Stocks to watch: Straits Trading, OUE, Hotel Properties
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Aug 17):
Straits Trading Company reported a significant improvement in its financial performance for the first half of the year, posting a net loss of S$11.1 million compared to a loss of S$40.8 million in the same period last year. The company's resources segment performed well, contributing to the narrower loss. Revenue for H1 was up 49.5% year-on-year to S$400 million, up from S$267.5 million.
The stock closed at S$1.62 before the release of the results, remaining unchanged. OUE, a real estate and healthcare group, reported a loss of S$114.6 million for the same period, reversing from a net profit of S$35.6 million a year ago. The downturn was mainly due to an impairment loss of S$47 million on its investment in Gemdale Properties and Investment, a Hong Kong-based company.
Revenue for OUE's H1 was up 5.3% year-on-year at S$308.3 million. Shares of OUE rose 1% or S$0.01 to S$0.985 before the results were announced.
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