Stocks In Focus SG (GLP, SGX, LifeBrandz) – 30/09/14

Global Logistic Properties (GLP) signed new lease agreements totalling 43,000 square metres in China. The two new leases were signed with JD.com, one of GLP’s largest customers by leased area, and a third-party logistics company, representing a new customer relationship for GLP.

Libra Group has been awarded a sub-contract worth $12.1 million for the construction, supply, delivery and installation works for a proposed addition of one block of a four-storey ancillary office building to an existing shipyard at 15 Benoi Road. Works under the contract is expected to take nine months to complete.

LifeBrandz’s revenue sank 13.9 percent to $21.8 million for the year ended 31 July 2014, in conjunction to the closure and revamp of operating outlets, slowdown in crowd traffic and stiffer competition from other clubs in the vicinity. Total expenses expanded mainly due to a 256.9 percent increase in other operating expenses, mainly attributable to impairment loss on fixed assets and receivables. Subsequently, the company sank into losses of $5.7 million.

Singapore Exchange is expected to launch the trading of the Singapore kilobar gold contract on 13 October 2014. The contract is the first wholesale 25 kilobar gold contract to be offered globally and is catered to the continuing strong demand for physical gold in Asia. In addition, the gold contract is based on kilobar gold of at least 99.99 percent fineness of an approved brand, and minted from an approved refinery by the Singapore Bullion Market Association.

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