Eneco Energy to Acquire Singapore Warehouse for SG$24 Million
MT Newswires
Aug 10
Eneco Energy's (SGX:R14) subsidiary, RichLand Global, agreed to acquire an industrial property in Singapore for SG$24.2 million, according to a Friday filing with the Singapore Exchange.
The property comprises a three-story ramp-up warehouse and a workers' dormitory, covering an area of around 26,420.
The property is being acquired from a trustee of ESR-REIT, and will be funded through internal resources and bank borrowings.
The acquisition will allow the logistics service provider's unit to consolidate its storage and operations under a single facility.
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