New Paradigm Capital Markets has been awarded the Best Murabahah Deal in South-East Asia by Alpha South-East Asia at the 13th Annual Best Deal & Solutions Awards 2019 for its role as financial adviser and deal structurer for Exsim Capital Resources Bhd’s RM3bil sukuk programme.
This programme comprised a RM2bil sukuk musharakah Islamic medium term notes programme and a RM1mil sukuk murabahah Islamic commercial paper programme.
Structured, developed, arranged and advised by New Paradigm Capital Markets, Alpha Southeast Asia noted in its award announcement that “this is the first syariah compliant securitisation of progress billings and monetisation of progress billings involving multiple development projects with multiple construction programs in the market globally.
“This is also the first securitisation of progress billings involving multiple development projects with multiple construction programs in Malaysia.
“This securitisation programme also combines two separate structured programme s that is stapled together, making this securitisation programme a truly innovative and landmark transaction, for others to follow.
“It is an honour to accept this award on behalf of New Paradigm Capital Markets.
“I could not be more proud of our team’s achievement in completing this deal of such complexity.
“I thank our team for their outstanding effort and innovative solutions to deliver an unprecedented result in the Malaysian Islamic capital markets, ” said New Paradigm founding partner Charanjeev Singh.
“We are proud to work with the team at Exsim, leveraging our firm’s structuring expertise to support this important transaction.
“The team performed exceptionally well on this deal, and while we are proud of this award, we are also thrilled that we could over-deliver with results for our client, ” said the other founding partner Danny Kwan.
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