Red chip Chu Kong Shipping Development Co is seeking to acquire interests in a cargo terminal on the Pearl River delta from its parent, managing director Jackie Huang Jiangji says.
Without giving a timetable, Mr Huang said yesterday it was 'taking the acquisition plans seriously' and that negotiations had been accelerated.
Chu Kong said during its listing in May it would buy stakes in 12 cargo terminals from parent company Chu Kong Shipping Enterprises (Holdings) Co (CKSE).
It acquired a 30 per cent stake in Dongguan Humen Container Terminal from CKSE as part of the listing.
It is understood Chu Kong - which generates income mainly from river trade transport and toll-road investment - is also keen to acquire some of CKSE's passenger transport operations early next year.
CKSE has 22 passenger routes in the Pearl River delta, with interests of between 18 per cent and 50 per cent in 12 passenger terminals.
Growth in the past two years has been flat for passenger transport.
