Thursday, December 23, 2010


GLP: Entered into agreement to acq 19.9% in Shenzhen Chiwan Petroleum Supply Base (SCPSB) the parent co of BLOGIS, which is the 2nd largest modern logistics facility provider in China after GLP. Stake was bought from Toll Holdings and JTC Corp, for HK$539m (S$91m) at HK$11.75, a 2.0% disc to 22 Dec closing at $11.99...

Acq to be funded by IPO proceeds. SCPSB as of FY2009 reported net profit of Rmb112m with net profit margin of 34% and is in line with the core business of GLP.

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