Stocks to watch: CDL, Del Monte, Sembcorp, Yangzijiang Financial
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Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Friday (Mar 10):
City Developments Limited (CDL): The property developer completed its acquisition of the St Katharine Docks development in London for £395 million (S$636 million). This translates to £751 per square foot on the existing net lettable area, and increases the group’s total commercial assets in the UK to around £1 billion. Shares of CDL closed S$0.02 or 0.3 per cent lower at S$7.38 on Thursday, after the news.
Del Monte Pacific : It posted a net profit of US$9.8 million for the third quarter ended Jan 31, down 62 per cent year on year despite higher turnover. The bottom-line decline was attributed to lower operating results and increased interest expense from higher bank loans, with the redemption of preference shares. Shares of Del Monte closed flat on Thursday at S$0.315, before the results were released.
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