Master Kong to fight back

Source:Global Times Published: 2012-12-5 0:05:05

Tingyi (Cayman Islands) Holdings Corp, also known as Master Kong, refuted market rumors that it had supported the Japanese government's illegal purchase of the Diaoyu Islands in the East China Sea, the Beijing Times reported Tuesday.

The company claimed that it was maligned by a competitor. "(Such a rumor) is another malicious act manipulated by our rival," Tingyi was quoted as saying by the Beijing Times, without identifying the rival, but noting that the company has collected evidence and will take legal action against the slanderer.

Internet rumors recently said that China's largest maker of drinks and instant noodles had donated 300 million yen ($3.66 million) to the Japanese government's purchase.

Chinese Ting Hsin International Group holds a 33.27 percent stake in the food producer, while Japanese Sanyo Foods Co owns 33.18 percent.

Global Times

Posted in: Companies

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