Sainty Marine with fragile cash flow plans to overcome crisis by advancing into finance business.
The Chinese company announced recently that it would give a consignment loan totalling CNY 203m ($32.3m) to real estate company with an annual interst rate of 18%.
Sainty Marine lends CNY 28m, CNY 85m and CNY 90m for three different real estate companies for 12-18 months.
Meanwhile, Sainty had already issued CNY 750m of corporate bonds and local sources analyzed that it allocated part of funds to the consignment loan.
Published : October 8, 2012
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