CSC Phoenix to suspend listing

Shanghai: CSC Phoenix, the bankrupt subsidiary of Sinotrans & CSC, announced that it has received notice from Shenzhen Stock Exchange that the exchange will suspend the listing of CSC Phoenix from May 16 as the company has been suffering from losses for three consecutive years.

CSC Phoenix said it is currently making efforts on a restructure of the company as planned and is trying to resume it's listing next year.

CSC Phoenix reported a net profit of RMB16m for the first quarter of this year and it was the first quarterly profit the company has made in the past four years. [14/05/14]

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