GLP's prospects brighter than what analysts think

GLOBAL Logistic Properties Limited (GLP) may well be a misunderstood stock, as far as its risk profile and accounting treatment are concerned.

Amid worries over a slowdown in its key market China, group CEO Ming Z Mei said the group is still slated to achieve strong profits from development completions in China this year.

Net operating income (NOI) from its US assets is also expected to be "very strong" on the back of high rental growth on renewal leases, Mr Mei told The Business Times.

On the whole, GLP is still expecting positive same-property NOI growth for its key markets of the US, Brazil, China and Japan, similar to the 6.9 per cent growth seen in fiscal 2016 ended March 31.

Such upbeat tone from the group CEO flies in the face of concerns flagged in recent analyst reports following the group's release of fourth-qu…