysia Listing Requirements
  • Main Market
  • ACE Market
Subscribe
Initial Public Offering Subscribe
Copyright © 2021 Bursa Malaysia Berhad 197601004668 (30632-P). All rights reserved.
Top