Greater China

Tianjin Marine applies for RMB250m loan

Dalian: Tianjin Marine announced that the company is going to apply a 14 month loan of RMB250m from Avic Trust with annual rate of 9.5%. HNA Logistics will provide guarantees for the loan. The company said the loan will help the company improve its current financial situation.

Tianjin Marine estimated that the company’s profit in 2013 is likely to decrease by close to 99% from RMB322m in 2012.  [05/03/14]

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