After a selection process that began towards the end of 2004, speculation is rife that Cagamas, Malaysia's secondary mortgage agency, has finally decided on who will arrange its SME-loan securitization. In a new twist, reports from Kuala Lumpur suggest the agency is backing two proposals: the joint bid by Citigroup Global Markets and Aseambankers and the alliance between Deutsche Bank Securities and Overseas Chinese Banking Corp.

Officials at Deutsche Bank and Citigroup declined to comment but several bankers familiar with the Malaysian ABS scene insisted Cagamas has decided to do two deals. If true, it remains to be seen whether the transactions will launch simultaneously or not.

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