Mapletree Logistics divests property at Tampines

Mapletree Logistics on Thursday said it has successfully divested a property located at 39 Tampines Street 92.

In a stock exchange filing, Mapletree Logistics said the property was sold for S$14.7 million.

Around S$13.8 million of this will be redeployed to partially fund the acquisition of Jian Huang Building 1.

That amount is equivalent to the original acquisition cost of the property.

The company said the final distributable amount will be determined and announced at a later date, after taking into consideration all relevant costs and expenses.

Source : Channel NewsAsia – 7 Jul 2011

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