Stocks In Focus SG (GLP, Forterra Trust, CordLife) – 03/03/14

• Global Logistic Properties (GLP) established a strategic partnership with Bank of China (BOC) which enables GLP’s customers to obtain supply chain financing from BOC as well as the joint development of solutions between the two parties to lower logistics costs for their customers.

• Forterra Trust’s gross revenue for the fourth quarter ended 31 December 2013 fell 31.6 percent to $15.2 million as a result of zero occupancy of the retail podium at its Headquarters due to on-going refurbishment works. Profits went south where the company recognised a loss attributable to unitholders of $56.7 million in tandem with a $55 million downward reversion in fair value of investment properties. For the full year, gross revenue declined 22 percent to $77.3 million, while the company sank into the red and recognised a loss of $52.5 million.

• Cordlife Group signs strategic alliance agreement with Cordlabs Asia and China Cord Blood Corporation for the provision of human postnatal umbilical cord tissue storage services to certain territories in the People’s Republic of China. The strategic alliance shall be for an initial period of three years and may be extended.

• Q&M Dental Group exercised an option to purchase three Housing Development Board shop units located at Block 130 Jurong Gateway Road for a purchase consideration of $12.2 million excluding tax. The acquisition enables the company to add another permanent location for the operation of a dental centre in Jurong East Central.

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