PAAB - What does PAAB stand for? The Free Dictionary
References in periodicals archive
PASB is a special-purpose vehicle set up as a 100 per cent-owned subsidiary of PAAB, to finance the latter's acquisition of water assets and accompanying liabilities in Peninsular Malaysia and Labuan, as well as the subsequent development of water infrastructure in the states involved.
Under the transaction structure, the Sukuk holders' recourse to PAAB is recognised via an irrevocable and unconditional Purchase Undertaking Deed.
In this regard, we recognise the strong credit link between the SPV and PAAB
, and thus view both companies in aggregate from a credit perspective.