SGX:R14

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Eneco Energy to Acquire Singapore Warehouse for SG$24 Million

Eneco Energy's (SGX:R14) subsidiary, RichLand Global, agreed to acquire an industrial property in Singapore for SG$24.2 million, according to a Friday filing with the Singapore Exchange.The property comprises a three-story ramp-up warehouse and a workers' dormitory, covering an area of around 26,420.The property is being acquired from a trustee of ESR-REIT, and will be funded through internal resources and bank borrowings.The acquisition will allow the logistics service provider's unit to consolidate its storage and operations under a single facility.

SGX:R14

Asia115d ago

Eneco Energy Forecasts Minimal Financial Impact from Rising Energy Costs

Eneco Energy (SGX:R14) expects minimal financial impact from rising fuel costs, since costs are passed through to customers under existing contractual arrangements tied to pre-determined fuel prices.The renewable energy and logistics company is also looking to expand its Richland Logistics Services with a target to increase the fleet size of its electric vehicles.Meanwhile, the company reported a rise in airborne trade volumes due to time-sensitive logistics needs.

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