Global Logistic Properties (GLP)

[Nick]

CHANGE IN CAPITAL :: PLACEMENT :: PROPOSED PLACEMENT OF 160,000,000 NEW ORDINARY SHARES


poof. 5% dilution. more to come?

Depends on this JV will work out -



GLP EXPANDS GLOBAL PLATFORM TO BRAZIL; ESTABLISHES MARKET LEADING PRESENCE WITH SIGNIFICANT GROWTH OPPORTUNITIES

 Focus on the best markets: GLP partners with CPPIB, CIC and GIC in two joint ventures to acquire best-in-class platform in Brazil for total initial consideration of US$1.45 billion
 Expands fund management platform: AUM will almost triple to US$7.2 billion, with significant growth in recurring fee income
 GLP will act as asset manager of the two joint ventures, with an experienced 40-person team on the ground
 GLP’s investment in the portfolios will generate a levered IRR of over 18%2 with fees and promotes providing further upside
 GLP intends to fund part or all of its initial equity commitment of US$3341 million with a private equity placement

(Not Vested)

[investingsgx]

GLOBAL LOGISTIC PROPERTIES TO INVEST US$82 MILLION IN
ROOFTOP SOLAR PANELS IN JAPAN
-GLP will install solar panels on the rooftops of 22 properties in Japan and sell the electricity generated to utility companies
-US$82 million investment will generate a levered IRR of approximately 17%,
creating a new revenue stream for GLP
-Solar panels are expected to generate electricity equivalent to the annual
consumption of approximately 5,300 households

Source: http://info.sgx.com/webcoranncatth.nsf/V...A00277CAE/$file/GLP_Announcement_21012013.pdf?openelement

[investingsgx]

VOLUNTARY LIQUIDATION OF
INDIRECT WHOLLY-OWNED SUBSIDIARIES
Global Logistic Properties Limited (the “Company”) wishes to announce that the Company has placed
the following dormant indirect wholly-owned subsidiaries incorporated in Barbados (the “Subsidiaries”),
in members’ voluntary liquidation:
(1) China Logistics Holding L SRL
(2) China Logistics Holding LIX SRL
(3) China Logistics Holding LVI SRL
(4) China Logistics Holding LVII SRL
(5) China Logistics Holding LVIII SRL
(6) China Logistics Holding LXIV SRL
(7) China Logistics Holding LXV SRL
(8) China Logistics Holding XLIX SRL
(9) China Logistics Holding XX SRL
(10) China Logistics Holding XXXIX SRL
The voluntary liquidation of the Subsidiaries is not expected to have any material impact on the net
tangible assets or earnings per share of the Company for the financial year ending 31 March 2013.
None of the directors or the controlling shareholders of the Company has any interest, direct or indirect,
in the voluntary liquidation of the Subsidiaries.

Source: http://info.sgx.com/webcoranncatth.nsf/V...C002E7E0E/$file/23012013_GLP_Liquidation_Barbados_entities.pdf?openelement

What do they mean by liquidation. Does it mean that they are selling off these assets?

[Nick]

S'pore wealth fund GIC cuts GLP stake in US$1.25b sale

Published February 26, 2013

SINGAPORE - Singapore sovereign wealth fund GIC cut its stake in warehouse operator Global Logistic Properties (GLP) by about a quarter, selling around 596 million GLP shares at S$2.60 each, according to a term sheet seen by Reuters.

The sale, which raised about $1.25 billion, was at the bottom of a S$2.60-$2.66 per share indicative range. GLP closed at S$2.75 on Monday.

The Government of Singapore Investment Corp (GIC) said in a statement on Tuesday that the sale was part of the sovereign fund's "regular rebalancing activities for its overall portfolio" and that it remained a substantial long-term shareholder.

"We are pleased with the company's execution of its strategies and are confident of its long-term prospects," GIC added.

http://www.businesstimes.com.sg/breaking...e-20130226 [Article]

(Not Vested)

[investingsgx]

S'pore wealth fund GIC cuts GLP stake in US$1.25b sale

Published February 26, 2013

SINGAPORE - Singapore sovereign wealth fund GIC cut its stake in warehouse operator Global Logistic Properties (GLP) by about a quarter, selling around 596 million GLP shares at S$2.60 each, according to a term sheet seen by Reuters.

The sale, which raised about $1.25 billion, was at the bottom of a S$2.60-$2.66 per share indicative range. GLP closed at S$2.75 on Monday.

The Government of Singapore Investment Corp (GIC) said in a statement on Tuesday that the sale was part of the sovereign fund's "regular rebalancing activities for its overall portfolio" and that it remained a substantial long-term shareholder.

"We are pleased with the company's execution of its strategies and are confident of its long-term prospects," GIC added.

http://www.businesstimes.com.sg/breaking...e-20130226 [Article]

(Not Vested)

nick why not vesteD?

[CityFarmer]

Global Logistic Properties posts 33% higher Q1 earnings of US$204 mil

Global Logistic Properties, the leading provider of modern logistics facilities in China, Japan and Brazil, reported a 33% increase in earnings to US$204 million ($259 million) for the three months ended 30 June 2013 (1QFY14) as the company continues to benefit from solid development momentum and rent growth across its portfolio.

1QFY14 group revenue was US$137 million. This was 20% lower than the same period last year (1QFY13), mainly due to the contribution of 33 Japan properties to GLP J-REIT. Revenue in China was up 40%, driven by developments and continued rent growth. In Japan, revenue was 51% lower, mainly due to the contribution of properties to GLP J-REIT, depreciation of the Japanese Yen and lease cancellation income received from a tenant in 1QFY13. Adjusting for these three items, Japan revenue was up 1%.

Fund management revenue in 1QFY14 was US$12 million, up 122% from a year earlier. This comprised asset and property management fees of US$8 million and property development fees of US$4 million. GLP expects fund fees to continue increasing in tandem with the strategic growth of the fund management platform.

1QFY14 Group EBIT and earnings rose 34% and 33% respectively, driven by higher revenue in China and revaluation gains of US$159 million. Revaluation gains were mainly attributable to higher property values in Japan, as well as developments and rent growth in China.

http://www.theedgesingapore.com/the-dail...4-mil.html

[mkmk]

http://infopub.sgx.com/FileOpen/10162013...eID=259850

GLOBAL LOGISTIC PROPERTIES ANNOUNCES NEW LEASES TOTALING 55,000 SQM (592,000 SQ FT) IN CHINA
 15,000 sqm (162,000 sq ft) leased to Grainger, a leading global retailer of industrial products with a growing e-commerce presence in China
 12,000 sqm (129,000 sq ft) leased to one of the world’s largest health and beauty retail chains
 28,000 sqm (301,000 sq ft) leased to three leading third-party logistics providers including Haier Logistics

(Not vested)

[mkmk]

http://infopub.sgx.com/FileOpen/GLP_Anno...eID=260086

INCORPORATION OF NEW INDIRECT WHOLLY-OWNED SUBSIDIARY AND ASSOCIATED COMPANY

Indirect wholly-owned subsidiary - GLP Nanning Pugui Logistics Facilities Co., Ltd.

Indirect associated company - Shenyang Jinpu Industrial Development Co., Ltd.

Shouldn't have any impact to their P&L, I think.

(Not vested).

[mkmk]

http://infopub.sgx.com/FileOpen/22102013...eID=260549

DEPPON LOGISTICS EXPANDS 25,000 SQM (269,000 SQ FT) WITH GLP IN CHINA

- Deppon Logistics signs expansion leases with GLP in Suzhou, Eastern China and Shenyang, Northeastern China
- Continuing growth of third-party logistics industry in China, driven by strong domestic demand and e-commerce

(not vested)

[CityFarmer]

For those vested and interested. GLP seems a good proxy for China urbanization...

(not vested)

Chinese Institutions to invest $3.2 bil in Global Logistic

Global Logistic Properties, the biggest modern warehouse operator in China, will get US$2.5 billion ($3.2 billion) from investors including the Bank of China Ltd.’s investment unit to expand in Asia’s biggest economy.

They will invest US$2.36 billion by subscribing to new shares in GLP’s local subsidiary and US$163 million through buying new shares in GLP, the Singapore-listed company said in an e-mailed statement. Other investors include “a large Chinese insurance company,” which GLP didn’t name, and Hopu Funds, backed by China’s largest state-owned companies and institutional investors, it said.

GLP is seeking to tap growth in China where spending on logistics accounts for 18% of the country’s gross domestic product, twice as much as in developed countries such as the U.S. and Japan, according to the statement. China’s increasing urbanization and rising domestic consumption needs additional warehouse infrastructure, it said.

“The partnership with these investors will help open doors to a lot of state-owned companies and strategic partners for access to land holdings,” Ming Mei, co-founder and chief executive officer of GLP said in a phone interview today.

GLP’s portfolio in China has grown at a 67% compound annual growth rate since fiscal year 2005 and has 8.7 million square meters (93 million square feet) of completed facilities, according to the statement. The company, which started a US$3 billion China logistic infrastructure fund in November, expects the opportunities in the country to exceed US$2.5 trillion, it said in the statement.

GLP shares rose 1.8% to $2.88 at the close of trading in Singapore. The announcement was made after the close of trading.
http://www.theedgesingapore.com/the-dail...istic.html