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
transaction 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:
Bright Sea Management Limited
-
1,045
Chimbusco Guangzhou Branch
-
3,073
Chimbusco Zhoushan Branch
-
8,261
China Marine Bunker (Dalian) Co., Ltd
-
9,769
China Ocean Shipping (Group) Company
-
774
Cosco (Cayman) Mercury Co., Ltd
-
1,004
Cosco (HK) Insurance Brokers Ltd
-
155
Cosco (HK) Investment & Development Co., Ltd
-
1,455
Cosco (HK) Shipping Co., Ltd
-
14,667
Cosco (JM) Aluminium Co., Ltd
-
416
COSCO (Weihai) Shipbuilding Marine Technology Co., Ltd
-
720
Cosco Air Service Shanghai Ltd
-
286
Cosco Bulk Carrier Co., Ltd
-
2,610
Cosco Bulk Carrier Holdings (Cayman) Limited
-
568
Cosco Bulk Tianjin Forwarding Company Limited
-
163
Cosco Container Lines Co., Ltd
-
5,899
Cosco Far-Reaching Shipping Co., Ltd
-
1,156
Cosco Finance Co., Ltd
-
4,276,378
Cosco Guangzhou Marine Electronics Engineering Co.
-
124
Cosco Information Tech Co., Ltd
-
164
COSCO Kansai Paint & Chemicals Co., Ltd
-
121
Cosco Logistics Nantong Co., Ltd
-
2,405
Cosco Logistics Dalian Co., Ltd
-
13,051
Cosco Petroleum Pte Ltd
-
3,623
Cosco Shipping Co., Ltd
-
2,942
Corporate Governance and Transparency
49
COSCO Corporation (Singapore) Limited
Annual Report 2015
