UPDATE: SG stocks Wednesday: OCBC, Wilmar, LMIR Trust, CDL Hospitality, Great Eastern SingLand, APAC Realty

OCBC Bank branchOCBC Bank branch

Singapore companies in focus on Wednesday, 23 February 2022: 

  • UPDATE: OCBC reports 4Q21 net profit fell 14 percent missing forecasts
  • Wilmar reports 2021 net profit rose 23 percent
  • CDL Hospitality Trusts acquires Manchester hotel property for GBP22.8M
  • LMIR Trust reports 4Q21 net property income nearly tripled

Others: Great Eastern, APAC Realty and Singapore Land.

This item was originally published on Wednesday, 23 February 2022 at 1:32 a.m. SGT; it has since been updated to add OCBC.

OCBC

OCBC reported Wednesday its fourth quarter net profit fell 14 percent on-year to S$973 million, missing a forecast from Daiwa, as operating expenses rose.

Read more: UPDATE: OCBC reports 4Q21 net profit fell 14 percent missing forecasts

Wilmar International

Wilmar International reported Tuesday its 2021 net profit rose 23.2 percent on-year to a record US$1.89 billion on a strong performance in the feed and industrial products and the plantation and sugar milling segments. 

Read more: Wilmar reports 2021 net profit rose 23 percent

Lippo Malls Indonesia Retail Trust

Lippo Malls Indonesia Retail Trust reported Tuesday its fourth quarter net property income jumped by nearly three times to S$29.36 million from S$10.63 million in the year-ago quarter, mainly on contributions from the newly acquired Lippo Mall Puri. 

Read more: LMIR Trust reports 4Q21 net property income nearly tripled

CDL Hospitality Trusts

CDL Hospitality Trusts is acquiring the Hotel Brooklyn, located in Manchester in the U.K., from RAHoldingsUK for GBP22.8 million, or around S$41.5 million, the REIT said in a filing to SGX Tuesday.

Read more: CDL Hospitality Trusts acquires Manchester hotel property for GBP22.8M

Great Eastern

Great Eastern reported Tuesday its fourth quarter net profit fell 33 percent on-year to S$229.8 million on lower profit from the shareholders’ fund and as the insurance business profit declined. The group said it also had a one-off positive tax impact in the year-ago quarter.

Read more: Great Eastern reports 4Q21 net profit fell 33 percent

APAC Realty

APAC Realty reported Tuesday its 2021 net profit climbed 116 percent on-year to S$35.29 million on higher brokerage income from resale and rental of properties, and from higher new home sales.

Read more: APAC Realty reports 2021 net profit more than doubled

Singapore Land

Singapore Land reported Tuesday its 2021 net profit jumped 316 percent on-year to S$329.85 million, largely on fair value gains. 

Read more: Singapore Land reports 2021 net profit more than quadrupled

Thai Beverage, ALOG, Raffles Education, Temasek and others

Singapore company briefs: Thai Beverage, ARA LOGOS Logistics Trust, Raffles Education, Temasek Holdings, Darco Water Technologies and Mewah International.

Read more: SG briefs: Thai Beverage, ALOG, Raffles Education, Temasek, Darco Water, Mewah