Dec 02 2010 |
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VIVA Kuwait Honored by the Association of Corporate Treasurers (ACT) Middle East
Recognition for the innovative concept in restructuring funding
The Trade Payables Restructuring Facility Deal that complies with the provisions of Islamic Sharia, was signed to finance the agreement with Huawei Technologies, one of the largest global corporations operating in the Middle East in terms of systems and communications technology provider of infrastructure service, was recognized by the Association of Corporate Treasurers (ACT) in the Middle East in the category of "best financing transactions at the level of the Middle East for 2010" as it finances a total of 270 million USD for a five-year period.
VIVA Kuwait , CFO, Abdulaziz Qatie indicated that granting VIVA Kuwait this award represents a milestone in the company's profile especially that the competition was among leading regional companies, which proves the distinction of the Trade Payables Restructuring Facility Deal in terms of value and funding costs which was positively reflected on the financial performance of the company in general. Al Qatie added that having strategic suppliers as a source of funding was adapted by VIVA Kuwait for the purpose of financing the process of developing the network with the latest technologies in the field of communication; particularly in light of the low cost of this type of funding in comparison with other financing alternatives. This agreement also represents an integral part of the integration and interdependence program with Saudi Arabia Telecommunication Group that supports such agreements from the perspective of having strategic partnership with all the suppliers of the STC Group.
About VIVA
VIVA is the newest, most advanced mobile telecommunications service provider in Kuwait. Launched in December 2008, VIVA makes things Possible for our customers by transforming communication, information and entertainment experiences. The company has rapidly established an unrivalled position in the market through our customer and employee centric approach. VIVA's quest is to be the mobile brand of choice for Kuwait by being transparent, engaging, energetic and fulfilling.
VIVA continues to take a considerable share of the market by offering an innovative range of best value products, services and content propositions; a state of the art, nationwide network and world-class service. VIVA offers Internet speed up to 21.6Mbps due to the implementation of the most advanced third generation (3G and HSDPA) network in Kuwait resulting in superior coverage, performance and reliability.
For more information, visit VIVA at one of our store locations or on www.viva.com.kw
Omar Al - Houti
Corporate Communication Manager
M: +965 50060044
T: +965 55670000
F: +965 55676715
E: omar.houti@viva.com.kw
W: www.viva.com.kw
A: Olympia Building P.O Box: 181 Postal Code: Salmiya 22002
Kuwait
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