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China's CRRC to inject S$23.65m into Vallianz

State-owned enterprise will pick up 13.9% of vessel operator through an equity injection as it seeks to branch out into the offshore and marine sector

Published Mon, Jan 25, 2016 · 09:50 PM

Singapore

CHINA'S state-owned rail corporation CRRC is set to pick up a 13.9 per cent interest in Vallianz Holdings through S$23.65 million of equity injection as the Chinese state-owned enterprise (SOE) seeks to branch out into the offshore and marine sector.

CRRC is listed on the Hong Kong and Shanghai stock exchanges and boasts a market capitalisation of over HK$321.5 billion (S$59 billion) as at Jan 22.

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