Cheung Kong to seek financing for joint development project in Singapore

HONG KONG (AFX-ASIA) - Cheung Kong (Holdings) Ltd executive director Edmund Ip said the company needs to arrange financing for its joint property development project in Singapore.	    A consortium comprising units of Keppel Land Ltd, Cheung Kong Holdings and Hongkong Land Ltd won the bid for a mixed-used commercial, hotel and residential downtown site on Marina Boulevard.	    The consortium bid 461.816 mln sgd for the site.	    Ip said the consortium partners are currently working out details of the financing for the project and declined to say how much funds they plan to raise.	    Ip, who is also the executive director for Cheung Kong Infrastructure Holdings Ltd, said although CKI's proposed loan financing for Australian railway projects failed to obtain the approval of the South Australia state parliament, the company will continue to look for other opportunities, with a primary focus on infrastructure projects.	    Cheung Kong Infrastructure had proposed to lend 26.5 mln aud to an Australia n consortium for railway construction. 

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