Singapore's Global Logistic Properties (GLP) , which owns warehouses and other logistic assets in Japan and China, said a non-competition arrangement with ProLogis was not material to its operation.The remarks came after the Business Times newspaper reported that GLP had a "truce" with ProLogis, which the paper said "was not specifically disclosed on its IPO prospectus", that prevents GLP from expanding in Japan and ProLogis stepping up in China.
The paper said the truce will expire in February and could lead to tougher competition for the firm in China. Full story
