COSCO’s listed subsidiary joins Singapore exchange index

COSCO’s listed subsidiary joins Singapore exchange index    COSCO Corp. (Singapore) Ltd., listed on the Singapore stock exchange, will join the exchange’s benchmark Straits Times index on Monday.
   The China Ocean Shipping Co. group, parent company of COSCO Corp. (Singapore), said it is believed to be the first state-owned enterprise in China to be listed as part of the benchmark index of the Singapore exchange.
   COSCO Corp. (Singapore) was first listed on the Singapore exchange in 1993. Its core business is shipping and ship-related activities. Described by COSCO group as its “flagship investment holding company in this region,” COSCO Corp. (Singapore) is “a vehicle for the group to expand its Southeast Asian shipping network and to raise investment funds in the process,” the Chinese group said.
   COSCO Corp. (Singapore) is one of seven public companies of the COSCO group, and the only one listed in Singapore. The other companies, including COSCO Pacific Ltd. and COSCO International Holdings Ltd., are listed on the stock exchange of Shanghai, Shenzhen and Hong Kong.