growth and create value for customers and investors,” states the company on Nov 29.
The spin-off might be completed over the next six to 12 months although there’s no absolute certainty this restructuring will go ahead and be completed.
The spin-off business will include microfinancing, debt investments at amortised cost and other investments. It will also target more “more growth-oriented investments”, expand its market reach, industries segments, and also grow its fee-income business.
The shipbuilding business, meanwhile, sits on an order book of US$8.65 billion as at Nov 1, for 165 vessels. This is a record level.
See also: SGX RegCo suggests ways to quicken restructuring process for financially distressed companies
Yangzijiang closed Nov 29 unchanged at $1.30, but up 34% year to date.
