ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Oct 17, 2017 17:06 JST
Source:
Asia Allied Infrastructure Holdings Limited
Asia Allied Infrastructure Concludes HK$900 Million Loan Facility Agreement
Continue to Expand Business into Different Markets; Further Enhance Long-term Profitability
HONG KONG, Oct 17, 2017 - (ACN Newswire) - Asia Allied Infrastructure Holdings Limited ("Asia Allied Infrastructure" or "the Group") (stock code: 00711) is pleased to announce today that it has entered into a HK$900 million term loan facility agreement with three banks. Part of the loan will be used to restructure the loan portfolio of the Group, while the rest will be used for new business development. This facility will lower the finance cost of the Group, strengthen its financial position and enable the Group to accelerate its business into the market of the Asia region and overseas.
The 3-year facility of HK$900 million carrying an interest rate of HIBOR+1.70% was lead-arranged by The Hongkong and Shanghai Banking Corporation Limited and Wing Lung Bank, Limited, with China Construction Bank (Asia) Corporation Limited joining the Mandated Lead Arranger group.
Mr. Dominic Pang, Chairman of Asia Allied Infrastructure, said, "We would like to express our sincere gratitude to the three banks for their support to the Group. Long-term cooperation with financial institutions is always important to our Group as it allows us to further reinforce our core businesses as well as explore business opportunities in Hong Kong, the Mainland China and overseas market. With solid financial support together with more than half a century experience in the construction and property development sectors, the Group will seize collaboration opportunities of public-private partnership model ("PPP") projects in the PRC and large-scale infrastructure projects from 'Belt and Road' countries moving forward; as opposed from participating in the form of one-off projects in the past, we will be investing long-term in local construction related companies with good potential, to achieve the strategic goal of 'Entering China, and Going Global'."
Photo Caption:
Mr. Dominic Pang, Chairman of Asia Allied Infrastructure (Fifth from right); Mr. Jerry Xu, Deputy Chairman of Asia Allied Infrastructure (Fourth from right), Ir Dr. Derrick Pang, JP, Chief Executive Officer and Chief Operating Officer of Asia Allied Infrastructure (Fifth from left), Mr. Martin Shea, Chief Financial Officer and Company Secretary of Asia Allied Infrastructure (Third from right) together with representatives of The Hongkong and Shanghai Banking Corporation Limited; Wing Lung Bank, Limited and China Construction Bank (Asia) Corporation Limited attended the signing ceremony.
Asia Allied Infrastructure Holdings Limited (stock code: 00711.HK)
Asia Allied Infrastructure Holdings Limited ("AAI") is listed on the Main Board of the Hong Kong Stock Exchange under stock code 711. It is engaged in various businesses including construction engineering and management, project consultancy, property development, security services and property management, tunnel management, safe deposit box services, construction finance and investment, online procurement of construction materials, etc. With Hong Kong as its business development base, AAI is also exploring development opportunities with Asia as the main focus, as well as in overseas markets. Its subsidiary "Chun Wo" is a renowned construction contractor and property developer in Hong Kong, which enables AAI to capitalise on that company's solid construction experience and professional capabilities to seize the opportunities for infrastructure development in countries along the "Belt and Road" initiative, and, ultimately, to increase overall profitability and create higher investment value.
For press enquiries:
Strategic Financial Relations Limited
Cindy Lung (852) 2864 4867
cindy.lung@sprg.com.hk
Isabel Kwok (852) 2864 4824
isabel.kwok@sprg.com.hk
Wilson Ngan (852) 2114 4318
wilson.ngan@sprg.com.hk
Source: Asia Allied Infrastructure Holdings Limited
Sectors: Daily Finance, Daily News, Construct, Engineering
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST
Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST
MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST
GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST
Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST
UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST
MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST
Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST
Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST
Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST
TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
More Latest Release >>
Related Release
Asia Allied Infrastructure Concludes HK$1.1 Billion 3-Year Term Loan Agreement
March 14 2023 11:21 JST
Mattex Asia Announces Partnership With Build King
October 07 2021 16:24 JST
Novaliches-Balara Aqueduct 4 Project in The Philippines Successfully Completed Tunnel Breakthrough
August 25 2021 19:07 JST
See Change Education Joins "Go Hong Kong Team" Campaign
July 30 2021 19:21 JST
Chun Wo Announces Research and Development Results of "Modular Integrated Construction Systems"
November 23 2020 15:40 JST
The Second "Chun Wo Innovation Student Awards" Receive Overwhelming Response - Attracts Over 70 Student Teams
August 31 2020 16:38 JST
Chun Wo's Second "Innovation Student Awards" Open For Application
April 01 2020 16:35 JST
Asia Allied Infrastructure Concludes HK$1.25 Billion 3-year Term Loan Agreement
March 17 2020 18:19 JST
Uniting Hong Kong People to Fight the Coronavirus, Chun Wo Charitable Foundation Donates over 200,000 Surgical Masks and HK$400,000
February 21 2020 17:37 JST
INNO@CHUNWO Succeeds In Developing R2M2 - Enhances Efficiency of Repairing Old Buildings
January 21 2019 20:50 JST
More Press release >>