Hong Kong-listed CMHI, majority controlled by China Merchants Group, said the new name will better reflect the current strategy of the company to focus on ports and port-related businesses, providing a clearer identification and image for the company.
“In recent years, the group has been divesting its non-core businesses and it has been the group’s strategy to strengthen and develop its ports and port-related businesses (both domestic and overseas) through investment in new projects or acquisition of high quality port-related businesses and assets,” CMHI said.
The new name China Merchants Port Holdings is subject to approval by shareholders at the next annual general meeting of the company.
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