11 November 2013

[111113.EN.SEA] Cosco Group Declares Ex-Chairman Capt Wei Jiafu Is Free To Travel At Will

CONTRARY to widespread reports, China Ocean Shipping Group's retired chairman Capt Wei Jiafu has not been prevented from leaving the country because of any connection with the current corruption probe, according to a company statement.

Said Cosco Group: "The company hereby clarifies the rumour that former chairman Wei Jiafu was forbidden from leaving China is groundless. The company will spare no effort to carry out authorities' plans to combat corruption."

Cosco later confirmed to the stock exchanges the investigation into Xu Minjie, chairman of Cosco Container Lines and a board member of China Cosco Holdings, the group's flagship unit listed in Shanghai and Hong Kong, but did not discuss the whereabouts of Capt Wei, said Lloyd's List.


Source : HKSG.

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