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Stocks to watch: CapitaLand, Fortune Reit, China Minzhong, F&N
THE following stocks had announcements or developments that could affect trading activity at the Singapore Exchange on Wednesday.
CapitaLand: The real estate group's net profit for the third quarter surged 48.3 per cent to S$192.72 million from S$129.98 million a year ago. Revenue rose 17.1 per cent year-on-year to S$1.08 billion.
Fortune Reit: The real estate investment trust (Reit) reported a 12 per cent rise in distribution per unit (DPU) for the third quarter ended Sept 30 from a year ago to 11.54 Hong Kong cents.
China Minzhong Food Corp: The vegetable processor turned in a net profit of 15.45 million yuan (S$3.41 million) for the three months ended Sept 30, down about 73 per cent, dragged down by higher exchange losses. Revenue dipped 4 per cent year-on-year to 467.7 million yuan.
Fraser & Neave: F&N has debunked media reports which said it put in a US$4 billion bid to buy the State Capital Investment Corporation's (SCIC) 45.1 per cent stake in Vietnam Dairy Product Joint Stock Company (Vinamilk).