Monday, October 15, 2012

Sainty into lending biz

Sainty into lending biz

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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