Corporate digest

Cosco Corporation (Singapore)

SHARES in Chinese shipbuilder Cosco Corporation (Singapore) surged further on Tuesday, drawing a query from the Singapore Exchange on its unusual share price movements.

The stock closed at S$0.435, up 3.5 Singapore cents or 8.8 per cent, on 31.4 million shares traded. On Monday, it rose six cents. The stock fell 18.7 per cent to S$0.305 on Dec 14 when it resumed trading after a four-month suspension pending its parent company's restructuring announcement. Cosco said on Dec 11 that the restructuring would not involve its business segments for now.