Cogent’s 6.3% gain provides cushion against SGX dip; Sarine Tech added

SINGAPORE (April13): Logistics player Cogent Holdings is up 6.3% from its April 4 close, after it announced some positive developments related to its facilities here and in Malaysia during the past week. That has enabled our Singapore Market Portfolio to outperform the Straits Times Index over the one-week period to April 11, albeit marginally. Our portfolio slipped 0.12%, while the STI fell 0.14%.

On April 7, Cogent said it had completed construction of a container depot on Jurong Island and that the depot was now fully operational. The facility was built on a 2.5ha plot of land, which the company had leased from JTC for a three-year period.

“With this, the group has expanded its container depot management services to Jurong Island, which will support the initiative by the company to grow its container depot capabilities and customer base for its future Jurong Island chemical logistics facility,” Cogent said in a statement.

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