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Stocks to watch: UOB, China Aviation Oil, Manulife US Reit, StarHub, Sembcorp Industries
STOCKS to look out for on Friday morning trading include UOB, China Aviation Oil (S) Corp, Manulife US Real Estate Investment Trust, StarHub and Sembcorp Industries.
United Overseas Bank: UOB said on Friday net earnings for the third quarter rose 12 per cent over the same period a year ago to S$883 million, largely due to stronger net interest income and fee and commission income. On Thursday after trading hours, UOB also announced that Wee Cho Yaw will retire from the board after having steered the bank for six decades.
China Aviation Oil (S) Corp: CAO's net profit for the three months to September fell nearly 8 per cent to US$21.4 million from S$23.2 million a year ago, mainly owing to lower gains from trading activities and optimisation activities due to supply disruptions led by weather and refineries outages.
Manulife US Real Estate Investment Trust (Reit): The Reit is paying a 1.6 US cent distribution per unit for the third quarter, beating its projection of 1.46 US cents by 9.6 per cent as it took in contributions from its maiden acquisition of 500 Plaza Drive in New Jersey.
StarHub: StarHub has posted a net profit of S$76.5 million for the third quarter, down 11.5 per cent from the same period a year earlier.
Sembcorp Industries: Higher finance costs and lower revenue eroded third-quarter earnings for Sembcorp Industries, which also wrote down S$56.3 million on its utilities business in Singapore.