Malaysia's leading rating agency to develop Sri Lankan bond market

Rating agency Malaysia Berhad (Ram) wholly owned subsidiary Lanka Rating led by its chief executive officer Priya Thamotheram and her team of analysts aims to break new ground in Sri Lanka.

Lanka rating is backed by a 40-strong team of experienced analysts based in Kuala Lumpur that will communicate constantly with Priya's team and will be physically in Colombo to provide technical support, the Director General of the securities and exchange commission, Sri Lanka Channa de Silva told Lankapuvath.

Ram's affiliation with Standard and Poor's the world's largest Credit Rating agency, Lanka rating is primed to offer international standards and independent local insights - to the financial community and investors in Sri Lanka.

Though Lanka Rating is a relatively new player in the market, it has the benefit of Ram's 15-year track record in Malaysia and its role as a bond market catalyst.

Ram has a 90 percent grip on the financial institutions ratings and an entrenched position in corporate and asset securitisation ratings in the Malaysian market having rated over 960 issues worth 68 billion US dollars since its inception.

Ram has identified Sri Lanka as an important market to develop its international rating operations in July 2005.

It is vital for Sri Lanka to build a strong and stable Bond Market to support the nation's economic Growth Lanka rating has been modeled as a domestic rating agency akin to Ram's own pivotal role in Malaysia to develop the bond market. Ram's participation in the development of Sri Lanka's Bond Market through Lanka Rating will reinforce the strong ties between, Sri Lanka and Malaysia.