Malaysia's Cagamas in JV with HK Mortgage Corp

KUALA
LUMPUR: Malaysia's national mortgage house Cagamas Bhd have signed a joint venture
with the Hong Kong Mortgage Corporation (HKMC) to develop an international
mortgage warrant business, Cagamas said on Thursday. "The strategical partnership
will leverage on the synergism between Cagamas' cognition of the Malayan and
Islamic marketplaces and the HKMC's expertness and path record in pioneering mortgage
insurance concern in Hong Kong," Cagamas said in a statement. It said the venture would
start in Malaya in early 2008 with a mortgage-guarantee programme for
conventional and Islamic mortgages.