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Stocks to watch: OCBC, CapitaLand Retail China Trust, AA Reit
THE following companies saw new developments that may affect trading of their shares on Thursday:
Oversea-Chinese Banking Corporation Limited (OCBC): OCBC on Thursday posted a 22 per cent increase in its second-quarter net profit to S$1.08 billion, from S$885 million a year ago, on strong year-on-year performance by its banking, wealth management and insurance operations. An interim dividend of 18 Singapore cents per share has been declared.
CapitaLand Retail China Trust (CRCT): CRCT on Thursday reported a distribution per unit of 2.62 Singapore cents for the second quarter ended June 30, up 0.4 per cent from 2.61 cents last year. Net property income rose 12.6 per cent from S$35.5 million a year ago to S$39.97 million this year. The trust also announced on Thursday that it will sell its entire interest in a company that holds CapitaMall Anzhen in Beijing, China, to Beijing Hualian Anzhen Business Development Company for about S$232 million.
AIMS AMP Capital Industrial Real Estate Investment Trust (AA Reit): AA Reit on Thursday announced a distribution per unit of 2.50 Singapore cents for the first quarter ended June 30, 2017, a decrease of 10 per cent from 2.78 cents a year ago. Net property income rose to S$20.1 million in this quarter from S$19.97 million in the previous year, on lower property operating expenses. Gross revenue was stable at S$30.5 million, compared to last year's S$30.6 million.