KTL Global to acquire Tuas industrial property for S$6m as it expands into distribution

Claudia Chong
Published Tue, Jul 27, 2021 · 10:27 PM

KTL Global has entered into a non-binding memorandum of understanding with Warehouse Logistics Net Asia to acquire an industrial property at Tuas for S$6 million as the company diversifies into the distribution business.

The property is currently being leased by Singapore e-commerce platform Ebuy, a distributor of fresh produce in Singapore that KTL is acquiring 51 per cent of.

The industrial property has a remaining lease of seven years. KTL intends to submit a request to JTC Corporation for a lease extension. It plans to invest in new material and storage facilities to manage and distribute a larger volume of fresh produce and consumer goods in Singapore.

Ebuy distributes fresh produce to food service providers, retailers, restaurants and hotels. With its fulfilment centre, it has built up its own logistics supply chain network with a fleet of delivery vehicles, KTL said.

The group's executive director Chin Teck Oon said the property acquisition will provide a strong foundation to build a highly efficient supply chain for KTL's fresh produce and consumer goods business activities.

"This will enable us to better serve a larger customer base with a wider range of consumer products that we aim to import, market and distribute in Singapore," he added.

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