Stock News: Mapletree signed option to acquire a warehouse property!

Mapletree Logistics Trust Management Ltd said that Mapletree Logistics Trust, through trustee HSBC Institutional Trust Services (Singapore) Ltd, has signed a put and call option agreement to acquire a warehouse property within the Paya Lebar Industrial Park here for 38 mln sgd to be funded by debt. The seven-storey warehouse building, which has a gross floor area of about 23,367 square meters, is currently being upgraded and should be completed in the third quarter. Lease tenure for the land is expected to expire in 2053. It said the property will be leased back to the vendor for five years with an option to extend the lease for another five years. Targeted to be completed in the third quarter, the acquisition is expected to boost MapletreeLog's distribution per unit (DPU). "The pro forma financial effect of the acquisition on the DPU for 2005 would be an additional 0.14 Singapore cents per unit," Mapletree Logistics said.