KUALA LUMPUR (Jan 3): Malaysia’s national mortgage corporation Cagamas Bhd ended 2024 raising a total of RM21.31 billion, 27% lower than the record-high funds raised a year earlier.

The amount raised in 2024 includes RM2.59 billion through multiple foreign currency issuances, Cagamas said in a statement. International support helped to weather market volatility amid shifting US Federal Reserve’s policies, global geopolitical tensions, and US election uncertainties, it noted.

“Looking ahead, Cagamas is dedicated to strengthening the secondary mortgage market and advancing the development of the capital market in 2025 and beyond,” the company said.

Cagamas — which issues bonds and sukuk to finance the purchase of housing loans from financial institutions and non-financial institutions — is the second largest issuer of debt instruments in Malaysia, after the government.

In 2024, the company issued its inaugural social repurchase agreement, with proceeds raised from the transaction to be used to purchase small and medium-sized enterprises (SMEs) loans.

In 2023, the company raised a record-high RM29.3 billion, even as economic growth at home slowed sharply amid tightening global monetary policies, restrictive financial conditions, weakening global trade, and lingering uncertainties from geopolitical instability.