Global Logistic Properties (MC0.SG) +0.5% at $2.23 in moderate volume of 8.6 million shares vs flat STI.

DBS Vickers says maiden results “sterling,” (net profit +216% on year at US$85.4 million ($112.5 million)), better performance due to completion, stabilisation of 200,000 sq m of new space in China, slight uplift in Japan operations, 6.9% rise in JPY vs USD, revaluation surplus of US$11.6 million from Japan portfolio.

Says group’s China development pipeline remains “robust” with 300,000 sq m of completed, prestabilised properties, another 3.1 million sq m of development properties, landbank.