SGX:CLN

APAC Realty's H1 Attributable Profit Declines 17%; Shares Up 6%

APAC Realty's (SGX:CLN) attributable profit to owners fell 17% during the first half of the year to SG$9.4 million from SG$11.3 million a year earlier, according to a Monday filing with the Singapore Exchange.Shares of the property investment firm were up over 6% in Tuesday trading.Earnings per share came in at SG$0.0212 compared with SG$0.0304 in the year-ago period.Revenue slid 3.5% year over year to SG$328 million from SG$340 million.The company declared an interim dividend of SG$0.019 per share and a special dividend of SG$0.036 per share, down from an interim dividend of SG$0.027 per share in the prior period.The dividend will be paid by Sept. 4.

Suit Against APAC Realty Unit Withdrawn

APAC Realty (SGX:CLN) said a legal suit filed against its subsidiary, ERA Realty Network, was discontinued and withdrawn by the claimants, according to a Thursday filing with the Singapore Exchange.Earlier, the unit was named as one of three co-defendants in proceedings before the High Court of Singapore, with the claimants seeking damages of SG$731,212 for an alleged breach of duty of care.

RHB Upgrades APAC Realty to Buy from Neutral, Adjusts Price Target to SG$0.71 from SG$0.70