Singapore company briefs: Frasers Logistics & Commercial Trust, Manulife US REIT and Marco Polo Marine.
Frasers Logistics & Commercial Trust
Frasers Logistics & Commercial Trust said Thursday it has completed the acquisition of land for a warehouse development in the Worcester Six business park in the West Midlands, in the U.K.
Manulife US REIT
Manulife US REIT said Thursday three of its U.S. sub-REITs have each issued 115 preferred units at US$1,000 each to persons unrelated to the REIT or to The Manufacturers Life Insurance Co. to meet requirements for U.S. income tax purposes.
The proceeds from preferred units’ issuance will be used to pay operating expenses of the sub-REITs, the REIT’s properties and the preferred units’ issuance, the REIT said in a filing to SGX.
Each of the preferred units carries a fixed dividend of 12 percent a year, the REIT said.
Marco Polo Marine
Marco Polo Marine said Thursday its joint venture, Oceanic Crown Offshore Marine Services, entered a deal to acquire PKR Offshore, which is part of a joint venture between Kerry TJ Logistics and Posh Investment Holdings (Taiwan), in a move to deepen its exposure to the Taiwan offshore wind farm sector.
PKR Offshore is a service provider for the offshore renewables sector, Marco Polo Marine said, adding the deal will add another two vessels to its fleet, building capacity for serving the offshore wind farm market.