日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Companies

Orient set to retain HQ, listing in HK

By DUAN TING in Hong Kong | China Daily | Updated: 2017-08-08 07:59

Orient set to retain HQ, listing in HK

A crewman onboard the Atlanta, a container ship of Orient Overseas Container Line, a subsidiary of OOIL, on the main deck at the Modern Terminals area of the container port in Hong Kong. BLOOMBERG

New owner COSCO to operate shippers as two brands under one group

Hong Kong's No 1 container carrier Orient Overseas (International) Limited will retain its listing status and Hong Kong headquarters as it joins a two-brands-under-one group model following its acquisition by COSCO Shipping Holdings, the company announced on Monday.

COSCO, the biggest shipping company on the Chinese mainland, announced a month ago it was offering HK$49 billion ($6.27 billion) to buy OOIL, which was founded by former special administrative region chief executive Tung Cheehwa's family in 1969. The purchase will create the world's third-largest shipping line with more than 2.9 million standard containers and 400 vessels, surpassing French container, transport and shipping company CMA CGM Group.

Alan Tung Lieh-Sing, chief financial officer at Orient Overseas, said the acquisition was a careful and reasonable business decision for shareholders and the company, and details of the deal-including?operational arrangements and whether and how the Tung family would continue serving in management positions-were still under negotiation. The deal needed at least six more months to be completed.

State-owned COSCO offered HK$78.67 for each Orient Overseas share, a premium of 37.8 percent over the closing share price of HK$57.10 on July 9. After completion of the deal, COSCO shipping will hold 90.1 percent of Orient Overseas while Shanghai International Port Holding will hold the remaining 9.9 percent. COSCO shipping will be in talks with the Committee on Foreign Investment in the United States on the offer, according to Tung.

The shipping industry has been recovering profits and improving performance but has faced significant industrial consolidation amid changes in the demand and capital environment worldwide in the past three years, according to Tung. He believes the cost of shipping transport and volumes will increase in the future and is positive about development of the industry, which he believes has gone through a trough. But he concedes the industry will find it hard to restore the buoyant performance seen in 2000.

Orient Overseas reported net profit of HK$418 million in the first half of this year following a HK$442 million loss in the same period last year. Revenue increased 13.2 percent year-on-year to HK$22.6 billion and operating profit amounted to HK$197.3 million. Interim dividend was 16.7 Hong Kong?cents.

Dickie Wong, executive director of research at Kingston Financial Group, said the acquisition is a good result for both the companies and the shipping industry, and believes the integration of the two companies will stimulate the group's profitability, though he thinks it may take time for the two companies to develop synergies.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 日韩不卡在线视频 | 国产精品一区av | 不卡国产一区二区三区四区 | 国产不卡在线观看视频 | 亚洲黄色免费 | 国产亚洲精品久久无码小说 | 亚洲视频在线一区 | 九九精品免费 | 欧美特黄 | 亚洲欧美二区三区久本道 | 欧美一级特黄aaaaaaa在线观看 | 天堂在线网 | 狠狠色丁香婷婷 | 污污网站国产精品白丝袜 | 最新日韩精品在线观看 | 久久精品美女 | 欧美一区二区免费 | 九九热视| 午夜第一页 | 国内精品久久久久久2021浪潮 | 天天草夜夜爽 | 污视频网站免费看 | 久久国产精品久久久久久久久久 | 午夜视频一区二区三区 | 亚洲综合精品香蕉久久网97 | 色综合久久天天综合网 | 5g免费影院永久天天影院在线 | 欧美一区二区三区久久综合 | 午夜视频网址 | 手机在线观看亚洲国产精品 | www.夜夜骑.com | 四虎影片 | 日本三级带日本三级带黄国产 | 成人自拍偷拍 | 天天射天 | 国产精品1 | 亚洲aⅴ天堂av在线电影软件 | 国产精品人妻无码久久久郑州 | 亚洲十欧美十日韩十国产 | 美女扒开内裤让男人桶 | 国产sm主人调教女m视频 |