Project ID: 67075

Bank of China provides RM 100 million to support the construction of a theater in Impression City in Melaka in Malaysia

Commitment amount

$ 27025241.896414418

Adjusted commitment amount

$ 27025241.9

Constant 2021 USD

Summary

Funding agency [Type]

Bank of China (BOC) [State-owned Commercial Bank]

Recipient

Malaysia

Sector

Other social infrastructure and services (Code: 160)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

Yes

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2018-01-01

Geography

Description

On January 8th, 2018, Yong Tai Group signed a strategic alliance agreement with the Bank of China about the financial support toward the construction of Encore Melaka Theater in Impression City in Melaka, Malaysia. According to the agreement, the Bank of China will provide RM 100 million to facilitate the construction of the theater as well as operational costs. Out of the RM100 million loan, the bulk of RM90 million will go towards financing the construction of the theatre which costs between RM300 million to RM400 million. The remaining RM10 million will be used for initial operational expenses such as the payment of local performers. Loan details are unknown.

Additional details

Number of official sources

2

Number of total sources

8

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Details

Cofinanced

No

Direct receiving agencies [Type]

Yong Tai Group [Private Sector]

Loan Details

Bilateral loan

Investment project loan