Following the approval for a major asset restructuring received in February 2016, China Shipping Container Lines (CSCL) now said that it is expected to switch from a container liner operator into an integrated financial services platform with leasing businesses.
The company’s new segments would cover vessel leasing, container leasing and non-shipping leasing as core and shipping financing as feature.
Furthermore, due to the change in business, the company said that it also plans to change its name and amend relevant articles.
The company’s Board of Directors proposes to change the name from China Shipping Container Lines Company Limited to COSCO SHIPPING Development Co., Ltd. The new name of the company has been pre-approved by the State Administration for Industry and Commerce.
The proposed name change and AoA Amendments will be subject to the passing of special resolutions by the shareholders at a general meeting to approve the changes.
Furthermore, these will be subject to the obtaining of all relevant approvals, authorizations, licenses and consents from the relevant governmental authorities, and the completion of all filings and registration procedures in the PRC in relation to the proposed changes.