In Malaysia, Time Engineering recently completed an M$566.6 million ($149 million) Islamic securitization via Commerce International Merchant Bankers. The deal is the first issued from an M$2.5 billion ABS facility, established last month.

Time, which provides IT products and services, is 45.63% owned by government conglomerate, United Engineers. Government involvement does not stop there, either, as reports from Malaysia suggest that around 60% of the paper was placed with the state-run Employment Provident Fund, the country's biggest pension fund.

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