Asia's largest logistic facilities provider Global Logistic Properties (GLP) is leasing most of its warehouses in China to domestically driven consumer industries. Barring a global recession, GLP is confident the China market will help drive its growth and take up a larger share of its portfolio. Online retail sales in China have doubled every year for the last five years, benefiting e-commerce...
Global Logistic Properties
Global Logistic Properties, a unit of the Government of Singapore Investment Corp, is preparing an initial public offering of its Japanese warehouse assets that may raise about S$1.25 billion, said three sources with knowledge of the matter. The company, known as GLP, may list the real estate investment trust in Tokyo by the middle of the year, said sources of the people, who declined to be identified as...
Global Logistic Properties (GLP) says its third quarter net profit rose 3.4 per cent year-on-year to US$86.3 million. This was boosted by higher revenue contribution from its new properties in China. Revenue for the quarter ended Dec 31 rose 18.8 percent to US$144.7 million from the previous year. GLP, which own properties in China and Japan, says in a statement that its revenue from China properties...
Global Logistic Properties (GLP) said the construction of its 79,023 square-metre large-scale multi-tenant logistics facility in Soja city, Japan will start in June this year and finish by February 2013. The project costs around USD$103 million, GLP said in a news release. It is the second under the Japan Development Fund - GLP's joint venture with the Canada Pension Plan Investment Board (CPPIB)...
Mainboard-listed Global Logistic Properties Limited (GLP) has formed an equal joint venture with sovereign wealth fund China Investment Corporation (CIC) to acquire 15 modern logistics facilities in Japan. The deal, worth 122.6 billion yen or US$1.6 billion, is believed to be one of the biggest-ever property deals in Japan. The properties, with a total gross floor area (GFA) of 770,989 square metres,...
Singapore-listed Global Logistic Properties (GLP), which manages logistics facilities in China and Japan, has priced a S$500 million perpetual bond issue at a 5.50 per cent coupon, according to a term sheet seen by Dow Jones Newswires yesterday. The bond was priced at 420 basis points above the Singapore offer rate. JP Morgan Chase was the global coordinator and bookrunner. Citigroup, DBS and Goldman...
Global Logistic Properties (GLP) has mandated banks to manage a proposed offering of Singapore dollar-denominated perpetual capital securities, the company said in a statement on Friday. The property group has appointed JP Morgan as global coordinator, while JP Morgan, Citigroup, Goldman Sachs, and DBS Bank will be joint bookrunners and joint lead managers, GLP said. Fitch Ratings has assigned an...
Global Logistic Properties yesterday said its second-quarter net profit more than doubled from the corresponding period a year earlier due to higher contributions from its China operations and currency conversion gains. Net profit was US$200.7 million (S$258.9 million) in the three months ended Sept 30, compared with US$85.4 million a year earlier, the provider of logistics facilities in China and Japan...
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...
Global Logistic Properties (GLP), a subsidiary of the Government of Singapore Investment Corp, is planning to raise at least ¥100 billion (S$1.6 billion) in an initial public offering of its Japanese assets by the end of this year, three people with direct knowledge of the matter said. GLP has hired Citigroup, Goldman Sachs and Nomura Holdings as the main underwriters for the IPO, which would be the...