China Printing & Dyeing Holdings (M67.SIN) asked the Singapore Stock Exchange Wednesday to halt trading of its shares for 1,400 hours after its parent Zhejiang-based Jianglong Holdings, China’s largest printing and dyeing company, was reported to have gone broke, the Shanghai Securities News reported. Jianglong Holdings listed China Printing in Singapore in September 2006. Its shares closed at S$0.15 Tuesday, or around half the value of the company's shares on debut. Jianglong owes more than 300 small suppliers a total of US$29.34 million (RMB200 million). An inside source revealed the company also owes US$234.70 million (RMB1.6 billion) to private creditors, but this has not been confirmed.

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
@2017 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate