DBS Group

Singapore banks to shine despite regional macros, competition from fintechs: Maybank
SINGAPORE (Mar 18): Maybank Kim Eng is keeping “positive” on Singapore’s banking sector while noting significant interest among Malaysian investors in Singapore banks from a flight-to-quality angle, and for their high dividend yields as the SGD appreciates. This comes post a meeting with 15 Malaysian investors from a mix of long-only, hedge and private-banking funds to discuss Singapore ...
More companies beat FY18 expectations this earnings season
SINGAPORE (Mar 5): The earnings season is over for now and more companies have beat their FY18 results expectations than missed, with large-caps mostly boosted by one-off gains, according to CGS-CIMB Research in a Monday report. Analyst Lim Siew Khee says, “We think YTD FSSTI’s outperformance (+7%) was somewhat helped by fewer poor results in the last two months where the beats exceeded ...
Ascendas Hospitality Trust kept at 'buy' on strong earnings visibility
SINGAPORE (Jan 30): DBS Vickers Securities is maintaining its “buy” call on Ascendas Hospitality Trust (A-HTRUST) with a target price of 98 cents, and is of the view that the trust’s asset-recycling strategy will continue to provide it earnings stability going forward. The move comes after the manager of A-HTRUST posted a 3Q19 distribution per stapled security (DPS) of 1.45 cents, up ...
DBS Group announces its biggest 1H dividend, but is it sustainable?
SINGAPORE (Aug 20): Banking stocks are typically a favourite dividend play of investors who hunt for yield. This is because as banks grow, they tend to reward shareholders with a steady payout that usually increases gradually. At its recent results briefing for 1HFY2018 ended June 30, DBS Group Holdings proposed to pay its biggest first-half dividend of 60 cents a share. At 53.9%, this is the ...
Missed the boat? DBS says Suntec REIT's rally is still sustainable
SINGAPORE (Dec 15): DBS Group is upgrading Suntec REIT to "buy" from "hold" with a revised target price of $2.30. "We, like all sellside analysts, were blind-sided by Suntec’s past performance and missed the 30% share price rally in 2017," says analyst Mervin Song in a Friday report. But with a multi-year upturn in the Singapore office rents on the horizon, Song argues that REITs with ...
This bank just got an upgrade on its recent share price dip. Why?
SINGAPORE (Sept 14): OCBC has upgraded its rating on DBS Group to “buy” from “hold” with an unchanged fair value estimate of $22.50 due to the recent drop in its share price.  This comes after the stock fell from its recent high of $22.25 in the past two months to close at a low of $20.38 yesterday. This translates to a share price decline of 8.4%, meaning about $4.8 billion of ...
Keppel kept at ‘buy’ by DBS with $7.60 target price
SINGAPORE (Aug 18): DBS Group continues to like Keppel as a proxy to ride on property and offshore & marine recovery after announcing two divestments this week. The group is selling its entire 100% stake in Keppel Lakefront (Nantong) Property Development to a subsidiary of China Vanke, for a consideration of RMB1.43 billion ($292 million). See: Keppel Land China fully divests Waterfront ...
DBS kept at ‘hold’ despite record half-year earnings
SINGAPORE (Aug 7): DBS Group might have achieved record earnings of $2.35 billion for the first half of 2017 on the back of an 8% increase in 2Q earnings, but analysts are not impressed. “1H17 earnings were slightly below our expectation and met 45% of our previous FY17 forecast of $5.1 billion,” says Maybank Kim Eng Research analyst Ng Li Hiang in a Monday report. Meanwhile, CIMB ...
DBS gets a ‘neutral’ from RHB for higher NPL guidance
SINGAPORE (Aug 4): RHB is maintaining its “neutral” rating on DBS Group with a slight increase in target price to $20.65 given guidance for higher NPLs from the oil & gas space. In a Friday report, analyst Leng Seng Choon forecasts DBS’ NPL ratio to rise to 1.6% by end 2017 from 1.5% in 2Q17. DBS’ management has guided that asset quality stress from the oil & gas sector remains ...
Singapore banks could use the scepticism: Bloomberg Gadfly
SINGAPORE (Aug 1): It took an earnings announcement from the smallest of Singapore's banks to shake the edifice of optimism that investors had built around all three of them.  United Overseas Bank Ltd.'s 5.5% profit growth in the June quarter was better than what analysts had expected. Yet UOB's shares fell 2.2% on Friday (they closed 0.3% lower on Monday), dragging down stocks of ...