Big swing to profit for COSCO on the cards

Hong Kong: China's leading shipping giant, China COSCO Holdings, expects to have a significant business growth in 2010. The company expects to bag a record net profit for 2010 against a net loss for 2009, according to a file to the Hong Kong stock exchange on Wednesday.
China COSCO Holdings made a net profit of 5.64bn yuan ($851.4m) in the first nine months of 2010 compared to a loss of 5.36bn yuan a year before. [06/01/11]