Stocks to watch: OCBC, CLI, Jardine C&C, CDL, UOL, Golden Agri-Resources

THE following companies saw new developments that may affect trading of their securities on Wednesday (Feb 28):

OCBC : The lender’s net profit for the fourth quarter ended Dec 31, 2023, rose 12 per cent to S$1.62 billion from S$1.44 billion a year prior, on the back of a 2 per cent increase in operating profit as well as lower allowances. On Wednesday, the lender reported a net interest income of S$2.46 billion, up 3 per cent from the year before, as average assets grew 4 per cent. Shares of OCBC closed Tuesday 0.2 per cent or S$0.02 lower at S$13.31.

CapitaLand Investment (CLI): The real estate investment manager sank into the red for its second half ended Dec 31, 2023, with a net loss of S$170 million, versus a net profit of S$428 million for the same period the previous year. CLI attributed the weaker performance to losses from the revaluation of investment properties, partially mitigated by higher gains from asset recycling. Its counter closed 1.1 per cent or S$0.03 lower at S$2.74 on Tuesday.