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 of COSCO Corporation (Singapore) Limited wishes to announce that its subsidiary, Shanghai CYCLECT Electrical Engineering Co., Ltd, a company incorporated in the People's Republic of China, was voluntarily dissolved on 20 Apr 2005.
The dissolution does not have any material impact on the net tangible assets or earnings per share of the group for the current financial year.