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Amoi Co Ltd lent $14.49 million (RMB100 million) to its debt-ridden listed unit Amoi Electronics Co (600057.SH) in exchange for a 43.09% stake and China Electronics Corporation (CEC) lent it $57.97 million (RMB400 million) for a 51% controlling stake, Amoi Electronics said in a statement over the weekend, China Business News reported. The RMB100 million loan will be repaid in one year with no interest while the RMB400 million loan will be repaid in one year at market rates. CEC is also entitled to use Amoi’s equipment (worth RMB160 million), the Amoi brand image (worth RMB115 million), Amoi’s 75% stake in Xiamen Amoi Mobile (worth RMB150 million) and a 70% stake in Amoi’s Xiamen Amoi Engineering Plastics Co (worth RMB30 million). Amoi Electronics will also auction properties covering a total of nearly 79 million square meters. All the proposals are pending approval from a board meeting due on June 30.

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