Docklands conference centre ExCel needs to find new funding before it defaults on its bond payments. Ratings agency Fitch said the group’s profits would fall short of the levels predicted when it sold £175m of bonds last year.
Malaysian property mogul Tan Sri Lee Kim Yew owns 45% of the centre, media firms Reed and United Business Media 13% each and the rest is owned by Sir Robert McAlpine and English Partnerships.
Sunday Business 28/10/01 Page 2
