JES yard removed from white list

Shanghai: China’s Ministry of Industry and Information Technology (MIIT) has announced the official first batch “white list” for the shipbuilding industry.

MIIT has removed Jiangsu Eastern Marine Equipment, an affiliate shipyard of Singapore-listed JES Holdings, from the latest white list bringing the list down from 51 to 50 without giving any reason.

JES Holdings was placed onto a black list by the Supreme People’s Court of China in July this year as it failed to fulfill legal payment obligations.

The company reported a net loss of RMB11.93m for the first half of this year.

Currently MIIT is reviewing a further 21 shipyards for the second batch of “white list”. [30/09/14]

 

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