Companies affected by the earthquake in Japan

Japan: CLSA identifies SGX counters with rev contribution from Japan, citing the following:

GLP - 82% (logistic warehouses),
Parkway Life Reit - 34% (nursing homes 3-4 storeys high),
Mapletree Logistic Trust - 19% (logistic warehouses),
Frasers Commercial Trust - 13% (office building),
Starhill Global Reit - 6% (office and low rise malls)
and CapitaMalls Asia - 3% (retail malls)

Note that Office assets are more likely to see higher damage (Fraser Commercial Trust) given their heights while logistic assets (GLP and MLT) which are typically 1-2 storeys high would probably be safer in house view….

GLP has about 45% of NAV coming from Tokyo (40%) and Sendai area (5%). In the prospectus, grp has stated its insurance policies in Japan cover damage to facilities
and business interruption caused by fire, windstorm, electrical breakdown, earthquake, public liability (including personal injury), corporate asset insurance and movables insurance……

Most of the assets under GLP since CLSA last visit also have some form of earthquake shock dampener which should reduce the impact to their properties. Management has yet to revert on exact details of the earthquake clause mentioned in the prospectus.