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| Friday, 15 December 2017, 20:40 HKT/SGT | |
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Focuses on Commodity Trading, Financial Services and Logistics Businesses;
Enters New Development Stage |
HONG KONG, Dec 15, 2017 - (ACN Newswire) - HNA Holding Group Co. Limited ("HNA Holding" or the "Company", stock code: 521.HK) announced that it has officially changed its name from "HNA Holding Group Co. Limited" to "CWT International Limited" on 11 December 2017, the resolution of which was 100% approved by shareholders at the General Meeting held on 29 November 2017. In addition, the Company completed today the acquisition of all equity of CWT Limited ("CWT", together with its subsidiaries "CWT Group", SGX: C14), and as stated in the relevant announcements, CWT will delist from the official list of the SGX-ST from 9:00 a.m. on 18 December 2017.
The stock code of the CWT International Limited on the Hong Kong Stock Exchange ("HKSE") remains as "521". The stock short name of the Company for trading of shares on the HKSE will change from "HNA HOLDING" , to "CWT INT'L" , effective from 9:00 a.m. on 20 December 2017. The website address of the Company will also change from www.hnaholdinghk.com to www.cwtinternational.com, effective from 20 December 2017.
CWT International Limited commented, "After the acquisition of CWT Limited is completed, the Company will have an optimized business structure. The new name 'CWT International Limited' depicts a big picture with more dedicate presence of the Company's new businesses and future strategies. Looking forward, the Company will place more focus on bulk commodity trading, logistics warehousing and ancillary financial services businesses. With a new corporate image, it will take advantage of China's 'One Belt One Road' Initiative to explore new development opportunities, all to the end of creating better returns for shareholders."
CWT Limited, a Singapore-listed integrated logistics service provider taking the leading position in the international logistics and commodity trading industries and has business presence in about 90 countries around the world. CWT prides ownership of international logistics, commodity trading and financial service platforms and has been committed to providing integrated logistics solutions covering from capital to service to customers.
After the acquisition is completed, CWT International Limited will strive to develop into a leading integrated commodity trading services provider with global reach drawing on the CWT Limited's established global network, brand and resources advantages and mature capital operation experience. The combination of strengths and synergies that brings will enable CWT International Limited to actively seize the opportunities arising from the "One Belt One Road" Initiative, focusing on bulk commodity trading, ancillary financial services and logistics businesses, helping the company further enhance its business in the China market and boost economy of scale.
Topic: Press release summary
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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