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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.
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Voluntary Liquidation Of Associated Companies
BackNov 30, 2006
The Directors of Cosco Corporation (Singapore) Limited (the "Company") wish to announce that the Company's associated company, COSEM Pte Ltd ("COSEM"), is in the process of undergoing a members' voluntary liquidation. As part of the liquidation of COSEM, shares held by COSEM in Cosco Container Depot Pte Ltd ("CCD") were distributed in specie to COSEM's shareholders. Accordingly, 400,000 ordinary shares in the capital of CCD amounting to 40% of the issued and paid up share capital of CCD were distributed to the Company on 15 November 2006.The Directors of the Company also wish to announce that a shareholders' meeting of CCD, 40% of the issued shares of which are now directly held by the Company, has been called for the purposes of considering a proposal for the voluntary liquidation of CCD. Further updates of this liquidation will be announced where appropriate.
For and on behalf of the Board
Li Jian Xiong
Alternate Director
30 November 2006
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