SINGAPORE, May 22, 2015 /PRNewswire/ -- CWT Limited (SGX:C14) ("CWT" or the "Group") today announced that AIMS AMP Capital Industrial REIT ("AA REIT") has selected Indeco Engineers Pte Ltd ("Indeco" or the "Company"), its wholly-owned engineering subsidiary, to provide design-and-build solutions for a new warehouse facility at 30 & 32 Tuas West Road. This is the third construction project which Indeco has undertaken for AA REIT as the Company continues to add to its design-and-build portfolio.
The construction of the 287,859 square-foot, five-storey ramp-up warehouse facility will commence this third quarter. Following its target completion in first quarter 2017, CWT will have a staggered master lease on the warehouse to further support its logistics operations.
In addition, the Group will be able to capitalise on the warehouse location's close proximity to the Tuas Checkpoint, the future Tuas Link and Tuas West Road MRT Station, as well as a government-planned new container port in Tuas.
The construction project will be funded by progressive milestone claims and is not expected to have any material impact on CWT's earnings per share and net tangible assets per share for the current financial year ending 31 December 2015. None of the directors or controlling shareholders of CWT has any interest, direct or deemed, in the construction project.
Indeco is a leading engineering company in Singapore. The Company combines its engineering and construction project management capabilities with CWT's warehouse design expertise to deliver best-in-class design-and-build solutions which optimise logistics operations flow for eco-efficiency and productivity; provides cost-effective, comprehensive maintenance services for buildings and facilities, vehicles and equipment fleet for the military, government, institutional, commercial and industrial sectors; and helps customers upgrade, overhaul and replace existing installation to enhance operation efficiency and optimise life cycle costs.
About CWT
CWT is a leading provider of integrated logistics and supply chain solutions. Our business is about connecting world trade. We move, build and power customers' supply chain forward. We combine our logistics capabilities, global network and resources to add value for customers. CWT Group also provides commodity marketing, financial and engineering services ancillary to its core logistics business. For more information, visit www.cwtlimited.com.
For more information, contact:
| CWT Limited |
|
| Lynda GOH |
Johan LIM |
| Deputy Group CEO & Group CFO |
Senior Manager, Corporate Communications |
| Tel: +65-6307-8338 |
Tel: +65-6307-8018 |
| Fax: +65-6261-2373 |
Fax: +65-6261-2373 |
| Email: shlynda@cwtlimited.com |
Email: cbjohan@cwtlimited.com |
