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."