Home Capital Broker's Calls

OUE kept at 'buy' even as 1Q earnings plunge

Stanislaus Jude Chan
Stanislaus Jude Chan5/15/2018 11:42 AM GMT+08  • 2 min read
OUE kept at 'buy' even as 1Q earnings plunge
SINGAPORE (May 15): OCBC Investment Research is keeping its “buy” recommendation on OUE, despite the property developer reporting a 91% plunge in earnings for the 1Q ended March.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 15): OCBC Investment Research is keeping its “buy” recommendation on OUE, despite the property developer reporting a 91% plunge in earnings for the 1Q ended March.

OUE saw an $8.1 million non-cash marked-to-market fair value loss on the investment in a mutual fund drag 1Q18 earnings down to $1.0 million, from $11.1 million a year ago.

1Q18 revenue fell 26% to $145.6 million, mainly due to an absence of contribution from the group’s Development Property division following the sale of OUE Twin Peaks in October last year.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now