Global Logistic Properties (GLP) has signed a strategic partnership framework agreement with Unicharm, a Japan-based leading manufacturer. The agreement outlines a strategic partnership in the development of logistics facilities for manufacturing bases of Unicharm in China. It starts with a Build-to-Suit (BTS) development agreement with Unicharm and Tianjin Xiqing Economic Development Area (XEDA), to...
Global Logistic Properties
Mainboard-listed Global Logistic Properties (GLP) said it has entered into a partnership with Vancl, one of the largest online apparel retailer in China. Under the deal, GLP said it will address Vancl's rapid growth and the need for logistic facilities. GLP will work with the online retailer on site selection, project planning, and logistics facility leasing on a nationwide basis. In a statement, Mr...
Global Logistic Properties (GLP) said its Japanese operations are back on, after being hit by the Japanese earthquake in March. It said its warehouse in Sendai, the epicentre of the earthquake, should be up and running by end of June. GLP said there will be high demand for modern logistic facilities once Japan begins rebuilding its supply chain networks. The Japanese earthquake in March caused minor...
Global Logistic Properties (GLP) posted a net profit of US$49.2 million for its fourth quarter ended March 2011. That is a 63 per cent drop from a year ago, when it posted a net profit of about US$133 million. GLP, a listed company which owns warehouses and other logistic assets in China and Japan, said its Japanese properties sustained minor damages from the Japanese earthquake, which contributed to...
Mainboard-listed Global Logistic Properties (GLP) is offering 3 billion yuan (S$567 million) in fixed rate notes under its newly established medium-term note programme, a move that boosts Singapore's role as an offshore centre for the Chinese currency. GLP said yesterday its first yuan-denominated note is an integral part of its plan to diversify its sources of funding. The company, which has logistics...
Shares of mainboard-listed Global Logistic Properties (GLP) closed 3.1 per cent higher at S$1.98 yesterday as concerns eased about its operations in disaster-struck Japan. The rally, on a volume of about 31 million shares, brought it roughly back to the pre-earthquake levels. Shares in GLP, which counts Japan as its largest market, had fallen to as low as S$1.74 following the killer quake and tsunami on...
Global Logistic Properties (GLP) will be joining the Straits Times Index (STI), the Singapore Exchange's (SGX) benchmark of the country's 30 biggest listed companies, replacing SMRT Corp. As part of the half-yearly review by Singapore Press Holdings (SPH), SGX, and the FTSE Group, SMRT will now join the FTSE Mid-Cap Index. The STI reserve list, comprising the 5 highest-ranking non-constituents in order...
Mainboard-listed Global Logistic Properties (GLP) is ramping up its logistics pipeline with a new US$200 million venture in Suzhou, China. GLP said it has partnered Suzhou New District Bonded Logistic Centre Development, to jointly develop the logistic park. Known as GLP Park SND, the park will service the logistics tenants in Suzhou. CEO of GLP, Ming Z. Mei, said this new venture would address the...
Global Logistic Properties (GLP) reported a turnaround in the third quarter from a loss a year ago, posting a net profit of US$82.1 million. A subsidiary of the Government of Singapore Investment Corp., which owns warehouses and other logistic assets mostly in China and Japan, it made a US$305.4 million loss in the corresponding quarter of last year. Revenue for the three months ended December 31, 2010...
Global Logistic Properties (GLP), which recently made two significant acquisitions in China, plans to expand further in China and Japan as well. Analysts, however, say that managing assets across two of Asia's largest markets could pose a management challenge. Shares in GLP closed almost one per cent higher yesterday, a day after the firm, partly owned by the Government of Singapore Investment Corp, said...