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Stocks to watch: UOB, Great Eastern Holdings, Global Premium Hotels
SHARES of the following companies may be affected by recent events or announcements:
UOB Group reported net earnings of S$807 million for the first quarter of 2017, up 5.4 per cent from a year ago. Total income rose 7.8 per cent to S$2.12 billion, led by growth in core income, the bank said on Friday.
The non-performing loans (NPL) ratio was stable at 1.5 per cent compared with the previous quarter, while NPL coverage stayed high at 118 per cent.
Great Eastern Holdings:
Great Eastern Holdings on Friday reported that its net profit for the first quarter of 2017 stood at S$217.9 million, up 125 per cent compared to S$96.9 million a year ago.
The improved performance was attributed to a higher non-operating profit due to narrowing of credit spreads and rally in equity market, as well as a higher profit from shareholders' fund's investments.
Global Premium Hotels:
Shares in Global Premium Hotels will be suspended from trading on Friday after its public float has fallen below 10 per cent. The company is being taken private.
JK Global Capital, an investment holding company that the chairman Koh Wee Meng owns, had offered 36.5 Singapore cents per share for the shares he does not yet own.