Log in
HOMEPAGE
TESTIMONIALS
BENEFITS
MANAGEMENT
DIRECTORY
APPLY NOW
Membership Details
OPCA 8TH AGM 2024
Registration
Sponsorship
Accommodation
AGM Agenda
Kuala Lumpur
Flight and Visa
Event Activities
Attendee List
Summit Attendee List
Latest News
Chairman Message
Codes and Ethics
Blacklist Agents
CONTACT US
Back to list
China Shipping Container Line borrows US$430 million to build liquidity
26 Jul 2014 8:55 AM
|
Anonymous
Original news was published on 24 July, 2014
STATE-OWNED China Shipping Container Lines (CSCL) has announced several loans totalling of US$430 million to improve working capital.
Some $200 million will come from its parent conglomerate, China Shipping Group (CSG) and $100 million from CSCL HK, its wholly-owned Hong Kong subsidiary, according to an exchange filing.
"The loan will be mainly used for replenishment of CSCL HK's liquidity and increase its cash flow, which in turn will serve to enhance its ability to continue as a going concern," said the filing.
Separately, CSCL said it plans to borrow $130 million from the Australia and New Zealand Banking Group (ANZ) the third largest bank in Australia.
*NEWS SOURCE
Add comment
Copyright © 2014 - 2023 Overseas Project Cargo Association. All rights reserved.