Stocks to watch: UOB, OCBC, CapitaLand Investment, SingPost, OUE C-Reit

THE following companies saw new developments that may affect trading of their securities on Wednesday (Nov 3):

UOB: U11 The lender's net profit for the third quarter jumped 57 per cent to S$1.05 billion, on the back of healthy loan growth and sustained fee income, as well as lower credit allowance, it said on Wednesday. UOB shares closed 1.9 per cent or S$0.52 higher at S$27.39 on Tuesday (Nov 2).

OCBC: O39The bank's net profit for the third quarter rose due to resilient business growth and lower allowances as the credit outlook continued to improve, it said on Wednesday. Net profit for the 3 months ended Sep 30 stood at S$1.22 billion, compared with S$1.03 billion from the year-ago period. Shares of OCBC closed at S$11.96 on Tuesday, up S$0.01 or 0.1 per cent.

CapitaLand Investment: 9CI The real estate investment manager booked a 34 per cent increase in Q3 fee-related earnings to S$94.6 million, from S$71.1 million in the year-ago period, it said in a bourse filing before market open on Wednesday. Funds under management also grew 9 per cent, driving fee-related earnings growth. Separately, CapitaLand Investment has established 2 private funds in Japan and South Korea to grow its funds under management by S$688 million. The counter closed down 0.9 per cent or S$0.03 to S$3.43 on Tuesday.

SingPost: S08 The postal service and courier company posted a net profit of S$35 million for the first half of the fiscal year ended September 2021, up 13.3 per cent from S$30.9 million in the corresponding year-ago period. In a bourse filing on Wednesday, the group attributed the rise to growth in the domestic post and parcel, logistics and property segments. Shares of SingPost closed 0.8 per cent or S$0.005 lower at S$0.66 on Tuesday.

OUE Commercial Reit (OUE C-Reit): TS0U The real estate investment trust's (Reit) amount available for distribution was S$30.2 million for the third quarter ended Sep 30, down 7.5 per cent year on year, its manager said in a bourse filing on Tuesday. Units of OUE C-Reit closed S$0.005 or 1.1 per cent higher at S$0.45 on Tuesday, before the news.

Manulife US Reit: BTOU The Reit on Wednesday posted a 90.9 per cent occupancy rate for the third quarter and a 1.3 per cent rental reversion for the same period. There was also a 9 times surge for new leases in leasing activity to 32.3 per cent from Jul 1 to Oct 25, 2021, from 3.3 per cent in the first half of 2021. Units of Manulife US Reit closed 2.1 per cent or US$0.015 higher at US$0.72 on Tuesday.

Singapore Press Holdings T39, SPH Reit:SK6U The media and property group's shareholders have voiced concerns that current offers on the table still undervalue the company, the Securities Investors Association (Singapore) said in a statement on Tuesday. This comes following a surprise all-cash offer from consortium vehicle Cuscaden Peak on Friday (Oct 29) to take SPH private. Shares of SPH ended Tuesday at S$2.13, up S$0.01 or 0.5 per cent; units of SPH Reit closed at S$1.03, down S$0.01 or 1 per cent.

Yangzijiang Shipbuilding: SO7 Shares of the shipbuilder hit a low of S$1.30, down 7.1 per cent or S$0.05, at 9.09 am on Tuesday, after it posted on Monday (Nov 1) a 20.8 per cent drop in gross profit for the third quarter, as higher raw material costs squeezed shipbuilding margins. The counter ended 5 per cent or S$0.07 lower at S$1.33 on Tuesday.