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MARC has withdrawn its rating of AAID on Instacom SPV Sdn Bhd’s RM200.0 million Murabahah Medium Term Notes (MMTN) Programme. The rating withdrawal follows the early redemption of outstanding notes amounting to RM5.0 million under the MMTN programme and the cancellation of the same on October 31, 2014 as confirmed by the facility agent.Upon the withdrawal of the rating, MARC will no longer ...
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MARC has affirmed the rating of Instacom SPV Sdn Bhd’s (ISPV) RM200.0 million Murabahah Medium Term Notes (MMTN) Programme at AAID with a stable outlook. ISPV, a wholly-owned subsidiary of Instacom Engineering Sdn Bhd (IESB), was set up solely to facilitate the issuance of the MMTNs to finance the purchase of completed telecommunication (telco) towers constructed by the latter. ISPV has RM15...
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MARC has affirmed the rating of Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium-Term Notes (MMTN) Programme at AAID with a stable outlook. ISPV is a wholly-owned subsidiary of Instacom Engineering Sdn Bhd (IESB) that was set up solely to facilitate the issuance of the MMTNs to finance the purchase of completed telecommunication (telco) towers constructed by the latter. As of dat...
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MARC has affirmed the rating of Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium Term Notes (MMTN) Programme at AAID. The outlook on the rating is stable. ISPV is a wholly-owned subsidiary of Instacom Engineering Sdn Bhd (IESB) set up to facilitate the issuance of the MMTN to finance the purchase of completed telecommunication towers (telco towers) constructed by IESB. The affirm...
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MARC has affirmed its AAID ratings on Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium Term Notes (MMTN) Programme with a stable outlook.Instacom SPV Sdn Bhd was established to facilitate the issuance of notes under the MMTN Programme on behalf of Instacom Engineering Sdn Bhd (IESB), a telecommunication tower (telco tower) contractor. Proceeds from the issuance of notes are used ...
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MARC has upgraded Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium-Term Notes (MMTN) programme rating to AAID from AA-ID. ISPV is a special purpose company incorporated to facilitate the issuance of the MMTN to finance the purchase of completed telecommunication towers and infrastructure from its holding company, Instacom Engineering Sdn Bhd (IESB), a sub-contractor of telecommun...
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MARC has affirmed the rating of AA-ID on Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium-Term Notes (MMTN) programme. The rating carries a stable outlook. ISPV is a special purpose company owned by Instacom Engineering Sdn Bhd (IESB), and incorporated to facilitate the issuance of the Sukuk for the sale and purchase of completed telecommunication towers and infrastructure. Retur...
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The rating of Instacom SPV Sdn Bhd’s (Instacom SPV) RM200 million Murabahah Medium-Term Notes (MMTN) has been reaffirmed at AA-ID. The rating outlook is stable. The re-affirmed rating reflects the credit quality of the rental payment stream from creditworthy telecommunication companies (telcos) for the use of telecommunication towers constructed by Istacom Engineering Sdn Bhd (Instacom Engin...
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Instacom SPV Sdn Bhd’s (Instacom SPV) RM200 million Murabahah Medium-Term Notes’ (MMTN) rating has been affirmed at AA-ID with a Stable Outlook. The rating reflects the strength of the issue structure governing the programme which eliminates the risks from construction and its associated costs, ensures robust cash flows from strong off takers such as Maxis Telecommunications and Digi a...
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This proposed Murabahah Medium-term Notes (“MMTN”) programme represents a structured transaction involving the assignment of license/ rental payments due from the local telecommunication companies (“telcos”) to the Issuer, Instacom SPV Sdn Bhd (“Instacom SPV”); in respect of the erection of telecommunication towers (“towers”) and construction of related infrastructure. Accordingly,...
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