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Chen Liancai (2nd R, entrance), Chief Govt Officer of Hengyi Industries, indicators a financing settlement with senior executives from three native monetary establishments in Bandar Seri Begawan, capital of Brunei on Aug. 3, 2022. (Picture by Jeffrey Wong/Xinhua)
BANDAR SERI BEGAWAN, Aug. 3 (Xinhua) — Hengyi Industries Sdn Bhd, a petrochemical three way partnership between Brunei and China, signed an Islamic Syndicated Time period Financing Settlement totaling 263 million U.S. {dollars} with three native monetary establishments on Wednesday.
Hengyi Industries is a three way partnership between China’s Zhejiang Hengyi Group and Damai Holdings, a wholly-owned subsidiary below the Brunei authorities’s Strategic Growth Capital Fund, proudly owning 70 p.c and 30 p.c of the shares, respectively.
The financing settlement with Financial institution Islam Brunei Darussalam (BIBD), Baiduri Financial institution and Perbadanan Tabung Amanah Islam Brunei(TAIB) marks begin of recent collaboration between Hengyi Industries and the native monetary business, Chen Liancai, Chief Govt Officer (CEO) of Hengyi Industries advised Xinhua on the signing ceremony.
Hengyi invested about 3.45 billion U.S. {dollars} within the first part of its oil refinery and petrochemical undertaking in Brunei, which went into full operation in November 2019.
The corporate’s 13.654 billion U.S. {dollars} second part undertaking is at the moment awaiting the inexperienced gentle from the Brunei authorities. ■
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