UPDATE: Singapore stocks to watch Wednesday: Wilmar, ComfortDelGro, MUST, Yanlord, OUE, Accordia Golf

The OUE Downtown building in Signapore’s central business district. Credit: Shenton WireThe OUE Downtown building in Signapore’s central business district. Credit: Shenton Wire

This article was originally published on Wednesday, 14 August 2019 at 12:36 A.M. SGT; it has since been updated to include Olam International, ST Engineering, OUE, OUE Commercial REIT, OUE Hospitality REIT, PropNex, Valuetronics, BreadTalk and CapitaLand Retail China Trust.

These are Singapore stocks which may be in focus on Wednesday, 14 August 2019:

Wilmar

Wilmar said Tuesday it planned to list a 10 percent stake in its China operations, Yihai Kerry Arawana Holdings, or YKA, on the ChiNext board of the Shenzhen Stock Exchange.

Read more: Wilmar plans to list 10 percent of YKA on ChiNext

Wilmar

Wilmar reported Tuesday it second quarter net profit dropped 52.3 percent on-year to US$150.9 million, partly on lower soybean crush margins and on weaker performance from the sugar division.

Read more: Wilmar reports 2Q19 net profit dropped 52 percent, missing forecast from UOB KayHian

ComfortDelGro

ComfortDelGro reported Tuesday its second quarter net profit edged up 1.2 percent on-year to S$75.9 million on new acquisitions and growth in public transport.

Read more: ComfortDelGro posts 2Q19 net profit edged up on contributions from acquisitions

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Olam

Olam International reported Wednesday its second quarter net profit dropped 34.5 percent on-year to S$61.49 million on changes to accounting for leases.

Read more: Olam 2Q19 net profit drops 35 percent on changes to lease accounting

ST Engineering

ST Engineering reported Wednesday its second quarter net profit increased 18 percent on-year to S$138.2 million on higher profit from the marine and “others” segments.

Read more: ST Engineering posts 2Q19 net profit increased 18 percent, but missed CGS-CIMB forecast

Yanlord Land

Yanlord Land reported Tuesday its second quarter net profit dropped 41 percent on-year to 865.32 million yuan as the developer delivered a lower gross floor area of residential units to customers.

Read more: Yanlord reports 2Q19 net profit dropped 41 percent on lower deliveries

OUE, OUE Hospitality Trust and OUE Commercial REIT

OUE, OUE Hospitality Trust and OUE Commercial REIT all requested trading halts before the market open Wednesday pending an announcement.

In April, OUE Hospitality Trust and OUE Commercial REIT proposed merging.

Read more about OUE, OUE Hospitality Trust and OUE Commerical REIT.

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OUE

OUE reported Tuesday its second quarter net profit surged more than 11 times on-year to S$60.86 million, from S$5.32 million in the year-ago period, mainly on a one-off gain of S$136.6 million for the disposal of Aquamarina Hotel.

Read more: OUE 2Q19 net profit surges more than 11 times on divestment proceeds

CapitaLand Retail China Trust

CapitaLand Retail China Trust said Wednesday 105.04 million new units issued under its private placement would begin trading on SGX Wednesday.

Read more: CapitaLand Retail China Trust prices private placement at top of range on strong demand

Manulife US REIT

Manulife US REIT (MUST) reported Tuesday its second quarter net property income climbed 33.8 percent on-year to US$27.26 million on new acquisitions.

Read more: Manulife US REIT 2Q19 net property income climbs 34 percent

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BreadTalk

BreadTalk Group said Wednesday CEO Chu Heng Hwee would resign, effective 31 December, with Executive Chairman George Quek Meng Tong set to take over the CEO role.

Read more: BreadTalk announces resignation of CEO Chu

Valuetronics

Valuetronics reported Wednesday its fiscal first quarter net profit fell 3.1 percent on-year to HK$48.1 million (S$8.49 million or US$6.13 million) as the U.S. trade war is spurring customers to seek production outside China.

Read more: Valuetronics fiscal 1Q net profit fell 3 percent as trade war hits customers

PropNex

PropNex reported Tuesday its second quarter net profit fell 11.9 percent on-year to S$3.70 million on lower commission income in the wake of the Singapore government imposing property cooling measures a year earlier.

Read more: Propnex reports 2Q19 net profit declined 12 percent as cooling measures weigh

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China Everbright Water

China Everbright Water reported Tuesday its first half net profit rose 13 percent on-year to HK$420.49 million (S$74.41 million or US$53.59 million) on more higher margin projects.

Read more: China Everbright Water reports 1H19 net profit rose 13 percent

Frasers Logistics & Industrial Trust

Rojana Industrial Park PCL became a substantial shareholder of Frasers Logistics & Industrial Trust after acquiring 42.63 million shares at S$1.173 each via a placement, Rojana Industrial Park said in a filing to SGX Tuesday.

The deemed interest of Rojana Industrial Park rose to 6.34205 percent from 4.9288 percent before the placement, the filing said.

Read more about Frasers Logistics & Industrial Trust.

Accordia Golf Trust

Accordia Golf Trust reported Tuesday that the number of players on its 88 courses rose 7.2 percent on-year in July to 497,808, coming in 3.4 percent below the three-year average.

Read more: Accordia Golf Trust reports increase in players in July

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Vividthree

Vividthree said Tuesday it entered a memorandum of understanding with Hong Kong-based Animation International to develop the Doraemon Experience (DE), a show combining virtual reality ad augmented reality.

Read more: Vividthree enters deal to develop Doraemon virtual reality show

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