Corporate digest

Yangzijiang Shipbuilding

A WHOLLY-OWNED subsidiary of Yangzijiang has agreed to provide a revolving credit facility of up to 1.56 billion yuan (S$301.7 million) to Jiangyin Xinyangchuan Enterprise Management Center, the mainboard-listed company said in a bourse filing late on Thursday.

Yangzijiang executive chairman Ren Yuanlin and his son, chief executive Ren Letian, have a 41 per cent stake in Xinyangchuan, which is a limited partnership established in China that invests in energy, manufacturing and property development companies.