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Signing of the times

Joseph Lo

Airport Authority finance director Raymond Lai and chief executive David Pang yesterday conclude a $6 billion syndicated loan facility with 22 financial institutions to help finance its capital restructuring before privatisation. The government was the original backer of Chek Lap Kok's development, investing about $37 billion in the airport. After a signing ceremony, Mr Pang said he was optimistic that the airport's second-half performance would compare favourably with last year.

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