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