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Stocks to watch: Wheelock Properties, Capitaland Commercial Trust, United Overseas Insurance, Keppel T&T
THE following companies saw new developments which may affect trading of their shares on Thursday:
Wheelock Properties: The Hong Kong-listed parent of Wheelock Properties (Singapore) is offering S$2.10 per share to take the mainboard-listed property developer private. The voluntary offer by Wheelock and Company, which already owns 76.21 per cent of the company, is unconditional. The deadline for the offer has not been announced, but DBS - which has been appointed as financial adviser to the offeror - said that the earliest expected closing date will be Sept 7.
Capitaland Commercial Trust (CCT): Capitaland Commercial Trust (CCT), which counts properties like Asia Square Tower 2 and Twenty Anson in its porfolio, reported a four per cent fall in its distribution per unit (DPU) for the second fiscal quarter in 2018 to 2.16 Singapore cents on an enlarged unit base. Distributable income rose 14.3 per cent to S$79.4 million.
United Overseas Insurance (UOI): United Overseas Insurance (UOI)'s second-quarter net profit fell 15.5 per cent to S$6.9 million from the previous year, the group said in a Singapore Exchange filing on Wednesday evening. Gross premium written slipped 0.9 per cent to S$29.5 million.
Keppel Telecommunications and Transportation (Keppel T&T): A dilution gain following Keppel DC Reit's private placement exercise lifted results for Keppel Telecommunications & Transportation (Keppel T&T) in its second quarter. Net profit rocketed 137.8 per cent to S$26 million from the preceding year, the group said in a Singapore Exchange filing on Wednesday evening.