O39.SI - Oversea-Chinese Banking Corporation Limited
| Previous close | 8.56 |
| Open | 8.59 |
| Bid | 8.52 x 0 |
| Ask | 8.53 x 0 |
| Day's range | 8.50 - 8.62 |
| 52-week range | 7.80 - 11.23 |
| Volume | 8,979,000 |
| Avg. volume | 8,037,088 |
| Market cap | 37.532B |
| Beta (5Y monthly) | 0.88 |
| PE ratio (TTM) | 7.63 |
| EPS (TTM) | N/A |
| Earnings date | N/A |
| Forward dividend & yield | 0.56 (6.54%) |
| Ex-dividend date | 22 May 2020 |
| 1y target est | N/A |
- Reuters SG
EMERGING MARKETS-Asian markets subdued as Fed promises come up short
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3f2vwbA * Low U.S. rates to pressure U.S. yields, help Asian FX-strategist * Markets hoping for more details on support in future -analysts * Singapore down 2.4%, at two-month low as banks tumble By Rashmi Ashok July 30 (Reuters) - Stocks across most of Asia's emerging markets drifted lower on Thursday as investors judged a steady message from the U.S. Federal Reserve on stimulus as too little to reinvigorate a rally that has relied on the flood of cheap money globally. After a cautious start which picked up chiefly on the U.S. central bank's promise to use "all tools" to support growth, major markets wobbled, while the Philippines, Thailand, Malaysia and Singapore chalked up significant losses.
- Reuters SG
EMERGING MARKETS-Singapore stocks sink to 2-month low; airline, banks dive
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3f2vwbA * Singapore lenders slide, MAS asks banks to cap dividends * Singapore Airlines hits lowest since Aug. 1998 * Remote work, U.S.-China tech troubles to benefit Taiwan - ANZ By Rashmi Ashok July 30 (Reuters) - Singapore shares hit a two-month low on Thursday, hurt by a sell-off in banking stocks after the central bank asked lenders to cap dividends this year, denting the appeal of a sector favoured for steady payouts to shareholders. The FTSE Straits Times Index slid as much as 2.4%, after the Monetary Authority of Singapore (MAS) called on banks to cap 2020 total dividends at 60% of what they paid out last year as the city-state faces its deepest recession ever in the wake of the coronavirus pandemic that has roiled the global economy.
- Reuters SG
Singapore urges banks to cap dividends in face of economic uncertainty
Singapore asked its banks on Wednesday to cap dividend payments this year to conserve capital and increase capacity to lend to businesses and individuals due to the grim economic outlook caused by the COVID-19 pandemic. With the city-state facing its deepest recession ever, the Monetary Authority of Singapore called on banks to cap total dividends per share for FY2020 at 60% of what they paid out in 2019. MAS also asked locally-incorporated banks headquartered in the city-state to offer shareholders dividends in 2020 in the form of shares instead of cash.
- Reuters SG
CORRECTED-Troubled Hin Leong's owners try to block OCBC from picking at shipping units
The family that owns beleaguered Singaporean oil trader Hin Leong Trading (HLT) is seeking to block creditor OCBC's request to appoint overseers for the family's Xihe Holdings and four other subsidiaries to recoup its debt. Oversea Chinese Banking Corp (OCBC) applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong founder Lim Oon Kuin, known as O.K. Lim. Kenny Lim Oon Cheng, Xihe Holdings interim chief executive, said in a July 28 affidavit reviewed by Reuters that granting OCBC's request will "disrupt the constructive discussions that the Xihe Group has had with third parties including lenders".
- Reuters SG
RPT-OCBC seeks court-led supervision of Lim family's shipping unit Xihe Holdings - sources
Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. Xihe Holdings is part of the troubled Lim family business empire, which also includes oil trader Hin Leong Trading and fleet manager Ocean Tankers (Pte) Ltd, both of which were placed under court-appointed supervisors earlier this year.
- Reuters SG
OCBC seeks court-led supervision of Lim family's shipping unit Xihe Holdings - sources
Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. Xihe Holdings is part of the troubled Lim family business empire, which also includes oil trader Hin Leong Trading and fleet manager Ocean Tankers (Pte) Ltd, both of which were placed under court-appointed supervisors earlier this year.
- Reuters SG
EMERGING MARKETS-Asian currencies held back by virus case surge, rupiah falls
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3f2vwbA * Indonesian rupiah weakens as local infections rise * S. Korean markets outperform By Shriya Ramakrishnan June 26 (Reuters) - Asian currencies struggled for direction in choppy trade on Friday with Indonesia's rupiah trailing the rest of the region with a half percent fall after the country reported another surge in coronavirus infections. A generally improved mood pushed several of the region's stock markets higher, with South Korean shares and the won outperforming, boosted by a 3% jump for Samsung Electronics and improved consumer sentiment data. Worries about the growing number of coronavirus infections have kept investors on edge this week, denting hopes for a swift global economic recovery and pushing stock markets across the region lower.
- Reuters SG
OCBC makes first loan using Singapore's new SORA benchmark
OCBC has made a S$150 million ($108 million) loan referencing SORA - the Singapore Overnight Average Rate - the first loan to use the new rate, the bank said on Tuesday, part of a major global effort to change lending benchmarks. Singapore's current main lending benchmark, SOR, is calculated using Libor - the London Interbank Offered Rate - which is set to be discontinued at the end of 2021. Authorities demanded the financial industry move away from Libor after several banks were found to have manipulated the benchmark for profit and fined about $9 billion in total.
- Reuters SG
OCBC's private banking unit targets bigger slice of booming family offices business
Bank of Singapore, the private banking arm of lender OCBC, plans to grab a bigger share of the fast-growing family office business by expanding its investment products and targeting clients outside the region, its CEO said. Its assets under management declined to $104 billion in the year to March from $108 billion a year ago due to the market downturn but assets of the segment catering to family offices, which manage the fortunes of the rich, rose 20%. "The family office is a big segment, not only from China but also from the Middle East as well as other parts of the world," Bahren Shaari told Reuters in an interview.
- Reuters SG
MOVES-Standard Chartered hires new head of wealth management business
Standard Chartered has appointed Marc van de Walle, a senior executive from Asia-focused Bank of Singapore, as the global head of its wealth management business, which manages retail affluent clients. Van de Walle was most recently the global head of products at the Singapore-based private bank, a unit of Oversea-Chinese Banking Corp.
- Reuters SG
SE Asia Stocks-Fall as U.S.-China frictions intensify over new Hong Kong law
* Singapore shares hit 1-1/2 month low * Thailand posts second straight weekly gain * Philippine, Singapore posts third consecutive weekly loss By Pranav A K May 22 (Reuters) - Southeast Asian stock markets fell on Friday as Sino-U.S. tensions were exacerbated after China said it would impose new national security legislation on Hong Kong following last year's pro-democracy unrest. U.S. President Donald Trump warned that Washington would react "very strongly" against China's attempt to gain more control over the former British colony. "The very real threat now, is the return of mass protests to the streets of Hong Kong, a downgrade in trade status with the U.S., and potentially an exit of large companies from the SAR (special administrative region)," said Jeffrey Halley, senior market analyst at OANDA.
- Reuters
Malaysia's Axiata secures $800 mln in sustainability Islamic financing from three banks
Malaysia’s Axiata Group Bhd has secured a total of $800 million in syndicated multi-currency Islamic financing facilities for its sustainability-linked initiatives, the company said in a statement on Monday. The financing arrangement was led by OCBC Al-Amin Bank Bhd while a unit of Oversea-Chinese Banking Corporation Limited, Maybank Islamic Bank Bhd and MUFG Bank (Malaysia) Bhd were also financiers. Axiata said the financing mechanism is first of such in the world, and serves to enhance its liquidity position while benefiting from optimal financing cost.
- Reuters SG
SE Asia Stocks-Vietnam jumps on hopes of economy activity reviving; Philippines falls
* Vietnam index marks best week since April 10 * Ayala Land biggest loser in Philippines * Singapore Airlines sees FY net loss By Pranav A K May 8 (Reuters) - Vietnamese stocks jumped 2% on Friday on news that the Southeast Asian country was on course to revive its economy much sooner than most others, while Philippines was weighed down by telecom companies. Industrial companies Saigon Machinery Spare Parts and Ben Thanh Trading & Service jumped about 7% each and led gains in the benchmark. Singapore shares reversed early gains to end nearly flat after index heavyweights, Oversea-Chinese Banking Corp and Singapore Airlines, reported dismal results.
- Reuters SG
Singapore oil trader Hin Leong owes $3.85 bln to banks - sources
Singapore oil trader Hin Leong Trading (Pte) Ltd, which has begun talks with lenders to extend its credit facilities, owes $3.85 billion to 23 banks, two industry sources said on Thursday. The coronavirus pandemic has led to an unprecedented slump in fuel demand and hammered oil prices, making it difficult for trading firms to make a profit. Hin Leong is one of the largest fuel traders in Asia and an operator of a major tanker fleet.
- Reuters SG
Moody's cuts outlook for Singapore banks on coronavirus fallout
Moody's downgraded the outlook for Singapore's banking sector to "negative" from "stable", citing risks of rising bad loans and deteriorating profitability due to an economic slowdown and a decline in interest rates amid the coronavirus outbreak. "Credit costs will rise as asset quality worsens, while interest rates will decline due to monetary easing, weighing on net interest margins," the ratings agency said in a report on Thursday. Singapore's three main lenders, DBS Group Holdings Ltd , Oversea-Chinese Banking Corp Ltd and United Overseas Bank Ltd had forecast muted earnings growth for 2020 even before the virus outbreak.
- Reuters
SE Asia Stocks-Philippines marks biggest drop in history, others fall on coronavirus panic
* Philippines sees biggest intraday loss ever * Indonesia hits fourth circuit breaker in six sessions * Singapore headed for seventh consecutive session of losses By Arpit Nayak March 19 (Reuters) - Philippines plunged 24% on Thursday on reopening after a two-day hiatus, while other Southeast Asian stock markets also sustained heavy losses on fears over the economic damage from the coronavirus pandemic. The Philippine bourse opened 12.4% lower, triggering the first 10% circuit breaker following which a 15-minute trading halt was placed within minutes of the opening bell. With regards to Asia market, it appears that a downtrend continues to be the case, said Jingyi Pan, market strategist at IG, in a note.
- Reuters SG
SE Asia Stocks-Drop as coronavirus fears grip markets
* Singapore shares hit lowest since October 2018 * Thailand, Indonesia, Philippines shed over 1% each * Financials across the region hit as rate cuts loom By Shruti Sonal March 6 (Reuters) - Southeast Asian stock markets fell sharply on Friday as the fast-spreading coronavirus stoked fears of a deepening economic fallout beyond China, with Singapore shares hitting their lowest in more than a year amid recession concerns. Broader Asian markets tracked Wall Street lower as deaths from the virus rose in the United States and elsewhere, taking the toll worldwide to more than 3,200. The hardest-hit economies remain Hong Kong, Singapore and Thailand, where people flows and supply chain channels are large, S&P added.
- Reuters SG
REFILE-SE Asia Stocks-Collapse as virus grips markets; Thailand, Singapore sink
Countries on three continents reported their first cases of the coronavirus on Friday as the world prepared for a pandemic and investors dumped equities. The Thai benchmark was the worst hit in the region, shedding 3.9%, with heavyweights PTT PCL sliding 6.6% and Airports of Thailand down 4.8%. Thailand's central bank said a prolonged outbreak may see economic growth of less than 1% in 2020.
- Reuters
SE Asia Stocks-Slightly higher as markets stabilise, virus fears linger
* South Korea takes steps to detect infections * Singapore snaps three straight sessions of losses * Consumer, resources shares weigh on Indonesia By Soumyajit Saha Feb 25 (Reuters) - Most Southeast Asian stock markets ended marginally higher on Tuesday after a selloff in the previous session, even as concerns over the rapid spread of the coronavirus remained. Kuwait, Bahrain, Oman, Afghanistan and Iraq reported their first cases, while South Korea, which has the most virus cases outside China, said it aims to test more than 200,000 members of a church at the centre of a surge in the infections. "I don't think this (rise in markets) has got any longevity," said Jeffrey Halley, senior market analyst at OANDA.
- Reuters SG
Private Chinese oil refiners' credit suspended, tightened on default fears -sources
SINGAPORE/HONG KONG, Feb 25 (Reuters) - Banks are suspending the credit lines for some Chinese independent oil refineries amid rising concerns about overall industrial defaults and as the coronavirus outbreak has eaten into the processors' fuel sales. At least three independent refiners have had $600 million in credit lines suspended by international banks, said three refinery and trading executives and two finance directors at the affected companies, requesting anonymity because of the sensitivity of the matter. DBS Group Holdings in Singapore, France's Natixis and BNP Paribas, and Dutch bank ING have suspended open account credit facilities for the companies based in Shandong province, home to the majority of the independent plants that buy about 20% of China's oil imports, the sources said.
- Reuters SG
SE Asia Stocks-Most down as virus spreads outside China; Thailand top loser
* Thailand leads declines * Singapore banks cautious about growth outlook * Vietnam little changed By Arundhati Dutta Feb 21 (Reuters) - Most Southeast Asian stock markets fell on Friday, as the rapid spread of the coronavirus outside mainland China and its impact on Asia's economies dulled the appeal of risk assets. Japan and Singapore are on the brink of recession and South Korea on Friday said its exports to China slumped in the first 20 days of February as the outbreak upends global supply chains. "Data suggests that a pickup in activity is still elusive, which could have negative implications on global growth," DBS Group Research said in a note.
- Reuters
SE Asia Stocks-Most markets tepid as virus fears swell; Singapore dives
The viral outbreak, which claimed almost 640 lives, continued to grip markets. China was confident it could defeat the epidemic with no long-term economic consequences, Xi told U.S. President Donald Trump in a telephone call, according to state television. Customs office in China - the region's biggest trading partner - said on Friday that it will not issue preliminary trade data for January but would combine it with February numbers.
- Reuters
SE Asia Stocks-Most markets fall on coronavirus concerns
* China's cenbank says virus could hit to economy in Q1 * Singapore on track to snap three straight sessions of gains * Philippines set to gain 4% for the week By Soumyajit Saha Feb 7 (Reuters) - Most Southeast Asian shares fell on Friday as more deaths related to the virus outbreak deepened worries about its global economic impact, although regional markets were set for weekly gains of as much as 4% on China's efforts to contain the virus. With the death toll touching 636 in China, the region's biggest trading partner, China's central bank said the epidemic could disrupt economic activity in the first quarter and was preparing policy options to support the economy.
- Reuters SG
MOVES-Singapore's OCBC hires former HSBC's Greater China chief Wong in senior role
Oversea-Chinese Banking Corp Ltd (OCBC) named Helen Wong, former HSBC Holdings' Greater China chief, as the head of its newly created global wholesale banking division. Wong will oversee the bank's cash management and trade under the transaction banking business as well as the investment banking business, Singapore's second-largest lender said in a statement on Wednesday. Wong will also have global responsibilities for all banking relationships with small- and medium-sized enterprises, large corporates and financial institutions.
- Reuters SG
SE Asia Stocks-Rebound as Mideast tensions wane; Malaysia leads gains
* Global markets take breather amid no fresh U.S.-Iran threats * Philippine Dec CPI above forecast * Thai stocks rebound from worst fall in over 2 months By Sameer Manekar Jan 7 (Reuters) - Most Southeast Asian stock markets on Tuesday recovered from previous session's losses, as investors tempered expectations for a widespread geopolitical conflict with no exchange of fresh threats between the United States and Iran. Regional stock markets fell between 0.5% and 1.7% on Monday after the United States warned of major retaliation if Iran strikes back for the killing of its military commander and threatened to impose sanctions on Iraq for the expulsion of U.S. troops from Baghdad.
