GLP says no decision on Japan investment firm

Global Logistic Properties (GLP), a subsidiary of the Government of Singapore Investment Corp, said yesterday that it has not made any decision on the setting up of a real estate investment firm in Japan.

The statement follows media reports last week that GLP is considering a listing of its Japanese assets through a real estate investment trust in an initial public offering in Japan that could raise at least ¥100 billion (S$1.6 billion).

GLP said it constantly reviews initiatives to strengthen its market position in China and Japan.

This includes the potential creation of “a real estate investment corporation in Japan comprising certain of the company’s Japan assets”. But GLP also said that it “has not made any decisions whether or not to pursue any of these initiatives”.

GLP shares closed down 3.15 per cent to S$1.69 yesterday.

Source : Today – 13 Sep 2011

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