Stocks to watch: UOB, Olam, MIT, KIT, CLCT, OUE C-Reit, AA Reit

THE following companies saw new developments that may affect trading of their securities on Thursday (Jul 27):

UOB : The bank’s net profit for the second quarter rose 27 per cent to S$1.4 billion on higher net interest income, and trading and investment income. Excluding one-off expenses mostly related to the integration of Citigroup, net profit would have been about 35 per cent higher, it said on Thursday. Shares of UOB closed 0.8 per cent or S$0.23 higher at S$28.69 on Wednesday.

Olam Group : The food and agri giant expects net profit to be “materially lower” because of an exceptional one-off charge of US$83 million due to an unprecedented and materially lower crop yield in the group’s almond orchards in Australia. Its shares closed 0.7 per cent or S$0.01 higher at S$1.40 on Wednesday, prior to the announcement.