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Apr 1, 2010
No late disclosure: Temasek
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Cosco said Temasek would no longer be a substantial shareholder, as its deemed stake had fallen below the 5 per cent mark. -- ST PHOTO: SAMUEL HE
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TEMASEK Holdings yesterday clarified that there was no late disclosure of the fact that it is no longer a substantial shareholder of China-based shipbuilder Cosco Corp (Singapore).
The investment agency said it had not made any late discovery related to this change, and had reported its new status well within the requisite two-day timeframe for reporting such changes.
It said yesterday that the fall in its deemed stake in Singapore-listed Cosco to below 5 per cent was triggered by a share sale on March 25 by DBS Group Holdings, which then reported its stakeholding change to Temasek on Monday.
Temasek's comments about the disclosure come on the heels of a statement
Cosco made to the Singapore Exchange on Tuesday, in which it said the stake held in it by Temasek had fallen from 5.59 per cent to 4.99 per cent.
Cosco said Temasek would no longer be a substantial shareholder, as its deemed stake had fallen below the 5 per cent mark.
Read the full story in Thursday's edition of The Straits Times.
No late disclosure: Temasek
<!-- by line --><!-- end by line -->
<!-- end left side bar -->
<!-- story content : start -->
TEMASEK Holdings yesterday clarified that there was no late disclosure of the fact that it is no longer a substantial shareholder of China-based shipbuilder Cosco Corp (Singapore).
The investment agency said it had not made any late discovery related to this change, and had reported its new status well within the requisite two-day timeframe for reporting such changes.
It said yesterday that the fall in its deemed stake in Singapore-listed Cosco to below 5 per cent was triggered by a share sale on March 25 by DBS Group Holdings, which then reported its stakeholding change to Temasek on Monday.
Temasek's comments about the disclosure come on the heels of a statement
Cosco made to the Singapore Exchange on Tuesday, in which it said the stake held in it by Temasek had fallen from 5.59 per cent to 4.99 per cent.
Cosco said Temasek would no longer be a substantial shareholder, as its deemed stake had fallen below the 5 per cent mark.
Read the full story in Thursday's edition of The Straits Times.
