KUALA LUMPUR (Dec 18): Malaysia plans to increase the number of government bond auctions by one issuance next year, according to the central bank’s calendar.

There are 18 auctions scheduled for Malaysian Government Securities and 19 for their Islamic counterparts Government Investment Issues, including both new and reopenings, according to Bank Negara Malaysia (BNM). All in all, the plan calls for 37 auctions in 2026.

BNM will hold three auctions per month, four in June, August and October, and one in December, the calendar showed. Most of the auctions are focused on three-year and 10- to 30-year tenors.

Malaysian Government Securities and Government Investment Issues are issued following competitive auctions by BNM on behalf of the government. BNM usually publishes an annual calendar that outlines the type and number of issuances.

In 2025, Malaysia held 36 auctions raising a total of RM168.5 billion, including private placements, on the back of strong demand. The bid-to-cover ratio, which compares the total value of bids to the amount available, averaged about 2.5 times for this year’s auctions.

The last auction for this year, a 10-year reopening of conventional government bonds maturing in July 2035, saw demand coming in nearly twice the issuance size.

In a reopening, the Malaysian government sells additional amounts of a previously issued bond, which enlarges the size of the outstanding issue. The new paper carries the same maturity date and coupon.