Company Briefs: Global Logistic Properties

Global Logistic Properties

Logistics facilities provider Global Logistic Properties (GLP) has signed new lease agreements totalling 89,000 sq m with three leading retailers in China, including Carrefour.

The retailers are expanding to meet growing domestic demand, GLP said in an exchange filing yesterday. "Growing domestic consumption continues to drive demand for GLP's modern facilities across China and we are very pleased to extend our partnership with these major retail leaders and support their growth," said president of GLP China Kent Yang.

Rex International Holding

Catalist-listed oil exploration and production firm Rex International has appointed oil veteran Svein Kjellesvik as its new chief operating officer. Mr Kjellesvik is a geophysicist with four decades of experience in the oil industry. He has held leading positions in oil-field company Schlumberger's seismic division and corporate headquarters since the 1970s to 2002.

Since retiring from Schlumberger, Mr Kjellesvik has been an independent entrepreneur and has been involved in the start-up of Rex Middle East and Lime Petroleum.

ISDN Holdings

Integrated engineering solutions provider ISDN Holdings has set up a company together with two Indonesian firms to develop and manage an industrial complex in South Sulawesi.

ISDN has an 85 per cent stake in the company, called PT ISDN Bantaeng Corp, which is the exclusive manager and developer of Bantaeng Industrial Park. The 3,000ha site is being positioned as a key smelting hub for commodities, particularly nickel.

China Everbright Water

Environmental protection firm China Everbright Water has confirmed a tariff hike of over 12.3 per cent at its Jinan Licheng Reusable Water Project, with retrospective effect from July 1.

The project is the largest single reusable water project in Shandong province, with a designed daily reusable water supply capacity of 42,000 cubic metres. It provides reusable water as circulating coolant for its customers.

The company's engineering arm, Jiangsu Tongyong Environmental, also obtained a special fund of approximately 1.1098 million yuan (S$246,000) from the municipal government of Yixing city, Jiangsu province.

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A version of this article appeared in the print edition of The Straits Times on October 09, 2015, with the headline Company Briefs: Global Logistic Properties. Subscribe