Stocks to watch: UOB, OCBC, Cromwell E-Reit, Del Monte, OUE, Prime US Reit

THE following companies saw new developments that may affect trading of their securities on Wednesday:

UOB U11: The bank posted a 43 per cent rise in net profit for its second quarter on Wednesday. It also declared an interim dividend of S$0.60 per ordinary share. Shares of UOB fell 1.1 per cent, or S$0.28, to close at S$25.85 on Tuesday.

OCBC O39: The bank posted a 59 per cent rise in net profit for its second quarter on Wednesday. An interim dividend of S$0.25 per share was also declared for the period. Shares of OCBC closed at S$12.24, down 0.5 per cent or S$0.06 on Tuesday.

Cromwell European Real Estate Investment Trust CWBU : CWBU 0%: Its manager announced on Wednesday that a wholly-owned subsidiary has acquired a 9,764 square metre freehold logistics property in the UK for £10 million (S$18.8 million), which it says comes at a 3 per cent discount on its independent valuation as well as a 32 per cent discount to replacement cost. The counter closed flat on Tuesday at 2.50 euros.

Del Monte PacificD03 : D03 0%: The canned-food brand on Wednesday announced it was delaying plans for the initial public offering (IPO) of its 87 per cent-owned subsidiary, Del Monte Philippines. This comes in view of adverse market conditions as well as high volatility on the Philippine Stock Exchange amid a surge of Covid-19 cases in the Philippines and in the region, said the group. Shares of Del Monte closed on Tuesday half a Singapore cent or 1.3 per cent lower at 39 cents.

OUE LJ3: The property developer posted a net profit of S$30.1 million on Tuesday for the six months ended June, reversing the year-ago loss of S$207.2 million. The manager attributed this to the absence of the fair-value loss recognised on US Bank Tower last year. Shares of OUE closed at S$1.30 on Tuesday before the announcement, up 2.4 per cent or S$0.03.

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Prime US Reit OXMU: The real estate investment trust (Reit) posted a distribution per unit of 3.33 US cents for the six months ended June, 5.4 per cent lower than a year ago. The manager, on Tuesday, attributed this to higher property expenses. Units of the Reit closed flat at US$0.84 on Tuesday before the announcement.

GHY Culture & Media Holdings XJB: The entertainment and content provider said on Tuesday that it has established a joint venture in China through its indirect associated company and a local partner to increase overall production capacity. GHY shares fell S$0.02 or 3.1 per cent to close at S$0.62 on Tuesday after the announcement.

Pan-United P52: The producer of ready-mix concrete on Tuesday posted a first-half net profit of S$7.3 million, up from just S$138,000 for the same period a year ago, as construction activities pick up in Singapore. Pan-United shares closed 0.5 Singapore cent or 1.6 per cent lower at 31 cents on Tuesday before its results were released.

TalkMed Group 5G3: The Catalist-listed oncology specialist on Tuesday evening posted a 1.1 per cent rise in net profit to S$10.8 million for the six months ended June as patient numbers were hit by travel restrictions. Shares of TalkMed closed flat at S$0.40 on Tuesday after the announcement.

LifeBrandz 1D3: The food and beverage group said on Tuesday evening that its revenue could be hit by the extended closure of its pub in Pattaya, Thailand. The closure was originally ordered from July 20 to Aug 2, but has since been extended till Aug 16. Shares of LifeBrandz closed at 0.5 Singapore cent on Tuesday after the announcement, up by 0.1 cent or 25 per cent.