Expansion Of Enterprises Is Now Interlude, Shandong Ruyi Does Not Affect The Overall Advancement.

Reported that Shandong Ruyi group in Pakistan, a takeover case failed, because Shandong Ruyi group bank financing problems.

Shandong Ruyi group propaganda department, the company's propaganda minister Liu Kai said that the group is indeed implementing the acquisition of Masood Textile Mills Ltd in Pakistan.

But the takeover paction has not been "blown off" as reported in the report, nor is it due to the reasons for bank financing. The media report is actually misleading.

Liu Kai said: "as the project is being pushed forward, the terms of business need to be adjusted according to due diligence, and conflicts with the relevant time schedule of the securities regulatory authorities of Pakistan. The project has to be temporarily suspended. At present, the two sides are negotiating in the new round of work arrangements, not like the" blow up "on the Internet.

In addition, the cooperation between Ruyi and Masood is all-around. There will be further cooperation in the industrial chain docking and new industrial parks. Equity trading is only one of the contents of cooperation. The temporary suspension of the project will not affect the overall promotion of Ruyi group's investment projects in Pakistan.

It is understood that Ruyi group began investing in Pakistan in 2013, including the construction of garment industrial parks, power stations and other projects are highly valued.

At present, all projects have entered the stage of commencement.

As for whether banks tighten loans to Shandong Ruyi group, the relevant person in charge of the Jining branch of the Bank of China said frankly that Ruyi has maintained good cooperative relations with the Bank of China. The Bank of China has not tightened up its loan to the willing, nor has heard other banks' news of the loan tightening.

A person close to Shandong Ruyi group said that Ruyi's investment in Pakistan has introduced well-known financial institutions to achieve the integration of industry and financial capital, and there will be no problems in terms of capital.

With the current financial strength of Ruyi, banks generally can not tighten up their loans.

Many investors agree with this.

Shandong Ruyi group, as one of the largest textile enterprises in China, has been overseas in recent years.

In 2010, Ruyi Group acquired Japanese garment giant RENOWN Co., and subsequently increased its capital to absolute holding.

In 2011, Ruyi technology bought Australia's ranoldu ranch at a price of 17 million 240 thousand US dollars, and owned a raw material base for wool spinning.

In 2013, Ruyi technology acquired $96 million 229 thousand, $312 million and $26 million 150 thousand respectively for the purchase of the Australian rink company, Australia's kabi cotton field, and the New Zealand wool service company, while investing in Carlowaymill company in Scotland, extending its tentacles to the UK.

At the end of 2013, the layout of Pakistan was fully started by Ruyi group.

Market analysts pointed out that Ruyi group should have taken into account the comprehensive cost advantage of Pakistan and the strategic thrust of the China Brazil economic corridor.

With the continuous rise of domestic costs, the low cost advantages of Southeast Asia and other countries are gradually emerging.

Pakistan will be harvested at this time, or it will gain fruit in the near future.