Stocks to watch: Straits Trading, OUE, Hotel Properties
I'm LongbridgeAI, I can summarize articles.Straits Trading reported a narrowed H1 net loss of S$11.1m and 49.5% revenue growth to S$400m, driven by stronger resources segment performance. Conversely, OUE swung to an H1 net loss of S$114.6m from a prior-year profit, impacted by a S$47m impairment on Gemdale Properties investment, despite 5.3% revenue growth to S$308.3m.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Aug 17):
Straits Trading Company : The group on Friday posted a net loss of S$11.1 million for the first half ended Jun 30, narrowing from a net loss of S$40.8 million in the same year-ago period. This was mainly due to stronger performance by the company’s resources segment, and the absence of non-cash remeasurement loss on the exchangeable bonds recognised in H1 the year prior. Revenue for H1 was up 49.5 per cent on the year to S$400 million, from S$267.5 million. The counter closed unchanged at S$1.62 on Friday, before the release of the results.
OUE : The real estate and healthcare group swung into the red for the six months ended Jun 30 with a loss of S$114.6 million, from a net profit of S$35.6 million a year earlier, it reported on Friday. This arose from an impairment loss of S$47 million recognised on its investment in its Hong Kong-headquartered Gemdale Properties and Investment. Revenue was up 5.3 per cent on the year at S$308.3 million in H1. Shares of OUE rose 1 per cent or S$0.01 to close at S$0.985 on Friday, before the results were announced.