Greater China

Nanjing Tanker completes restructuring

Shanghai: Nanjing Tanker, the delisted arm of Sinotrans & CSC, has completed its restructuring process and cleared off all of its debts.

According to Shi Xiancheng, an official involved in Nanjing Tanker’s restructuring work, Nanjing Tanker has cleared off RMB21bn debt in total through cash and shares, as agreed by creditors.

Nanjing Tanker has set the goal of a return to profit in 2015 and a return to the stock exchange by 2017. [20/01/15]

 

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