Oversea-Chinese Banking

Oversea-Chinese Banking is engaged in the in the business of banking, life assurance, general insurance, asset management, investment holding and stockbroking. Co.'s segments include: Global Consumer Financial Services, which provides deposit products, consumer loans, credit cards and wealth management products; Global Corporate Banking, which provides long-term loans, short-term credit, deposit accounts and fee-based services such as cash management and custodian services; Global Treasury, which is engaged in foreign exchange activities, money market operations, fixed income, as well as structured treasury products; and Insurance, which provides both life and general insurance products.
  • TickerO39
  • ISINSG1S04926220
  • ExchangeSingapore Exchange
  • SectorBanks
  • CountryCayman Islands
UOB
Abdul Hadi Bin Abdul Manaf ...
  • Arandi Ariantara
  • Chaiwat Arsirawichai
  • Chong Lee Len
  • Jack Goh Tooan Orng
  • Jie Ying Chloe Tan
  • Jonathan Koh
  • Kowit Pongwinyoo
  • Neo Chen Wentao
  • Sandra Huang Jieqiong
  • Siwakorn Mitsantisuk
  • Tanaporn Visaruthaphong
  • Vincent Khoo Boo Aik
  • Ziv Ang Sze Champ

Regional Morning Notes - Wednesday, July 8, 2020

GREATER CHINA Sector Cement: Prices continue to search for the bottom in the slow season. Coal: Supply tightness continues to drive up domestic coal prices. INDONESIA Update Waskita Karya (WSKT IJ/BUY/Rp710/Target: Rp820): Expect 200% hoh earnings growth in 2H20 on project completions and cost efficiencies. MALAYSIA Sector Building Materials: Cement companies have been able to stabilise their ASPs, paving the way for firmer ASPs by end-20. Maintain BUY on Hume. Gaming: Despite lower NFOs’ ticket sales in the first few draws post lifting of lockdown, expect progressive recovery in 2H20. Main...

UOB
Jonathan Koh

Oversea-Chinese Banking Corp - 2Q20 results preview: Sequential bounce from MTM gains and moderation in credit costs

We forecast net profit of S$935m for 2Q20, down 23.6% yoy but up 33.9% qoq. The strong sequential rebound was due to: a) MTM gains from GEH, which are reflected in increased contributions from insurance and higher net trading income, and b) moderation in credit costs by 32bp qoq to 67bp (big blow from Hin Leong in 1Q20). Progressive reopening will provide momentum for an economic recovery. We see value in OCBC with 2020F P/B at 0.9x and dividend yield at 5.6%. Maintain BUY. Target price: S$11.58.

UOB
Jonathan Koh

Singapore Daily - Wednesday, July 8, 2020

KEY HIGHLIGHTS Update Oversea-Chinese Banking Corporation (OCBC SP/BUY/S$9.24/Target: S$11.58): 2Q20 results preview: Sequential bounce from MTM gains and moderation in credit costs. MONTHLY TECHNICAL – INDICES OUTLOOK FTSE Straits Times Index (STI IND): Could be in the process of forming higher highs and higher lows.

UOB
Jonathan Koh

Banking - Well positioned to reward shareholders with sustainable and stable yields

MAS stated in Apr 20 that it does not see a need to restrict banks’ dividend policies and we do not expect MAS to make a U-turn in its stance. Singapore banks intend to maintain their CET-1 CAR within their comfort range of 12.5-13.5%. We expect any trimming of DPS to be manageable at 10% or less. Maintain OVERWEIGHT. BUY DBS (Target: S$26.22) and OCBC (Target: S$12.18).

UOB
Jonathan Koh ...
  • Loke Pei Hao

Singapore Daily - Monday, July 6, 2020

KEY HIGHLIGHTS Sector Banking: Well positioned to reward shareholders with sustainable and stable yield. REITs: S-REITs weekly TRADERS’ CORNER Valuetronics Holdings (VALUE SP): Trading BUY Thai Beverage (THBEV SP): Trading BUY

A director sold 100,000 shares at 11.400SGD and

A director at Oversea-Chinese Banking Corporation Limited sold 100,000 shares at 11.400SGD and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under l...

UOB
Abdul Hadi Bin Abdul Manaf ...
  • Arandi Ariantara
  • Chaiwat Arsirawichai
  • Chong Lee Len
  • Jack Goh Tooan Orng
  • Jie Ying Chloe Tan
  • Jonathan Koh
  • Kowit Pongwinyoo
  • Neo Chen Wentao
  • Sandra Huang Jieqiong
  • Siwakorn Mitsantisuk
  • Tanaporn Visaruthaphong
  • Vincent Khoo Boo Aik
  • Ziv Ang Sze Champ

Regional Morning Notes - Wednesday, July 8, 2020

GREATER CHINA Sector Cement: Prices continue to search for the bottom in the slow season. Coal: Supply tightness continues to drive up domestic coal prices. INDONESIA Update Waskita Karya (WSKT IJ/BUY/Rp710/Target: Rp820): Expect 200% hoh earnings growth in 2H20 on project completions and cost efficiencies. MALAYSIA Sector Building Materials: Cement companies have been able to stabilise their ASPs, paving the way for firmer ASPs by end-20. Maintain BUY on Hume. Gaming: Despite lower NFOs’ ticket sales in the first few draws post lifting of lockdown, expect progressive recovery in 2H20. Main...

UOB
Jonathan Koh

Oversea-Chinese Banking Corp - 2Q20 results preview: Sequential bounce from MTM gains and moderation in credit costs

We forecast net profit of S$935m for 2Q20, down 23.6% yoy but up 33.9% qoq. The strong sequential rebound was due to: a) MTM gains from GEH, which are reflected in increased contributions from insurance and higher net trading income, and b) moderation in credit costs by 32bp qoq to 67bp (big blow from Hin Leong in 1Q20). Progressive reopening will provide momentum for an economic recovery. We see value in OCBC with 2020F P/B at 0.9x and dividend yield at 5.6%. Maintain BUY. Target price: S$11.58.

UOB
Jonathan Koh

Singapore Daily - Wednesday, July 8, 2020

KEY HIGHLIGHTS Update Oversea-Chinese Banking Corporation (OCBC SP/BUY/S$9.24/Target: S$11.58): 2Q20 results preview: Sequential bounce from MTM gains and moderation in credit costs. MONTHLY TECHNICAL – INDICES OUTLOOK FTSE Straits Times Index (STI IND): Could be in the process of forming higher highs and higher lows.

UOB
Jonathan Koh

Banking - Well positioned to reward shareholders with sustainable and stable yields

MAS stated in Apr 20 that it does not see a need to restrict banks’ dividend policies and we do not expect MAS to make a U-turn in its stance. Singapore banks intend to maintain their CET-1 CAR within their comfort range of 12.5-13.5%. We expect any trimming of DPS to be manageable at 10% or less. Maintain OVERWEIGHT. BUY DBS (Target: S$26.22) and OCBC (Target: S$12.18).

UOB
Jonathan Koh ...
  • Loke Pei Hao

Singapore Daily - Monday, July 6, 2020

KEY HIGHLIGHTS Sector Banking: Well positioned to reward shareholders with sustainable and stable yield. REITs: S-REITs weekly TRADERS’ CORNER Valuetronics Holdings (VALUE SP): Trading BUY Thai Beverage (THBEV SP): Trading BUY

With a more favourable environment, OVERSEA-CHS.BKG.CRL. improves to Slightly Positive

OVERSEA-CHS.BKG.CRL. (SG), a company active in the Money Center Banks industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date June 12, 2020, the closing price was SGD 9.24 and its potential was estimated at SGD 9.94.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch