Corporate digest

CPH Ltd

CPH Ltd clarified that it will seek approval from shareholders for the proposed disposal of its Singapore factory, as the disposal is considered a major transaction.

The clarification was made in response to an article in The Business Times which stated that the company had obtained a waiver of the requirement to seek approval from shareholders for the transaction.

CPH said that it had granted an option to purchase the property in November, an action that originally required shareholders' approval. It was for this requirement that it received a waiver from the Singapore Exchange Securities Trading Limited.

Mapletree Logistics Trust

MAPLETREE Logistics Trust has acquired Higashi Hiroshima Centre, a newly built freehold logistics facility in Hiroshima, Japan, for 6.37 billion yen (S$82.1 million).

The acquisition will be funded by debt, and is expected to be accretive at the distribution level. It is expected to generate a stabilised net property income yield of 4.5 per cent, based on the property purchase price of 6.37 billion yen.