China's Sinochem seeking to sell logistics unit for 3.5b yuan
Hong Kong
SINOCHEM International Corp said it has put up its logistics unit for sale by public auction, aiming to raise about 3.5 billion yuan (S$713 million) - part of the Sinochem conglomerate's efforts to respond to Beijing's push for a slimmer state sector.
Bidders for Sinochem International Logistics - also China's largest liquid chemicals vessel owner with nearly 80 tankers - include a consortium comprising Ordos City Junzheng Energy & Chemical Co Ltd and two other firms, the logistics firm's parent …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
AstraZeneca leaps after smashing Q1 forecasts
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
Sanofi Q1 profit slips on generic competition, forex effects
Toyota hits record annual output, sales on robust demand
Latest Singapore 6-month T-bill offering cut-off yield of 3.74% as applications dip