GLP Signs Strategic Partnership Agreement with Bank of China

GLP Signs Strategic Partnership Agreement with Bank of China

GLP has signed a strategic partnership agreement with Bank of China Limited.

  • GLP establishes strategic partnership with Bank of China
  • GLP’s best-in-class logistics facilities provide increased visibility to track and monitor goods being used as collateral for inventory financing
  • Partnership to drive demand for GLP’s logistics facilities from Bank of China and its clients
  • Partnership provides one-stop solution for GLP’s customers while enhancing GLP’s brand and accelerating growth


Singapore, 3 March 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed a strategic partnership agreement with Bank of China Limited.
 

GLP and Bank of China will collaborate in several ways including:

  • Supply chain financing- Bank of China will provide supply chain financing to GLP’s customers. With the ability to track and monitor goods being used as collateral inside GLP’s warehouses, Bank of China has increased visibility to provide better financing alternatives to GLP’s customers. This is mutually beneficial for GLP’s customers as they can now simultaneously access GLP’s best-in-class facilities and the best supply chain financing from Bank of China.
  • Logistics space leasing- GLP and Bank of China will develop solutions that lower logistics costs for their customers. The partnership will drive demand for GLP’s logistics facilities from Bank of China and its customers.

 

Mr. Ming Z. Mei, Co-Founder and Chief Executive Officer of GLP said, “We are delighted to establish a strategic partnership with Bank of China following its investment in GLP China announced last week. This win-win partnership provides a one-stop logistics platform for GLP customers as they can now simultaneously access our best-in-class facilities and the best supply chain financing. We are confident that this will continue to drive value for our customers and increase stickiness while strengthening our role as the country’s top logistics solutions provider.”
 

Li Xiao Jing, Chairman of Bank of China Group Investment Limited, said: “We are pleased to further strengthen our partnership with GLP, the leader in China’s logistics property market. There is great potential for the development of supply chain financing with the rapid growth of the logistics industry in China. This alliance leverages the financial resources of Bank of China with GLP’s global network of customers as we work together to advance the development of supply chain financing in China.”
 

Established in 1912, Bank of China is China's most international and diversified bank with a leading position in the financial industry. It provides a comprehensive range of financial services to customers across China and 36 other countries globally. In 2006, Bank of China listed on the Hong Kong Stock Exchange (HK: 3988) and Shanghai Stock Exchange (SH: 601988).



About Global Logistic Properties (www.glprop.com)
Global Logistic Properties Limited (“GLP”) is the leading provider of modern logistics facilities in China, Japan and Brazil. Our property portfolio of 23.4 million square meters (252 million square feet) is strategically located across 63 cities, forming an efficient logistics network serving 700 customers. We are dedicated to improving supply chain infrastructure for the world’s most dynamic manufacturers, retailers and third party logistics companies. Domestic consumption is a key driver of demand for GLP.
 

The Group is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).

 


GLP Investor Relations & Media Contact:
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations   
Tel: +65 6643 6372
Email: agoel@glprop.com

 

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