All swapped out



As part of its effort to promote Malaysia as a financial hub for the region, the country's central bank late last year opened up its local bond markets, allowing foreign financial institutions to access funds in a relatively low-interest rate environment. Bank Negara Malaysia didn't have to wait long for a response. First came Gulf Investment Corporation, which raised bonds worth 1 billion ringgit ($313 million) in January. Then came the Export Import Bank of Korea (Kexim), a state-run export

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