COSCO’S PROPERTY COMPANY REPORTS HALF-YEAR LOSS

   COSCO International Holdings Ltd., the big Hong Kong-based property company of the China Ocean Shipping Co. group, reported an operating loss of HK$19.3 million (US$2.5 million) for the first half of the year, compared to a deficit of HK$75.3 million for the same period last year.
    The loss attributable to shareholders amounted to HK$19.8 million (US$2.6 million), an improvement of 74 percent over the last corresponding period.
    Revenues soared by 75 percent, to HK$749.1 million (US$96.5 million).
    The Hong Kong-based company said that it was able to make a substantial growth in revenues and a reduction in operating loss despite the difficult economic environment in the first half of 1999.
COSCO International is a listed company owned by COSCO (Hong Kong).