TNAG-1512-FCO40-2070-Kowloon-Canton-highway-and-Kowloon-Canton-Railway-Corporatio-1986 — Page 185

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ONLY THE BOCA TIGRIS, FINANCE IS LIKELY TO BE VERY DIFFICULT TO RAISE, UNLESS A BANK OF CHINA GUARANTEE IS GIVEN. WE ASSUME THIS

WILL ONLY BE FORTHCOMING IF THE PROJECT HAS SPC BEIJING

ENDORSEMENT.

IS THIS YOUR PERSPECTIVE?

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