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Shares of Singapore logistics firm Freight Links Express <FLEH.SI> rose 6.7% to $0.08 on Tuesday after it said it will enter into a sale and leaseback agreement for five properties worth $192.95 million.
Over 28.7 million shares had changed hands by 0141 GMT.
Over 28.7 million shares had changed hands by 0141 GMT.
Freight Links said it will sell and lease back five properties from Sabana Investment Partners which plans to float a shariah compliant real estate industrial trust before the end of the year.
"The price at which Freight Links is selling its properties to Sabana is higher than its book value. Prospects for the firm also seem good as the logistic sector is doing pretty well with improving Asian trade," said a local trader.
