Company briefs: Mapletree Logistics Trust; Oxley Holdings; Jollibee
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ST PHOTO: KUA CHEE SIONG
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Mapletree Logistics Trust
The manager of Mapletree Logistics Trust said yesterday it has acquired five freehold logistics properties in South Korea for 280 billion won (S$336 million).
The properties, which are in Yongin-Icheon, are being acquired from KookminBank Co, in its capacity as the trustee for two Mirae Asset MAPS trusts.
Spanning almost 150,000 sq m in total gross floor area on some 148,800 sq m of freehold land, the properties are modern warehouses with a weighted average age (by net lettable area) of 4.2 years. The manager expects the acquisitions to be accretive to Mapletree's distribution per unit.
Oxley Holdings
The developer's net profit for the six months ended Dec 31 last year more than doubled year on year to $34.12 million from $15.72 million.
Revenue rose 25 per cent year on year to $745.35 million, stemming from revenue contributions from a wholly owned subsidiary in Australia which were consolidated into the group's results from October 2019.
Stripping out revenue from the subsidiary, group revenue for the period would have been 9 per cent higher, largely due to development projects in Cambodia, Singapore and Britain, the developer said.
THE BUSINESS TIMES
Jollibee
Jollibee Foods Corporation will boost capital spending by a fifth to open 450 new stores mostly overseas, as the Philippines' largest restaurant operator foresees a return to profit this year following its first annual loss in nearly three decades.
The company will spend 12.2 billion pesos (S$337 million) this year, up 22 per cent from the 10 billion pesos last year.
Many store openings this year will be outside of the Philippines, mostly in North America, Vietnam and China, it said in a statement.
BLOOMBERG
