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BullsAndBear Veteran	26-Aug-2016 15:03        BullsAndBear About Contact  Quote this Post! Style: Combined   Mood: Yells: "I come at the turn of the tide "
x 0   x 0  Alert Admin	Well, what' s surprising for CS.. But I think they pick the wrong counter lah, beat dog also must see master leh.. Looks who' s behind GLP..
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FATABA Supreme	26-Aug-2016 14:59        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Interestng I was thinking on the same line as Qanghoo.....and wondering which of Credit S four risk points are new ? ( any chnage over last one year )  ​ certainy not surprise they are doing some hidden buying LOL Qanghoo      ( Date: 26-Aug-2016 14:54) Posted: Wah, even a lack of re-rating catalysts can be put forward as a reason for  assigning a low valuation on a stock, what else can we not bullsh*t?  Anyway, thx for this post, brother.  It' s alerting me to pay closer attention for buying opportunities .... sunview      ( Date: 26-Aug-2016 14:40) Posted: Credit Suisse has initiated an Underperform call with target price of  $1.65 While asset valuations are likely to be supported by cap rate compression given low rates, nearterm earnings risks, uncertainty over GLP' s strategic direction and a lack of rerating catalysts are likely to result in downside risks. ● The long-term case for growth in the Chinese logistics facilities market is well flagged however, the degree of undersupply of modern logistics is likely overestimated, with supply growth from major players alone > 40% in 2016, amid moderating demand. ● Given further signs of a slowdown, we believe either of occupancies or development starts (CS: 2.2 mn sq m in China vs guidance of 2.6 mn sq m) will likely disappoint. Our FY17 core PATMI estimate is 17% below consensus. ● Our S$1.65 TP, based on a 32% discount to RNAV (1 sd below historical average), implies a P/E of 26x, in line with the historical average. Aggressive buybacks have created some share price support, but we see little upside surprise through capital recycling. Rather than a rerating, a China income fund or China HoldCo IPO is likely to contribute to core earnings downside risks. Explosive supply a near-term concern While the long-term case for consumption-led growth in the Chinese logistics facilities market is well flagged, we see downside risks from a macroeconomic slowdown in the near term. From two facilities in Jun- 2015, new entrant Vanke has now amassed a total portfolio GFA of 1.25 mn sq m&mdash indicative of the mounting risks of oversupply in the near term. Market leader&hellip but does size matter? GLP has market-leading positions across its operating geographies of China, Japan, the US and Brazil. GLP' s dominant scale is supportive of critical success factors of: (1) access to land, (2) access to funding and (3) the ability to generate the " network effect" . Yet, barriers to entry appear surmountable, with GLP' s competitors being able to grow supply at a 27% CAGR over FY10-16, in line with GLP' s 29% CAGR, supported by sizeable liquidity-seeking logistics assets. Using JD.com, GLP' s second-largest customer in China, as a case in point, we estimate GLP only represented c.12% of its total area, with c.80% of JD.com' s requirements leased from other lessors. This despite GLP' s far larger scale of operations, with heightened risk of portfolio vacancy in the future, given customers' preference towards self-constructed warehouses. Downside risks to growth expectations Effective rents in FY16 have remained close to FY12 levels, despite steady same-property rent growth of c.5% in recent years. We believe this is due to GLP reporting its rents and lease ratios for stabilised properties only. In addition, the shift towards lower tier cities in China will continue to pose a drag on portfolio rents we estimate completed GFA in tier 1 cities declined from 49% in FY11 to 25% in FY16. Our FY17-19E core PATMI estimates are 3-17% below consensus. While valuations are undemanding, we believe it will take time for GLP to be vindicated, unless management is able to deliver on sustainable earnings and NAV growth. Meanwhile, we highlight headline earnings and PATMI ex-revaluations have remained largely flat since FY11, while NAV remains around c. US$1.80-1.90 levels since FY13. Key risks to our view are: (1) currency fluctuations in the key geographies of China and Japan as GLP' s accounts are quoted in USD (2) global economic growth (3) pace of supply growth and (4) regulatory risks which may impact access to land and capital.
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Qanghoo Supreme	26-Aug-2016 14:54        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wah, even a lack of re-rating catalysts can be put forward as a reason for  assigning a low valuation on a stock, what else can we not bullsh*t?  Anyway, thx for this post, brother.  It' s alerting me to pay closer attention for buying opportunities .... sunview      ( Date: 26-Aug-2016 14:40) Posted: Credit Suisse has initiated an Underperform call with target price of  $1.65 While asset valuations are likely to be supported by cap rate compression given low rates, nearterm earnings risks, uncertainty over GLP' s strategic direction and a lack of rerating catalysts are likely to result in downside risks. ● The long-term case for growth in the Chinese logistics facilities market is well flagged however, the degree of undersupply of modern logistics is likely overestimated, with supply growth from major players alone > 40% in 2016, amid moderating demand. ● Given further signs of a slowdown, we believe either of occupancies or development starts (CS: 2.2 mn sq m in China vs guidance of 2.6 mn sq m) will likely disappoint. Our FY17 core PATMI estimate is 17% below consensus. ● Our S$1.65 TP, based on a 32% discount to RNAV (1 sd below historical average), implies a P/E of 26x, in line with the historical average. Aggressive buybacks have created some share price support, but we see little upside surprise through capital recycling. Rather than a rerating, a China income fund or China HoldCo IPO is likely to contribute to core earnings downside risks. Explosive supply a near-term concern While the long-term case for consumption-led growth in the Chinese logistics facilities market is well flagged, we see downside risks from a macroeconomic slowdown in the near term. From two facilities in Jun- 2015, new entrant Vanke has now amassed a total portfolio GFA of 1.25 mn sq m&mdash indicative of the mounting risks of oversupply in the near term. Market leader&hellip but does size matter? GLP has market-leading positions across its operating geographies of China, Japan, the US and Brazil. GLP' s dominant scale is supportive of critical success factors of: (1) access to land, (2) access to funding and (3) the ability to generate the " network effect" . Yet, barriers to entry appear surmountable, with GLP' s competitors being able to grow supply at a 27% CAGR over FY10-16, in line with GLP' s 29% CAGR, supported by sizeable liquidity-seeking logistics assets. Using JD.com, GLP' s second-largest customer in China, as a case in point, we estimate GLP only represented c.12% of its total area, with c.80% of JD.com' s requirements leased from other lessors. This despite GLP' s far larger scale of operations, with heightened risk of portfolio vacancy in the future, given customers' preference towards self-constructed warehouses. Downside risks to growth expectations Effective rents in FY16 have remained close to FY12 levels, despite steady same-property rent growth of c.5% in recent years. We believe this is due to GLP reporting its rents and lease ratios for stabilised properties only. In addition, the shift towards lower tier cities in China will continue to pose a drag on portfolio rents we estimate completed GFA in tier 1 cities declined from 49% in FY11 to 25% in FY16. Our FY17-19E core PATMI estimates are 3-17% below consensus. While valuations are undemanding, we believe it will take time for GLP to be vindicated, unless management is able to deliver on sustainable earnings and NAV growth. Meanwhile, we highlight headline earnings and PATMI ex-revaluations have remained largely flat since FY11, while NAV remains around c. US$1.80-1.90 levels since FY13. Key risks to our view are: (1) currency fluctuations in the key geographies of China and Japan as GLP' s accounts are quoted in USD (2) global economic growth (3) pace of supply growth and (4) regulatory risks which may impact access to land and capital.
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sunview Veteran	26-Aug-2016 14:40        sunview About Contact  Quote this Post!
x 0   x 0  Alert Admin	Credit Suisse has initiated an Underperform call with target price of  $1.65 While asset valuations are likely to be supported by cap rate compression given low rates, nearterm earnings risks, uncertainty over GLP' s strategic direction and a lack of rerating catalysts are likely to result in downside risks. ● The long-term case for growth in the Chinese logistics facilities market is well flagged however, the degree of undersupply of modern logistics is likely overestimated, with supply growth from major players alone > 40% in 2016, amid moderating demand. ● Given further signs of a slowdown, we believe either of occupancies or development starts (CS: 2.2 mn sq m in China vs guidance of 2.6 mn sq m) will likely disappoint. Our FY17 core PATMI estimate is 17% below consensus. ● Our S$1.65 TP, based on a 32% discount to RNAV (1 sd below historical average), implies a P/E of 26x, in line with the historical average. Aggressive buybacks have created some share price support, but we see little upside surprise through capital recycling. Rather than a rerating, a China income fund or China HoldCo IPO is likely to contribute to core earnings downside risks. Explosive supply a near-term concern While the long-term case for consumption-led growth in the Chinese logistics facilities market is well flagged, we see downside risks from a macroeconomic slowdown in the near term. From two facilities in Jun- 2015, new entrant Vanke has now amassed a total portfolio GFA of 1.25 mn sq m&mdash indicative of the mounting risks of oversupply in the near term. Market leader&hellip but does size matter? GLP has market-leading positions across its operating geographies of China, Japan, the US and Brazil. GLP' s dominant scale is supportive of critical success factors of: (1) access to land, (2) access to funding and (3) the ability to generate the " network effect" . Yet, barriers to entry appear surmountable, with GLP' s competitors being able to grow supply at a 27% CAGR over FY10-16, in line with GLP' s 29% CAGR, supported by sizeable liquidity-seeking logistics assets. Using JD.com, GLP' s second-largest customer in China, as a case in point, we estimate GLP only represented c.12% of its total area, with c.80% of JD.com' s requirements leased from other lessors. This despite GLP' s far larger scale of operations, with heightened risk of portfolio vacancy in the future, given customers' preference towards self-constructed warehouses. Downside risks to growth expectations Effective rents in FY16 have remained close to FY12 levels, despite steady same-property rent growth of c.5% in recent years. We believe this is due to GLP reporting its rents and lease ratios for stabilised properties only. In addition, the shift towards lower tier cities in China will continue to pose a drag on portfolio rents we estimate completed GFA in tier 1 cities declined from 49% in FY11 to 25% in FY16. Our FY17-19E core PATMI estimates are 3-17% below consensus. While valuations are undemanding, we believe it will take time for GLP to be vindicated, unless management is able to deliver on sustainable earnings and NAV growth. Meanwhile, we highlight headline earnings and PATMI ex-revaluations have remained largely flat since FY11, while NAV remains around c. US$1.80-1.90 levels since FY13. Key risks to our view are: (1) currency fluctuations in the key geographies of China and Japan as GLP' s accounts are quoted in USD (2) global economic growth (3) pace of supply growth and (4) regulatory risks which may impact access to land and capital.
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BullsAndBear Veteran	26-Aug-2016 14:07        BullsAndBear About Contact  Quote this Post! Style: Combined   Mood: Yells: "I come at the turn of the tide "
x 0   x 0  Alert Admin	Left hand to right hand, stack stack stack.. lol!. Cha keow teow.. Too common in SG market.. hahaha! bishan22      ( Date: 25-Aug-2016 22:46) Posted: What happen??? today sampai tua.....
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bishan22 Supreme	25-Aug-2016 22:46        bishan22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	What happen??? today sampai tua.....
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hapygolucke Master	19-Aug-2016 08:38        hapygolucke About Contact  Quote this Post!
x 0   x 0  Alert Admin	Shanghai, 18 August 2016 &ndash GLP, the leading global provider of modern logistics facilities, has signed a strategic cooperation framework agreement with China International Marine Containers (Group) Co., Ltd. (&ldquo CIMC&rdquo ), a leading China-domiciled company specializing in providing modern transportation equipment and services. Under the strategic partnership, GLP and CIMC will work together to develop integrated logistics facilities and solutions. GLP may also assist CIMC in planning, re-developing and managing their existing logistics facilities.
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hapygolucke Master	18-Aug-2016 16:28        hapygolucke About Contact  Quote this Post!
x 0   x 0  Alert Admin	q @1.89 to buy....... hapygolucke      ( Date: 18-Aug-2016 00:41) Posted: tried a few times breaking 1.9....cant go down the other way is up and break 2.. loaded up today @1.91.....
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hapygolucke Master	18-Aug-2016 00:41        hapygolucke About Contact  Quote this Post!
x 0   x 0  Alert Admin	tried a few times breaking 1.9....cant go down the other way is up and break 2.. loaded up today @1.91.....
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aputako Member	17-Aug-2016 12:27        aputako About Contact  Quote this Post!
x 0   x 0  Alert Admin	Good to collect?
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earlybird14 Supreme	17-Aug-2016 08:53        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	GLP are just REITs service provider instead of REITs. I think when market turn good and is able to find investor, they will set up another REITs for us warehouse but for time being, everyone know they bought us warehouse in expensive price and relatively low return, very hard for them to push for REITs, can only stay with them for the time being. See if GLP is lucky enough if the U.S. Warehouse can be expanded, otherwise, this may become their very bad purchase. sun233      ( Date: 17-Aug-2016 07:02) Posted: Thanks EB. U may be right. I read some news about it. Happy Trading. earlybird14      ( Date: 16-Aug-2016 21:20) Posted: i think they are funding for US warehouse which are not taken by China investment firm. Continue to cover the 2-3bil hole
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FATABA Supreme	17-Aug-2016 08:52        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Whatever, its a good move by GLP....a profit of 130M for next qtr.  Extra capital for half year result :) sun233      ( Date: 17-Aug-2016 07:02) Posted: Thanks EB. U may be right. I read some news about it. Happy Trading. earlybird14      ( Date: 16-Aug-2016 21:20) Posted: i think they are funding for US warehouse which are not taken by China investment firm. Continue to cover the 2-3bil hole
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sun233 Elite	17-Aug-2016 07:02        sun233 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks EB. U may be right. I read some news about it. Happy Trading. earlybird14      ( Date: 16-Aug-2016 21:20) Posted: i think they are funding for US warehouse which are not taken by China investment firm. Continue to cover the 2-3bil hole. sun233      ( Date: 16-Aug-2016 21:02) Posted: Thanks for post. Should have been positive for stock but wonder what happened............ MAINBOARD-LISTED GLP, global provider of modern logistics facilities, will sell four properties in Japan to GLP J-Reit (real estate investment trust) for 42.7 billion yen (S$571 million). The sale price is 3 per cent higher than latest appraisal values and equates to a weighted average cap rate of 4.8 per cent, the company on Tuesday said in a filing to the Singapore Exchange (SGX). This transaction follows the sale of GLP' s 50 per cent stake of GLP・ MFLP Ichikawa Shiohama to GLP J-Reit announced in June 2016. GLP expects to realise US$130 million of cash profit from these dispositions upon completion in September 2016. This includes the crystallisation of US$100 million of development profit (GLP share, pre-tax) from three development projects - GLP Atsugi II, GLP Yoshimi and GLP・ MFLP Ichikawa Shiohama - which are 100 per cent leased and generated a development profit margin of 44 per cent.
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earlybird14 Supreme	16-Aug-2016 21:20        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	i think they are funding for US warehouse which are not taken by China investment firm. Continue to cover the 2-3bil hole. sun233      ( Date: 16-Aug-2016 21:02) Posted: Thanks for post. Should have been positive for stock but wonder what happened............ MAINBOARD-LISTED GLP, global provider of modern logistics facilities, will sell four properties in Japan to GLP J-Reit (real estate investment trust) for 42.7 billion yen (S$571 million). The sale price is 3 per cent higher than latest appraisal values and equates to a weighted average cap rate of 4.8 per cent, the company on Tuesday said in a filing to the Singapore Exchange (SGX). This transaction follows the sale of GLP' s 50 per cent stake of GLP・ MFLP Ichikawa Shiohama to GLP J-Reit announced in June 2016. GLP expects to realise US$130 million of cash profit from these dispositions upon completion in September 2016. This includes the crystallisation of US$100 million of development profit (GLP share, pre-tax) from three development projects - GLP Atsugi II, GLP Yoshimi and GLP・ MFLP Ichikawa Shiohama - which are 100 per cent leased and generated a development profit margin of 44 per cent. waters      ( Date: 16-Aug-2016 17:16) Posted: Title: NEWS RELEASE - GLP CONTINUES CAPITAL RECYCLING STRATEGY WITH FURTHER ASSET SALES TO GLP J-REIT Date: 16 August 2016 For a complete listing of our news releases, please  click here - GLP to sell four Japan properties to GLP J-REIT for JPY42.7bn (US$420m) - Transaction expected to be completed in September 2016 - GLP to realize cash profit of US$130 million from Japan asset sales YTD Tokyo, 16 August 2016 - GLP, the leading global provider of modern logistics facilities, will sell four properties in Japan to GLP J-REIT for JPY42.7 billion (US$420 million ). The sale price is 3% higher than latest appraisal values and equates to a weighted average cap rate of 4.8%.  This transaction follows the sale of GLP' s 50% share of GLP· MFLP Ichikawa Shiohama to GLP J-REIT announced in June 2016. GLP expects to realize US$130 million of cash profit from these dispositions upon completion in September 2016. This includes the crystallization of US$100 million of development profit (GLP share, pre-tax) from three development projects - GLP Atsugi II, GLP Yoshimi and GLP· MFLP Ichikawa Shiohama - which are 100% leased and generated a development profit margin of 44%. Mr. Ming Z. Mei, Chief Executive Officer of GLP, said: " This transaction demonstrates how GLP is able to leverage its fund management platform to unlock value and generate the best possible returns. Looking ahead, we will continue our capital recycling strategy to achieve dual aims of crystallizing development profit and growing fund management AUM to generate higher recurring income from management fees." The dispositions of these five assets generated a net levered property IRR of 27% (before fees and promotes). Net sale proceeds for GLP are estimated to be approximately JPY26 billion (US$254 million), which GLP plans to reinvest into development in Japan.  China and Japan represent the most attractive markets for development. GLP will deploy the majority of its capital to these two markets while focusing on being the best operator. GLP' s US$37 billion fund management platform provides a recurring source of income that is growing consistently every year. It is also one of GLP' s main sources of capital to fund growth. GLP will continue exercising strong financial discipline including leveraging the fund management platform for strategic expansion. GLP J-REIT, listed on the Tokyo Stock Exchange in December 2012, is a real estate investment trust focused on operating logistics properties in Japan. GLP is the property and asset manager of the J-REIT. GLP J-REIT has the right of first look on a further 17 properties (US$2.0 billion) wholly owned by GLP.  About GLP (www.glprop.com)  GLP is a fund manager, developer and owner-operator of modern logistics facilities. As of 30 June 2016, GLP owns and operates a global portfolio of 52 million square meters (560 million square feet) that caters primarily to domestic consumption. GLP' s 4,000 customers include some of the world' s most dynamic manufacturers, retailers and third party logistics companies. GLP' s US$37 billion fund management platform is a key area of growth going forward. GLP is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI Reuters ticker: GLPL.SI Bloomberg ticker: GLP SP). GLP Investor Relations & Media Contact: Ambika Goel, CFA SVP- Capital Markets and Investor Relations  Tel: +65 6643 6372 Email: [email protected] ## END ##
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sun233 Elite	16-Aug-2016 21:02        sun233 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks for post. Should have been positive for stock but wonder what happened............ MAINBOARD-LISTED GLP, global provider of modern logistics facilities, will sell four properties in Japan to GLP J-Reit (real estate investment trust) for 42.7 billion yen (S$571 million). The sale price is 3 per cent higher than latest appraisal values and equates to a weighted average cap rate of 4.8 per cent, the company on Tuesday said in a filing to the Singapore Exchange (SGX). This transaction follows the sale of GLP' s 50 per cent stake of GLP・ MFLP Ichikawa Shiohama to GLP J-Reit announced in June 2016. GLP expects to realise US$130 million of cash profit from these dispositions upon completion in September 2016. This includes the crystallisation of US$100 million of development profit (GLP share, pre-tax) from three development projects - GLP Atsugi II, GLP Yoshimi and GLP・ MFLP Ichikawa Shiohama - which are 100 per cent leased and generated a development profit margin of 44 per cent. waters      ( Date: 16-Aug-2016 17:16) Posted: Title: NEWS RELEASE - GLP CONTINUES CAPITAL RECYCLING STRATEGY WITH FURTHER ASSET SALES TO GLP J-REIT Date: 16 August 2016 For a complete listing of our news releases, please  click here - GLP to sell four Japan properties to GLP J-REIT for JPY42.7bn (US$420m) - Transaction expected to be completed in September 2016 - GLP to realize cash profit of US$130 million from Japan asset sales YTD Tokyo, 16 August 2016 - GLP, the leading global provider of modern logistics facilities, will sell four properties in Japan to GLP J-REIT for JPY42.7 billion (US$420 million ). The sale price is 3% higher than latest appraisal values and equates to a weighted average cap rate of 4.8%.  This transaction follows the sale of GLP' s 50% share of GLP· MFLP Ichikawa Shiohama to GLP J-REIT announced in June 2016. GLP expects to realize US$130 million of cash profit from these dispositions upon completion in September 2016. This includes the crystallization of US$100 million of development profit (GLP share, pre-tax) from three development projects - GLP Atsugi II, GLP Yoshimi and GLP· MFLP Ichikawa Shiohama - which are 100% leased and generated a development profit margin of 44%. Mr. Ming Z. Mei, Chief Executive Officer of GLP, said: " This transaction demonstrates how GLP is able to leverage its fund management platform to unlock value and generate the best possible returns. Looking ahead, we will continue our capital recycling strategy to achieve dual aims of crystallizing development profit and growing fund management AUM to generate higher recurring income from management fees." The dispositions of these five assets generated a net levered property IRR of 27% (before fees and promotes). Net sale proceeds for GLP are estimated to be approximately JPY26 billion (US$254 million), which GLP plans to reinvest into development in Japan.  China and Japan represent the most attractive markets for development. GLP will deploy the majority of its capital to these two markets while focusing on being the best operator. GLP' s US$37 billion fund management platform provides a recurring source of income that is growing consistently every year. It is also one of GLP' s main sources of capital to fund growth. GLP will continue exercising strong financial discipline including leveraging the fund management platform for strategic expansion. GLP J-REIT, listed on the Tokyo Stock Exchange in December 2012, is a real estate investment trust focused on operating logistics properties in Japan. GLP is the property and asset manager of the J-REIT. GLP J-REIT has the right of first look on a further 17 properties (US$2.0 billion) wholly owned by GLP.  About GLP (www.glprop.com)  GLP is a fund manager, developer and owner-operator of modern logistics facilities. As of 30 June 2016, GLP owns and operates a global portfolio of 52 million square meters (560 million square feet) that caters primarily to domestic consumption. GLP' s 4,000 customers include some of the world' s most dynamic manufacturers, retailers and third party logistics companies. GLP' s US$37 billion fund management platform is a key area of growth going forward. GLP is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI Reuters ticker: GLPL.SI Bloomberg ticker: GLP SP). GLP Investor Relations & Media Contact: Ambika Goel, CFA SVP- Capital Markets and Investor Relations  Tel: +65 6643 6372 Email: [email protected] ## END ##
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waters Senior	16-Aug-2016 17:16        waters About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	Title: NEWS RELEASE - GLP CONTINUES CAPITAL RECYCLING STRATEGY WITH FURTHER ASSET SALES TO GLP J-REIT Date: 16 August 2016 For a complete listing of our news releases, please  click here - GLP to sell four Japan properties to GLP J-REIT for JPY42.7bn (US$420m) - Transaction expected to be completed in September 2016 - GLP to realize cash profit of US$130 million from Japan asset sales YTD Tokyo, 16 August 2016 - GLP, the leading global provider of modern logistics facilities, will sell four properties in Japan to GLP J-REIT for JPY42.7 billion (US$420 million ). The sale price is 3% higher than latest appraisal values and equates to a weighted average cap rate of 4.8%.  This transaction follows the sale of GLP' s 50% share of GLP· MFLP Ichikawa Shiohama to GLP J-REIT announced in June 2016. GLP expects to realize US$130 million of cash profit from these dispositions upon completion in September 2016. This includes the crystallization of US$100 million of development profit (GLP share, pre-tax) from three development projects - GLP Atsugi II, GLP Yoshimi and GLP· MFLP Ichikawa Shiohama - which are 100% leased and generated a development profit margin of 44%. Mr. Ming Z. Mei, Chief Executive Officer of GLP, said: " This transaction demonstrates how GLP is able to leverage its fund management platform to unlock value and generate the best possible returns. Looking ahead, we will continue our capital recycling strategy to achieve dual aims of crystallizing development profit and growing fund management AUM to generate higher recurring income from management fees." The dispositions of these five assets generated a net levered property IRR of 27% (before fees and promotes). Net sale proceeds for GLP are estimated to be approximately JPY26 billion (US$254 million), which GLP plans to reinvest into development in Japan.  China and Japan represent the most attractive markets for development. GLP will deploy the majority of its capital to these two markets while focusing on being the best operator. GLP' s US$37 billion fund management platform provides a recurring source of income that is growing consistently every year. It is also one of GLP' s main sources of capital to fund growth. GLP will continue exercising strong financial discipline including leveraging the fund management platform for strategic expansion. GLP J-REIT, listed on the Tokyo Stock Exchange in December 2012, is a real estate investment trust focused on operating logistics properties in Japan. GLP is the property and asset manager of the J-REIT. GLP J-REIT has the right of first look on a further 17 properties (US$2.0 billion) wholly owned by GLP.  About GLP (www.glprop.com)  GLP is a fund manager, developer and owner-operator of modern logistics facilities. As of 30 June 2016, GLP owns and operates a global portfolio of 52 million square meters (560 million square feet) that caters primarily to domestic consumption. GLP' s 4,000 customers include some of the world' s most dynamic manufacturers, retailers and third party logistics companies. GLP' s US$37 billion fund management platform is a key area of growth going forward. GLP is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI Reuters ticker: GLPL.SI Bloomberg ticker: GLP SP). GLP Investor Relations & Media Contact: Ambika Goel, CFA SVP- Capital Markets and Investor Relations  Tel: +65 6643 6372 Email: [email protected] ## END ##
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InvestorB Member	12-Aug-2016 14:53        InvestorB About Contact  Quote this Post!
x 0   x 0  Alert Admin	Will it beat $2 by the end of monday?
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sun233 Elite	12-Aug-2016 10:55        sun233 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Traditionally reits do badly when stock market is in risk on mode. Results were okay but bad loans are rising which indicates that China is in trouble. At least in the near term. It is also reported that China govt has started bailing out banks.   FATABA      ( Date: 12-Aug-2016 10:45) Posted: Yes same observation.  Was push up to 1.96/7 and then push down this 2 days ...esp when its result is fair and ok.  ​ Hope it will test $2 ...after they ? have accumulated. Qanghoo      ( Date: 12-Aug-2016 10:25) Posted: Traditional ang moh ritual - compress px after every qtr result.  Seems the case to me.
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FATABA Supreme	12-Aug-2016 10:45        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Yes same observation.  Was push up to 1.96/7 and then push down this 2 days ...esp when its result is fair and ok.  ​ Hope it will test $2 ...after they ? have accumulated. Qanghoo      ( Date: 12-Aug-2016 10:25) Posted: Traditional ang moh ritual - compress px after every qtr result.  Seems the case to me.  FATABA      ( Date: 12-Aug-2016 08:35) Posted: A good first qtr result from GLP .....hope it cross $2 soon.
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Qanghoo Supreme	12-Aug-2016 10:25        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Traditional ang moh ritual - compress px after every qtr result.  Seems the case to me.  FATABA      ( Date: 12-Aug-2016 08:35) Posted: A good first qtr result from GLP .....hope it cross $2 soon.
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