Navy contract with Ching Fu likely to be terminated

Financially troubled Ching Fu Shipbuilding Co. is facing termination of a multibillion-dollar contract with Taiwan's Navy if the company fails to pay a surety of NT$7.9 billion (US$270.18 million) by Dec. 8 as demanded by the Ministry of National Defense, two of the company's lenders said Monday.

(Full text of the story is now in CNA English news archive. To view the full story, you will need to be a subscribed member of the CNA archive. To subscribe, please read here.)