GLP: Co has entered into a strategic partnership with Vancl, China's largest online apparel retailer to collaborate on logistic facilities. Co also signed an agreement with Vancl's subsi V+ for 37.8k sqm in GLP Park Songjiang. Vancl as of end May 2011 is GLP's 2nd largest tenant by leased area with total of 141.3 sqm in Beijing, Shanghai and Chengdu. Vancl has US$304m in retail sales for 2010...
GLP trades at 23.2x fwd P/E and has 6 out of 7 analysts rating a Buy on the stock. Counter was adversely affected by the Japan earthquake falling to lows in March but appears to be facing another dip in the near-term. Support at $1.92
No comments:
Post a Comment