CWT: Controlling owner mulling review of its business

Singapore

CWT Limited said on Monday that its controlling shareholder C&P Holdings is considering a strategic review of C&P's business and assets.

This "may or may not lead to a transaction involving the company (CWT)", said the logistics provider.

CWT said that Credit Suisse (Singapore) and DBS Bank are assisting the C&P shareholders with the strategic review. But it added: "The board understands from C&P that at this juncture, neither C&P nor its shareholders have commenced any formal process, nor are they engaged in any exclusive negotiations with any party. Accordingly, there is no assurance that su…