Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo  >  Mitsubishi UFJ Financial Group, Inc.    8306   JP3902900004

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(8306)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Mitsubishi UFJ Financial : Societe Generale sets up sukuk programme in Malaysia

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/11/2014 | 11:59pm EST

SINGAPORE (Reuters) - Societe Generale (>> SOCIETE GENERALE), France's third-largest bank by assets, will set up a 1 billion ringgit ($311.3 million) multi-currency sukuk (Islamic bonds) programme in Malaysia, the second conventional bank to do so in as many weeks.

SINGAPORE (Reuters) - Societe Generale (>> SOCIETE GENERALE), France's third-largest bank by assets, will set up a 1 billion ringgit ($311.3 million) multi-currency sukuk (Islamic bonds) programme in Malaysia, the second conventional bank to do so in as many weeks.

Sukuk are growing in popularity as a funding choice for corporates and sovereigns across the globe, with Malaysia a preferred jurisdiction as the largest and most liquid Islamic capital market.

The programme would issue sukuk through a wholly owned subsidiary of SocGen, a structure featuring back-to-back sharia-compliant contracts that would provide investors legal recourse to the French lender, Kuala Lumpur-based credit ratings firm RAM Ratings said in a bourse filing on Thursday.

SocGen did not immediately respond to requests from Reuters for comment.

Reuters reported last year that SocGen was considering issuing $300 million worth of sukuk in Malaysia, with proceeds used to expand the bank's operations in the Middle East.

RAM Ratings gave the bond programme a AAA(s), or stable, rating but gave no details on the sukuk tenure, structure or when a first issuance might occur.

The announcement comes a week after Bank of Tokyo-Mitsubishi UFJ, a unit of the Mitsubishi UFJ Financial Group (>> Mitsubishi UFJ Financial Group Inc), set up a $500 multi-currency sukuk programme in Malaysia.

Such new issuers are crucial in Malaysia's efforts to internationalise its Islamic capital markets, which remains dominated by domestic issuers. International firms represent less than 10 percent of total issuance.

An accommodative tax regime and strong demand from local investors have made Malaysia an attractive market for issuers from as far away as Kazakhstan, but big names could encourage even more firms to tap the market.

Malaysia's sukuk market saw a 26 percent slump in issuance last year due to uncertainty ahead of national elections and worries about the Federal Reserve's monetary policies, credit ratings agency Moody's said in a report.

Moody's estimates issuance will pick up by 10 percent over 2014 and 2015.

(Reporting by Al-Zaquan Amer Hamzah and Bernardo Vizcaino)

Stocks treated in this article : SOCIETE GENERALE, Mitsubishi UFJ Financial Group Inc
Stocks mentioned in the article
ChangeLast1st jan.
MITSUBISHI UFJ FINANCIAL GROUP, INC. -0.49% 574 End-of-day quote.-1.85%
SOCIÉTÉ GÉNÉRALE 0.05% 30.19 Real-time Quote.-2.66%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MITSUBISHI UFJ FINANCIAL G
01/21MITSUBISHI UFJ FINANCIAL : MUFG recognized in 2020 Bloomberg Gender-Equality Ind..
PU
01/21MITSUBISHI UFJ FINANCIAL : Notice regarding Completion of Cancellation of Own Sh..
PU
01/17MITSUBISHI UFJ FINANCIAL : to promote deputy head to CEO in April
AQ
01/17MITSUBISHI UFJ FINANCIAL : Japan's MUFG replaces CEO after one year, digital chi..
RE
01/17Japan December exports seen falling at slower pace on tech pick-up - Reuters ..
RE
01/17MITSUBISHI UFJ FINANCIAL : Notice Regarding Change of Representative Corporate E..
PU
01/15Japan's MUFG to pick deputy president Kamezawa as CEO to beef up digital stra..
RE
01/15MITSUBISHI UFJ FINANCIAL : Regarding Today's Reports in Certain Media (PD..
PU
01/14The first earnings season of 2020 starts
2019MITSUBISHI UFJ FINANCIAL : Recording of Extraordinary Losses Associated with One..
PU
More news
Financials (JPY)
Sales 2020 3 868 B
EBIT 2020 1 137 B
Net income 2020 830 B
Debt 2020 -
Yield 2020 4,39%
P/E ratio 2020 8,81x
P/E ratio 2021 7,96x
Capi. / Sales2020 1,91x
Capi. / Sales2021 1,88x
Capitalization 7 389 B
Technical analysis trends MITSUBISHI UFJ FINANCIAL G
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 727,08  JPY
Last Close Price 574,00  JPY
Spread / Highest target 65,5%
Spread / Average Target 26,7%
Spread / Lowest Target -14,6%
EPS Revisions
Managers
NameTitle
Kanetsugu Mike President & Director
Nobuyuki Hirano Co-Chairman
Hironori Kamezawa Group Chief Information Officer
Saburo Araki Vice Chairman
Junichi Okamoto Director
Sector and Competitors