MapletreeLog has divested its property at 9 Tampines Str 92 to Trans-cab Services for $12.5m. Property valued at $12m as of 1 Dec and was previously leased to Elchemi Assets but currently unoccupied. Original cost at $11.2m, MLT expects to realise net gain of $1.2m and to complete sale by 1Q 2011…
It consists of a 2 storey industrial warehouse and an office block, with total gfa of 11k sqm. Pending further announcements, the $1.2m gain will increase DPU from 4 to 5 cents as for 9M 2010 if distributed. Est DPU for year was at 6.1 cents before divestment.
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