Guangdong Zhenrong demands debt repayment from Quanzhou Shipyard

Guangzhou: Titan Petrochemical announced yesterday that Titan Quanzhou Shipyard has received a letter from Guangdong Zhenrong (GZE), whereby GZE demanded payment of interest of RMB44.56m in total accrued on the indebtedness for the second and third quarters of this year by the shipyard within three business days upon receipt of the letter.

GZE warned it reserved its rights to take further legal action if the shipyard fails to make the payment. [22/11/13]

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