Celcom Timur's facility downgraded from P3 to NP, BUSINESS TIMES Business Times (Malaysia) | March 5, 2001| | . Provided by ProQuest LLC. (Hide copyright information) Copyright

Mohd R. Jamaludin
Business Times (Malaysia)
03-05-2001
RATING Agency Malaysia Bhd (RAM) has downgraded the short-term rating
of Celcom Timur (Sarawak) Sdn Bhd's RM100 million Revolving Underwritten
Facility (RUF) from P3 to NP.
The downgrade to non-investment rating by RAM was largely affected by
the credit risks of Celcom Timur's largest customer, Celcom (Malaysia)
Sdn Bhd (Celcom).
Celcom not only contributes over 95 per cent of Celcom Timur's revenue
stream but is also a major shareholder with 60 per cent stake in the Sarawak
company.
The rating downgrade reflects the slow receivable collection ...

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