SINGAPORE - The following companies saw new developments that may affect trading of their shares on Wednesday :
Great Eastern Holdings: Great Eastern on Wednesday posted a 90 per cent drop in net profit to $33.9 million for the first quarter ended March 31, from $342.7 million a year ago. The insurance arm of OCBC Bank was weighed down by non-operating losses of $222.8 million, compared to a non-operating profit of $75.9 million a year earlier. Shares in Great Eastern closed at $18.73 on Tuesday, up $0.13 or 0.7 per cent.
OUE Commercial Real Estate Investment Trust : For the first quarter ended March 31, the amount available for distribution rose 44.5 per cent year on year to $37.63 million on the back of contributions following the merger with OUE Hospitality Trust in 2019. OUE C-Reit units closed at 40 cents on Tuesday, up 1.5 cents or 3.9 per cent.
Banyan Tree Holdings: The hospitality group on Tuesday said it will be able to repay its $100 million fixed rate notes maturing on June 5, 2020 with a coupon of 4.85 per cent, after taking into consideration its working capital, cash and bank facilities. The counter closed at 27 cents on Tuesday, up 0.5 cent or 1.9 per cent, before this announcement.
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