The administrators of bankrupt Chinese shipbuilding group JES has listed the company’s assets in one package for sale via online auction on October 15.
The listed assets include JES’s real estate property, shipyard equipment and facilities as well as inventories. The starting price of the auction is RMB2.01bn ($281m).
The shipyard’s Singapore-listed unit JES International Holdings filed an application with the High Court of Singapore in February to place the company under judicial management, after JES was declared bankrupt by a Chinese court in Zhejiang in October last year.
Once a major private shipyard in China, JES ceased operations in August 2015 due to a major financial crisis and chaos within the Jin family, which controls JES.