Dedicated platform for global communication. A modern free zone will built on a reclaimed land at Northport (inside the port area). Covering 923 hectares. the new development will allow for improved transport flows. with permanent tax and fee exemptions. Access to and from the China Overseas Port Holding Company free zone is being developed by the authorities to ensure.
Free zone companies – including but not limited to:
- container yard
- Obstructive storage
- Room temperature storage, constant temperature, refrigeration equipment
- International procurement, transportation and distribution
- Padding and padding removal
- Light final assembly and reassembly
- import and export
- Value-added export
- Value-adding and service establishments for imported goods to China Overseas Ports Holding Company
Other related business
The Gwadar Free Zone will designed with the unique needs of manufacturing, trading. and service industries in mind.
COPHC-Pakistan said that “he is a subsidiary of COPHC,
According to documents filed by China Overseas Port Holding Company-Pakistan with the Securities. and Exchange Commission of Pakistan (SECP). a provision of three shares (one share for each of the three principals). and the remaining 10 million shares will go to Hong Kong-based COPHC. It has revealed that it owned by Limited.
COPHC Pakistan has not filed annual documents for his 2017 fiscal year.
Securities and Exchange Commission
In its annual documents dated (Form A of 2016). and filed with the Securities and Exchange Commission of Pakistan. COPHC-Pakistan gives the following address. for its parent company: Room D, 3/F Thomson Commercial Building, 8-10 Thomson Road. Wanchai, Honk Kong. Accounts and other updated documents. But this is a small matter. The real deal is about the company’s assets and profile. Being a one-room “start-up and fast-growing company” is a red flag. —often referring to a classic paper company—
Fast-growing company COPHC
Being a one-room “start-up. and fast-growing company” is a red flag—often referring to a classic paper company—especially. if that room shared by at least four other companies, and one of them appears in the Panama Leaks.
The four companies registered in the same chamber as the parent company of China Overseas Port Holding Company. Pakistan in Hong Kong are as follows and a certain auto parts company To reaffirm. BR Research picked two companies at random (Acota and Dynasty). and purchased their documents. from the Honk Kong government – both have the same COPHC-Hong Kong addresses.
Group of Chinese companies
COHPC-Hong Kong could be a vehicle for a group of Chinese companies involved in the business of port operations. port development, port financing and so on. But even if this is the case, those involved in handing over the port to COPHC. and those who oversee the port must know and disclose the details of the union. After all, they are building the central pillar of the economic corridor. and sharing details of consortium parties is not uncommon. the sale of a strategic stake in the Pakistan Stock Exchange is one recent example.
Hong Kong-based parent company
Seeing the red flag, BR Research reached out to a group of stakeholders to find the profile. and background of parent company COPHC-Pakistan and its key management. Most of the stakeholders from the planning committee to the signatories. the concession agreement signed in 2013, said that it is a Chinese state-run company. But when pressed for evidence. they said they didn’t have any. and that what they did have was just an “assumption” that COPHC was a state-run corporation. BR Research also sent letters/emails. and made phone calls to both COPCH-Pakistan. and Gwadar Port Authority officials, requesting information on China Overseas Port Holding Company Hong Kong-based parent company. But it’s been almost a week, and no one has officially responded yet. For a piece of information that is standard
International research firms
China has been shopping for ports all over the world. The matter has captured the attention of both international media. – such as The Financial Times. and the Economist Intelligence Unit – as well as international research firms such as Drewry maritime. and shipping consultants. Many detailed reports and studies on this subject have published in recent months. In those reports. three Chinese port and terminal buyers stand out the most. Cosco, China Shipping, and China Merchants. COPHC does not appear in any of those studies. although the company is, according to Hong Kong government document. not entirely new; Founded in August 2012. When Pakistan invited bids for the Gwadar port development in 2006. leading seaport operators from Dubai, Saudi Arabia. China and Singapore participated in the bids for the award of the build-operate-transfer (BOT) contract. The bidding committee wassailed at the time by Farooq Rahmatullah – a seasoned.
Expense of transparency
In 2013, when China Overseas Port Holding Company awarded port concessions after years. of non-performance by PSA International. there was no slate of competitors. If there is, it is definitely not announced. The port was simply handed over to COPHC. as the media reported silence about the company’s profile and background. Most observers assumed it was a Chinese state-run company. But no one really knows for sure. Will a Chinese state-run company have a one-room shared office?
In the end, uninclined to think that there is something fishy about China Overseas Port Holding Company-Pakistan. considering it housed in a single room in Hong Kong. At the other extreme. one would like to capitalize on the suspicion that perhaps this is how the Chinese operate
Also read: Gwadar today