Shanghai: Jiangsu Sainty Marine has announced that the company is to provide RMB140m in guarantees to three subsidiaries.
The company will separately provide RMB50m, RMB50m and RMB40m to the three subsidiaries, Taike Clothing, Xinxing Industry Trading and Sainty Hong Kong.
The financial supports to Taike Clothing and Xinxing Industry Trading could further improve the profitability of the two companies; and the support to the Hong Kong subsidiary could help the company better expand into international markets, Sainty said in a statement. [11/03/14]
