Frasers Logistics & Commercial Trust to Acquire Jurong Property for SG$140 Million

MT Newswires10-18

Frasers Logistics & Commercial Trust (SGX:BUOU) struck a deal to acquire the remaining leasehold interest in 2 Tuas South Link 1 for SG$140.3 million, according to a Thursday filing with the Singapore Exchange.

The property is a six-story logistics facility located at the Jurong Industrial Estate. It comprises offices, car parking, and truck and trailer lots. Its occupancy rate is 85.8%.

The proposed acquisition will help the trust diversify its income stream in Singapore and reduce its exposure to foreign exchange volatility.

Shares of the trust were up nearly 3% in recent trading.

Price (SGD): S$1.14, Change: S$+0.020, Percent Change: +1.79%

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