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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly