GLP inks new lease deals with 5 firms in China
Global Logistic Properties, or GLP, has closed new lease agreement totalling 81,000 square meters with five companies in China, in the retail, e-commerce and third-party logistics industries.
All the customers are using the facilities for domestic distribution amid fast growing sales of consumer goods, GLP said in a statement on Thursday.
Kent Yang, president of GLP China, said that as sales of consumer goods continues to rise in China, "e-commerce and third-party logistics facilities are driving demand for GLP's modern logistic facilities in premium locations".
On Thursday, the counter closed trading down 3.08 per cent, or eight Singapore cents, at S$2.52.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Stocks to watch: Wilmar, MLT, FEHT, CDLHT, Starhill Global Reit, IReit Global
Samsung says Q1 operating profits soar nearly tenfold on-year
Far East Hospitality Trust Q1 net property income rises 6% to S$25.1 million
Boeing gets a welcome respite with US$10 billion bond offering
Hong Kong vies with US in Bitcoin ETF market after crypto’s revival
Chevron CEO expects ExxonMobil arbitration resolved in coming months