One bank, one business trust and three REITs from the Straits Times Index (SGX: ^STI) will step into the spotlight next week.
United Overseas Bank (SGX: U11) will be the first of the three listed banks to report. In August, the bank said second-quarter profits jumped 28% to S$1.08 billion, thanks to a higher net interest margin that boosted net interest income. However, Singapore’s third-largest lender said it was cautious for the rest of the year.
It hasn’t been the best of years for Hutchison Port Holdings (SGX: NS8U). Since the start of 2018, its shares have fallen nearly 40%. In July, the port operator said second-quarter profits fell 37% because of lower container traffic going through Hong Kong and Shenzhen. Worryingly, it said it could not quantify the impact that could arise from the Sino-US trade dispute.
Ascendas REIT (SGX: A17U) has moved even further beyond Asia and Australia with its recent acquisition of 26 logistics properties in the UK. This followed the purchase of 12 UK properties earlier this year. In July, the industrial and business space owner posted a 1.2% dip in distribution per unit because of a one-off distribution last year for upfront fees and credit facilities.
Look out for an update on the progress at Funan when CapitaLand Mall Trust (SGX: C38U) reports third-quarter results. Singapore’s largest shopping mall operator may also provide further insights into its purchase of Westgate in Jurong. In July, CMT proved the critics wrong after it posted a 2.2% rise in quarterly distributions on the back of a rise in net property income.
CapitaLand Commercial Trust (SGX: C61U) is also pencilled in for results. In July, Singapore’s largest office landlord said contributions from Asia Square Tower 2 helped to offset the divestment of One George Street, Wilke Edge and Golden Shoe Car Park. Consequently, distributable income rose 10.8%.
Turning to economics, America will provide a first look at its economic growth rate for the third quarter. In the second quarter, the US economy grew at an annualised rate of 4.2%. But the rate of growth could have slowed in the third quarter on lower personal consumption.
The European Central Bank will announce its latest interest-rate decision. It is expected to keep it at 0%. Of more interest could be the press conference afterwards, especially its views on recent developments in emerging markets.
And finally, Singapore will report inflation numbers for September. The rate of inflation is expected to be unchanged at 0.7%, while the core inflation rate could have slipped from 1.9% to 1.7%.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo owns shares in CCT, CMT, AREIT and UOB.