YangZiJiang: Co. announced that it is investing Rmb94.5m or $17.9m for a 31.5% stake in Chinese micro-lender Wuxi Runyuan Techn Microfinance, and will get 4 board seats out of 6 to get effective control. Last yr, YZJ took a 51% stake in Jiangsu Runyuan Rural Microfinance for Rmb153m. Separately, YZJ is forming a new unit, Jiangsu Xinfu Gas Co, to secure a long-term stable supply of gas to meet the production needs of its shipbldg business. Investment is expected to enhance the return of the grp's assets and shareholders value.
Separately, Co. announced that Seaspan has made effective its contract to build 2 remaining vessels in an earlier contract announced earlier this yr, worth US$0.7b to build 7 units of 10,000 TEU ships.
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