Singapore-listed Logistics Trust (MLT) is investing S$1.09bn (鈧�682M) to buy nine logistics facilities in Malaysia, Vietnam and China, along with a remaining 50% interest it doesn鈥檛 already own in 15 China properties.
The properties are currently held in subsidiaries of the sponsor, , and subsidiaries of Japan鈥檚 Itochu Corporation.
The facilities which MLT had contracted to acquire had a committed occupancy of 94.7%.
MLT said the acquisitions would strengthen its position in the pan-Asian logistics markets, giving it a foothold in 51 cities housing more than 150m people.
鈥淭he prominent role that delivery services played during the COVID-19 pandemic has highlighted the value of modern logistics facilities located in close proximity to population centres and transportation networks,鈥� MLT said.
Supply chain shocks due to ongoing trade tensions had prompted many global manufacturers to diversify their supply chains across Asia in a multi-country strategy.
鈥淐ompanies are mostly choosing to adopt a 鈥淐hina Plus鈥� strategy, keeping production bases 鈥渋n China for China鈥� to serve the local market, while building incremental capacity elsewhere,鈥� MLT said.
To read the digital edition of the latest 91传媒在线 magazine click .
