Sainty Marine provides guarantees to subsidiaries

Shanghai: Nanjing-based Sainty Marine has announced that the company is planning to provide RMB385m and RMB125m guarantees to its subsidiaries, Jiangsu Sainty Marine Development and Sainty Shipbuilding (Yangzhou).

The guarantees are expected to help Sainty Marine Development to develop trading and financing business, and help Sainty Shipbuilding (Yangzhou) to develop a financial leasing business.

The company also announced plan to enter into the waterway transport sector to further expand its business scope. [11/12/14]

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