Global Logistic Properties (GLP)

[freedom]

If I am not wrong, the company is selling its growing China operation at book value while it is trading above book. So isn't that destroying shareholder value?

[sykn]

A lot of sound and fireworks, but the financials don't look that great. Price swinging all over the place also doesn't help. I am looking forward to the coming FY results, which should be better than the last few years'. (Vested)

[CityFarmer]

For those vested and interested.

(not vested)

GLP posts 29% fall in 4Q net to $200.4 mil

Global Logistic Properties posted a 28.6% fall in net profit to US$160 million ($200.4 million) for the 4Q period ended March.

The decrease was due to lower contribution from jointly-controlled entities, which fell 31.2% to US$124.3 million in the quarter.

GLP's earnings per share fell to 3.19 US cents from 4.54 US cents from a year earlier.

The group's Q4 revenue grew 20.2% to US$150.4 million, driven by the completion and lease-up of developments in China, increasing rents, as well as continued growth in its fund management platform.

For the full year, GLP's net profit was nearly flat at US$685.2 million, on the back of a 6.8% decline in revenue to US$598.3 million.

The lower revenue was mainly due to its sale of properties to GLP J-Reit and foreign exchange movements, it said.

Its board recommended a dividend of 4.5 cents per share, 12.5% over last year's dividend of 4 cents.
http://www.theedgesingapore.com/the-dail...4-mil.html#

[LLI]

May be facing much more competition from Jack Ma, who is funded by the Chinese gvmt to build up the national logistic network.

[sykn]

This stock can be described as "already but not yet". Price - already high; significant value-added - not yet! After analysing the 4Q results, it appears that Brazil (newcomer to its portfolio) is still pulling southwards. What I don't understand is why sell away all those Jap properties to the J-REIT and then complain that they were the main reason for the miserable 4Q performance? Sounds like a circular argument; unless if they didn't sell off the properties, the results would have been even worse! They were also very reticent in saying what happened to all the money made from selling off properties to J-REIT except that it was injected into new developments. The reduction of debt was only about $300M, but I believe the spin-offs amounted to about $1B. I'm also amazed by the half a dozen analysts that gave it a thumbs up. The fact that the stock price kept dropping the day before the results came out, was already a bad omen. Guess we'll just have to wait till Dec 14 to see if all the grand plans and alliances come to anything good. Sigh.

[greengiraffe]

http://www.businesstimes.com.sg/companie...inese-bank

GLP links up with equity investment arm of Chinese bank
By
Lee Meixianleemx@sph.com.sg@LeeMeixianBT
9 Oct5:50 AM
Singapore

GLOBAL Logistic Properties' (GLP) has entered into a strategic partnership deal with China Development Bank Capital (CDB Capital) to become its major partner for logistics infrastructure development.

The Singapore-listed logistics facilities provider said on Wednesday

[greengiraffe]

http://www.businesstimes.com.sg/companie...nt-venture

GLP expands Japan development venture
Group and Canadian partner will each inject additional equity of US$138m

By
Lynette Khoolynkhoo@sph.com.sg@LynetteKhooBT
30 Oct5:50 AM
Singapore

MODERN logistics facilities provider Global Logistic Properties (GLP) is expanding its fund management platform in Japan, hot on the heels of a similar move in Brazil in the same week.

GLP said on Wednesday that it is injecting additional equity to expand its equally-

[greengiraffe]

http://www.businesstimes.com.sg/companie...r-earnings

Forex losses hit Global Logistic's second-quarter earnings
Net profit falls 38%; near-term fall expected to be mitigated by longer-term accelerated growth in China

By
Anita Gabrielanitag@sph.com.sg@AnitaGabrielBT
5 Nov5:50 AM
Singapore

WEIGHED down by US$54 million in one-time foreign exchange (FX) losses, net profit at Global Logistic Properties (GLP) dived 38 per cent to US$89.5 million for the fiscal second quarter.

The provider of modern logistic facilities in China, Japan and Brazil said there were

[cfa]

Heavy selling due to recession in Japan and reduced earning .

[greengiraffe]

RIP

http://infopub.sgx.com/FileOpen/11202014...eID=325505

Singapore, 20 November 2014 – Global Logistic Properties Limited (“GLP”) announces
with great sadness that, on November 19, 2014, its beloved and respected leader, Jeffrey
H. Schwartz passed away. Mr. Schwartz leaves behind an endless legacy as a true leading
visionary and is survived by his wife, Carole, his four children, Heather, Sophia, Ian and
Myles and his daughter-in-law Lucia.
Ming Z. Mei, GLP Co-Founder and CEO, said, “We are all deeply saddened by the death of
my mentor, my partner, and most importantly my closest friend. His vision was key in making
GLP the Company that it is today. I am honored to continue his legacy. He will be greatly
missed by our Company, its stakeholders, our employees and the industry overall.”
Speaking on behalf of the Board of Directors, Dr. Seek Ngee Huat, Chairman of the Board at
GLP said, "It is with deep sorrow we announce Jeff’s passing. Jeff was a well-respected and
determined leader, but more than that, he was a dear friend. We extend our deepest
sympathies and prayers to Jeff’s entire family. He will always be in our hearts."