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Nanjing Tanker predicts wider loss in 2013
Loss making Nanjing Tanker Corporation (NJTC) has forecast a wider deficit for its financial year 2013 as it faces a delisting from the Shanghai Stock Exchange.
1 Min Read
Kalyakan - stock.adobe.com
NJTC, subsidiary of China's state-owned Sinotrans & CSC Group, has estimated a loss of RMB1.27bn ($209.45m) for the year compared to a loss of RMB1.24bn in 2012.
The oil tanker owner has already suffered four years of consecutive losses and will delist from the stock exchange after it releases its 2013 annual report.
Trading of the company's shares has been suspended since May 2013.
Last month, NJTC announced that it is seeking RMB9.2bn of loans from banks.
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