In the wake of recent Chinese government pressure on major companies – both state-owned and private – investing in overseas purchases, Sunseeker International has told IBI that the group is unaffected by these actions.
The Dalian Wanda Group, which owns well over 90% of the UK boatbuilder, is one of the companies that has been targeted by the Chinese government’s moves.
Much of the curbs on overseas financial investments relate to property or real estate projects or purchases. Dalian Wanda is a major property business in China and overseas, but Sunseeker operates as part of the cultural division of Dalian Wanda.
In a statement, Sunseeker told IBI: “Sunseeker International is not dependent on any funding from Chinese-controlled financial houses, so there is no risk of these restrictions interfering with the day-to-day running of the business. Sunseeker International remains profitable and well-funded. The company’s working capital facility provided by HSBC London remains adequate for the foreseeable future, ensuring we will continue to invest in future growth.”