Global Logistic Properties incorporates six subsidiaries

It also bought a logistics company for $27.9m.

Global Logistic Properties (GLP) incorporated six new subsidiaries in England, Singapore, and China.

It said in an announcement that its three new companies in England, namely, GLP UK Management Limited, Pearl Income Holdings UK Limited, and Pearl Income Investments II UK Limited, will focus on investment holding.

Another firm, Monoful Pte Ltd, was incorporated in Singapore. It will focus on information services for logistic services.

GLP also incorporated two companies in China. Wuxi Puhui Warehousing Logistics Co Ltd and Chongqing Pupei Warehousing Services Co Ltd will provide logistics services.

GLP also bought an indirect subsidiary, Kunshan Huaqing Furniture Co Ltd (Kunshan Huaqing) for $27.9m (CNY136.48m).

As at 31 August 2017, the book value of Kunshan Huaqing was negative $28.36m (CNY13.87m).