NewParadigm wins best structured finance sukuk award

NEWPARADIGM Capital Markets was awarded the Best Structured Finance Sukuk by the Asset at The Asset Triple A Islamic Finance Awards 2018.

This is the fourth award that NewParadigm has won for the landmark sukuk transaction that it structured.

For its role as financial adviser and deal structurer for SkyWorld Capital Bhd’s RM1bil sukuk programme comprising a RM600mil sukuk musharakah medium term notes programme and a RM400mil sukuk murabahah commercial paper programme.

NewParadigm Capital Markets has to date won the following awards:

> Structured Finance Deal of the Year 2017 by Islamic Finance News.

> Securitisation and Structured Finance Deal of the Year 2018 – Asia-Pacific by the Banker.

> RAM Blueprint Award 2017 – Structured Finance Landmark Deal of the Year by RAM Ratings.

> The Asset Triple A Islamic Finance Awards 2018 – Best Structured Finance Sukuk by The Asset

Structured, developed, arranged and advised by NewParadigm Capital Markets, this is the first structured transaction in Malaysia involving unbilled sales and the first in the world to involve affordable housing as well as the first syariah compliant securitisation of progress billings and mon- etisation of progress billings in the market globally.

In a release, NewParadign said that this transaction monetises future payments to be received from the sale of yet-to-be-completed development projects allowing the Issuer to more efficiently manage project development cash flows.

The founding partners of NewParadigm Capital Markets, Charanjeev Singh and Danny Kwan accepted the award during the award ceremony in Kuala Lumpur earlier this week.

“It is an honour to accept this award on behalf of NewParadigm Capital Markets. This recognition means an incredible amount to all of us at NewParadigm Capital Markets, as we are able to have an active part in the development of the Malaysian bond market,” says Charanjeev.

“Even more significantly, these awards are an endorsement of the positive impact that NewParadigm Capital Markets can create in providing innovative financial solutions to the bond market domestically as well as globally,” says Kwan.