Cagamas, Malaysia's state-controlled secondary mortgage agency, has sent out RFPs for a deal backed by loans to small and medium sized entities. The RFP makes no mention of potential deal size or timing, only the assets involved, with bids due in mid-February, according to bankers familiar with the situation.

It unclear how many banks have been invited to pitch. Of the international banks, though, it seems a fair assumption that houses with Malaysian deal execution pedigrees - Deutsche Bank, HSBC, Nomura Securities and Standard Chartered - will be in the frame.

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