UPS builds Asian headquarter

UPS builds Asian headquarter

SINGAPORE (Dow Jones): United Parcel Service of America Inc. Thursday broke ground on a US$38 million Asia-Pacific headquarters in Singapore, a news release said.

The new facility, located near Singapore Changi Airport, will be completed in the second quarter of 2001, the statement said.

It will replace four facilities scattered across Singapore and will also house UPS affiliate UPS Worldwide Logistics.

Philip Yeo, chairman of Singapore's Economic Development Board, said the facility "will enhance Singapore's position as the leading logistics hub in Asia Pacific."