Hong Kong: Hong-Kong listed Sinotrans Limited is considering a possible reorganization with the parent company Sinotrans & CSC Group, Zhang Jianwei, president of Sinotrans announced on the company’s interim result press conference yesterday.
According to Zhang, Sinotrans is looking to integrate its core business operation and related assets into the parent company, to reduce potential competition between the parent company and its subsidiaries. The plan will come out within this year, and the integration might take about two years.
Sinotrans announced a net profit of RMB450m for the first half of 2013, a year-on-year growth of 15.4%. [23/08/13]
