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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

GLP may be supported; lowers damage estimate

Posted on 15 March 2011

From Theedgesingapore.com: Global Logistic Properties may be supported after it releases a reduced damage estimate for its 69-property Japan portfolio, after the massive earthquake that hit Japan Friday. The group — partly owned Singapore’s GIC sovereign wealth fund — estimates loss of rental income at Y890 million ($13.7 million), with the majority of repairs taking place in the next 30 days.
GLP says the total estimated cost is less than 0.6% of its Japan portfolio value; the company says: “We are committed to our shareholders and business partners to continue to monitor the situation and to report any material changes to our assessment or any significant developments.”………………………………………Full Article: Source


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