Orient Overseas says 1% interest-cut may save US$7 mln

After the board meeting, financial controller of Orient Overseas (0316) said that the two container ships ordered by the company at earlier time were valued at US$160 mln (HK$1.248 bln), 80% of which would be paid by loans. As the expenditure for the freighters will be paid in 2004, the borrowing and lending ratio wonˇ¦t be affected at moment and the ratio is expected to be 60% of that of last year.

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