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Stocks to watch: UOB, IndoAgri, Frasers Hospitality Trust, Sembcorp Marine
THE following companies saw new developments that may affect trading of their shares on Friday:
United Overseas Bank Limited (UOB): UOB grew its second-quarter net profit by 5.5 per cent to S$845 million, or $2 per share on an annualised basis. The bank has declared an interim dividend of 35 Singapore cents per share, equal to its payout a year ago. For the six months ended June 30, net profit was up 5.5 per cent at S$1.7 billion.
Indofood Agri Resources (IndoAgri): IndoAgri's net profit more than tripled to 99.3 billion rupiah (S$10.1 million), or 0.75 Singapore cent per share, in the second quarter of the year on the back of improved production and contributions from a Brazil sugar operation, the palm oil producer announced on Friday before the market opened. The firm is not declaring any dividends for the current quarter, which ended on June 30.
Frasers Hospitality Trust (FHT): FHT's distribution per stapled security fell to 1.24 Singapore cents for the third quarter from 1.51 Singapore cents in the previous year, FHT said in a Singapore Exchange filing on Thursday. Net property income grew 8.5 per cent to S$29.3 million from the previous year.
Sembcorp Marine: Sembcorp Marine's second-quarter net profit plunged 51.2 per cent to S$5.6 million from the year-ago period, the group said in a Singapore Exchange filing on Thursday. The fall in profit was mainly due to lower contribution from rig building and offshore platform projects, and foreign exchange translation loss on the US dollar borrowings for the Brazil yard, it said.