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Singamas says some container depots in Tianjin hit by blast

Singamas says some container depots in Tianjin hit by blast
Container maker and logistics player Singamas Container Holdings, which has facilities throughout China, announced that it believes some of its container depots operated by its Singamas Logistics (Tianjin) (SLTC) unit, were damaged in the explosions at Tianjin Port last week, while one its employees has been uncontactable and a few other workers suffered minor injuries.

Singamas noted that the explosions occurred approximately 800 meters from one of its depots at 197, Ji Yun Yi Dao, Tianjin Port Container Logistics Center, with an external depot operated by SLTC is siturated even closer to the area where the incident took place.

"Based on the information available as of the date of this announcement, the board believes that the depots of SLTC were damaged by the incident," Singamas said in a stock market announcement.

Meanwhile, Singamas' factory in Tianjin is unaffected by the huges explosions. Due to restricted access into the area for safety reasons, the group has not been able to estimate SLTC’s exact losses resulting from theiIncident. However, SLTC's turnover only accounts for a small portion of the group's total turnover, Singamas added and said it does not believe will have a material adverse impact on the group as a whole.