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Global Logistic Properties Ltd *Official* (SGX: MC0)

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Old 04-02-2016, 10:17 AM   #46
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whats the discount to NAV?

seems cheap
Sry i dk... lazy investor here.

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Old 04-02-2016, 11:41 AM   #47
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CEO Mei in closing remarks: ... our share price as of yest close @1.62, is extremely undervalued.

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Base on their exposure in China, we may see this stock going below $1.25.
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Old 04-02-2016, 11:59 AM   #48
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whats the discount to NAV?

seems cheap
NAV 2.89. 40% discount
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Old 04-02-2016, 12:06 PM   #49
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My last buy was yest, holding 500shares.

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Old 04-02-2016, 12:26 PM   #50
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Got it during ipo time at 1.96 but sold off liao at 2+.
Now lower than ipo ah? $1! $1, possible or not? Heehee
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Old 04-02-2016, 01:11 PM   #51
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NAV 2.89. 40% discount
Maybe you never seen NAV 2.40, but the stock drop from $4 to 73cent.

Anyway the NAV could be base on valuation before china property crash.
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Old 04-02-2016, 01:12 PM   #52
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U buying ma???
I'm waiting.
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Old 04-02-2016, 03:38 PM   #53
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Net cash used in investing activities of discontinued operation - anybody know what is this line in the cashflow statement?
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Old 04-02-2016, 05:23 PM   #54
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So much for the high volume... end up so flat. High volume but only plus 1cent means wat?

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Old 04-02-2016, 06:11 PM   #55
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Means a lot of shorters on this counter
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Old 04-02-2016, 06:26 PM   #56
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Latest Earnings From Global Logistics Properties Ltd: Strong Growth Seen

By esjay - February 4, 2016

https://www.fool.sg/2016/02/04/lates...g-growth-seen/

Global Logistic Properties Ltd (SGX: MC0), or GLP for short, is a modern logistics facilities provider. While the company’s listed in Singapore, its properties are actually based in China, Japan, the U.S., and Brazil.

GLP is involved in the development and subsequently the operation of the properties. It also has a fund management arm which allows the company to tap into its operations expertise to help drive income.

Given that the firm just released its fiscal third quarter earnings (for the three months ended 31 December 2015) this morning, let’s take a look at how the company has performed.

Revenue, profit, and cash flow

Revenue for the reporting quarter came in at US$198.9 million. This was a US$20 million increase, or 11.1%, from the same period a year ago.

The higher revenue came about largely due to the completion and stabilization of development projects in China and increasing rents. Management fee income from the firm’s GLP US Income Partners I fund also helped.

The positive developments on the top-line were partially offset by the syndication of one of the company’s Brazil funds and the sale of five properties to a Japan-focused fund, GLP J-REIT. The weakening of the Japanese yen and Chinese renminbi against the U.S. dollar, the reporting currency of GLP, also contributed.

Profit from operating activities for the reporting quarter was US$150.8 million, an 18.3% increase from US$127.5 million a year ago. If fair value changes and taxes were included, GLP’s profit for the period would be US$269 million, a big 62.1% year-on-year jump. Project completions in China had contributed positively to the US$187 million in fair value changes that the company had recorded for its properties.

On the cash flow front, GLP’s operating cash flow for the quarter had grown as well, by 75% from US$83 million a year ago to US$145.5 million.

Business highlights and future outlook

On the operations front, the company had an overall lease ratio of 93%, which was unchanged from the previous quarter. The company also mentioned that its customer retention ratio had increased from 63% last quarter to 69%. Some 90% of GLP’s portfolio “is occupied by businesses geared towards domestic consumption.”

Looking ahead, the company believes that the markets it is in “have attractive supply and demand fundamentals for logistics facilities in the medium to long term.” That said, the firm is aware and mindful of “near-term challenges in the local and global economic environments.”

China is GLP’s largest profit contributor and investors may be happy to note the firm’s commentary in the earnings release that “leasing in China continues to reflect healthy consumer demand.”

During the reporting quarter, GLP had started US$826 million of new developments, which represents 55% of its development starts target of US$2.9 billion for the fiscal year ending 31 March 2016 (FY2016).

In November 2015, the company had acquired a US$4.7 billion portfolio of properties. At the time of acquisition, 66% of the portfolio was contracted to be syndicated to outside investors; the syndication is expected to close in April 2016 upon the receipt of regulatory approval in the U.S. GLP expects more investors to join the portfolio in 2016 such that the firm would eventually own just 10% of it.

All told, It seems like GLP’s business has performed relatively well for the quarter.

Financial strength

But while GLP is chasing growth, its balance sheet might be an area to watch. As of 31 December 2015, the firm’s net debt and net debt to assets ratio stood at US$3.35 billion and 18.2% respectively. These numbers are a big step backward from a year ago when they were at –US$400 million and -2.8%.
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Old 09-02-2016, 03:05 AM   #57
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Last week, someone asked if GIC sold stakes in GLP already...

Answer is no and actually their percentage share increased from 2014.

Here is shareholder data from latest DBS Vickers report.

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Old 11-02-2016, 02:35 PM   #58
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Guys I know GLP now PB at 0.65. But who are the peers I need to compare?

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Old 11-02-2016, 02:53 PM   #59
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I said GIC sold off 25% of their shares. Here is the news

http://www.reuters.com/article/gic-g...0BQ00N20130226
Wow. Just like I sell some of my reits to walk the banks and rebalance my portfolio. GIC good thinking!!
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Old 11-02-2016, 02:56 PM   #60
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I said GIC sold off 25% of their shares. Here is the news

http://www.reuters.com/article/gic-g...0BQ00N20130226
Old news leh...
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