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Cosco Corp says trading suspension will continue
CHINESE shipbuilder Cosco Corporation said in a Singapore Exchange filing on Thursday evening that a trading suspension in its stock will continue due to uncertainty over the impact of its parent company's restructuring plans.
The restructuring plans of China Cosco Shipping Corporation's shipyard businesses "are advancing", Cosco Corp said, adding that its parent has said it would "finalise the restructuring plans as soon as possible".
Cosco Corp said it would "continually make enquiries with its parent company on the status of the proposed restructuring and will continually evaluate the situation".
It had requested a suspension on Dec 20, 2016.