Cosco (S) up again after response to SGX query
Chinese shipbuilder says its main subsidiary, Cosco Shipyard Group, is exploring options to support business operations
Singapore
CHINESE shipbuilder Cosco Corporation (Singapore) rallied after the company said its main subsidiary, one of the largest shipyard groups in China, is exploring ways to support its business operations amid a slump.
The counter rose seven cents to S$0.505, up 16 per cent.
"The company understands that the management of its 51 per cent-owned subsidiary, Cosco Shipyard Group Co Ltd, is currently exploring various options to support its business operations, including expansion of its sources of funding and optimising its asset structure," Cosco said…
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