SINGAPORE (Sept 4): Mapletree Logistics Trust (MLT) is divesting its property on 531 Bukit Batok Street 23 to Setsco Services, subsidiary of Vicom, for a consideration of $22.4 million.

Vicom intends for the property to replace Setsco Services’ current premises at Teban Gardens Crescent, which has been zoned for redevelopment under the Singapore government’s plans for the Jurong Lake District.

MLT says it will distribute any divestment gains from the transactions to unitholders, after taking into account all relevant costs and expenses, while the capital may be used to fund committed investments and/or reduce debt.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook