Chamber hails China bank’s offer
10/29 12:14每日快讯
By: Sohan Das
Labuan CCB’s First Vice President Alvin Han (second left), Vice President Francis Lo Vun Khin (right), Operation Officers Stephanie Yeoh Ying Shin (left) and Grace Fu Ling Ling (second right) at their newly-opened office at the Labuan Financial Park Complex.
LABUAN: China Construction Bank (CCB)’s willingness to fund the much talked-about Labuan-Menumbok bridge is like a silver lining in the clouds for Labuan as it brings the long-awaited project a step closer to reality.
Labuan Chinese Chamber of Commerce Chairman Datuk Wong Kii Yii said this when commenting on remarks by CCB First Vice President Alvin Han Jiunn Kwang, during the opening of the bank’s branch here that it was ready to finance the project.
Han had said CCB has the financial capabilities and expertise in making sure the project is financially funded accordingly.
“CCB, having been established for decades, has the financial stability and we are fully prepared to provide banking facilities to local large-scale infrastructure construction projects on the island, including the Labuan-Menumbok bridge, Labuan Smart City and Labuan Integrated Port,” he said.
Wong said China companies have the technological expertise to deliver mega infrastructure projects ahead of deadline.
“The proposed Labuan-Menumbok bridge project merely spans 16.3km and it is a small matter for China companies as they have been known to handle more complicated infrastructure challenges. We can be hopeful that with China’s involvement, the project will finally see daylight.”
Wong stressed that Labuan badly needs the bridge as the island has no natural resources and tourism could not be depended upon as in this area Labuan is dwarfed by Sabah and Sarawak.
“Adding to the woes is that the oil and gas sector has lost steam due to the shrunken cruel oil prices without much hopes of recovery,” he added.
CCB is the world’s second largest bank with assets of US$3.5 trillion.
The bank is also interested in other Labuan projects such as Smart City and Integrated Port as mentioned in Labuan Development Blueprint 2030.
Wong also noted that when the bridge is completed, it would fit into the Belt and Road Initiative.
The Labuan-Menumbok bridge project was first proposed under the Labuan Development Plan 1997, but has been often hit by roadblocks, plunging it into uncertainly.
Last September, Federal Territories Minister Khalid Abdul Samad gave hope to the project when he announced that it would be awarded end of next year under a private financing initiative due to the Government’s financial constraints.
Several companies have indicated interest in the project.
A working committee comprising high-ranking officials has been formed and would be officially calling for a request for proposal (RFP).
查看原文