Banks worry about block of financing for digital port

Banks expected the loan ability of PCCW would be adversely influenced by its loss-making results and even the financing of digital port would be negatively affected.  Yuen Tin Fan Francis, Deputy Chairman of PCCW, said at a press conference yesterday that the company had laid out HK$15.8 bln to the project of digital port while injection of this year would be HK$2.34 bln. Capital of first half of the year could be drawn from internal funds manipulation including selling partial investment project while fund collection would be carried out in Q3.

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