In a filing with the stock exchange yesterday, Axiata said the letter was received on Monday. “After considering the reinvestment opportunities, Celcom will be funding the spectrum fees mainly through its internally generated funds and existing sukuk programme,” it said. Axiata said the borrowings are not expected to have any material impact on its consolidated earnings, earnings per share and net assets. Its gearing level, net debt-to-Ebitda (earnings before interest, taxes, depreciation and amortisation), will be below 2 times, it added. “Celcom and Celcom Mobile had today (yesterday) submitted to MCMC the acceptance of the 900MHz and 1,800MHz spectrum assignment with the above payment terms,” it said.

Source: The Edge Markets November 03, 2016 02:20 UTC