Shanghai: Ningbo Maritime Court announced that it will auction some assets of financially troubled Dongfang Shipbuilding on the online Taobao platform on July 2.
The assets to be auctioned include land properties and shipbuilding equipment with total value of RMB160m. The starting price of the auction is RMB128.5m.
Dongfang Shipbuilding has been suffering from financial difficulties since 2008, it has been sued by several creditors due to inability to repay loans. [19/06/14]