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Stocks In Focus SG (GLP, Cambridge Industrial Trust, Ezion Hldgs) – 16/04/14

  • Global Logistic Properties has signed three new lease agreements with Yunda Express, Gooday Logistics and Best Logistics, totaling 96,000 square metres of lettable area in China.

  • Keppel Land saw a 37.6 percent surge in revenue to $284.9 million for the quarter ended 31 March 2014, as a result of higher contribution from residential projects in China. Earnings for the quarter dropped 9.2 percent to $87.7 million mainly due to the absence of write-back taxes amounting to $4.8 million in 1Q13.

  • Cambridge Industrial Trust recognised a 5.1 percent reduction in revenue to $23.5 million from $24.8 million for the quarter ended 31 March 2014, largely due to straight line rent adjustment in the prior period and the effect of income loss from property divestments. Borrowing costs declined 42.4 percent to $4.5 million in absence of increased amortisation of loan transaction cost and commitment fees on undrawn loan facilities. Distributable amount for the quarter grew slightly to $15.6 million.

  • Ezion Holdings secured a charter contract worth US$35 million over a three-year period for the provision of a service rig used in the Arabian Gulf. The Service Rig is expected to be deployed by 1H15 after its refurbishing and upgrading works are completed.



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