Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
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 newsOfficial PublicationsSector newsAnalyst 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 EDT

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 1.30% 522.9 End-of-day quote.-0.95%
SOCIÉTÉ GÉNÉRALE -1.52% 22.37 Real-time Quote.-19.59%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MITSUBISHI UFJ FINANCIAL G
07/18Weak Earnings Weigh on U.S. Stocks
DJ
07/18Weak Earnings, Trade Tensions Weigh on Global Stocks
DJ
07/17Wall Street finds blockchain hard to tame after early euphoria
RE
07/16Wall Street finds blockchain hard to tame after early euphoria
RE
07/15GLOBAL MARKETS LIVE : Facebook, Gilead, AB Inbev, Boeing…
07/12Japan's polarised stock market leaves few options for investors
RE
07/11MITSUBISHI UFJ FINANCIAL : Announcement of Filing of Annual Report on Form 20-F ..
AQ
07/10MITSUBISHI UFJ FINANCIAL : Announcement of Filing of Annual Report on Form 20-F ..
PU
07/10MITSUBISHI UFJ FINANCIAL GROUP, INC. : Announces Filing of Annual Report on Form..
BU
07/10Japan's Yokohama, Chiba banks tie up to counter low interest rate environment
RE
More news
Financials (JPY)
Sales 2020 1 810 B
EBIT 2020 1 181 B
Net income 2020 925 B
Debt 2020 -
Yield 2020 4,82%
P/E ratio 2020 7,29x
P/E ratio 2021 7,01x
Capi. / Sales2020 3,73x
Capi. / Sales2021 3,47x
Capitalization 6 757 B
Chart MITSUBISHI UFJ FINANCIAL GROUP INC
Duration : Period :
Mitsubishi UFJ Financial Group Inc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MITSUBISHI UFJ FINANCIAL G
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 726,43  JPY
Last Close Price 522,90  JPY
Spread / Highest target 75,9%
Spread / Average Target 38,9%
Spread / Lowest Target 12,8%
EPS Revisions
Managers
NameTitle
Nobuyuki Hirano President, Group CEO & Representative Director
Kiyoshi Sono Executive Chairman
Muneaki Tokunari Group Financial Officer & Director
Hironori Kamezawa Group Chief Information Officer
Saburo Araki Vice Chairman
Sector and Competitors