Project ID: 96635

Bank of China provides a RM16,000,000 loan facility to Ace Empire to finance land purchase

Commitment amount

$ 5412358.47181578

Adjusted commitment amount

$ 5412358.47

Constant 2021 USD

Summary

Funding agency [Type]

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

Recipient

Malaysia

Sector

Business and other services (Code: 250)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Commercial (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

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2014-05-29

Description

On May 29, 2014, Bank of China (Malyasia) Berhad (BOC) entered into a facility agreement with Ace Empire Resources Sdn Bhd (Ace Empire) to provide a facility of RM16,000,000 to finance the purchase of four plots of land in Johor, Malaysia. The entire loan amount was drawn down by Ace Empire on July 15, 2014. Kingsland Malaysia issued a corporate guarantee worth RM16,000,000 MYR for the loan.

Number of official sources

1

Number of total sources

1

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Ace Empire Development Sdn Bhd [Private Sector]

Guarantee provider [Type]

Kingsland Malaysia [Private Sector]

Loan Details

Bilateral loan