Sunday, October 13, 2013

Freight Forwarding and Logistics Group Expands Its Property Development Interests

Company Buys into Designer and Builder of Commercial Projects
Shipping News Feature

SINGAPORE – WORLDWIDE – The Freight Links Group, whose main business is the provision of forwarding and logistics services from its headquarters in Singapore, and through its own offices situated in Malaysia, Thailand, Hong Kong and China, also has a subsidiary interest in warehouse property management, and has this week announced further investment in the field.

Through its wholly-owned subsidiary, Singapore Enterprises Pte Ltd, the company has acquired 55,509,200 ordinary shares representing 24.89% shareholdings in Figtree Holdings Pte Ltd, a group specialising in the design and building of commercial and industrial facilities and with a secondary interest in property development. The deal has cost Freight Links S$2,741,840 whilst the net tangible asset value of the acquisition is estimated at about S$2,275,877, based on unaudited accounts.

Freight links current warehousing facilities in Singapore extend to over 2 million square feet and utilise an automatic storage and retrieval system whilst Figtree’s portfolio includes the full spectrum of the project development process including land search and authority liaison, feasibility studies, design and construction.

Photo: Freight Links Toh Guan (Singapore) warehouse.