State-controlled Malaysian shipping firm MISC Bhd has deferred its planned US$750 million bond offer in the wake of global volatility in markets due to the US subprime crisis.

"Basically, we have deferred our US bond issue. We didn't go ahead with it. The market is not conducive for us to proceed," Bernama quoted MISC chairman Mohd Hassan Merican as saying.

The company was not in a rush to raise funds abroad at the moment because it has enough funds to finance its needs, he said.

"Let's see how the market settles down first before we look at other alternative markets or other countries (from which to raise funds)," he said.

MISC, or the Malaysia International Shipping Corporation is Malaysia's top liquefied natural gas transporter.