Global Logistic Properties clarifies news reports

It is not involved in GIC's proposed sales.

In a release, Global Logistic Properties Limited clarified reports on Straits Times article, "GIC selling GLP stake to raise up to $1.6b" and Business Times article "GIC to sell a stake of 12.5% in GLP for up to $1.6b" published on 26 February 2013. 

The company stressed that it is not involved in the proposed sale by GIC referred to in the aforementioned news reports. 

The company has on 26 February 2013 been informed by GIC that the latter has been the major shareholder in the company since its establishment. GIC is pleased with the company’s execution of its strategies and are confident of its long-term prospects. 

The block sale is part of GIC’s regular rebalancing activities for its overall portfolio. It adds, GIC remains a substantial long-term shareholder in the Company.