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Stocks to watch: OKH Global, Capital World, OUE Lippo Healthcare, Japan Foods, CWG International
THE following companies saw new developments which may affect trading of their shares on Wednesday:
OKH Global: The property developer reported a net profit of S$3 million for its second quarter ended Dec 31, 2017, up from S$859,000 a year ago. Revenue stood at S$6.3 million for the quarter - a jump from S$2.9 million previously, attributed largely to a higher income from sale of units from completed projects. Earnings per share came to 0.27 Singapore cent for the quarter, up from 0.08 cent previously.
Capital World: The Malaysian property developer posted a net profit of RM17.4 million (S$5.9 million) for its second quarter ended Dec 31, 2017, up 90 per cent from RM9.2 million a year ago, on the back of an increase in revenue due to higher percentage of works completed.
OUE Lippo Healthcare: OUE announced after trading hours on Tuesday that the group is expected to report a net loss for the fourth quarter ended Dec 31, 2017 and financial year ended Dec 31, 2017, based on a preliminary assessment of the group's unaudited financial results. The loss is attributable mainly to operating costs and provisions, according to its filing with the Singapore Exchange.
Japan Foods Holdings: Strong revenue growth gave a fillip to results for Japan Foods Holdings for its third quarter, which also said that it is in advanced talks with a potential joint venture partner in Indonesia. Net profit for the quarter leapt 73.1 per cent to S$2.5 million from the year-ago period, the group said in a Singapore Exchange filing on Wednesday morning. For the three months ended Dec 31, revenue rose 11.4 per cent to S$18.7 million from the preceding year.
CWG International: Elidom Investment, jointly owned by Sinway Investment, H&H Wealth and Floriland Co, announced it currently owns or controls some 597.12 million shares in international real estate group CWG International representing 90.19 per cent of the total number of issued shares, and is taking steps to delist the company from the Singapore Exchange's mainboard.