OUE Hospitality Trust
Distributable income for OUE Hospitality Trust (OUE H-Trust) fell 6.6 per cent to $20.2 million in the second quarter owing to a weaker showing by Mandarin Orchard Singapore.
Net property income rose by 2.2 per cent to $25.8 million for the three months to
June 30 and gross revenue was up 4.6 per cent at $29.6 million.
The higher revenue and net property income were due to contribution from Crowne Plaza Changi Airport, acquired on Jan 30 this year.
The trust's distribution per stapled security was 1.52 cents, down 7.3 per cent from the same period last year.
UOB Kay Hian
Trading volume in the Hong Kong market that surged to levels not seen in recent times has lifted brokerage UOB Kay Hian's second-quarter earnings.
Net profit for the three months ended June 30 jumped 39.2 per cent to $23.7 million.
Commission income rose 17 per cent from $66.3 million. Interest income grew 36.3 per cent to $35.5 million with higher financing activities. Other operating revenue increased 18.9 per cent to $6.5 million with higher corporate finance activities.
Earnings per share for the quarter was 3.12 cents, up from 2.31 cents previously. Net asset value per share was 163.86 cents as at June 30, down marginally from 163.96 cents as at Dec 31 last year.
Hotel Properties' net profit rose 74.1 per cent to $12.2 million, as revenues jumped 34.3 per cent to $163.8 million in the second quarter.
The rosier results were due to the sale of completed condominium units at the Tomlinson Heights development.
The hospitality group said that challenging conditions remain in its key markets, with uncertainties in economic and political environments.
Earnings per share for the quarter was 1.9 cents, up from 0.91 cent previously. Net asset value per share was $3.22 as at June 30, down from $3.28 as at Dec 31 last year.