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spursfan
Supreme |
08-May-2026 07:08
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First Quarter 2026 Results Press Release OCBC Group First Quarter 2026 Net Profit Up 5% Year-on-Year to S$1.97 billion https://links.sgx.com/1.0.0/corporate-announcements/PQIEBOAMGBBWL6S7/888006_OCBC_1Q26_Results_Press_Release.pdf https://links.sgx.com/1.0.0/corporate-announcements/PQIEBOAMGBBWL6S7/888008_OCBC_1Q26_Results_Highlights.pdf https://links.sgx.com/1.0.0/corporate-announcements/PQIEBOAMGBBWL6S7/888007_OCBC_1Q26_CEO_Presentation.pdf . |
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hokpin
Supreme |
08-May-2026 07:02
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OCBC result : Net Profit 5% YOY, 13% QOQ. Great performance! | ||||
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Joelton
Supreme |
06-May-2026 09:26
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OCBC&rsquo s Indonesia deal boosts wealth push, may herald more M& A under new CEO Tan Teck Long: analysts Industry watchers say the bank might look to high-growth Asean markets for more acquisitions [SINGAPORE] OCBC&rsquo s latest Indonesian acquisition is expected to strengthen its fee income base and expand its wealth franchise in South-east Asia&rsquo s largest economy, as pressure on lending margins pushes banks to diversify earnings. Analysts said the &ldquo bolt-on&rdquo deal could also signal more acquisitions to come, particularly in high-growth Asean markets where global banks are trimming their retail and wealth operations. On Monday (May 4) night, OCBC announced that its Indonesian subsidiary, Bank OCBC NISP Tbk, would acquire HSBC&rsquo s retail and wealth management operations in Indonesia. The total consideration will be based on the net asset value of the Indonesian business upon completion, plus a premium of up to 6.5 trillion rupiah (S$481.1 million). The deal is expected to close in the second quarter of 2027. Some analysts have welcomed the acquisition, which is expected to be earnings-accretive and add S$6.6 billion to OCBC Indonesia&rsquo s assets under management. This comprises S$4.3 billion of customers&rsquo investments in mutual funds and bonds, as well as insurance and customer deposits of S$2.3 billion. A retail customer loan book of S$300 million will also be transferred to OCBC Indonesia, along with a customer base of about 336,000. On the talent front, around 1,300 staff are expected to join OCBC Indonesia&rsquo s wealth management pool. The Singapore lender&rsquo s latest acquisition is a &ldquo good fit to incrementally grow its Indonesia franchise&rdquo , particularly in wealth management, wrote S& P Global Ratings analysts Ivan Tan and Sue Ong in a Tuesday note. &ldquo We believe wealth management is attractive in a low-interest-rate environment because it augments recurring income to cushion earnings, especially at a time when Singapore banks are facing net interest margins compression,&rdquo they added. They added that the &ldquo immediate financial impact&rdquo on OCBC is limited, given the &ldquo small size&rdquo of the acquisition. Lim Rui Wen, an equity research analyst at DBS Group Research, called Monday&rsquo s deal a &ldquo highly synergistic bolt-on acquisition&rdquo that is focused on adding affluent customers and strengthening OCBC Indonesia&rsquo s domestic wealth capabilities. The insurance and customer deposit base of S$2.3 billion should also provide stable, low-cost funding to OCBC Indonesia, said Lim. The acquisition builds on the bank&rsquo s earlier expansion in Indonesia. In 2024, OCBC acquired Bank Commonwealth Indonesia, adding more than 1.2 million customers. But not all analysts were positive on this move. UBS analysts Aakash Rawat and Benjamin Tan wrote in a report that the deal looks &ldquo a bit overvalued&rdquo , based on the reported profit before tax of S$3.9 million in 2025 for HSBC Indonesia&rsquo s retail and wealth business. They pointed out that profit before tax declined from S$30.8 million in 2023 to S$9 million in 2024. &ldquo This suggests that OCBC is buying a business which has been witnessing declining profitability over the last couple of years,&rdquo the UBS analysts added. More deals possible Beyond the latest acquisition, analysts said OCBC could continue to look for similar opportunities. In the near term, the lender is &ldquo likely in a consolidation phase&rdquo , said Bloomberg Intelligence senior credit analyst Rena Kwok. &ldquo In the medium term, I believe the group may keep a keen eye on similar portfolios in high-growth Asean markets if the valuation is right,&rdquo said Kwok. Kathy Chan, equity analyst at Morningstar, noted that Monday&rsquo s deal was &ldquo actually quite in line&rdquo with OCBC&rsquo s updated strategy, unveiled by group chief executive Tan Teck Long at the lender&rsquo s fourth-quarter results briefing in February. OCBC is scheduled to release its first-quarter results for the three months ended Mar 31 on Friday, before the market opens. At the February briefing, Tan &ndash who took over as chief executive of South-east Asia&rsquo s second-largest bank on Jan 1 &ndash laid out OCBC&rsquo s Asean ambitions under its new &ldquo Next Frontier&rdquo strategy. These included possible acquisitions in the region, funded in part by conserving capital after its existing capital return plan concludes. In FY2025, OCBC announced a two-year, S$2.5 billion capital return plan, which runs till the end of FY2026. Tan said in February that the lender would revert to its historical 50 per cent dividend payout policy after the current capital return plan ends. The bank would retain funds that might otherwise have gone towards another capital return plan &ndash equivalent to around 10 per cent of annual net profit &ndash partly to support acquisitions that fit its corporate strategy. The CEO added then: &ldquo If there&rsquo s any inorganic opportunity in Asean, we will certainly want to take a look.&rdquo The S& P analysts noted that OCBC remains well-capitalised after the acquisition, with sufficient buffers to fund inorganic growth opportunities. Morningstar&rsquo s Chan concurred: &ldquo OCBC mentioned in the media release that they don&rsquo t expect the transaction to have (a) material impact on OCBC&rsquo s capital, so we think further portfolio acquisitions in their key markets are possible with the ample capital they have.&rdquo However, JP Morgan analysts expect a &ldquo small negative reaction&rdquo for the stock since the upside from the deal is more long-term and incremental, while the probability of lower dividends may be more immediate. Global bank exits DBS Group Research&rsquo s Lim noted that global banks undergoing group-wide restructuring have started to retreat from certain locations, creating potential opportunities for Singapore&rsquo s three local lenders. In 2022, Citigroup closed deals to sell its Taiwan consumer business to DBS, and its consumer franchises in Indonesia, Malaysia, Thailand and Vietnam to UOB. The latter transaction, valued at S$4.9 billion, was completed in 2025. &ldquo We believe in some of the locations within Asia, global banks may lack scale to compete due to subscale economics alongside the complexity for some of these global banks to operate in every single location footprint,&rdquo said Lim. &ldquo For the Singapore banks, having bolt-on acquisitions in geographies they already operate in, may be complementary to their existing offerings,&rdquo she added. |
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Joelton
Supreme |
21-Apr-2026 11:30
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OCBC and partners launch South-east Asia&rsquo s first on-chain tokenised physical gold fund Institutional and corporate accredited investors can subscribe to the token using stablecoins or fiat currencies [SINGAPORE] OCBC, its asset management arm Lion Global Investors, and digital asset exchange DigiFT on Monday (Apr 20) announced the launch of South-east Asia&rsquo s first tokenised physical gold fund available on a public blockchain. The OCBC-LionGlobal Physical Gold Fund Token, or GoldX token, provides exposure to the LionGlobal Singapore Physical Gold Fund. As at Thursday (Apr 16), the fund had accumulated S$669.4 million in assets under management since its inception in December 2025. The GoldX token will be issued on the Ethereum and Solana blockchains, which are decentralised digital ledgers. Kenneth Lai, head of global markets at OCBC, said: &ldquo By bringing real-world assets on-chain&hellip we aim to enable stablecoin capital to be invested in these assets while maintaining the standards and safeguards expected by investors.&rdquo Meanwhile, Henry Zhang, founder and group chief executive officer of DigiFT, noted that tokenised access supports investors who want &ldquo institutional-grade exposure delivered in a way that integrates with modern digital custody, settlement, and portfolio workflows&rdquo . This contributes to a more open and interoperable financial system, added Zhang. How the GoldX token works The tokenisation of real-world assets such as gold involves converting ownership rights into digital tokens on a blockchain. On the blockchain, fractions of these assets can be bought and sold. For gold, this increases its accessibility by enabling fractional ownership and use in decentralised finance. OCBC noted that through the DigiFT platform, institutional and corporate accredited investors will be able to subscribe to the GoldX token using stablecoins or fiat currencies. The GoldX token will then be delivered directly to investors&rsquo blockchain wallets and can be redeemed for stablecoin or fiat currencies, added the bank. The launch comes amid a growth in demand for tokenised real-world assets. Data from analytics platform Allium shows that the market for tokenised real-world assets grew nearly 10 times between January 2024 and January 2026, to surpass US$18.23 billion. OCBC and its partners expect strong demand from Web3 ecosystem participants &ndash those who operate within decentralised, blockchain-based environments. The bank cited family offices and high-net-worth individuals as examples. &ldquo These ecosystem participants hold significant capital in stablecoins in Asia, much of it currently sitting idle,&rdquo noted OCBC. Lai added: &ldquo We believe digital assets will play an increasingly important role in financial services, and our focus is on bridging traditional finance with the emerging world of decentralised finance.&rdquo |
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Joelton
Supreme |
20-Apr-2026 11:11
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OCBC shareholders criticise dividend payouts chairman defends policy at AGM SINGAPORE - Over 1,800 shareholders flocked to the Sands Expo and Convention Centre on April 16 to hear from OCBC about its performance and dividends, and to eat the tuna onigiri and mini apple pies that were part of the bento box offerings at the bank&rsquo s annual general meeting. One shareholder asked why OCBC could not have a higher share price like the other local banks, UOB and DBS. He also raised the issue of dividends, noting they had improved from what he described as &ldquo chicken s***&rdquo , although shareholders were still asking for more. OCBC chairman Andrew Lee said the bank&rsquo s dividends are not chicken s***. Mr Lee added that if shareholders look at their total shareholder return over a five-year period, they would be up 2.5 times for every dollar invested. Over a 20-year period, they would be up 7.5 times. OCBC had breached the $100 billion market capitalisation mark on April 2 as its shares hit a record high, crossing the $22 mark per share for the first time. Mr Lee said: &ldquo Of course, everyone wants a better share price, but this is also linked to our performance, and also the external world situation.&rdquo He noted that OCBC has been flagging global risks since 2023, citing the Ukraine war, which disrupted food supply chains and contributed to the surge in global inflation. Even back then, US-China tensions were impacting global trade flows, he added. Mr Lee noted that US President Donald Trump announced another round of tariffs in April 2025, adding that policy flip-flops have continued since. He also pointed to the Middle East conflict, which dates back to 2023 but has since escalated, raising the risk of an energy shock as about 20 per cent of global oil, gas and chemicals flow through the disrupted Strait of Hormuz, with much of it bound for Asia. But he also assured shareholders that the bank&rsquo s exposure to the Middle East is &ldquo not very large&rdquo , with exposure standing at around 2 per cent to 3 per cent of its total loans. The bank is also stress testing at different levels to determine the immediate impact on customers affected by the regional war, but also the indirect, broader impact if the war causes stagflation &ndash a situation of high inflation but slow economic growth. OCBC as a storm-ready ship Mr Lee spoke at length about OCBC&rsquo s logo, which depicts a &ldquo sailing ship slicing through the waves&rdquo , or in more traditional understandings, a Chinese junk, which was one of the most advanced ships of its time. He noted that OCBC had seen signs of an incoming storm as early as 2023. &ldquo So we have been working to prepare our ship &ndash the bank &ndash for all these events. For the last three, four years, we have been quietly doing a few things,&rdquo he said. One of the decisions OCBC took was to defer the redevelopment of OCBC Centre at 65 Chulia Street, which would have cost $5 billion. Of the $5 billion saved, half was paid to shareholders through dividends as well as deployed into share buybacks, Mr Lee said. &ldquo So with hindsight, it was a wise decision,&rdquo he said, likening the bank&rsquo s call to avoid taking on an additional $5 billion in &ldquo cargo&rdquo to not weighing the ship down as it sailed into a storm. Dividend policy Responding to multiple shareholders&rsquo questions on dividends, Mr Lee said that the bank signalled in February that it would return to its 50 per cent payout policy after it has completed a $2.5 billion capital redistribution plan. &ldquo What does it mean in terms of the shift? We are reserving the provisions necessary if we need to sail into a storm,&rdquo he said. The board recommended a final ordinary dividend of 42 cents per share for 2025. It also recommended a special dividend of 16 cents per share, amounting to 10 per cent of the group&rsquo s 2025 net profit. In total, 2025 dividends will be 99 cents per share. OCBC is also aiming to finish paying out the remaining $800 million of its $2.5 billion capital return plan by financial year 2026. This means 2025&rsquo s dividends are slightly lower than the $1.01 paid out in 2024, but a jump from the 82 cents paid in 2023 and 53 cents in 2021. The Great Eastern question Mr Lee said OCBC&rsquo s failed bid to take Great Eastern private over the past two years was like &ldquo taking in cargo that fits in nicely into the ship&rdquo , in line with the bank&rsquo s aim to be an integrated financial services group. He also responded to a shareholder who asked if there would be a third chance to cast a vote regarding Great Eastern. Mr Lee said: &ldquo You have no third chance, or you have missed your chance. &ldquo But there is the open market where you can buy and sell Great Eastern shares, and that&rsquo s where we stand.&rdquo He noted that OCBC had wanted Great Eastern to do better, although he said its recent performance has been &ldquo quite good&rdquo , with a profit of around $1.2 billion, of which OCBC has a near 94 per cent stake. Brighter outlook Group chief executive Tan Teck Long said at his first annual general meeting (AGM) since taking over the top job on Jan 1 that the bank still sees a growing Asia, despite the globally complex and uncertain environment. &ldquo Trade and investment flows in Asia are still on the rise. There are also similar mega trends such as digitisation and AI, sustainability and changing demographics, including an ageing population in Singapore,&rdquo he said. OCBC will continue to invest in ASEAN domestic markets like Indonesia and Malaysia, and its twin hubs of Singapore and Hong Kong. OCBC shares closed 0.3 per cent higher at $22.72 on April 17. UOB holds AGM OCBC&rsquo s AGM came a day before that of UOB, the last of Singapore&rsquo s three local banks to hold its meeting on April 17. DBS held its AGM earlier on March 31. Shareholders at UOB&rsquo s AGM raised similar concerns, including dividend payouts and the bank&rsquo s exposure to the Middle East. When asked whether UOB would set aside provisions for small and medium-sized enterprise clients affected by the conflict, chief executive Wee Ee Cheong said: &ldquo I hope not,&rdquo but added that the bank&rsquo s balance sheet is strong enough and it would step in to provide support if needed. On UOB&rsquo s strategy in ASEAN, Mr Wee said the bank&rsquo s $4.9 billion acquisition of Citigroup&rsquo s consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam is now &ldquo paying off&rdquo . The deal, first announced in 2022, has doubled UOB&rsquo s customer base across the four markets, he said. &ldquo We must continue to invest in infrastructure to capture customers,&rdquo Mr Wee added, noting that ASEAN markets are diverse, with differing languages and customer needs. More than once, he reiterated the importance of running the bank &ldquo with discipline&rdquo for its long-term growth. &ldquo We remain committed to returning $3 billion of surplus capital from 2025 to 2027, and this reflects confidence in our balance sheets, liquidity position and our long-term strategy.&rdquo Shareholders also asked whether UOB would consider offering scrip dividends &ndash where investors can opt to receive shares instead of cash payouts. Chief financial officer Leong Yung Chee said the bank last offered scrip dividends in 2020 and has since stopped the practice. He noted that UOB instead returned $3 billion to shareholders in February 2025 through a mix of share buybacks and special dividends. Decisions on capital returns, including buybacks, scrip dividends or bonus issues, are part of a broader capital management strategy, Mr Leong said. This takes into account shareholder returns, the bank&rsquo s long-term growth needs and the importance of maintaining a sustainable balance sheet, he said. Among the resolutions passed was the approval of non-executive directors&rsquo fees amounting to around $4.5 million, which was 25.3 per cent higher than in 2024. This drew several questions from shareholders before the vote was called. One questioned if there were any criteria, such as key performance indicators, that would determine the directors&rsquo fees. He asked: &ldquo Is it better to give them less so that you can give us shareholders more dividends?&rdquo Ms Tracey Woon, independent director and chairman of UOB&rsquo s remuneration and human capital committee, said that the fees were calculated based on the prevailing market rate, and that having the right fee structure would allow the bank to &ldquo attract the right board members&rdquo to look after shareholders&rsquo interests. In response, the shareholder noted that the bank could be overpaying for directors who do not perform up to expectations, and that it was critical that the bank hired the &ldquo right talent&rdquo . Shares of UOB closed 0.3 per cent lower on April 17 at $37.40. |
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Echoes
Senior |
18-Apr-2026 08:35
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https://www.youtube.com/watch?v=SX9M5YbMczM& t=960s His portfolio is now 625k based on todays share price an increase of 80k over the last 3 months . |
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Joelton
Supreme |
17-Apr-2026 10:56
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OCBC says exposure to Middle East &lsquo not very large&rsquo at 2% - 3%: AGM Oversea-Chinese Banking Corporation (OCBC) says its exposure to the Middle East is limited amid rising geopolitical tensions. The bank&rsquo s exposure is &ldquo not very large&rdquo at about &ldquo 2% to 3%&rdquo of its loan book, says chairman Andrew Lee at the bank&rsquo s annual general meeting (AGM) on April 16. The loans were also to &ldquo very good names in the Middle East&rdquo with exposures largely in commercial paper with &ldquo good credit links&rdquo . Lee&rsquo s remarks come against a backdrop of unprecedented uncertainties since 2022, driven by the Russia-Ukraine war, US-China tensions, tariffs, interest rate movements and the recent conflict in the Middle East. &ldquo Many things are in flux&hellip as a bank we have to handle this,&rdquo says Lee. &ldquo The conflict in Iran is actually a huge challenge to the energy situation especially through Asia,&rdquo he adds, noting that 20% of the world&rsquo s oil, gas and other materials such as fertilisers flowing through the Straits of Hormuz are destined for Asia. &ldquo One thing that is very troubling is, all these things are happening at the same time,&rdquo he continues, noting that it will lead to a potential slow down in global growth. On April 15, the International Monetary Fund (IMF) trimmed its global growth projection to 3.1% from 3.3% for 2026 as the world economy could be &ldquo thrown off course&rdquo by the Middle East conflict. Given this, OCBC has conducted mandatory stress tests and monitoring both first- and second-order risks since 2023. Lee also pointed to the bank&rsquo s decision to defer the potential redevelopment of 63 and 65 Chulia Street and 18 Church Street. The development, he notes, would have cost the bank some $5 billion and would leave it &ldquo very challenged&rdquo amid the current storm. Instead, $2.5 billion were paid out through dividends and share buybacks, a move which Lee describes as a &ldquo wise decision&rdquo . In responses to pre-submitted questions, OCBC says client sentiment has remained &ldquo calm&rdquo to date with most adopting a &ldquo wait-and-see approach&rdquo . The bank also observed some net new money inflows from the Middle East-Dubai International Financial Hub towards the end of March this year. Pivot to Southeast Asia Amid global uncertainty, Southeast Asia is a &ldquo pretty good place&rdquo to be at compared to the rest of the world, says group CEO Tan Teck Long. This is Tan&rsquo s first AGM since he was announced as Wong&rsquo s successor in July 2025. &ldquo SEA is still growing. It is predicted to be one of the top four economies in the world by 2030&hellip The biggest economy in SEA is Indonesia,&rdquo Tan adds. Chairman Lee notes that Indonesia, like China, &ldquo cannot be ignored&rdquo . OCBC has steadily expanded its presence in Indonesia. The bank first bought a 22.5% stake in 2004 and raised its stake to 51% in April 2005 and subsequently to 70.62% in June 2005. In May 2024, OCBC completed the acquisition of PT Bank Commonwealth, which was integrated within the year. &ldquo We remain deeply committed to growing our business in Indonesia,&rdquo says Lee. On private credit, Tan says the bank has no direct exposure to private credit funds. Share price &lsquo can go higher if everyone buys more&rsquo Addressing questions about OCBC&rsquo s share price performance relative to DBS, Lee says the stock' s movement is linked to the bank&rsquo s performance and external circumstances. That said, OCBC&rsquo s share price &ldquo can go higher if everyone buys more,&rdquo Lee said, to laughter in the room. &ldquo It&rsquo s a serious answer. OCBC as an institution, we don&rsquo t go into the market to handle our own shares,&rdquo he explains. &ldquo For us, our share price is the result of things we do consistently over time [and the] decisions we make.&rdquo The market, which represents the views of investors, determines our share price, Lee adds. Over the past five years, OCBC&rsquo s shareholders have seen returns of about 2.5 times their investment, while 20-year total shareholder returns (TSR) stand at 7.5 times. The bank also has &ldquo no immediate plans&rdquo to tokenise its shares or to reinstate scrip dividends. Shares in OCBC closed 22 cents lower or 0.96% down at $22.66 on April 16. |
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Joelton
Supreme |
17-Apr-2026 10:55
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No further chances on GEH privatisation, says OCBC chairman Andrew Lee Oversea-Chinese Banking Corporation (OCBC) is not looking to privatise Great Eastern Holdings after its previous exercise in May 2024, says the bank&rsquo s chairman Andrew Lee at its annual general meeting (AGM) on April 16. Lee&rsquo s comments echo group CEO Tan Teck Long&rsquo s remarks made at the bank&rsquo s FY2025 results briefing on Feb 25. Back then, Tan said the exercise was a &ldquo chapter behind us already. We will not be looking at acquiring more GE shares in the foreseeable future.&rdquo OCBC has an equity stake of 93.7% in Great Eastern Holdings, which contributes to the bank&rsquo s bottom line and its dividend. For the FY2025 ended Dec 31, 2025, Great Eastern Holdings returned a profit of $1.125 billion to the bank. Great Eastern Holdings is an &ldquo integral part&rdquo of the bank&rsquo s whole of wealth strategy as well, Lee adds. When asked about lessons on the failed privatisation, Lee only noted that the bank had taken in &ldquo cargo that fits in nicely with the ship&rdquo . &ldquo We don&rsquo t buy anything that will struggle to integrate,&rdquo he says. He adds that shareholders interested in the insurer can buy and sell Great Eastern&rsquo s shares on the open market thereafter. Great Eastern reopened on the SGX on Aug 21, 2025, at $13.21. |
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seanpent
Supreme |
26-Mar-2026 09:42
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Yes. Have seen tenacity and resilience here. One possibility is that OCBC is very undervalued. | ||||
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Delvyss
Elite |
25-Mar-2026 14:06
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TP: 23 https://www.dbs.com.sg/treasures/aics/templatedata/article/equity/data/en/DBSV/012014/OCBC_SP.xml |
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Delvyss
Elite |
17-Mar-2026 11:30
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6 reasons the stock market is primed to rally after weeks of chaos, according to Jefferieshttp://6 reasons the stock market is primed to rally after weeks of chaos, according to Jefferies https://www.businessinsider.com/stock-market-outlook-rally-jobs-report-iran-oil-prices-ai-2026-3 |
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Delvyss
Elite |
11-Mar-2026 11:30
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Alpine & Singapore banks tap jittery Gulf NRIs, family foundations https://economictimes.indiatimes.com/nri/invest/alpine-singapore-banks-tap-jittery-gulf-nris-family-foundations/articleshow/129284891.cms?from=mdr |
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Joelton
Supreme |
11-Mar-2026 10:32
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OCBC sees regional transaction banking growth outpacing Singapore, senior executive says Transaction banking revenue is currently split about 60:40 between domestic and regional markets [SINGAPORE] OCBC expects its transaction banking business in regional markets to continue growing faster than in Singapore, the bank&rsquo s chief strategy and transformation officer Melvyn Low told Reuters. The faster growth in Singapore would be driven by quicker growth in regional fees and forex transactions tied to cross-border trade, and Chinese corporates expanding into South-east Asia, Low said in an interview. Transaction banking revenue is currently split about 60:40 between domestic and regional markets. &ldquo By the time we finish this year, I wouldn&rsquo t be surprised if the geographies earn closer to or maybe even more than Singapore, and that is considering a higher base also,&rdquo Low said. Low said the percentage contribution from overseas markets including Malaysia, Indonesia, Hong Kong and China to transaction banking revenue grew by more than 10 per cent in the past year. OCBC said fee income from cash management and foreign-exchange transactions grew 2 per cent in Singapore in 2025, compared with 9 per cent in regional markets. OCBC&rsquo s transaction banking revenue grew at about a 20 per cent annually over five years, while corporate current and savings account balances grew more than 10 per cent last year and trade balances rose over 20 per cent, he said. |
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Joelton
Supreme |
10-Mar-2026 10:55
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PhillipCapital and OCBC Group Research keeping their respective &lsquo buy&rsquo calls on Nordic following recent FY2025 results Both PhillipCapital and OCBC Group Research are maintaining &ldquo buy&rdquo on Nordic Group (SGX:MR7)following its recent FY2025 results. In his Mar 6 report, Hashim Osman of PhillipCapital says that Nordic Group&rsquo s 2HFY2025 and FY2025 PATMI met 49% and 87% of his FY2025 estimates. Despite a 16.8% y-o-y drop in revenue to $68.4 million in 2HFY2025, PATMI grew 18.9% y-o-y to $10.7 million. According to Osman, this was attributed to a 25.3% y-o-y drop in cost of sales to $47.2 million from the reversal of $3 million in unused project contingency provisions from the completed Malaysia projects and a 75% y-o-y decline in finance cost to $0.3 million in 2HFY2025 from debt repayment and lower interest rates. As project-based revenue is contingent on the timing of contracts awarded, Osman believes there will be an uplift for Nordic Group once the sales pipeline converts to orders. &ldquo Currently, total sales pipeline amounts to over $305 million, with project services making up the majority at $260 million (85%), while maintenance services make up $46 million (15%),&rdquo states Osman. Defence leads the pipeline of projects and typically converts into long-term maintenance contracts upon project completion, given the specialised nature of the work. From Osman&rsquo s perspective, the pipeline composition indicates a strong upcycle in higher-margin project services revenue that can further improve margins. With that, the analyst reduces the FY2026 forecast PATMI by 5% to account for gestation period before pipeline contracts convert and project-based revenue scales and potentially higher effective tax rate as Malaysia&rsquo s tax loss buffer is fully utilised as of FY2025. &ldquo We maintain a &ldquo buy&rdquo rating with an unchanged target price of 63 cents. Currently, Nordic Group is trading at 8.4 times FY2026 P/E ratio. The company is riding an upcycle in new projects from defence, batteries, marine and the semiconductor sector, which we expect to drive earnings growth,&rdquo concludes Osman. For Troy Cheng of OCBC Group Research, he sees Nordic Group&rsquo s solid contract wins will help to support growth momentum. In his Mar 6 report, he points out that Nordic Group&rsquo s order book expanded to $201.9 million as at end of FY2025, supported by a notable uplift in maintenance contracts, which provide a more recurring and stable income stream. &ldquo The book-to-bill ratio improved to 1.32 times, signalling strong demand visibility and underpinning potential revenue contribution for the next two financial years. Coupled with $119 million in contract wins across FY2025 and spanning deliveries through 2028, the group remains well positioned to sustain steady topline momentum,&rdquo says Cheng. At the same time, Cheng mentions that Nordic Group&rsquo s more than four decades of relationship with leading memory and semiconductor manufacturers will help provide a strong foundation for future growth, given the ongoing semiconductor tailwinds. &ldquo This positioning has become more meaningful as Micron is preparing to invest US$24 billion in its Singapore wafer fabrication facilities. The expansion reinforces Singapore&rsquo s importance as a global semiconductor hub and supports a stronger demand outlook for engineering service providers such as Nordic Group,&rdquo Cheng states. From Cheng&rsquo s perspective, against this backdrop, Envipure positions Nordic Group well to benefit from the expansion cycle, as it supplies hydraulic and water treatment systems that are essential in advanced semiconductor facilities. &ldquo This creates potential for new project awards as well as recurring maintenance work. Even as Micron&rsquo s new facility is expected to begin operations only in 2HFY2028, suggesting a medium-term earnings impact, the strengthening demand environment already enhances Nordic&rsquo s visibility and strategic positioning within the semiconductor ecosystem, in our view,&rdquo Cheng adds. As such, Cheng is reiterating his &ldquo buy&rdquo call with a higher fair value estimate of 60 cents for Nordic Group, up from 59 cents previously. The fair value is supported by an attractive upside potential of around 30% with the counter offering a decent FY2026 dividend yield of 4.6%, according to Cheng. &ldquo We apply an unchanged target P/E ratio multiple of 11.3 times to our forecasted FY2026 EPS of 5.28 cents,&rdquo concludes Cheng. As at 10.20am, shares in Nordic Group are trading 0.5 cents lower or 1.08% down at 45.5 cents. |
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Delvyss
Elite |
09-Mar-2026 08:40
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Wealthy Asians move funds from Dubai to Singapore as Middle East war raises riskshttps://www.telegraphindia.com/world/wealthy-asians-move-funds-from-dubai-to-singapore-as-middle-east-war-raises-risks/cid/2150090 |
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Joelton
Supreme |
27-Feb-2026 11:25
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OCBC&rsquo s new CEO Tan Teck Long pivots to Asean, wealth integration in new growth road map For 2026, he expects total income to be &lsquo stable to growing&rsquo , in part contributed by double-digit wealth growth [SINGAPORE] A strategic shift towards Asean, wooing the high net worth to expand OCBC&rsquo s wealth pie, and an intensified focus on technology &ndash these are some of the key strategies that the bank&rsquo s new group chief executive officer, Tan Teck Long, intends to spearhead. Tan, who took over from Helen Wong in January, laid out his plans for &ldquo the next frontier of growth&rdquo during the lender&rsquo s fourth-quarter results briefing for the period ended Dec 31 on Wednesday (Feb 25). &ldquo I assume that with a new CEO in town, there will be interest to hear our new strategy,&rdquo he quipped. He described four broad thrusts, the first of which is a &ldquo pivot to focus on (the) Asean domestic market&rdquo . But he stressed that Greater China &ndash which includes Hong Kong &ndash &ldquo remains important&rdquo to the lender. By geography, loans in Singapore, Malaysia and Indonesia made up about 57 per cent of OCBC&rsquo s S$341.1 billion in gross loans in the 2025 financial year, up marginally from about 56 per cent in FY2024. Over the same period, loans in Greater China declined to S$70.9 billion from S$74.5 billion. &ldquo There&rsquo s a huge opportunity for us (in Asean),&rdquo Tan said. &ldquo If there&rsquo s any inorganic opportunity in Asean, we will certainly want to take a look,&rdquo he added, noting that the lender would consider opportunities in mergers and acquisitions &ldquo as and when required&rdquo . The second push is a &ldquo franchise shift&rdquo , focused largely on wealth management. OCBC plans to step up cross-selling through a &ldquo whole-of-wealth&rdquo approach &ndash particularly through Bank of Singapore (BOS), its private banking arm, and Great Eastern Holdings (GEH), its insurance unit. At the same time, it will reinforce its twin wealth hubs of Singapore and Hong Kong. Tan cited servicing older clients as an example: deposit accounts for seniors through OCBC, succession planning via BOS, and retirement-focused insurance plans through GEH. The bank will also set up a new wealth management committee comprising Tan, BOS CEO Jason Moo, GEH group CEO Greg Hingston, and OCBC head of global consumer financial services Sunny Quek. The aim is to ensure a &ldquo coordinated tone from the top&rdquo so the group&rsquo s wealth heads can jointly lead new initiatives, said Tan. He also outlined several initiatives to further boost the bank&rsquo s wealth proposition. In Malaysia, for instance, OCBC plans to expand its affluent base through GEH&rsquo s ecosystem. He pointed out that the base in the insurer&rsquo s business there equates to almost half of Singapore&rsquo s population. He also ruled out further acquisition of shares in the insurer, following OCBC&rsquo s failed privatisation bid last July. The 93.7 per cent stake that the lender holds in GEH is &ldquo good enough&rdquo for collaboration, he said. As part of this wealth integration drive, the bank sharpened its gold strategy last year, with revenue from digital gold sales rising eightfold. Beyond digital retail access through its app, OCBC is also exploring the option of offering allocated physical gold to institutional and high-net-worth clients, he added. The wealth push comes as the lender&rsquo s non-interest income rose 16 per cent to S$5.46 billion in FY2025 from S$4.72 billion, driven partly by a 22 per cent increase in net fee income to S$2.41 billion. Wealth management fees jumped 33 per cent, with contributions across all product channels and regions, particularly Singapore and Hong Kong. They accounted for more than half of net fee income. Insurance income from GEH grew 17 per cent to S$1.07 billion for the full year. Overall, total income for FY2025 edged up 1 per cent to S$14.61 billion, while full-year net profit slipped 2 per cent to S$7.42 billion on higher taxes. Tech to power growth, net-zero still on track The third pillar centres on technology, such as financing the technology supply chain, including data centres. &ldquo We have been very successful in identifying and expanding our coverage of the TMT (technology, media and telecommunications) sector. In the last few years, we have managed to register double-digit growth,&rdquo said Tan. OCBC also intends to further harness technology &ndash artificial intelligence included &ndash internally, with the bank to make investments in this area. The fourth approach focuses on net-zero, with the continued financing of renewable energy projects and the greening of industries. This includes support for small and medium-sized enterprises. Even as Tan outlined his plans, he maintained that the bank is still &ldquo at the early stage of implementing the new corporate strategy&rdquo , and not in a position to disclose formal targets for returns on equity (ROE). He added, however, that the direction will focus on uplifting ROE over time. Guidance for 2026 For 2026, Tan expects total income to be &ldquo stable to growing&rdquo , in part through double-digit wealth growth. This is as net interest income could experience a &ldquo slight to moderate&rdquo decline, with net interest margins continuing to compress. The lender is guiding for mid-single-digit loan growth and a cost-to-income ratio in the low to mid-40 per cent range. Credit costs are expected to come in at between 20 and 25 basis points. OCBC also intends to maintain its 50 per cent ordinary dividend payout ratio, after paying out 60 per cent &ndash inclusive of special dividends &ndash in FY2024 and FY2025. While the payout ratio may be lower than in the past two years, Tan said the bank&rsquo s focus on growing total income through its four pillars could result in higher dividends in absolute terms over time. In Q4, the lender declared a final dividend of S$0.42 per share, up from S$0.41 in the year-ago period, and is proposing a special dividend of S$0.16 per share. These bring the total FY2025 dividend to S$0.99 a share. Q4 performance OCBC on Wednesday reported that its Q4 net profit rose 3 per cent to S$1.75 billion &ndash from S$1.69 billion in the year-ago period &ndash on stronger non-interest income. The result was above the S$1.72 billion consensus estimate in a Bloomberg survey of five analysts. Net interest income fell 6 per cent in Q4 to S$2.3 billion amid compressed yields, but this was offset by a 37 per cent surge in non-interest income to S$1.32 billion. Net interest margin narrowed by 29 basis points to 1.86 per cent during the quarter, from 2.15 per cent previously. The non-performing loan ratio was unchanged at 0.9 per cent, while total allowances declined 4 per cent to S$200 million. OCBC rounded off the earnings season for Singapore&rsquo s three local banks, following DBS on Feb 9 and UOB on Tuesday. Shares of OCBC finished Wednesday down 0.1 per cent or S$0.03 at S$21.40. |
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Joelton
Supreme |
26-Feb-2026 11:46
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OCBC favours special dividends over buybacks for excess capital, says new CEO Lender seeks to reward its long-term shareholder base, says Tan Teck Long [SINGAPORE] If there is excess capital to be returned, OCBC&rsquo s preference would be to do so through a special dividend rather than a share buyback scheme, group chief executive officer Tan Teck Long said on Wednesday (Feb 25). &ldquo I think a special dividend actually rewards our shareholders in a broader way... we really want to reward our long-term shareholder base,&rdquo said Tan, in response to queries raised during the lender&rsquo s fourth-quarter results briefing on how OCBC intends to deploy surplus capital. That said, he noted that capital would be needed to support growth under the bank&rsquo s new strategy, suggesting that accelerating shareholder returns may not be an immediate priority. At the briefing &ndash his first since taking over as group CEO in January &ndash Tan reaffirmed his commitment to the bank&rsquo songoing two-year S$2.5 billion capital return plan. The programme, comprising special dividends and share buybacks, is scheduled to run through to the end of the 2026 financial year. For FY2025, OCBC has proposed a special dividend of S$0.16 per share, equivalent to a 10 per cent payout ratio. This lifts its total dividend for the year to S$0.99 per share, representing 60 per cent of the group&rsquo s net profit. The lender has S$780 million remaining under the S$2.5 billion commitment, group chief financial officer Goh Chin Yee said at the briefing. &ldquo If we do not continue to execute our share buybacks for cancellation, we will return that in the form of dividends in FY2026,&rdquo she said. A special dividend involves distributing excess capital directly to shareholders in cash, while a share buyback sees the bank repurchase and cancel its own shares, which can lift earnings per share by reducing the share count. CET1 target On Wednesday, management also outlined plans to deploy the bank&rsquo s other capital for growth, including potential mergers and acquisitions (M& A). In the near term, OCBC is targeting a common equity tier 1 (CET1) ratio of 14 per cent, said Tan, though he acknowledged that a &ldquo concrete&rdquo timeline was difficult to specify. &ldquo I think it really depends on how we execute our strategy and the market environment,&rdquo he said. &ldquo If we grow very fast, we actually will need more capital to support M& A opportunities.&rdquo &ldquo We are committed to that 14 per cent (target) over the next few years, but we don&rsquo t have a concrete timeline for it,&rdquo he added. As at end-December 2025, OCBC&rsquo s CET1 ratio stood at 16.9 per cent on a transitional basis and 15.1 per cent on a fully phased-in basis. CET1 refers to a bank&rsquo s core capital expressed as a proportion of its risk-weighted assets under Basel III rules. A lower ratio, within regulatory buffers, can indicate that more capital is being deployed to support lending or acquisitions, while still meeting prudential requirements. Asked about gaps the bank has identified for potential acquisitions, Tan said OCBC&rsquo s focus will be on Asean markets, in line with its refreshed growth strategy. He added: &ldquo If the right portfolio comes along, we&rsquo ll be very keen in these markets, (and) to stay in this part of the world.&rdquo OCBC&rsquo s new CEO Tan Teck Long pivots to Asean, wealth integration in new growth road map For 2026, he expects total income to be &lsquo stable to growing&rsquo , in part contributed by double-digit wealth growth [SINGAPORE] A strategic shift towards Asean, wooing the high net worth to expand OCBC&rsquo s wealth pie, and an intensified focus on technology &ndash these are some of the key strategies that the bank&rsquo s new group chief executive officer, Tan Teck Long, intends to spearhead. Tan, who took over from Helen Wong in January, laid out his plans for &ldquo the next frontier of growth&rdquo during the lender&rsquo s fourth-quarter results briefing for the period ended Dec 31 on Wednesday (Feb 25). &ldquo I assume that with a new CEO in town, there will be interest to hear our new strategy,&rdquo he quipped. He described four broad thrusts, the first of which is a &ldquo pivot to focus on (the) Asean domestic market&rdquo . But he stressed that Greater China &ndash which includes Hong Kong &ndash &ldquo remains important&rdquo to the lender. By geography, loans in Singapore, Malaysia and Indonesia made up about 57 per cent of OCBC&rsquo s S$341.1 billion in gross loans in the 2025 financial year, up marginally from about 56 per cent in FY2024. Over the same period, loans in Greater China declined to S$70.9 billion from S$74.5 billion. &ldquo There&rsquo s a huge opportunity for us (in Asean),&rdquo Tan said. &ldquo If there&rsquo s any inorganic opportunity in Asean, we will certainly want to take a look,&rdquo he added, noting that the lender would consider opportunities in mergers and acquisitions &ldquo as and when required&rdquo . The second push is a &ldquo franchise shift&rdquo , focused largely on wealth management. OCBC plans to step up cross-selling through a &ldquo whole-of-wealth&rdquo approach &ndash particularly through Bank of Singapore (BOS), its private banking arm, and Great Eastern Holdings (GEH), its insurance unit. At the same time, it will reinforce its twin wealth hubs of Singapore and Hong Kong. Tan cited servicing older clients as an example: deposit accounts for seniors through OCBC, succession planning via BOS, and retirement-focused insurance plans through GEH. The bank will also set up a new wealth management committee comprising Tan, BOS CEO Jason Moo, GEH group CEO Greg Hingston, and OCBC head of global consumer financial services Sunny Quek. The aim is to ensure a &ldquo coordinated tone from the top&rdquo so the group&rsquo s wealth heads can jointly lead new initiatives, said Tan. He also outlined several initiatives to further boost the bank&rsquo s wealth proposition. In Malaysia, for instance, OCBC plans to expand its affluent base through GEH&rsquo s ecosystem. He pointed out that the base in the insurer&rsquo s business there equates to almost half of Singapore&rsquo s population. He also ruled out further acquisition of shares in the insurer, following OCBC&rsquo s failed privatisation bid last July. The 93.7 per cent stake that the lender holds in GEH is &ldquo good enough&rdquo for collaboration, he said. As part of this wealth integration drive, the bank sharpened its gold strategy last year, with revenue from digital gold sales rising eightfold. Beyond digital retail access through its app, OCBC is also exploring the option of offering allocated physical gold to institutional and high-net-worth clients, he added. The wealth push comes as the lender&rsquo s non-interest income rose 16 per cent to S$5.46 billion in FY2025 from S$4.72 billion, driven partly by a 22 per cent increase in net fee income to S$2.41 billion. Wealth management fees jumped 33 per cent, with contributions across all product channels and regions, particularly Singapore and Hong Kong. They accounted for more than half of net fee income. Insurance income from GEH grew 17 per cent to S$1.07 billion for the full year. Overall, total income for FY2025 edged up 1 per cent to S$14.61 billion, while full-year net profit slipped 2 per cent to S$7.42 billion on higher taxes. Tech to power growth, net-zero still on track The third pillar centres on technology, such as financing the technology supply chain, including data centres. &ldquo We have been very successful in identifying and expanding our coverage of the TMT (technology, media and telecommunications) sector. In the last few years, we have managed to register double-digit growth,&rdquo said Tan. OCBC also intends to further harness technology &ndash artificial intelligence included &ndash internally, with the bank to make investments in this area. The fourth approach focuses on net-zero, with the continued financing of renewable energy projects and the greening of industries. This includes support for small and medium-sized enterprises. Even as Tan outlined his plans, he maintained that the bank is still &ldquo at the early stage of implementing the new corporate strategy&rdquo , and not in a position to disclose formal targets for returns on equity (ROE). He added, however, that the direction will focus on uplifting ROE over time. Guidance for 2026 For 2026, Tan expects total income to be &ldquo stable to growing&rdquo , in part through double-digit wealth growth. This is as net interest income could experience a &ldquo slight to moderate&rdquo decline, with net interest margins continuing to compress. The lender is guiding for mid-single-digit loan growth and a cost-to-income ratio in the low to mid-40 per cent range. Credit costs are expected to come in at between 20 and 25 basis points. OCBC also intends to maintain its 50 per cent ordinary dividend payout ratio, after paying out 60 per cent &ndash inclusive of special dividends &ndash in FY2024 and FY2025. While the payout ratio may be lower than in the past two years, Tan said the bank&rsquo s focus on growing total income through its four pillars could result in higher dividends in absolute terms over time. In Q4, the lender declared a final dividend of S$0.42 per share, up from S$0.41 in the year-ago period, and is proposing a special dividend of S$0.16 per share. These bring the total FY2025 dividend to S$0.99 a share. Q4 performance OCBC on Wednesday reported that its Q4 net profit rose 3 per cent to S$1.75 billion &ndash from S$1.69 billion in the year-ago period &ndash on stronger non-interest income. The result was above the S$1.72 billion consensus estimate in a Bloomberg survey of five analysts. Net interest income fell 6 per cent in Q4 to S$2.3 billion amid compressed yields, but this was offset by a 37 per cent surge in non-interest income to S$1.32 billion. Net interest margin narrowed by 29 basis points to 1.86 per cent during the quarter, from 2.15 per cent previously. The non-performing loan ratio was unchanged at 0.9 per cent, while total allowances declined 4 per cent to S$200 million. OCBC rounded off the earnings season for Singapore&rsquo s three local banks, following DBS on Feb 9 and UOB on Tuesday. Shares of OCBC finished Wednesday down 0.1 per cent or S$0.03 at S$21.40. |
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hokpin
Supreme |
25-Feb-2026 16:56
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In term of the Dividend Yield based on the current share price, DBS is the best at ~ 5.5%.
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Joelton
Supreme |
25-Feb-2026 11:27
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OCBC Q4 profit up 3% to S$1.75 billion declares S$0.42 per share dividend It is also proposing a special dividend of S$0.16 per share, lifting its total FY2025 dividend payout to 60% of net profit [SINGAPORE] OCBC&rsquo s net profit for the fourth quarter rose 3 per cent, driven by a surge in non-interest income, the lender said on Wednesday (Feb 25). Net profit for the three months ended Dec 31, 2025 stood at S$1.75 billion, versus S$1.69 billion a year earlier. This was above the S$1.72 billion consensus estimate in a Bloomberg survey of five analysts. The lender declared a dividend of S$0.42 per share for the period, up from S$0.41 in the year-ago period. OCBC is also proposing a special dividend of S$0.16 per share, lifting its total FY2025 dividend payout to 60 per cent of net profit. Net interest income fell 6 per cent to S$2.3 billion, as asset yields compressed at a faster pace than deposit costs in a declining interest rate environment. Net interest margin narrowed by 29 basis points to 1.86 per cent, from 2.15 per cent previously. Non-interest income surged 37 per cent to S$1.32 billion on broad-based growth across fee, trading and insurance income. The non-performing loan ratio remained unchanged at 0.9 per cent. Total allowances fell 4 per cent to S$200 million. For the full year, net profit fell 2 per cent to S$7.42 billion. Tan Teck Long, group chief executive officer of OCBC, said: &ldquo Looking ahead, we remain cautious yet positive. Global conditions are likely to remain uncertain, shaped by geopolitical tensions, evolving trade dynamics and interest rate uncertainty.&rdquo This marks Tan&rsquo s first earnings statement as group CEO, after formally taking over the reins of South-east Asia&rsquo s second-largest lender in January. OCBC rounded off the earnings season for Singapore&rsquo s three local banks, following DBS on Feb 9 and UOB on Tuesday. Shares of OCBC closed 1.2 per cent, or S$0.26, lower at S$21.43 on Tuesday, ahead of the results release. |
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hokpin
Supreme |
25-Feb-2026 09:12
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x 0 Alert Admin |
OCBC is more generous than UOB!
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