(Yicai Global) Nov. 14 -- HNA Holding Group Co. [HKG:0521], Hong Kong-based subsidiary of HNA Group Co., will be renamed as CWT International Limited, which is the title of a Singapore-based storage and logistics enterprise acquired by the Group in November last year, the company said.

In a filing submitted to the Hong Kong Stock Exchange last weekend, HNA Holding said it now owns 98.1 percent of CWT's equity and the businesses of the firm and its subsidiaries, which engage in merchandise trade, financial services and logistics services, and they have now become HNA's major businesses accordingly. Therefore, the board of directors believe renaming the company can better embody and accord with its business and development strategies.