JES International denies it is running out of cash

Chinese shipbuilder JES International says its cashflow is sufficient to meet short term lending repayments.
The Singapore-listed company was queried by the Singapore Exchange (SGX) over negative cashflows from operating activities in its third quarter results and short term borrowings of RMB985.2m. “The negative cash flows from operating activities arose mainly as a result of the company’s expansion of shipbuilding activities that require higher working capital,” the shipbuilder said.
JES said its short term borrowings had a variety of maturity dates and: “Given past records and the credit limit granted by the banks, the company is usually able to secure at least the same amount of borrowing after the repayment is made." The shipbuilder said it did foresee any short-term cashflow issues or meeting its borrowing repayments.