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China Construction Bank provides term loan for Malaysia-China Kuantan Industrial Logistic Park (MCKILP) Project
| Funder | China Construction Bank Corporation (CCB) |
|---|---|
| Recipient Organization | MCKILP Development Sdn. Bhd. |
| Country | Malaysia |
| Start Date | Oct 18, 2023 |
| End Date | Mar 10, 2027 |
| Duration | 1,239 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 108375 |
Grant Description
China Construction Bank provides term loan for Malaysia-China Kuantan Industrial Logistic Park (MCKILP) Project On October 18, 2023, China Construction Bank signed a term loan agrement with MCKILP Development Sdn.
Bhd. — a joint venture of China Harbour Engineering Company Ltd. (CHEC), Malaysia's IJM Corporation and the Guangxi-based Beibu Gulf Port Group created on August 3, 2022 -- for the Malaysia-China Kuantan Industrial Logistic Park (MCKILP) Project.
The purpose of the RMB 6 billiion project is to build an integrated mixed development and logistic hub in Kuantan. MCKILP is to be developed on a 640-acre site in Malaysia-China Kuantan Industrial Park (MCKIP).
It will focus on the development of warehousing, logistics, distribution, processing and transit trade, with the aim of crafting itself into a logistics hub in Southeast Asia of the New International Land-Sea Trade Corridor, a trade and logistics passage jointly built by western Chinese provincial regions and Singapore.
CHEC and IJM Corporation are jointly responsible for project implementation. The project's official groundbreaking ceremony took place April 7, 2023.
Staff Comments
- The Chinese project title is 中关丹国际物流产业园跨境项目.
- The face value of the CCB term loan is unknown. For the time being, AidData assumes that the RMB 6 billion project was financed according to a debt-to-equity ratio of 70:30, which implies that the loan commitment was equivalent to RMB 4.2 billion. This issue warrants further investigation.
- Asas Panorama Sdn. Bhd, IJM Corporation Berhad’s (“IJM”) indirect subsidiary that is owned 60:40 by IJM Land Berhad and Guangxi Beibu Gulf International Port Group Co Ltd (“Guangxi Beibu”). CHEC holds an equity interest of 51% in MCKILP Development Sdn. Bhd. while Asas Panorama Sdn Bhd. holds the remaining 49% equity interest.
Sources & References
- Malaysia-China international logistic park breaks ground in Malaysia
- HHQ Shortlisted in 5 Categories at ALB Malaysia Law Awards 2024
- New logistics park set to transform MCKIP into premier industrial hub
- 马中关丹国际物流园成功举办跨境产业链供应链发展机遇论坛并与顺丰速运签署合作意向
- Discover & gain insights on MCKILP DEVELOPMENT SDN. BHD. (Malaysia)
- IJM and CHEC’s mixed development and logistics hub set to be game changer for the east coast
- List of Practical Cooperation Deliverables of the Third Belt and Road Forum for International Cooperation Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
MCKILP Development Sdn. Bhd.
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