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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Global Logistic Properties incorporates two subsidiaries

They will focus on industrial investments in China.

Global Logistic Properties (GLP) incorporated two new indirect subsidiaries in China.

According to an announcement, the first company, Shanghai Pujing Investment Co. was registered for $10.2m (CNY50m). It will focus on industrial investment and consulting.

Meanwhile, Zhuhai Puqin Investment Consulting Co., Ltd. was registered for $16.5m (CNY81m) to focus on investment consulting.

GLP also disposed of its 30% equity interest in its indirect subsidiary Hangzhou Transfar Lixin Logistics Bas Investment Development Co., Ltd. (Hangzhou Transfar) for $33.1m (CNY162.5m).

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