Mainboard-listed ARA Asset Management and CWT said their joint venture REIT has obtained a letter of eligibility to list its units on the Singapore Exchange (SGX). The joint venture REIT, called Cache Logistics Trust or CLT, will invest principally in logistics properties in the Asia Pacific region. It will be managed by ARA-CWT Trust Management, which is 60 per cent owned by ARA and 40 per cent by...
CWT
Logistics company CWT said that it is in advanced talks on the proposed sale and leaseback of its logistics facilities in 24 Penjuru Road and 2 Fishery Port Road. These facilities could eventually be included in the proposed listing of a real estate investment trust (REIT). However, CWT said it has not reached any definitive agreements yet and has not received any regulatory approvals for the proposed...
Logistics service provider CWT on Tuesday said it has sold one of its warehousing hubs in the Jurong area for S$115.2 million. No names were given, but CWT said the buyer is a property fund focused on the Asia-Pacific region. Under the agreement, CWT will lease the premises back for five years initially, with an option to renew for another three years. The company will realise a total gain of some...
Mainboard-listed logistics company, CWT, has opened two new logistics hubs in Singapore, expanding its warehouse space by one million sq ft. The new facilities cost CWT more than S$80 million, but they are expected to help drive revenue up by some 10 percent. Most of the new space will be used to store chemicals, which will help boost CWT's position in the sector. Loi Pok Yen, Group CEO of CWT, said: "We...