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STOCKS TO WATCH
OVERSEA-CHINESE BANKING CORP
OCBC, Singapore's second-biggest lender, posted a 12 percent jump in fourth-quarter net profit due to a rise in fee income and a quadrupling of gains from its insurance unit that offset weak interest margins. OCBC earned S$663 million ($537 million) in the three months ended in December, compared with S$594 million a year earlier.
SINGAPORE TELECOMMUNICATIONS LTD
Barclays Research raised SingTel's target price to S$3.65 from S$3.50 and kept its 'overweight' rating. The brokerage expects a flattish earnings profile for SingTel this fiscal year, but foresees a 12 percent three-year earnings compound annual growth rate thereafter. Shares of SingTel fell more than 2 percent on Thursday after it posted weak third-quarter earnings.
KEPPEL LAND LTD
Keppel Land China Limited has partnered its property fund management arm, Alpha Investment Partners Limited, to acquire stake in a retail mall in Shanghai for $126.5 million, in line with its strategy to grow its commercial portfolio in high-growth cities.
TAT HONG HOLDINGS LTD
The cranes and heavy equipment supplier said its third-quarter net profit rose 37 percent to S$17.8 million, boosted by gains from asset sales and stronger crane rental revenues.
STARHILL GLOBAL REIT
Starhill Global has secured a 10 percent rent increase for the master lease with Toshin Development Singapore Pte Ltd in a retail mall Ngee Ann City.
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