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Annual Report 2013
E. INTERESTED PERSON TRANSACTIONS (“IPTS”) POLICY
The Company has adopted an internal policy in respect of any transactions with interested persons and has set out the
procedures for review and approval of the Company’s interested person transactions with the China Ocean Shipping (Group)
Company and its associates, which are covered by a Shareholders’ Mandate approved at each general meeting.
The AC reviews the Shareholders’ Mandate at regular intervals, and is satisfied that the review procedures for IPTs and the
reviews to be made periodically by the AC in relation thereto are adequate to ensure that the IPTs will be transacted on normal
terms and will not be prejudicial to the interests of the Company and its minority shareholders.
Name of interested person
Aggregate value of all interested
person transactions during the
financial period under review
(excluding transactions less than
$100,000 and transactions
conducted under shareholders’
mandate pursuant to Rule 920)
Aggregate value of all interested
person transactions conducted
under shareholders’ mandate
pursuant to Rule 920 (excluding
transactions less than $100,000)
S$’000 S$’000
Between Subsidiaries and:
Chimbusco Dalian Branch – 17,772
Chimbusco Guangzhou Branch – 2,446
Chimbusco Shanghai Branch – 1,091
Chimbusco Zhoushan Branch – 5,236
COSCO (Cayman) Mercury Co., Ltd – 1,388
COSCO (HK) Insurance Brokers Ltd – 248
COSCO (HK) Investment & Development Co., Ltd – 170
COSCO (HK) Shipping Co., Ltd – 9,010
COSCO (JM) Aluminium Co., Ltd – 164
COSCO Bulk Carrier Co., Ltd – 11,514
COSCO Bulk Tianjin Forwarding Co., Ltd – 242
COSCO Container Lines Co., Ltd – 7,593
COSCO Finance Co., Ltd – 1,111,073
COSCO Far-Reaching Shipping Co., Ltd – 753
COSCO Jiangsu International Freight Co., Ltd – 4,663
COSCO Logistics (Nantong) – 2,908
COSCO Logistics Dalian Co., Ltd – 793
COSCO Petroleum Pte Ltd – 7,640
COSCO Shipping Co., Ltd – 23,237
COSCO Southern Asphalt Shipping Co., Ltd – 156
COSCO Wallem Ship Management Co., Ltd – 1,077
Dalian Ocean Shipping Company – 1,587
Guangdong Ocean Shipping Company – 137
Myanmar Cosco Limited – 133
Nantong Chimbusco Marine Bunker – 5,832
Nantong COSCO Heavy Industry Co., Ltd – 323
Nantong COSCO Ship Equipment Company – 1,831
Qingdao Manning Co-operation Ltd – 3,219
Qingdao Ocean Shipping Company – 1,700
Shanghai Ocean Crew Co., Ltd – 4,788
Shanghai Ocean Shipping Company – 380
Shenzhen Ocean Shipping Company – 1,623
Xiamen Mintai Ferry Co., Ltd – 326
Xiamen Ocean Shipping Company – 1,288
Total – 1,232,341
Corporate Gover nance and Transparency