The Business Times

Stocks to watch: SGX, OCBC, UOB, EC World Reit, Swiber

Published Thu, Jul 28, 2016 · 12:49 AM

SINGAPORE Exchange (SGX): The market operator's net profit for the fiscal fourth quarter fell 20.1 per cent to S$76.8 million as macro uncertainties weighed on trading sentiment. Earnings per share stood at 7.2 Singapore cents, lower than nine Singapore cents a year ago.

Its full-year profit, however, stayed flat at S$349.02 million, less than S$1 million above its year-ago profit. SGX is proposing a final dividend of 13 Singapore cents per share.

OCBC Bank: Its second-quarter net profit fell 15 per cent to S$885 million in the absence of year-ago gains from its sale of a stake in Great Eastern Holdings. An interim dividend of 18 Singapore cents per share has been declared for the first half of 2016.

United Overseas Bank: Its net profit for the second quarter rose 5.1 per cent to S$801 million as net interest income slipped 0.2 per cent to S$1.2 billion. The bank has declared an interim dividend of 35 Singapore cents per share.

EC World Reit: Units of the China-based logistics real estate investment trust (Reit) will begin trading on the mainboard of Singapore Exchange on Thursday. The initial public offering, priced at 81 Singapore cents per unit, saw its public tranche subscribed by 1.5 times the units on offer.

Swiber Holdings: It has filed applications to wind up the company and to appoint provisional liquidators after facing demands for about US$25.9 million.

Directors Francis Wong, Leonard Tay and Nitish Gupta have resigned "to seek new opportunities".

Trading in Swiber's shares have been suspended since July 27.

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