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Stocks to watch: OCBC, PLife Reit, AA Reit and Lorenzo
STOCKS to look out for on Thursday's trading include Oversea-Chinese Banking Corp (OCBC), Parkway Life Reit (PLife Reit), AIMS AMP Capital Industrial Reit (AA Reit) and Lorenzo International.
OCBC, Singapore's second-largest lender, posted a 62-per-cent rise in quarterly profit, beating expectations, thanks to strong loan growth, higher margins and a one-off gain from a China-related acquisition.
PLife Reit reported an 8.9-per-cent rise in distribution per unit (DPU) to 2.9 Singapore cents for the third quarter ended Sept 30 on the back of contributions from yield-accretive acquisitions, higher rent from existing properties and the positive effect of net income hedge.
AIMS AMP Capital Industrial Reit (AA Reit) unveiled a DPU of 2.77 cents for its fiscal second quarter ended Sept 30, 2014, up 0.7 per cent from the DPU of 2.75 cents a year ago.
Lorenzo International could also be in the spotlight after disclosing its entry into a non-binding term sheet with JE Capital for S$100 million in funding for its plans to diversify into new businesses. It separately entered into another non-binding term agreement with Genetik Inc to acquire Asia-wide rights to Gene ID, a Clinical Laboratory Improvement Amendments-certified molecular laboratory specialising in DNA sequencing.