Kerry Myanmar (IFC-39743)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Specific Location
Yangon
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 11, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
KM TERMINAL AND LOGISTICS LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 45.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 18, 2019

Disclosed by Bank Mar 26, 2018


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Project Description

Kerry Logistics Network ("KLN") is one of Asia's largest third-party logistics ("3PL") companies, based in Hong Kong and listed on the HKEX (stock code 636). KLN Singapore via its subsidiary KM Terminal and Logistics Limited Myanmar ("KMTL" or the "Company"), is developing two greenfield dry ports in Myanmar (in Yangon and Mandalay) under a 50-year concession awarded by Myanma Railways following a competitive bidding process. IFC is considering providing USD 15 million to KMTL to support its dry port development program. IFC funds will be used for part financing the Yangon Dry Port

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • KLN (Singapore) Pte. Ltd. -- Parent Company
Contact Information

Kerry Logistics Network Limited
Mr. Eddie Mak, Group Treasurer
+852 2410 3600
eddie.mak@kerrylogistics.com
Kerry Logistics Network Limited - 16/F, Kerry Cargo Centre, 55 Wing Kei Road, Kwai Chung, Hong Kong
www.kerrylogistics.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/