Sainty Marine posts $292m loss in 2014

Shenzhen-listed shipbuilder Sainty Marine sank to losses of CNY1.8 billion (USD292 million) in 2014 on huge asset impairment that resulted from its loans extended to shipbuilder Nantong Mingde Heavy Industry.
For 2014, the company took a provision of CNY1 billion for non-performing loans it had