Yangzijiang Shipbuilding (Holdings)

Thread Rating:
  • 1 Vote(s) - 5 Average
  • 1
  • 2
  • 3
  • 4
  • 5
(21-03-2014, 03:04 PM)freedom Wrote: Yangzijiang has been borrowing USD(or offshore RMB) and buying onshore RMB financial instruments in recent years. Recent RMB devaluation could have potential large financial effect on it.

Wonder what exactly its derivative positions are.

http://online.wsj.com/news/articles/SB10...1440182912

In fact the USD borrowing is one mean to manage currency exposure, rather than to increase the risk. The functional currency is RMB, but transaction currencies includes USD and EUR. There are minor exposure of SGD also.

Refer to AR2012, USD exposure (before USD debt) was 4500 mil in RMB, but mitigated by close to RMB 4300 mil of borrowings in USD, and RMB 500 mil equivalent of payable in USD. The net exposure was 3129 mil RMB, after currency forwards and forecasted transactions in USD. Interest rate swaps are other mean to manage the exposure, according to the AR

So I am not so worry on the USD exposure, definitely not on the USD borrowings.

(vested)
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply


Messages In This Thread
Yangzijiang Shipbuilding (Holdings) - by Nick - 13-01-2011, 06:07 PM
Debt levels? - by BlueKelah - 21-05-2013, 10:38 PM
RE: Yangzijiang Shipbuilding (Holdings) - by yogi - 19-03-2014, 08:46 PM
RE: Yangzijiang Shipbuilding (Holdings) - by CityFarmer - 21-03-2014, 03:52 PM
RE: Yangzijiang Shipbuilding (Holdings) - by yogi - 12-04-2014, 06:43 PM
RE: Yangzijiang Shipbuilding (Holdings) - by yogi - 13-04-2014, 12:50 PM
RE: Yangzijiang Shipbuilding (Holdings) - by yogi - 12-04-2014, 06:48 PM
RE: Yangzijiang Shipbuilding (Holdings) - by yogi - 12-04-2014, 06:54 PM
RE: Yangzijiang Shipbuilding (Holdings) - by yogi - 13-04-2014, 12:17 PM
RE: Yangzijiang Shipbuilding (Holdings) - by yogi - 13-04-2014, 12:26 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 29-05-2014, 11:58 AM
RE: Yangzijiang Shipbuilding (Holdings) - by DP28 - 30-05-2014, 03:34 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 30-05-2014, 03:38 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 30-05-2014, 03:57 PM
RE: Yangzijiang Shipbuilding (Holdings) - by DP28 - 30-05-2014, 04:14 PM
RE: Yangzijiang Shipbuilding (Holdings) - by DP28 - 30-05-2014, 04:29 PM
RE: Yangzijiang Shipbuilding (Holdings) - by NTL - 30-05-2014, 04:32 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 30-05-2014, 04:45 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 30-05-2014, 04:49 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 30-05-2014, 04:52 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 30-05-2014, 04:58 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 30-05-2014, 05:12 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 30-05-2014, 11:44 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 31-05-2014, 12:09 AM
RE: Yangzijiang Shipbuilding (Holdings) - by Nick - 31-05-2014, 02:39 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 31-05-2014, 08:52 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 31-05-2014, 10:53 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 01-06-2014, 12:12 AM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 01-06-2014, 11:46 AM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 01-06-2014, 11:13 PM
RE: Yangzijiang Shipbuilding (Holdings) - by kbl - 01-06-2014, 01:34 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 01-06-2014, 01:43 PM
RE: Yangzijiang Shipbuilding (Holdings) - by kbl - 01-06-2014, 01:56 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 01-06-2014, 02:09 PM
RE: Yangzijiang Shipbuilding (Holdings) - by kbl - 01-06-2014, 02:23 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Nick - 01-06-2014, 02:15 PM
RE: Yangzijiang Shipbuilding (Holdings) - by HoHo - 01-06-2014, 02:16 PM
RE: Yangzijiang Shipbuilding (Holdings) - by DP28 - 01-06-2014, 07:36 PM
RE: Yangzijiang Shipbuilding (Holdings) - by DP28 - 02-06-2014, 08:48 AM
RE: Yangzijiang Shipbuilding (Holdings) - by sykn - 02-06-2014, 08:18 AM
RE: Yangzijiang Shipbuilding (Holdings) - by DP28 - 02-06-2014, 08:38 AM
RE: Yangzijiang Shipbuilding (Holdings) - by sykn - 02-06-2014, 08:48 AM
RE: Yangzijiang Shipbuilding (Holdings) - by CY09 - 11-06-2014, 10:50 AM
RE: Yangzijiang Shipbuilding (Holdings) - by kyle - 04-09-2014, 07:23 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Boon - 19-12-2015, 12:03 PM
RE: Yangzijiang Shipbuilding (Holdings) - by CY09 - 11-08-2016, 11:15 AM
RE: Yangzijiang Shipbuilding (Holdings) - by opmi - 23-08-2016, 11:28 PM
RE: Yangzijiang Shipbuilding (Holdings) - by opmi - 23-08-2016, 11:49 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 24-08-2016, 10:06 AM
RE: Yangzijiang Shipbuilding (Holdings) - by chew - 24-08-2016, 03:06 PM
RE: Yangzijiang Shipbuilding (Holdings) - by CY09 - 11-09-2016, 10:09 AM
RE: Yangzijiang Shipbuilding (Holdings) - by YMPL - 24-03-2017, 08:41 PM
RE: Yangzijiang Shipbuilding (Holdings) - by YMPL - 03-04-2017, 10:11 AM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 31-08-2017, 08:51 PM
RE: Yangzijiang Shipbuilding (Holdings) - by YMPL - 05-09-2017, 11:01 AM
RE: Yangzijiang Shipbuilding (Holdings) - by CY09 - 08-08-2019, 10:07 PM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 20-04-2021, 08:04 AM
RE: Yangzijiang Shipbuilding (Holdings) - by Bibi - 03-05-2021, 05:47 PM
[split] Shipping news - by Greenrookie - 24-09-2013, 11:14 AM
RE: Yangzijiang Financial Holding - by weijian - 23-08-2024, 10:13 AM

Forum Jump:


Users browsing this thread: 3 Guest(s)