Global Logistic Properties (GLP) has acquired Hallmark International Investment Limited for a consideration of approximately $121.64 million (S$165.7 million) through an indirect subsidiary, CLF2 Singapore Pte. Ltd.
Hallmark owns 100 per cent of Kunshan Huacheng Weaving & Dyeing Co., Ltd, which manufactures and sells fabric-related products. Hallmark is incorporated in the British Virgin Islands and possesses a paid-up capital of $34.8 million. Kunshan Huacheng is also incorporated in the same jurisdiction with a paid-up capital of $41.7 million.