Greater China

Shanghai Bestway replenishes capital in subsidiary

Shanghai: Shanghai Bestway Marine Engineering Design Co announced that it has signed an agreement to replenish RMB24.2m into its wholly controlled subsidiary Shanghai Bestway Marine Machinery Import & Export Co.

The company signed a $56m EPC contract with Centaur Marine for a self-elevating liftboat in July this year and said replenishment will increase the overall credit level of the subsidiary which will help secure financing for the contract and promote the expansion of its ship export business. [08/10/14]

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