PP BTC HONG KONG
GPL 50
CYPHER CAT A
FM E C G D 111330Z
RESTRICTED
ION
HKKS 17.3/1
R.
790, 51
1 5 AUG 1978
INDU
?
Mr Thrapson
en
E. C. E D
R129
TO PRIORITY BTC HONG KONG TELNO EXCED 036 OF 11/8
FOR MARCH FROM BIRCH.
YOUR EXCED 34 OF 8 AUGUST 78 REFERES. THIS IS COPY OF
EXCED SENT TO THOMPSON.
QUOTE
SRL 1027140
TO: MR_NORMAN THOMPSON HONG KONG MASS TRANSIT CORP FROM ECGD EXECUTIVE GROUP A5/15 YOUR TELEX OF 25 JULY
REFERS THE SALE AND LEASE BACK OF EQUIPMENT FINANCED
UNDER EXISTING ECGD SUPPORTED LOANS WOULD CREATE SERIOUS
PROBLEMS FOR ECGD AND MY IMMEDIATE REACTION IS THAT ANY
SALE WOULD HAVE TO BE ACCOMPANIED BY REPAYMENT TO THE ECGD
SUPPORTED LENDER OF LOAN MONIES RELATED TO THE ASSET
YOU HAVE SOLD. AS TO FUTURE PURCHASES BY A NOMINEE COMPANY
FOR SALE TO A LESSOR FOR LEASING TO MTRC THIS IS FEASIBLE IN
PRINCIPLE BUT RAISES IMPORTANT ISSUES WHICH MUST DEPEND
ON THE SORT OF ARRANGEMENTS THAT YOU HAVE IN MIND I SUGGEST
WE DUSCUSS THEM WHEN I SEE YOU NEXT WEEK.
REGARDS GOTTERILL ECGD, 27TH JULY 1978 1424JJ UNQUOTE.
H.K-ED
TRED
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