cheap air maxcheap air max 95 cheap air max 95cheap nike air max
Welcome to Brilliant Global Logistics Group
 
cheap air maxcheap air max 95 cheap air max 95cheap nike air max
User ID
Password

 

 

Yang Ming seeks fresh capital injection
Source
American Shipper
Post Date
05/18/2020

Yang Ming’s board of directors has approved on 6 May 2020 a private placement for 300 M preferred shares in the company to raise additional capital for the Taiwanese carrier.

Yang Ming’s net loss reached NTD 4.31 Bn ($144 M) in 2019 and NTD 6.59 Bn ($220 M) in 2018, with its shareholders’ equity ping by 36% in the last two years to just NTD 17.1 Bn ($571 M) at the of 2019.

Taiwan Ratings Corp. had earlier downgraded Yang Ming’s debt ratings from ‘s’ to ‘negative’ on 14 April due to the weak global trade conditions that “could materially weaken the company’s operating performance this year and beyond.”

The pricing for the preferred shares has not been determined. According to company filings, the preferred shares will only be listed three years after they are issued.

The Taiwanese government owns about 48% of Yang Ming’s shares and is expected to fund the new share offering.

Yang Ming’s move to seek fresh government financial support follows HMM who received KRW 720 Bn ($591 M) in April from South Korean government owned entities who had raised their shareholding in the Korean carrier to 74%.

Both Yang Ming and HMM are set to raise their capacity operated in the next two years, with Yang Ming set to receive 14 new ships of 12,000 teu and ten ships of 2,800 teu in 2020-2022 while HMM will receive twelve new ships of 23,000 teu (two of which have been delivered in the past weeks) and eight units of 15,000 teu.
CORPORATE


Title
Source
Post Date
Visit
Input Sought on “Made in USA” Labeling Rule.. American Shipper 07/06/2020
10
Export Restrictions Imposed on Hong Kong as Chinese S.. American Shipper 07/06/2020
11
AD/CV News: Fertilizers, Lawn Groomers, Mechanical Tu.. American Shipper 07/06/2020
10
Transpacific capacity is nearing preCOVID-19 levels .. American Shipper 07/06/2020
10
SBA to release data on who got federal PPP loans .. American Shipper 07/02/2020
61
Newark is a hub for logistics – and logistics startup.. American Shipper 07/02/2020
57
Is Amazon on the hunt? Analyzing rumored Macy’s, J.C... American Shipper 07/02/2020
55
AD/CV: Aluminum Foil, Garment Hangers, OCTG, Pipe/Tub.. American Shipper 07/02/2020
56
More China List 2, All Current China List 4A Tariff E.. American Shipper 06/25/2020
139
Its Time to Double Down on Starbucks Stock.. American Shipper 06/24/2020
102
Page : 1   2   3   4   5        [Next 5 Page]  Last Page : 152 ( 1 of 152  Total Pages )

 

 

 

cheap air max 97cheap air max 90 cheap nike air maxcheap air max
Brilliant Group Logistics INC.
159 N. Central Ave. Valley stream, NY 11580
Tel : (516) 599-2406 Fax : (516) 599-0528