2023Q3 Scorecard II: AREIT, DHLT, OCBC, RMG & Venture

This is part II of the scorecard which I am sharing my opinions on the quarterly/half-yearly results of CapitalandAscendas REIT, Daiwa House Logistics Trust, OCBC Bank, Raffles Medical Bank and Venture.

If you have missed part I and my coverage of Mapletree Pan Asia Commercial Trust, you can view them in the following links.

2023Q3 Scorecard I: FCT, MINT, MLT, PLife, iFAST & UOB

Mapletree Pan Asia Commercial Trust AGM and 2023Q1 Results

Similar to previous week review, I am in general happy with the results. CapitalandAscendas REIT’s performance is stable but like the other REITs faces the headwind of increasing borrowing cost. Daiwa House Logistics Trust numbers look good with revenue and net profit income increasing in local currency but negated by foreign exchange.

Also as expected, OCBC produced a stellar performance with interim dividend up by 43% to 40 cents. Raffles Medical has weathered the storm during the pandemic and looks to continue to grow in both Singapore and China. So they should be able to at least maintain their final dividend. Finally, with the near term headwind, Venture reported a weaker revenue and net profit. However, with their strong balance sheet and cash flow, they will be able to maintain their dividend.

Up next, AEM and HRnetGroup will be releasing their results next Friday. Micro-Mechanics will be releasing their full year results at end August.

Links to companies presentation/results

CapitalandAscendas REIT
Daiwa House Logistics Trust
Raffles Medical Group

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