The Straits Times / The Business Times News on Cosco

Cosco subsidiary gets US$13m contracts

COSCO Corporation (Singapore) announced yesterday that its subsidiary Cosco Shipyard Group (CSG) had secured four contracts totalling US$12.95 million. CSG is China's largest ship-repair group.

Cosco expects a positive contribution to its earnings from the contracts announced yesterday but these contracts are not expected to have a material impact on the net tangible assets and earnings per share for the year ending Dec 31, 2006.