May 27, 2014 06:27 PM

How State-Backed Shipping Firm Ran into Ice Berg of Debt

(Beijing) — Debt ridden crude carrier Nanjing Tanker Corp. is poised to become the first central government-backed enterprise to be forced off a domestic stock exchange. But that is that just the beginning of its problems. The company has been found failing to disclose information about a massive amount of debts that for long stayed off its balance sheets.

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