Yangzijiang acquires 40 percent of Anhui Shiyan Yangchuan Industrial

Singapore one-dollar bill, showing Chinese junk boatsSingapore one-dollar bill, showing Chinese junk boats

Yangzijiang Shipbuilding (Holdings) has subscribed for a 40 percent stake in Anhui Shiyin Yangchuan Industrial for CNY200 million, the Chinese shipbuilder said in a filing to SGX Friday. 

The core businesses of Anhui Shiyin, which is based in Hefei City, Anhui Province, in China, are related to technology services, construction building materials, transportation of goods, engineering construction and construction quality checks, the filing said. 

The investment was funded via internal resources, Yangzijiang said.

The acquisition isn’t expected to have a significant impact on earnings per share and net tangible assets per share for the current financial year, Yangzijiang said.

The acquisition will be via Yangzijiang’s indirect wholly owned subsidiary, Jiangsu New Yangzi Commerce
& Trading (JNCT), the filing said.

While you’re here, we’re hoping you can help us out.

Your monthly contribution will directly fund our journalism.

You can check your existing account here and you can sign in to Shenton Wire here.

You can also contact us to request our rate card for corporate sponsorship, advertising, syndication and sponsored articles.