STOCKS TO WATCH: SINGTEL, GLP, NATURAL COOL, NEO GROUP, AA REIT

THE following stocks had developments or news that may influence trading on Thursday:

Singapore Telecommunications (Singtel) on Thursday posted a 2 per cent increase in net profit to S$972.8 million for the third quarter ended Dec 31, 2016 - boosted by higher dividends from its cables unit Southern Cross and currency revaluation gains.

This came on the back of a 2 per cent year-on-year fall in revenue from S$4.47 billion to S$4.41 billion, due mainly to mandated cuts to mobile termination rates in Australia. Singtel said that excluding this rate impact, revenue for the quarter would have grown 3 per cent.

Global Logistic Properties (GLP) on Thursday posted a 7.3 per cent fall in net profit to S$170.7 million for its third quarter ended Dec 31, 2016 - attributable to a one-time US syndication gain a year ago and higher forex losses in this quarter.

Revenue rose by 16.9 per cent to S$232.5 million, due mainly to the completion and stabilisation of development projects in China with increasing rents; revenue from financial services in China; and an increase in management fee income from its fund management platform.

Natural Cool Holding's entire board, save for its chief executive officer Tsng Joo Peng, has been ousted at the second extraordinary general meeting (EGM) held on Wednesday, the company announced on Thursday.

At the EGM, disgruntled shareholders voted for the immediate removal of executive chairman Joseph Ang, 52, along with his brother and fellow director Eric Ang, 53. It also saw the removal of other directors, namely chairman of the audit committee, Lim Siang Kai, 60; Wu Chiaw Ching, 61, and William da Silva.

Lau Lee Hua, Tan Siew Bin Ronnie, Goh Teck Sia and Wong Leon Keat were appointed as new directors.

Catering company Neo Group on Thursday posted a 97.4 per cent fall in net profit from S$4.8 million a year ago to S$0.125 million for its third quarter ended Dec 31, 2016 (Q3 2017) - attributable to the absence of a S$4.3 million one-time gain recognised in Q3 2016 from the bargain purchase on the acquisition of subsidiaries.

Revenue grew by 23.4 per cent to S$46.7 million, mostly lifted by a S$7.6 million rise in revenue from the group's food and catering supplies business, which commenced supplying and trading frozen meat to a local third-party customer that contributed to the S$7.7 million segment revenue reported in this quarter compared to S$0.1 million in Q3 2016.

AIMS AMP Capital Industrial Reit (AA Reit) on Thursday announced a 2.8 per cent decrease in distribution per unit (DPU) to 2.77 Singapore cents for its third quarter ended Dec 31, 2016, down from 2.85 Singapore cents a year ago.

This came on the back of a 6.7 per cent fall in gross revenue from S$32.5 million last year to S$30.4 million this year, due mainly to lower rental contributions for the properties at 27 Penjuru Lane, 8 &10 Pandan Crescent as well as the loss in revenue due to the redevelopment of 8 & 10 Tuas Avenue 20.

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