Daim may have plans to ‘part finance’ Vincent’s share of the ECRL
The Third Force
Robert Kuok owns 13 percent of a Hong Kong based investment entity that has some serious links with China’s State Council (SC), the chief administrative authority of the People’s Republic of China.
The entity, CITIC Limited (previously known as CITIC Pacific), is an investment firm that is subsidiary to a state-owned conglomerate, CITIC Group Corporation Ltd (CITIC).
In 1984, the People’s Bank of China approved the setting up of a banking division under CITIC that came to be known as the China CITIC Bank.
Like the Export-Import Bank of China (EXIM), CITIC helps the Chinese government administer assistance to ASEAN nations in a bid to realise China’s “One Belt, One Road (B&R),” the initiative under which the ECRL project is parked.
EXIM agreed to provide soft loans to help finance the project.
CITIC, on the other hand, has agreed to deepen its commitment to the B&R initiative by providing more assistance to ASEAN nations.
Question is, will Daim now offer to part finance the ECRL by tying his banking network up with EXIM and ECRL?
