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    42 — Northeast Electric Development News Story

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    Brief: Northeast Electric Announces Factoring Agreement With Huiyin Commercial Factoring Co

    Picture of Northeast Electric Development logoNortheast Electric Development
    09/03/2018 12:27
    March 9 (Reuters) - Northeast Electric Development Co Ltd
 000585.SZ :
    * UNIT ‍PROPOSED TO EXECUTE DOMESTIC COMMERCIAL FACTORING
AGREEMENT (WITHOUT RECOURSE) WITH HUIYIN COMMERCIAL FACTORING CO
    * NET BOOK VALUE OF RECEIVABLE ACCOUNTS TO BE TRANSFERRED
AMOUNTING TO RMB 50.4 MILLION
    * ‍PROCEEDS RAISED FROM FACTORING FINANCING WAS RMB48
MILLION​

Source text for Eikon:  ID:nHKS6q18yW 
Further company coverage:  000585.SZ 

 ((Reuters.Briefs@thomsonreuters.com;))

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