Shipping

12
Significant Events
COSCO Corporation
(Singapore) Limited
December
Acquisition of 51% of COSCO Shipyard Group
Co. Ltd completed.
November
Two Panama-incorporated subsidiaries, COS
Orchid Shipping Inc. and COS Prosperity
Shipping Inc. were dissolved.
EGM approved acquisition of 51% of COSCO
Shipyard Group Co Ltd.
October
COSCO Corporation awarded the Gold
Award, the top prize among 15 companies, for
entrepreneurship and commitment to good
enterprise values. The competition was organised
by Global Entrepolis Singapore as part of its
inaugural International Brand Summit.
September
Entered conditional agreement to sell M.V.
Sea Swan for US$11,150,000 as part of ongoing
shipping fleet renewal exercise.
Entered conditional agreement to acquire 51% of
COSCO Shipyard Group Co Ltd, owner of 7 major
shipyards in China, at a cost of RMB578m.
May
COSCO Group (China Ocean Shipping Group
Companies) became a direct controlling
shareholder of the Company with the transfer
of 55.07% stake from COSCO Holdings
(Singapore) Pte Ltd.
180,757,078 new ordinary shares listed and
quoted on SGX Mainboard pursuant to
1-for-5 Bonus Shares issue.
April
Increased stake in COSCO Marine Engineering
Pte Ltd from 60% to 90%
March
COSCO Corporation won the honour of becoming
a blue chip component stock of the Straits Times
Index (STI), the SGX’s main benchmark index.
COSCO Corporation met stringent criteria to
become a constituent of the London benchmark
FTSE All-World Asia Pacific (Ex-Japan) Index.
2004