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GLP unit sets up China subsidiary; another unit raises stake in JV

PC Lee Published on Mon, Mar 20, 2017 / 10:17 PM GMT+8

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SINGAPORE (March 20): Global Logistic Properties the provider of modern logistics facilities in China, Japan and Brazil, has set up a new subsidiary in Chongqing as well as increased its stake in a Tianjin JV.

In a Monday night filing, GLP announced that indirect subsidiary GLP Capital Holdings (Chongqing) has incorporated a wholly-owned subsidiary known as GLP Financial Lease (Chongqing) Co. with a registered capital of RMB500 million ($101.2 million).

The principal business activities of the new subsidiary are financing and leasing business and advisory.

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GLP unit sets up China subsidiary; another unit raises stake in JV