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Latest Forum Topics / Global Logistic  Post Reply
GLP
Blastoff
Elite
10-Dec-2010 19:25     
 
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 Alert Admin 		Closed at $2.14.
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bishan22
Elite
10-Dec-2010 10:10     
 
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 Alert Admin 		Holding well at 2.14. Smiley
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Bon3260
Supreme
09-Dec-2010 12:55     
 
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Always rmbr, buy when bad rumours, & sell when gd news.

Cos I still din c BBs run rd fm there...

2.40 b4 Jun2011. Sell b4 GE.

51% GLP'll reach 2.40. 49% wun, so trade wif in ur own risk.

('',)



Bon3260      ( Date: 08-Dec-2010 14:54) Posted:

Vol. not huge. & I din c 大鱼在放票.

 

But I saw  大鱼在收票 instead...

 

('',)



Bon3260      ( Date: 08-Dec-2010 10:16) Posted:



GLP'll reach 2.40.

 

('',)

 

Note: As @ 07-Dec-2010, GLP close 2.18.
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Juzztrade
Veteran
09-Dec-2010 11:50     
 
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Juzztrade      ( Date: 08-Dec-2010 15:49) Posted:



Juzz right for me to buy again...

Vested heavily...

Global Logistic Properties (MC0.SG) stock not
expected to move much after exchange filing during break clarifying an article
in today's Business Times. GLP says the report implies a non-disclosure of
material information relating to a non-competition arrangement between GLP and
ProLogis in its Oct. 11 IPO prospectus. However, GLP says the non-competition
pact is "not material" and adds it treated ProLogis as an existing potential
competitor similar to other potential competitors. "Those investors who bought
the stock at the IPO would have known about this. It's only the press that
didn't know it. There's no fundamental change from this. Whether it's ProLogis,
Goodman or AMB, they're all competitors," says an analyst at a foreign
brokerage. "I don't think there should be any negative, or positive reaction
from this," he adds. Shares last down 0.9% at S$2.16 at midday break.
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saturn
Member
09-Dec-2010 11:33     
 
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 Alert Admin 		Gentleman.... Start your engine.......................................
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iPunter
Supreme
09-Dec-2010 10:47     
 
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You may hear a loud "pop!" sound... Smiley

 
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SGG_SGG
Master
09-Dec-2010 10:43     
 
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bishan22
Elite
09-Dec-2010 10:35     
 
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blackreplica      ( Date: 09-Dec-2010 10:25) Posted:



Am vested with this stock, really tempted to pick up more lots at 2.12 right now

Citi and UBS just reiterated their TP

 Citibank:

Global Logistics Properties (GLPL.SI)     Company Update Alert: Clarification on Non-Competition Arrangement Disclosure
 Announcement — GLP released an announcement to clarify an article published in the Singapore Business Times today regarding the non-disclosure of a non- competition arrangement between the Company and ProLogis. According to the article, upon the expiration of the agreement in Feb 2011, ProLogis will not be restricted to operate in China while GLP will also be allowed to acquire and
develop logistic properties in Japan. According to the announcement, GLP does not expect the restriction to materially affect the Company, and no disclosure has been made correspondingly.
 Citi’s view: The impact and threat to GLP are overstated — GLP has grasped the first-mover advantages over the past few years to build up its footprint in China, develop the necessary China-specific services/"know-how" to its customers and more importantly the relationship with the local governments. These key advantages would be hard to replicate without a significant amount of time input, in our view. In contrast, since ProLogis has completely disposed of its China operations to GLP, it would have to start its China operations from scratch. In our view, the level of difficulty for ProLogis to pick up its business in China would be high. They have not yet reopened their China office, and a new Chinese brand name would have to be built. In essence, we have not seen ProLogis proactively expanding in Asia, and recently they have even offloaded their Japan assets.
A rapidly-growing sector presents sufficient development opportunity — Even though GLP is the market leader in China, it only obtained a limited market share in modern logistics facility property. Though the market is competitive, with its core competencies, we expect GLP will continue to enlarge its market share. Besides, given the industry’s policy-supportive nature and growing consumerism in China, the modern logistics facilities industry is expected to expand. We believe there is plenty of room for the market to accommodate more than one modern logistics facilities provider, and allow them to enjoy rapid industry growth.
 Acquisitions of logistic properties in good progress — GLP previously announced that it would acquire certain strategically located assets in a first-tier city in China. According to management, the potential acquisition is making good progress with an anticipated acquisitions completion date before March 2011. This should become a potential catalyst for the company.
Reiterating Buy (1L) — We believe any price weakness due to the misunderstanding of the non-compete agreement may present an enhanced entry opportunity for GLP. We believe its unique and policy-friendly business model as well as its China-Japan dual exposure will lead it to maintain its leadership in Asia’s modern logistics facility industry. Reiterate Buy with TP of S$2.80/sh.

 

UBS:


 No immediate threat
␣ BT article stated end of truce could spell harder grind The Business Times reported on 8th December that a non-compete agreement between ProLogis and GLP expiring in February 2011 could lead to stiffer competition for the group in its targeted growth market of China. Under the clause, ProLogis is prevented from acquiring and building logistic assets in China, while GLP cannot acquire and build these facilities in Japan. The article added the lifting of the non-compete could see ProLogis emerge as a major rival to GLP in China.
␣ Share price over-reacted closing 2.3% lower Although GLP provided a clarification, its shares closed 2.3% lower. We think the market overreacted. GLP started its China business in 2003 (as ProLogis’ Asian operation) and grew its portfolio to 3.5m sqm GFA as of Q2FY11. It would take time for ProLogis to build its China presence to a comparable depth and scale, and we think there is no immediate threat. Even existing China competitors (AMB, Mapletree, Goodman) only have portfolios sizes ranging from 0.3-0.7m sqm NLA.
␣ Building on its market dominance Despite having c50% market share of modern logistics facilities supply in China, GLP continues to expand its operations. The group has 1.1m sqm GFA under development, 2m sqm of landbank, and the option to draw on 4.6m of land reserve. We believe rapid project development will enable GLP to grow at an accelerated pace in China and retain its market dominance.
␣ Valuation: Maintain Buy with S$2.65 price target Our price target is based on 1x our sum-of-the-parts RNAV estimate.
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blackreplica
Member
09-Dec-2010 10:25     
 
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Am vested with this stock, really tempted to pick up more lots at 2.12 right now

Citi and UBS just reiterated their TP

 Citibank:

Global Logistics Properties (GLPL.SI)     Company Update Alert: Clarification on Non-Competition Arrangement Disclosure
 Announcement — GLP released an announcement to clarify an article published in the Singapore Business Times today regarding the non-disclosure of a non- competition arrangement between the Company and ProLogis. According to the article, upon the expiration of the agreement in Feb 2011, ProLogis will not be restricted to operate in China while GLP will also be allowed to acquire and
develop logistic properties in Japan. According to the announcement, GLP does not expect the restriction to materially affect the Company, and no disclosure has been made correspondingly.
 Citi’s view: The impact and threat to GLP are overstated — GLP has grasped the first-mover advantages over the past few years to build up its footprint in China, develop the necessary China-specific services/"know-how" to its customers and more importantly the relationship with the local governments. These key advantages would be hard to replicate without a significant amount of time input, in our view. In contrast, since ProLogis has completely disposed of its China operations to GLP, it would have to start its China operations from scratch. In our view, the level of difficulty for ProLogis to pick up its business in China would be high. They have not yet reopened their China office, and a new Chinese brand name would have to be built. In essence, we have not seen ProLogis proactively expanding in Asia, and recently they have even offloaded their Japan assets.
A rapidly-growing sector presents sufficient development opportunity — Even though GLP is the market leader in China, it only obtained a limited market share in modern logistics facility property. Though the market is competitive, with its core competencies, we expect GLP will continue to enlarge its market share. Besides, given the industry’s policy-supportive nature and growing consumerism in China, the modern logistics facilities industry is expected to expand. We believe there is plenty of room for the market to accommodate more than one modern logistics facilities provider, and allow them to enjoy rapid industry growth.
 Acquisitions of logistic properties in good progress — GLP previously announced that it would acquire certain strategically located assets in a first-tier city in China. According to management, the potential acquisition is making good progress with an anticipated acquisitions completion date before March 2011. This should become a potential catalyst for the company.
Reiterating Buy (1L) — We believe any price weakness due to the misunderstanding of the non-compete agreement may present an enhanced entry opportunity for GLP. We believe its unique and policy-friendly business model as well as its China-Japan dual exposure will lead it to maintain its leadership in Asia’s modern logistics facility industry. Reiterate Buy with TP of S$2.80/sh.

 

UBS:


 No immediate threat
␣ BT article stated end of truce could spell harder grind The Business Times reported on 8th December that a non-compete agreement between ProLogis and GLP expiring in February 2011 could lead to stiffer competition for the group in its targeted growth market of China. Under the clause, ProLogis is prevented from acquiring and building logistic assets in China, while GLP cannot acquire and build these facilities in Japan. The article added the lifting of the non-compete could see ProLogis emerge as a major rival to GLP in China.
␣ Share price over-reacted closing 2.3% lower Although GLP provided a clarification, its shares closed 2.3% lower. We think the market overreacted. GLP started its China business in 2003 (as ProLogis’ Asian operation) and grew its portfolio to 3.5m sqm GFA as of Q2FY11. It would take time for ProLogis to build its China presence to a comparable depth and scale, and we think there is no immediate threat. Even existing China competitors (AMB, Mapletree, Goodman) only have portfolios sizes ranging from 0.3-0.7m sqm NLA.
␣ Building on its market dominance Despite having c50% market share of modern logistics facilities supply in China, GLP continues to expand its operations. The group has 1.1m sqm GFA under development, 2m sqm of landbank, and the option to draw on 4.6m of land reserve. We believe rapid project development will enable GLP to grow at an accelerated pace in China and retain its market dominance.
␣ Valuation: Maintain Buy with S$2.65 price target Our price target is based on 1x our sum-of-the-parts RNAV estimate.
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katak88
Senior
08-Dec-2010 21:41     
 
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GLP started at Underperform by BoA-ML; Target $2.10
WRITTEN BY DOW JONES & CO, INC   
WEDNESDAY, 08 DECEMBER 2010 14:34

Bank of America-Merrill Lynch initiates Global Logistic Properties (MC0.SG) at Underperform, with $2.10 price objective.

“Despite GLP’s thematic appeal and position within a consumer-linked market, we believe valuations are overstating the group’s growth potential over the next 12 months.”

Says GLP has experienced management team, a successful track record of portfolio growth; also, with redeployment into China, GLP has potential to generate superior returns.

Adds, entering fund management business is also expected to fast-track expansion plans. But tips limited re-rating potential at current multiples.

Stripping out GLP’s Japan assets, accounting for 77% of RNAV, says GLP’s share price equates to 2.1x P/B for China, more expensive than peers.



“While the business model is not in question, we believe current valuations leave limited room for re-rating.” Shares off 2.8% at $2.12. 

 

 

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katak88
Senior
08-Dec-2010 21:19     
 
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Business Times - 08 Dec 2010


GLP confirms ProLogis truce, says not material to firm

SINGAPORE - Singapore's Global Logistic Properties (GLP) , which owns warehouses and other logistic assets in Japan and China, said a non-competition arrangement with ProLogis was not material to its operation.

The remarks came after The Business Times newspaper reported that GLP had a 'truce' with ProLogis, which the paper said 'was not specifically disclosed on its IPO prospectus', that prevents GLP from expanding in Japan and ProLogis stepping up in China.

The paper said the truce will expire in February and could lead to tougher competition for the firm in China.

GLP is majority owned by Government of Singapore Investment Corp (GIC) . It raised $3.9 billion through an initial public offering in October.

'The company...is of the view that the existence of the non-competition arrangement between the company and ProLogis is not material, and continues to be non-material, to the ongoing business,' GLP said in a statement.

'There is no non-disclosure of material information in the prospectus with regards to the non-competition arrangement... The company had in the prospectus already treated ProLogis as an existing potential competitor in the same manner as its other potential competitors.'

The firm earlier requested a trading halt of its shares and removed the halt after the firm posted the announcement.

GLP's vice chairman Jeff Schwartz was the chairman and CEO of ProLogis before he quit in 2008. -- REUTERS
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Juzztrade
Veteran
08-Dec-2010 15:49     
 
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Juzz right for me to buy again...

Vested heavily...

Global Logistic Properties (MC0.SG) stock not
expected to move much after exchange filing during break clarifying an article
in today's Business Times. GLP says the report implies a non-disclosure of
material information relating to a non-competition arrangement between GLP and
ProLogis in its Oct. 11 IPO prospectus. However, GLP says the non-competition
pact is "not material" and adds it treated ProLogis as an existing potential
competitor similar to other potential competitors. "Those investors who bought
the stock at the IPO would have known about this. It's only the press that
didn't know it. There's no fundamental change from this. Whether it's ProLogis,
Goodman or AMB, they're all competitors," says an analyst at a foreign
brokerage. "I don't think there should be any negative, or positive reaction
from this," he adds. Shares last down 0.9% at S$2.16 at midday break.
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elton81
Master
08-Dec-2010 15:25     
 
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 Alert Admin 		ocbc accumulating at 2.13

Bon3260      ( Date: 08-Dec-2010 14:54) Posted:

Vol. not huge. & I din c 大鱼在放票.

 

But I saw  大鱼在收票 instead...

 

('',)



Bon3260      ( Date: 08-Dec-2010 10:16) Posted:



GLP'll reach 2.40.

 

('',)

 

Note: As @ 07-Dec-2010, GLP close 2.18.
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Bon3260
Supreme
08-Dec-2010 14:54     
 
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Vol. not huge. & I din c 大鱼在放票.

 

But I saw  大鱼在收票 instead...

 

('',)



Bon3260      ( Date: 08-Dec-2010 10:16) Posted:



GLP'll reach 2.40.

 

('',)

 

Note: As @ 07-Dec-2010, GLP close 2.18.
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AnthonyTan
Elite
08-Dec-2010 14:45     
 
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 Alert Admin 		I don't think so. Very strong backing.

bishan22      ( Date: 08-Dec-2010 14:41) Posted:

Hope this guy will not join the rest of IPO submarine. Quote someone..... sian 1/2.zzzzz.Smiley
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bishan22
Elite
08-Dec-2010 14:41     
 
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 Alert Admin 		Hope this guy will not join the rest of IPO submarine. Quote someone..... sian 1/2.zzzzz.Smiley
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SGG_SGG
Master
08-Dec-2010 14:35     
 
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 Alert Admin 		Good time to value this stock. See if they come in to support their baby after announcing that it is healthy bouncing bundle of joy!
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limkt009
Veteran
08-Dec-2010 14:27     
 
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Jialat, drop so much after halt, lucky I sold before reporting.
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bishan22
Elite
08-Dec-2010 14:24     
 
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 Alert Admin 		Its bleeding liao. Smiley
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saturn
Member
08-Dec-2010 14:16     
 
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Looks like a cover up report........................

 
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