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Stocks to watch: DBS, IndoAgri, Innopac, Manulife US Reit, Raffles Medical Group


THE following companies saw new developments which may affect trading of their shares on Monday:

DBS Group Holdings: DBS saw first-quarter net profit beat expectations with a 26 per cent rise to S$1.52 billion from the previous year, as total income increased 16 per cent to S$3.36 billion. This increase in earnings came from broad-based loan and non-interest income growth, as well as a higher net interest margin, the bank said on Monday.

IndoAgri: Agribusiness IndoAgri on Monday posted a 71 per cent fall in net profit to 49.8 billion rupiah (S$4.75 million) for the first quarter ended March 31, 2018, down from 170.6 billion rupiah a year ago, on lower palm product output and commodity prices. This came on the back of a 27 per cent drop in revenue from 4.38 billion rupiah in the previous year to 3.19 billion rupiah this year.

Innopac Holdings: Innopac plans to raise up to S$5 million through a stock placement that could more than double its issued share capital, the investment holding company announced on Sunday. The company will offer the shares at a minimum average price of 0.1 Singapore cent apiece, matching the stock's last traded price on April 27. KGI Securities is the placement agent for the deal.

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Manulife US Real Estate Investment Trust (Reit): Manulife US Reit has posted a restated DPU (distribution per unit) of 1.51 US cents for its first quarter, down 0.7 per cent from 1.65 US cents a year ago. This was due to lower income from two of its properties - Figueroa and Michelson - which saw lower occupancies, as well as higher income taxes, but offset by strong earnings from its newly-acquired Plaza and Exchange properties, the Reit said on Monday.

Raffles Medical Group: Raffles Medical's net profit grew by 1.7 per cent to S$15.81 million for the first quarter of 2018, helped by an increase in local patient load as well as a new border screening contract. It clocked a 4.6 per cent rise in revenue to S$120.19 million, the group announced on Monday.