CWT acquires TDPL and OCWS (Singapore)
CWT has acquired two Singapore-based warehousing companies – Trident Districentre Pte Ltd (TDPL) and OCWS Logistics. Both companies will become wholly-owned subsidiaries of CWT.
CWT has completed a conditional sale and purchase agreement to acquire the entire issued and paid-up share capital of TDPL: 75% equity stake from Neptune Orient Lines (NOL) and 10% from Interlocal Exim and 15% from IFS Capital Ltd.
As at September 22, 2006 the net asset value of TDPL was negative S$22.7 million.
CWT will acquire 11.25 million ordinary shares in TDPL from NOL, 1.5 million from Interlocal and 2.25 million IFS.
CWT Limited will pay the purchase price of S$3 and the assignment consideration of S$10.5 million for the assignment of part of the outstanding loan due to NOL from TDPL to CWT. NOL shall waive the balance loan due from TDPL to NOL of about S$22 million.
TDPL’s primary business activity is the provision of warehousing services and customs bonded facilities. The company’s automated storage and retrieval system (ASRS) and air-conditioned storage facilities for temperature-sensitive goods will expand CWT’s scope of niche logistics solutions.
CWT has also entered into a conditional sale and purchase agreement to acquire the entire issued and paid-up share capital of OCWS from NOL.
As at September 22, 2006 the net asset value of OCWS was S$20.9 million.
CWT will acquire 20 million ordinary shares of OCWS from NOL for the purchase price of S$20.
OCWS’s primary business activities are the provision of container depot and services, trucking and warehousing services. The company has two container depots with storage capacity of more than 7,000 TEU. Equipped with container repair and cleaning facilities, OCWS provides a comprehensive range of container repairs and maintenance services for general, ISO tank and reefer containers.
The acquisition will expand OCWS’s container depot capacity to about 20,000 TEU, and will also extend the Group’s chemical logistics solutions to include ISO tank, reefers and hazardous goods tank servicing.
Established in 1970, CWT currently provides logistics infrastructure (warehousing), commodity logistics, collateral management services, chemical logistics, local transportation, project and niche value-added logistics, NVOCC services, packaging solutions, and engineering and facilities management services.
The CWT Group has a global presence in Australia, China, Hong Kong, India, Korea, Malaysia, Pakistan, Sri Lanka, Thailand, Egypt, Spain, the Netherlands and the Middle East. Its global freight forwarding network and advance systems connect customers to 120 ports and 1,200 destinations seamlessly around the world.
CWT has completed a conditional sale and purchase agreement to acquire the entire issued and paid-up share capital of TDPL: 75% equity stake from Neptune Orient Lines (NOL) and 10% from Interlocal Exim and 15% from IFS Capital Ltd.
As at September 22, 2006 the net asset value of TDPL was negative S$22.7 million.
CWT will acquire 11.25 million ordinary shares in TDPL from NOL, 1.5 million from Interlocal and 2.25 million IFS.
CWT Limited will pay the purchase price of S$3 and the assignment consideration of S$10.5 million for the assignment of part of the outstanding loan due to NOL from TDPL to CWT. NOL shall waive the balance loan due from TDPL to NOL of about S$22 million.
TDPL’s primary business activity is the provision of warehousing services and customs bonded facilities. The company’s automated storage and retrieval system (ASRS) and air-conditioned storage facilities for temperature-sensitive goods will expand CWT’s scope of niche logistics solutions.
CWT has also entered into a conditional sale and purchase agreement to acquire the entire issued and paid-up share capital of OCWS from NOL.
As at September 22, 2006 the net asset value of OCWS was S$20.9 million.
CWT will acquire 20 million ordinary shares of OCWS from NOL for the purchase price of S$20.
OCWS’s primary business activities are the provision of container depot and services, trucking and warehousing services. The company has two container depots with storage capacity of more than 7,000 TEU. Equipped with container repair and cleaning facilities, OCWS provides a comprehensive range of container repairs and maintenance services for general, ISO tank and reefer containers.
The acquisition will expand OCWS’s container depot capacity to about 20,000 TEU, and will also extend the Group’s chemical logistics solutions to include ISO tank, reefers and hazardous goods tank servicing.
Established in 1970, CWT currently provides logistics infrastructure (warehousing), commodity logistics, collateral management services, chemical logistics, local transportation, project and niche value-added logistics, NVOCC services, packaging solutions, and engineering and facilities management services.
The CWT Group has a global presence in Australia, China, Hong Kong, India, Korea, Malaysia, Pakistan, Sri Lanka, Thailand, Egypt, Spain, the Netherlands and the Middle East. Its global freight forwarding network and advance systems connect customers to 120 ports and 1,200 destinations seamlessly around the world.