PETALING JAYA: In a judgement that will likely send ripples in the private debt securities (PDS) market, the High Court ruled that the adviser and arranger of such issues were just as liable as the issuer for losses suffered by bondholders.
The Singapore Business Times in a recent report said the judgement by Justice Mary Lim, based on an RM149mil lawsuit filed by 10 local financial institutions against bond issuer Pesaka Astana (M) Sdn Bhd, would “radically raise the bar on standards governing private debt issues in Malaysia.”
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
