COSCO SHIPPING International (Singapore) Co., Ltd. (“COSCO SHIPPING” or the “Company” and together with its subsidiaries, the “Group”) aims to become the best-integrated logistics service provider in South and Southeast Asia. The Company is also involved in dry bulk shipping, ship repair and marine engineering, as well as property management.
The Board of Directors is pleased to announce that the Company's acquisition of 51% interest in the registered capital of Cosco Shipyard (Group) Co., Ltd has been completed with effect from 1 January 2005.
The PRC lawyers legal opinion, being the last condition precedent relating to the said acquisition, was satisfied and issued on 1 January 2005.