Post Reply
1-12 of 12
SEEM not advisible to bet on GLP now:
NEWS RELEASE
MINIMAL IMPACT ON GLOBAL LOGISTIC PROPERTIES’ JAPAN
OPERATIONS FOLLOWING TOKYO EARTHQUAKE
Singapore, 11 March 2011
wishes to inform its shareholders and business partners that, following the 8.9-magnitude
earthquake in Japan this afternoon, the Company’s staff in its Japan operations are safe
and all accounted for.
Based on the Company’s preliminary assessment, the estimated damage to its JPY515.9
billion or US$6.3 billion portfolio of properties in Japan is approximately JPY3.9 billion or
US$47.5 million and the likely loss of rental income is JPY0.89 billion or US$10.8 million,
with the majority of repairs taking place within the next 30 days. The total estimated cost of
JPY4.79 billion or US$58.3 million is less than 1% of the portfolio value of GLP in Japan.
The Company is working closely with affected customers to minimise disruptions to their
operations.
Jeffrey Schwartz, Deputy Chairman of GLP, who was visiting the Japan operations during
the earthquake stated, " The low level of losses are testimony to the quality of our portfolio
and property management as well as the rapid response of our dedicated team in Japan."
GLP would like to assure its shareholders and business partners that the Company will
continue to monitor the situation and follow developments closely. Any material changes to
this assessment or significant developments will be issued in due course.
– Global Logistic Properties Limited (“GLP” or “the Company”)
| GLP slumps on Japan quake company checking properties |
| Written by Thomson Reuters |
| Friday, 11 March 2011 15:40 |
Global Logistic Properties (MC0.SG) is down 4.1% at $1.88, after hitting a low of $1.86 in afternoon trade, likely in reaction to news of a massive earthquake in northeastern Japan that was strongly felt throughout the Tokyo area.
The quake was revised up to 8.9 on the Richter scale, with a magnitude of at least 5.0 in Tokyo. GLP has 69 properties in Japan, with a total floor area of 2.8 million square meters valued at US$5.82 billion ($7.4 billion), 19.9% of GLP's total gross floor area, with the bulk of its portfolio in China.
When contacted by Dow Jones Newswires, a spokeswoman for the company said they are checking properties in the Tokyo area: “we are still in the process of investigating the damages if there’s any, but so far our Tokyo office and our staff are fine there wasn’t any damage at all.”
|
Mood like this, can get more discount later....
bishan22 ( Date: 11-Mar-2011 16:12) Posted:
Now below IPO price of 1.96 - 5% discount.  |
|
Now below IPO price of 1.96 - 5% discount.
japan earthquake hit GLP buidings is it ?
warrenbegger ( Date: 11-Mar-2011 15:35) Posted:
STI counter will hit the most if kanna bad news cause only 30 brother and sister hand in hand. The rest dont hold hand so not too serious.
GuavaXF30 ( Date: 11-Mar-2011 15:03) Posted:
This is one day where being promoted to become STI stock is negative. Indices stocks are first to jenna whack in bear market.
Funnily, pennies are less affected |
|
|
|
STI counter will hit the most if kanna bad news cause only 30 brother and sister hand in hand. The rest dont hold hand so not too serious.
GuavaXF30 ( Date: 11-Mar-2011 15:03) Posted:
This is one day where being promoted to become STI stock is negative. Indices stocks are first to jenna whack in bear market.
Funnily, pennies are less affected.
katak88 ( Date: 10-Mar-2011 23:40) Posted:
Business Times - 10 Mar 2011
GLP to replace SMRT in STI from March 21
SINGAPORE - Global Logistic Properties, which owns warehouses in China and Japan, will replace subway operator SMRT Corp as a constituent of Singapore's Straits Times Index (STI) following a half-yearly review, the index managers said on Thursday.
Inclusion in a benchmark index is often positive for companies as it attracts investments from fund managers as well as investors who track markets via exchange-traded funds.
The 30-member STI, Singapore's most widely followed index, is managed by Singapore Press Holdings, Singapore Exchange and Britain's FTSE Group. -- REUTERS |
|
|
|
Useless stock of year 2011.
Buy blindly just because promoted and now really SEE NO ROAD !!
This is one day where being promoted to become STI stock is negative. Indices stocks are first to jenna whack in bear market.
Funnily, pennies are less affected.
katak88 ( Date: 10-Mar-2011 23:40) Posted:
Business Times - 10 Mar 2011
GLP to replace SMRT in STI from March 21
SINGAPORE - Global Logistic Properties, which owns warehouses in China and Japan, will replace subway operator SMRT Corp as a constituent of Singapore's Straits Times Index (STI) following a half-yearly review, the index managers said on Thursday.
Inclusion in a benchmark index is often positive for companies as it attracts investments from fund managers as well as investors who track markets via exchange-traded funds.
The 30-member STI, Singapore's most widely followed index, is managed by Singapore Press Holdings, Singapore Exchange and Britain's FTSE Group. -- REUTERS |
|
Business Times - 10 Mar 2011
GLP to replace SMRT in STI from March 21
SINGAPORE - Global Logistic Properties, which owns warehouses in China and Japan, will replace subway operator SMRT Corp as a constituent of Singapore's Straits Times Index (STI) following a half-yearly review, the index managers said on Thursday.
Inclusion in a benchmark index is often positive for companies as it attracts investments from fund managers as well as investors who track markets via exchange-traded funds.
The 30-member STI, Singapore's most widely followed index, is managed by Singapore Press Holdings, Singapore Exchange and Britain's FTSE Group. -- REUTERS
Is it confirmed that GLP joining MSCI on 1-12-2010?
i think is good time to buy now. Out of last 8 sessions, have fallen six. Since it going to join MSCI on 1 Dec 10, price will run? any comments?
