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Cache Logistics Trust
CACHE Logistics Trust has reached an amicable resolution to the dispute it has been involved in with Schenker Singapore Pte Ltd, over the property 51 Alps Avenue in Singapore, with all parties agreeing to take steps to discontinue legal proceedings. Schenker and HSBC Institutional Trust Services (Singapore), as trustee of Cache Logistics Trust, have also entered into a fresh lease agreement where Schenker will lease 100 per cent of the property for a period of 46 months, starting from Nov 1, 2017, and HSBC Institutional Trust Services (Singapore) will receive a lump-sum payment of some S$8.2 million as part of the amicable resolution.
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