Australia's Cromwell Property rises on expanding Australian industrial portfolio

About this update from Straits Trading Co. Ltd.

** Shares of Cromwell Property Group ASX:CMW rise 1.7% to A$0.463, heading for their best day since October 22, if gains hold** Co to buy 19.9% stake in Straits Real Estate's Australian industrial portfolio for A$47.6 million ($30.93 million)** Co to also buy the portfolio's existing management platform for initial A$2.0 million** The portfolio of Straits Real Estate, a unit of Singapore's Straits Trading SGX:S20, comprises seven industrial assets located across Victoria and South Australia** Stock up ~21% this year, including the day's move($1 = 1.5389 Australian dollars)

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