Points to make
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*
HKG
UKG has been involved in a
and continuing understanding
exercise
about
has been
to
increase the MOU among
potential lenders. A high degree of goodwill the
achieved
-
even among most, conservative of lenders, some of whom had even previously demanded that MTRC and PAA borrowing be guaranteed by the Chinese Government.
If we now have to enter into a protracted negotiation on details of the MOU, this international goodwill could evaporate. Many lenders will be less prepared to lend, and those who do would charge higher interest. This could precipitate a situation where Government would have to commit further paid up and callable equity, or
even guarantee borrowings. Additional comforts from the Chinese Central Government may be demanded. Much better to settle quickly and cleanly.
Critical path : p. 2 of 2
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