Stocks to watch: Global Logistic Properties, Keppel Infrastructure Trust
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
GLOBAL Logistic Properties (GLP) said on Tuesday that it has signed an agreement with Adidas to develop its largest distribution centre in Asia.
This comes just after it announced last Friday that it has accepted a Chinese consortium's offer of S$3.38 per share in cash, valuing the company at about S$16 billion.
In a Singapore Exchange filing on Tuesday, GLP said that Adidas is doubling its space at the same park in Suzhou, Eastern China to meet strong demand from growing domestic consumption.
GLP last traded at S$3.31 on Monday, up two Singapore cents, or 0.61 per cent.
KEPPEL Infrastructure Trust (KIT) on Monday reported a distribution per unit of 0.93 Singapore cent for Q2, unchanged from a year ago.
The trust, however, recorded a 4.9 per cent drop in profit attributable to unitholders as the business trust is allowed to pay distributions out of retained cash and residual cash flows.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
KIT's total distributable cash flows was S$38.7 million for the three months ended June 30, 2017, up from S$38 million the year before.
KIT closed unchanged at S$0.575 on Monday.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
