Oversea-Chinese Banking Corp (OCBC)

GEH to be suspended on July 15 but OCBC will continue to accept GEH shares for further three months - THE EDGE SINGAPORE

Finance

GEH to be suspended on July 15 but OCBC will continue to accept GEH shares for further three months

The GEH offer has closed and shares are to be suspended, but OCBC will continue to accept offers for a further three months.
Bank of Singapore’s Hong Kong CEO outlines ‘ambitious’ 2026 AUM target - THE EDGE SINGAPORE

Banking & finance

Bank of Singapore’s Hong Kong CEO outlines ‘ambitious’ 2026 AUM target

BOS in Hong Kong plans to grow AUM by 50% by 2026 compared to end-2023 figures. Chan himself calls this an “ambitious” plan.
Chinese firms with ‘China+N’ strategy looking into prospects in Malaysia, Indonesia: OCBC China CEO - THE EDGE SINGAPORE

Asean

Chinese firms with ‘China+N’ strategy looking into prospects in Malaysia, Indonesia: OCBC China CEO

Many Chinese firms are considering the suitability of expanding into Malaysia and Indonesia, and not just Vietnam and Thailand.
Hong Kong market second-largest contributor to OCBC’s sustainable loan commitments after S’pore - THE EDGE SINGAPORE

Environmental, Social and Governance

Hong Kong market second-largest contributor to OCBC’s sustainable loan commitments after S’pore

OCBC group CEO Helen Wong stated last May that she will not raise the bank’s sustainable finance loan commitment target further.
OCBC to invest HK$1.5 bil into tech and facilities across Greater China, hire 300 software engineers in China - THE EDGE SINGAPORE

Banking & finance

OCBC to invest HK$1.5 bil into tech and facilities across Greater China, hire 300 software engineers in China

In addition, Bank of Singapore’s Hong Kong branch aims to grow AUM by 50% by 2026, compared to end-2023 figures.
‘Not cheap’, ‘no value’ but market excited: OCBC’s GEH bid divides analysts - THE EDGE SINGAPORE

Banking & finance

‘Not cheap’, ‘no value’ but market excited: OCBC’s GEH bid divides analysts

“We are unclear of incremental synergies that could accrue by acquiring the 11.56% of GEH that OCBC does not already own.”
With 1% stake in Great Eastern, Malaysia's Sungei Bagan Rubber Co sees shares jump to record high - THE EDGE SINGAPORE

Company in the news

With 1% stake in Great Eastern, Malaysia's Sungei Bagan Rubber Co sees shares jump to record high

The estimated proceeds of RM426.88 million is more than its existing market capitalisation of RM371.46 million.
Great Eastern shares extend gains to trade slightly above OCBC's offer price - THE EDGE SINGAPORE

Company in the news

Great Eastern shares extend gains to trade slightly above OCBC's offer price

The close price — a five-year high — follows OCBC’s $1.4 billion privatisation bid, announced pre-market.

Broker's Calls

OCBC’s spike in new non-performing assets shows modest stress ahead: Bloomberg Intelligence

In 1QFY2024, OCBC's new non-performing assets (NPA) formation of $239 million outpaced its 2023 average of $140 million.
OCBC 1QFY2024 net profit up 22% q-o-q, 5% y-o-y to $1.98 bil - THE EDGE SINGAPORE

Results

OCBC 1QFY2024 net profit up 22% q-o-q, 5% y-o-y to $1.98 bil

Net interest margin (NIM) fell 2 bps q-o-q and 3 bps y-o-y to 2.27% during the quarter.
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