Keppel Telecommunications & Transportation (Keppel T&T) says it will enter into an agreement with Sino-Singapore Tianjin Eco-City Investment and Development Co. for the land use rights for the development of an integrated logistics distribution centre within the Eco Industrial Park (EIP) of the Sino-Singapore Tianjin Eco-City (Tianjin Eco-City) in China.
Posts Tagged ‘logistics’
Citigroup cuts Mapletree Logistics Trust to Hold
January 24th, 2011 |
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Citigroup downgrades Mapletree Logistics Trust (M44U.SG) to Hold from Buy; the house says MLT has been one of the best performing S-REITs in the past year, up over 30% and has outperformed the STI by close to 20%.
“While we remain positive on its outlook, we are downgrading the stock to Hold on valuation grounds.” Citi raises it target to $1.00 from $0.92 to reflect both the improved rental outlook as well as potential acquisitions.
Mapletree Logistics had solid 2010; Buy – RBS
January 21st, 2011 |
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RBS says Mapletree Logistics Trust (M44U.SG) had “a solid 2010” with FY10 distributable income growth of 10.3% on-year in line with expectations.
“The growth is driven by contributions from new acquisitions made during the year (MLT expanded its portfolio by acquiring 14 assets worth about $500 million, increasing its portfolio size to $3.46 billion). We expect MLT to utilise its ample debt headroom ($470 million based on a gearing of 45%) to acquire accretively in 2011.”
Mapletree Logistics 4Q distribution $36.8m
January 20th, 2011 |
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Mapletree Logistics Trust, a Singapore-based industrial landlord, said it will distribute $36.8 million for the fourth quarter ended December 31. It will pay investors 1.55 cents a share.
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Global Logistic Properties buys 19.9% stake in Chinese logistics facility provider for $91m
December 23rd, 2010 |
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Global Logistic Properties, the owner of modern logistics facilities in China and Japan, says wholly-owned subsidiary China Logistics Holding (12), has agreed to acquire a 19.9% stake in Shenzhen Chiwan Petroleum Supply Base Co. (SCPSB), the parent company of Blogis, which is the second largest modern logistics facility provider in China to GLP.
Cache Logistics top pick in industrial space: CIMB
November 30th, 2010 |
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Cache Logistics Trust (K2LU.SG) most attractive among Singapore industrial REITs given highest-in-sector 9.7% yield, lease term to expiry of more than 6 years vs industry average of 5 years, says CIMB.
Rates at Outperform, target $1.30. Adds, valuations undemanding with REIT trading near book value, while potential acquisitions in near term likely to be debt-funded, hence no dilution risk.
Mapletree Logistics flat; $55m buy discounted
November 29th, 2010 |
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Mapletree Logistics Trust’s (M44U.SG) $55 million yield-accretive purchase of Singapore property Liang Huat Building doing little to spur investor interest.
REIT flat at $0.915 in thin trade, drifting in tight $0.905-$0.92 band so far today.
Nov 29: Kim Eng, Mapletree Logistics, Mermaid Maritime, Z-Obee, Serial System
November 29th, 2010 |
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Singapore shares may see a weak start on Monday after Wall Street fell on Friday, but news of an 85 billion euro ($148.6 billion) rescue package for Ireland may lend some support. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.04% on Friday to 3,158.08 points, say Bloomberg and Thomson Reuters.
Palm-oil producers: Crude palm oil for February delivery slipped 0.1% in Kuala Lumpur on Nov. 26, snapping its two-day 5.1% advance. Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, dropped 0.7% to 73.5 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s largest noodle maker, declined 3.3% to $2.66. Wilmar International (WIL SP), the world’s No. 1 palm-oil trader, was unchanged at $6.08.
Cache Logistics Trust rated ‘outperform’ by CIMB
November 1st, 2010 |
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CIMB in an Oct 29 research report says: “3Q10 results met Street and our expectations. YTD DPU of 3.65 cents forms 65% of our FY2010 forecast which was expected for 169 days of operations since listing.Â
Mapletree Logistics Trust rated ‘buy’ by OCBC
October 27th, 2010 |
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OCBC Investment Research in an Oct 22 research report says: “Mapletree Logistics Trust (MLT) reported 3Q10 gross revenue of $54.5 million, up 7.4% y-o-y and 4.9% q-o-q. Net property income of $47.6 million rose 8.1% y-o-y and 4.0% q-o-q.
Mapletree Logistics Trust completes acquisition of AW Centre
October 25th, 2010 |
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Mapletree Logistics Trust says it has completed the acquisition of AW Centre located at 73 Tuas South Avenue 1, Singapore 637600 for $18.3 million.
The purchase price and other acquisition related costs of the property were fully funded by proceeds raised in the latest equity fund raising exercise announced also on 21 September .
MapletreeLog’s total book value of investment properties as at 30 September 2010 (not including this acquisition) was $3.36 billion. With this acquisition, MapletreeLog has 92 properties comprising 51 properties in Singapore, 8 in Hong Kong, 6 in China, 11 in Malaysia, 13 in Japan, 2 in South Korea and 1 in Vietnam.
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Mapletree Logistics off 2.2%; 3Q results in line
October 22nd, 2010 |
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Mapletree Logistics Trust (M44U.SG) off 2.2% at $0.885 underperforming broader market (STI off 0.1%). Trader at local brokerage, who asked not to be named, says underperformance today could be due to selling after REIT was mistakenly bought yesterday, in confusion with Mapletree Industrial Trust (ME8U.SG), which listed post-lunch Thursday.
Mapletree Logistics Trust achieves 9.5% rise in 3Q distributable income to $31.5m
October 21st, 2010 |
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Mapletree Logistics Trust has announced a total amount distributable of $31.5 million for 3Q 2010, an improvement of 9.5% compared with 3Q 2009.
In 3Q 2010, MapletreeLog’s revenue of $54.5 million recorded an increase of 7.4% from $50.8 million in 3Q 2009 and NPI for 3Q 2010 has also increased to $47.6 million, up 8.1% from $44.1 million in 3Q 2009.
Key contributors to the growth in revenue are the 10 yield accretive properties that were acquired during the past 12 months in Singapore, Japan, South Korea and Vietnam. With these yield accretive properties in MapletreeLog’s portfolio, the Trust’s portfolio book value as at 30 September 2010 has increased to $3.4 billion from $2.9 billion for the same period last year.
Mapletree Logistics +4.0%; may be mistaken identity
October 21st, 2010 |
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Mapletree Logistics Trust (M44U.SG) +4.0% at $0.92, with volume spiking to over 43 million shares traded vs 50-day average volume of about 4 million.
Trader at local brokerage says no obvious reason for today’s rise, though some people talking about “a case of mistaken identity.” Says retail investors may have bought counter, confusing it with Mapletree Industrial Trust (ME8U.SG), which due to start trading after lunch at 2 p.m.
MapletreeLog signs sale and leaseback agreement with Hamakyorex for distribution centre worth $16.2m
October 19th, 2010 |
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Mapletree Logistics Trust says it has signed a sale and purchase agreement to acquire Toki Logistics Centre, a warehouse facility in Japan, for JPY 1.05 billion ($ 16.2 million)1 from Hamakyorex Co., a third-party logistics company (3PL) in Japan.
The property is a two-storey warehouse facility strategically situated in Toki Plasma Research Park, an industrial and logistics park about 40 km from Nagoya (Japan’s third largest city after Tokyo and Osaka). Well-connected by the Tokai-Kanjo Expressway to various areas such as Shinetsu, Tokai, Hokuriku and Kansai areas and centrally located between Tokyo and Osaka, the area is popular for logistics and industrial facilities.
Global Logistics IPO said to raise $3.45b
October 8th, 2010 |
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Global Logistic Properties is set to raise $3.45 billion in Singapore’s biggest initial public offering since 1993, three people with knowledge of the matter said.
Shares in GLP, the overseas logistics unit of Government of Singapore Investment Corp., were priced at $1.96 a share, the top end of a range marketed to investors, the people said on condition of anonymity.
GIC prices logistics IPO at top of range-Update
October 8th, 2010 |
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Singapore sovereign wealth fund GIC’s (GIC.UL) logistics unit Global Logistic Properties (GLP) looks set to raise about $3.9 billion after it priced its IPO at the top of the range, sources said on Friday.
GLP is selling 1.762 billion shares at $1.96 apiece, against an indicative range of $1.78-$1.96, sources told Reuters. The company has an option to sell an additional 234.6 million shares if the issue managers exercise a greenshoe option.
GIC’s logistics unit seeks to raise $3.9b in IPO
September 27th, 2010 |
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Singapore sovereign wealth fund GIC’s (GIC.UL) logistics unit said on Monday it seeks to raise as much as $3.9 billion in its initial public offering, making it the city-state’s second-biggest IPO ever.
Mapletree Logistics Trust upgraded to ‘buy’ by OCBC
September 24th, 2010 |
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OCBC Investment Research in a Sept 23 research report says: “MLT said it intends to acquire AW Centre, a warehouse asset in Singapore, for $18.3m through a sale and leaseback transaction.