Choongwae Holdings to lower debt level

Choongwae Holdings said on October 25 it would aim to lower its debt level significantly this year compared to last year.

Heavy debt has been cited by analysts as the biggest burden to distract Choongwae's plan of boosting its core business.

Company officials said it will lower the total debt level below 20 percent by the end of this year from 70 percent, last year.

“In order to achiev...