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Rongsheng Heavy shipbuilding assets sold to Unique Orient

Huarong Energy has concluded the disposal of its shipbuilding business to a bond holder for a token HK$1. The deal comes on the heels of debt-to-equity swap reached between Huarong and its bank creditor to settle Yuan3.1bn in debts

Huarong says the arrangements will allow it to alleviate its financial burden and focus on its oil production business

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