COSCO Shipping International Co., Ltd. Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2017
April 04, 2018 at 05:39 am EDT
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COSCO Shipping International (Singapore) Co., Ltd. Announced audited consolidated earnings results for the year ended December 31, 2017. For the full year, the company reported sales was SGD 37,186,000 against SGD 40,505,000 a year ago. Loss before income tax was SGD 26,649,000 against SGD 25,471,000 a year ago. Loss from continuing operations was SGD 27,055,000 against SGD 25,993,000 a year ago. Profit attributable to equity holders of the company was SGD 263,876,000 against loss attributable to equity holders of the company of SGD 466,499,000 a year ago. Loss attributable to equity holders of the company relates to continuing operations was SGD 27,248,000 against SGD 26,128,000 a year ago. Diluted loss per share from continuing operations was 1.22 cents against 1.16 cents a year ago. Net cash provided by operating activities was SGD 341,885,000 against net cash used in operating activities of SGD 438,436,000 a year ago. Additions to property, plant and equipment was SGD 9,231,000 against SGD 26,070,000 a year ago.
COSCO SHIPPING International (Singapore) Co., Ltd. is a Singapore-based investment holding company. The Company is an integrated logistics service provider in South Asia and Southeast Asia. The Company is engaged in dry bulk shipping, ship repair and marine engineering, as well as property management. Its segments include shipping; ship repair, and marine engineering activities; logistics, and property management. The Company's business segments operate in two main geographical areas: Singapore, which includes the operations in shipping, ship repair and marine engineering related activities, logistics, property management, and Malaysia, which includes the operations in logistics activities. The Company, through its subsidiary, Cogent Holdings Pte. Ltd., manages and operate approximately 3.5 million square feet of covered and open storage spaces located in the logistics hub districts in Singapore.