Stocks to watch: UOB, CapitaLand Investment, City Developments, Yangzijiang, Keppel Corp

THE following companies saw new developments that may affect trading of their securities on Thursday (Feb 23):

UOB : The bank on Thursday reported a 24 per cent climb in profits as it made S$2.6 billion in the second half of the year ended Dec 31, 2022, up from S$2.1 billion in the year-ago period. Full-year profits stood at S$4.6 billion, 12 per cent higher than the S$4.1 billion recorded in FY21, slightly below consensus estimates of S$4.7 billion. UOB rose 1.1 per cent or S$0.34 to S$30.99 on Wednesday.

CapitaLand Investment (CLI): The real estate investment manager on Thursday reported a 33.8 per cent drop in net profit to S$428 million for the six months ended Dec 31, 2022, compared with S$647 million the year before. This came as the group had lower gains from the revaluation of investment properties and asset recycling. Separately, the group said it has committed S$1.1 billion in equity for a new programme to invest in “special situation opportunities” in China. CLI closed 0.8 per cent or S$0.03 higher at S$3.85 on Wednesday.