SG brief: Natural Cool and Mapletree Logistics Trust

Singapore dollar billsSingapore dollar bills

Natural Cool Holdings‘ wholly owned subsidiary Natural Cool Investments (NCI) became unable to pay rent to Mapletree Logistics Trust for the property at 29 Tai Seng Avenue in Singapore from February to May as the REIT informed the company the property could no longer be subleased due regulatory changes, the company said in a filing to SGX Thursday.

Natural Cool has previously said Mapletree Logistics Trust has issued a letter of demand for rental arrears of S$1.42 million.

The company said negotiations with the REIT to resolve the matter are still ongoing.