Stocks to watch: Great Eastern, Paragon Reit, Parkway Life Reit, First Reit, CLI

THE following companies saw new developments that may affect trading of their securities on Wednesday (Nov 1):

Great Eastern : The insurance arm of OCBC posted a 5 per cent increase in total weighted new sales to S$419.4 million for the third quarter ended September. This was driven by sales from Singapore due to new product launches, said the group on Wednesday. Net profit for the quarter rose 21 per cent to S$180.2 million. Great Eastern shares closed 0.8 per cent or S$0.13 lower at S$17.27 on Tuesday.

Paragon Reit : The real estate investment trust’s (Reit) gross revenue grew 1.2 per cent to S$215.6 million over the first three quarters of its financial year ended Sep 30, its manager said in a business update on Tuesday. In local currency terms, gross revenue for its Singapore assets increased 2.4 per cent, while its Australia assets’ revenue rose 5.4 per cent over the same period. Units of Paragon Reit closed flat at S$0.795 on Tuesday, before the announcement.