Hong Kong and Shanghai Hotels: project of Japan Peninsula Hotel needs no funds r

Michael D Kadoorie, chairman of Hong Kong and Shanghai Hotels (0045) said the company had been in talks with Mitsubishi on setting up Japan Peninsula Hotel together. He said it was not necessary to raise funds from the market for the project. Fund mostly was from syndicate loan with less than 35% debts rate. He said it was a long-term JV project of five to six years.

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