Latest Forum Topics /
UOB
Last:38.55
+0.24
|
 Post Reply
|
|
SembM Re-Born Rich
|
|||||
|
FATABA
Supreme |
12-Jul-2021 17:11
|
||||
|
x 0
x 0 Alert Admin |
I would not be surprise MAS would announce this very soon ....DO NOT forget MAS need to give banks some time before their result announcement which wld be end Jul/Early aug ......for their finance to work out the allocation of dividend budget. so definately no 3/4 weeks. Dyodd
|
||||
| Useful To Me Not Useful To Me | |||||
|
ETLee8
Master |
12-Jul-2021 17:00
|
||||
|
x 0
x 0 Alert Admin |
Steady Lah, still got 3-4 weeks before q2 results, anything can happen during this period. Buy when there is deep correction will reap max profits.
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
FATABA
Supreme |
12-Jul-2021 16:55
|
||||
|
x 0
x 0 Alert Admin |
There is also a potential for special dividend .....as those large provision set asided in 2020 has to be put back to profit eventually Dyodd
|
||||
| Useful To Me Not Useful To Me | |||||
|
PhillipTan
Supreme |
10-Jul-2021 00:32
|
||||
|
x 0
x 0 Alert Admin |
After a year of reduced payouts, MAS may remove banks' dividend cap soon: PhillipCapitalAll eyes are on the Monetary Authority of Singapore (MAS) to review the dividend cap on local banks, which has been in place for a year, says PhillipCapital Research analyst Terence Chua. If Chua is right, the MAS could ease the restriction, which has capped the banks' total dividends per share at 60% of FY2019 levels. According to Chua, the MAS is running additional stress tests on the local banks to assess whether it is necessary to extend current dividend restrictions on them. It is in close discussions with the banks on their capital management plans and will be advising them on its position " very shortly" . In a July 8 note, Chua is maintaining " overweight" on the banking sector here, while maintaining " accumulate" on both DBS Group Holdings (target price $31.40) and United Overseas Bank (target price $28.70). Chua is also maintaining " buy" on Oversea-China Banking Corp (OCBC) with a target price of $14.63. " We believe MAS could ease the dividend cap as Singapore banks have kept sufficient capital buffers. We prefer DBS for sector exposure on account of its wealth management and investment banking franchises," says Chua. Earlier concerns that defaults among weaker corporates could strain banks' capital ratios have not materialised, writes Chua. Domestic banks have common equity tier-1 (CET-1) ratio at over 14%, which are higher than their pre-Covid-19 levels. " With total allowance coverage over 30% above MAS' regulatory limit, we believe the central bank could lift its dividend cap," he writes. Local lending rates rebounded in June. Interest rates reversed their decline in May, with 3M-SIBOR and 3M-SOR recovering to 0.43% and 0.24% respectively in June as Singapore transitions out of Phase 2 (Heightened Alert). Current 3M-SIBOR is 1bps higher than the 1Q2021 average of 0.42%. 3M-SOR is 2 bps lower than its 1Q2021 average of 0.26%. That said, domestic loans growth rose just 0.2% y-o-y in May, tracking below Chua' s expected range of 2% to 3% for 2021 but still above his expectations as concerns over loans growth slowing from Singapore' s move into Phase 2 (Heightened Alert) did not materialise. Business loans contracted for the ninth straight month by 0.5% y-o-y in May, even though business loans picked up for the month. Loans to the building and construction segment, the single largest business segment was up marginally by 0.1% for the second straight month to $152.37 billion, while loans to manufacturing reversed the decline in April to register a 5.1% gain. Consumer loans were up for the tenth straight month by 0.3% y-o-y in May, aided by strong loan demand in the housing segment. Housing loans, which make up three-quarters of consumer lending, extended their growth streak for the ninth straight month, up 2.6% y-o-y to $205.1 billion for the month. Overall loans through the domestic banking unit, which captures lending in all currencies but reflects mainly Singapore dollar lending, rose for the seventh consecutive month. They were up 0.2% in May to $693.7 billion, up from the 0.1% increase in April. " Despite the run-up in their share prices in 1H2021, we remain positive on banks. The banks have traded above 1.4x price to book value (P/B) over the last five years and are currently close to, or below, our P/B targets," writes Chua. Forward targets are supported by improving return on equity as allowances reverse in FY2021F, says Chua. " With total allowance coverage being over 30% above the MAS' regulatory limit, we believe there is further room for general provisions (GP) reversions in 2021. This would boost earnings." All the capital that banks have shored up for the past year could make for an attractive payout for shareholders, once MAS' cap is removed. " We believe the banks could pay out special dividends to adjust their high capital buffers," says Chua. As at 3.42pm, shares in DBS are trading 13 cents higher, or 0.44% up, at $29.67 while shares in UOB are trading 17 cents higher, or 0.66% up, at $25.75 and shares in OCBC are trading 15 cents higher, or $1.28% up, at $11.89. |
||||
| Useful To Me Not Useful To Me | |||||
|
laughingchartist
Senior |
07-Jul-2021 16:12
Yells: "Provides TA strategies to top tier FIs! Always up for a chat" |
||||
|
x 0
x 0 Alert Admin |
Hi peeps, I think price is bearish in the long term But on the short term, i would wait for a break of support before seeing price drop As always, please DYODD!  I have also included details of the DLC DEZW here 
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Fiat500
Veteran |
07-Jul-2021 16:01
|
||||
|
x 0
x 0 Alert Admin |
There's nothing to rave about! The gained from yesterday can't even last till today..
Bank stocks are hopeless here!
|
||||
| Useful To Me Not Useful To Me | |||||
|
Power152100
Senior |
07-Jul-2021 06:51
|
||||
|
x 0
x 0 Alert Admin |
Stand - by | ||||
| Useful To Me Not Useful To Me | |||||
|
PhillipTan
Supreme |
06-Jul-2021 23:07
|
||||
|
x 0
x 0 Alert Admin |
Maybank KE identifies potential ESG winners in economic transitionMaybank Kim Eng is positive that companies like DBS, Venture Corporation and ComfortDelGro offer strategic advantages as Singapore addresses the environmental, social and governance (ESG) challenges in the coming years.In its Singapore ESG Compendium released on Monday, Maybank KE analysts said that the nation faces threats from climate change and social and governance risks from its role as a regional financial centre. Yet, there are also opportunities for companies to reform and be greener as more investors seek sustainable and transparent companies post-pandemic. For instance, the top five performers in the SGX iEdge ESG Leaders index have outperformed their counterparts in the Straits Times Index by 616 per cent in 2020 alone, and by another 124 per cent year to date. Moving on to Singapore' s role as a regional financial hub, the analysts favour DBS, the Singapore Exchange (SGX) and UOB for their sustainability efforts. In describing DBS' s " critical role" in transition financing, the analysts cited the bank' s 2024 target of S$50 billion of sustainable finance, which equates to 45 per cent of incremental loans between now and then being green. Likewise, UOB' s 94 per cent increase in renewable energy, green transport, water and waste management financing was cited by the analysts as part of moves that will ensure sustainable growth for the bank. Meanwhile, SGX has taken steps to mitigate against disruption risks to its market and regulatory operations. SGX regularly conducts business continuity planning and pandemic scenario testing. Shares of DBS closed up 2.9 per cent to S$30.87, while UOB closed at S$26.37, up 1.74 per cent on Tuesday. SGX closed up 0.9 per cent at S$11.18. |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
PhillipTan
Supreme |
04-Jul-2021 19:17
|
||||
|
x 0
x 0 Alert Admin |
UOB restores disrupted UOB Mighty, Internet banking servicesUOB has restored access to its UOB Mighty and personal Internet banking services, which were disrupted on Sunday morning.It said that its systems remain secure, and clarified that its automatic teller machines (ATMs) were not affected by the issue. Customers started reporting issues with logging into the services before noon. UOB responded in a Facebook post at 12:56pm that it was working to resolve the matter, and apologised for the inconvenience caused. UOB told The Business Times that personal internet banking services were fully restored at 12.30pm and UOB Mighty services were restored just after 2pm. This is the second time in three weeks that customers have reported issues with a local bank. On June 18, some DBS customers found that transactions made using their credit and debit cards were charged twice. DBS said the issue was due to a payment processing glitch, and automatically refunded affected customers by the next day. |
||||
| Useful To Me Not Useful To Me | |||||
|
PhillipTan
Supreme |
01-Jul-2021 14:51
|
||||
|
x 0
x 0 Alert Admin |
UOB gets nod to switch interest rate benchmark for £ 350m floating-rate covered bonds due 2023 to SoniaUOB announced on Thursday that it has received approval from bondholders to convert the interest rate benchmark for its £ 350 million (S$650.7 million) floating-rate covered bonds due 2023 from sterling London Interbank Offered Rate (Libor) to the compounded daily Sterling Overnight Interest Rate Average (Sonia).This comes as Sonia, administered by the Bank of England, is identified as the replacement for Sterling Libor, which will be discontinued by the end of 2021. The interest basis for UOB' s covered bonds will be switched to compounded daily Sonia with effect from Aug 31, 2021 to coincide with the next interest payment date of the covered bonds, ahead of the year-end cessation of the sterling Libor. In a statement, UOB said that its move to convert the interest basis for its covered bonds to Sonia underscores its efforts in supporting the global transition of interbank offer rates to alternative reference rates, which are more robust replacement benchmarks underpinned by deep and liquid overnight funding markets. The covered bonds were issued in February 2018 under UOB' s US$8 billion Global Covered Bond Programme that was established in November 2015. Koh Chin Chin, UOB' s head of group central treasury unit, said that the timing of the conversion enables bondholders to benefit from the well-established procedures and adjustment mechanisms set through similar sterling Libor-to-Sonia consent exercises conducted by bank issuers in Europe and other jurisdictions. In addition, bondholders also gain from the greater transparency and liquidity of the Sonia-Libor basis used for the pricing adjustment, she added. Earlier in June, OCBC had obtained approval from holders of its £ 250 million floating-rate covered bonds due 2023 to replace the interest basis from sterling Libor to Sonia. |
||||
| Useful To Me Not Useful To Me | |||||
|
Starship
Supreme |
30-Jun-2021 14:48
|
||||
|
x 0
x 0 Alert Admin |
Today, evil shorties all caught with their ........................    
|
||||
| Useful To Me Not Useful To Me | |||||
|
Starship
Supreme |
30-Jun-2021 12:44
|
||||
|
x 0
x 0 Alert Admin |
Singapore to Conduct Bank Stress Tests to Assess Dividend Curbs June 30, 2021, 11:22 AM GMT+8 Singapore' s financial regulator is carrying out additional stress tests on banks to assess whether the current restrictions on dividends need to be extended. The central bank wants to make sure lenders are a ' source of strength' for the economy as ' quite a bit of uncertainties remain,' Monetary Authority of Singapore Managing Director Ravi Menon said during a briefing on its annual report on Wednesday. The stress tests will ' very much guide our decision going forward' and the MAS will advise on its decision ' very shortly.' Although concerns that defaults among weaker companies could strain bank' s profitability and capital positions haven' t materialized, problem loans can take time to surface, Menon said. Singapore' s cautious stance on dividend payouts comes as major U.S. banks announce plans to raise dividends after amassing cash piles that easily meet regulatory requirements. Regulators in the U.K. and Australia also eased restrictions on dividends payout last year. The MAS last July asked banks to cap their 2020 dividends at 60% of 2019 levels to ensure a sufficient flow of loans during the coronavirus pandemic. The regulator made the request as a preemptive measure after stress tests showed that local banks were resilient, it said at the time. https://www.bloomberg.com/news/articles/2021-06-29/singapore-to-focus-on-local-virus-cluster-trends-prevention  |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
PhillipTan
Supreme |
30-Jun-2021 11:25
|
||||
|
x 0
x 0 Alert Admin |
Singapore bank lending up 0.2% in May: MAS dataBank lending in Singapore rose 0.2 per cent in May as business loans pick up and loans to consumers hold steady, data from the Monetary Authority of Singapore showed on Wednesday.Loans through the domestic banking unit - which captures lending in all currencies but reflects mainly Singapore-dollar lending - were up for the seventh consecutive month to S$693.72 billion in May. Business loans ticked up 0.2 per cent month on month to S$428.48 billion in May after a flattish performance in April. Loans to the single largest business segment - building and construction - inched up 0.1 per cent for the second straight month to S$152.37 billion, while loans to manufacturing rose 5.1 per cent to S$28.26 billion to reverse the 3.4 per cent decline in April. Year on year, total business loans contracted for the ninth straight month by 0.5 per cent. Consumer loans continued its growth streak in May, up 0.3 per cent for the 10th straight month to S$265.25 billion. Year on year, total consumer loans were up 4.2 per cent. Overall, total bank lending in May increased by 1.2 per cent year on year, faster than the 0.4 per cent rise in April. |
||||
| Useful To Me Not Useful To Me | |||||
|
PhillipTan
Supreme |
30-Jun-2021 02:21
|
||||
|
x 0
x 0 Alert Admin |
UOB loses suit against Lippo over claims of inflated loans, plans to appealUOB has lost a long-running legal tussle against developer Lippo Marina Collection (LMC), with the Singapore High Court throwing out the bank' s claims that Lippo had inflated mortgages to get higher housing loans.The bank said it will be appealing the court' s decision. It is seeking to recover about S$181 million disbursed to purchase 38 units at Marina Collection, a luxury condo at the wealthy enclave at Sentosa Cove. UOB is represented by lawyers from Tan Kok Quan Partnership. In a lawsuit first filed in November 2014, UOB alleged that LMC - a subsidiary of Indonesia' s Lippo Group - had conspired with two property agents to offer " excessive" furniture rebates provided to buyers, inflating the stated sale prices of units at the Marina Collection. The bank had claimed it was thus misled into granting housing loans based on the inflated stated sale prices, instead of actual purchase prices of the units. High court Judge Aedit Abdullah dismissed all claims against LMC, but the bank succeeded in its allegations of misrepresentations against property agents Goh Buck Lim, also known as Rick Goh, and Aurellia Ho, court documents seen by The Business Times showed. Justice Aedit said that the claim of deceit was made out against the duo, but their liabilities do not make a substantial difference to the outcome. The judge also said the bank failed to prove that the three defendants conspired to harm the bank. " Preventing the plaintiff bank from coming to know of information does not mean that there was a combination or agreement to commit unlawful acts against the bank. There has to be something more, tying the alleged agreement to a plan employing the use of unlawful means," ruled Justice Aedit. " Suppressing or hiding information about the furniture rebates does not involve such a link since there was no duty to disclose. Rather, it could only be actionable if it was part of a larger web of agreements to employ unlawful means." Justice Aedit added that he was " doubtful" over the claim of conspiracy that the bank' s loan was made on something other than what was defined as the " true price" . " There is no true price for real property these are not marked to market as are securities, nor is there any market that can indicate the true market price. As the evidence showed that the price expressed on the loans were within what would have been accepted as reasonable valuations, I am unable to conclude that there was any harm occurring to the bank in this manner." The court heard that in December 2011, LMC' s general manager Woo Pui Lim had entered into an agreement with Mr Goh to grant furniture rebates to purchasers. UOB alleged that the plot to get inflated home loans led the bank to finance S$4.9 million - in excess of the property' s actual price. In some cases, the rebates ran up to 34.5 per cent of the stated purchase prices, the bank had claimed. LMC, which is represented by Drew & Napier, denied the conspiracy. It claimed that furniture rebates were a common marketing tool used by many developers to court potential home buyers. It said instead that UOB was " the victim of its poor internal system of checks" that allowed itself to be " manipulated by" property agents Goh and Ho, as well as then-UOB salesperson Ann Ong, in extending the inflated loans. " Unfortunately, the risk of default (which exists in all housing loans) came true in this case at a time when a dampened property market meant that UOB could not recover the amounts owing on the loans by simply enforcing the mortgage and selling the properties," LMC' s lawyers had said. The Marina Collection was launched for sale in late 2007, but sales were hampered after a series of cooling measures - with only 42 of its 124 units sold by March 10, 2011. UOB had also claimed that the conspiracy allowed LMC to dispose of the units. |
||||
| Useful To Me Not Useful To Me | |||||
|
PhillipTan
Supreme |
25-Jun-2021 09:21
|
||||
|
x 0
x 0 Alert Admin |
UOB to double wealth income by 2026, launches digital investment offeringUOB said on Thursday that it aims to double its wealth income and increase its assets under management (AUM) compound annual growth rate by double digits in five years, as part of its plan to capitalise on the burgeoning base of the emerging affluent in the region.This comes amid a push by the bank to democratise access to wealth management solutions with the launch of its new digital investment offering known as SimpleInvest, which allows customers to invest for as low as S$100 from three portfolios based on their objectives and risk appetite. With digital adoption accelerated over the past year due to Covid-19, the bank is expecting one in four customers to carry out digital self-serve wealth transactions in two years. This is up from the 10 per cent who do so currently, said Jacquelyn Tan, head of Group Personal Financial Services, UOB. In a media briefing on Thursday, she announced that the bank will pump in more than S$200 million in digital innovation over the next three years to serve consumers. SimpleInvest is among UOB' s suite of digital wealth solutions that will enable customers to choose from three portfolios on its banking app UOB Mighty called " Liquidity" , " Income" and " Growth" , in ascending order of risk. Unlike a robo-advisory, the portfolios will be actively managed. UOB had partnered UOB Asset Management to develop the " Income" and " Growth" portfolios which invest in funds selected by the bank, with funds actively managed by asset managers such as Allianz, Fidelity international, JPMorgan Asset Management, Schroders and UBS Asset Management. Meanwhile, the " Liquidity" portfolio will be managed by UOB Asset Management directly. The " Liquidity" portfolio will invest in high-quality bonds, money market instruments and bank deposits, while the " Income" portfolio will invest in fixed income, equity and multi-asset funds. The " Growth" portfolio will invest in equity funds diversified across sectors and regions which are beneficiaries of structural growth themes such as healthcare, artificial intelligence, and sustainability. There will be a 0.8 per cent sales charge deducted from the investment amount. Ms Tan said that during the pilot, two in three customers were either millennials or those who parked money in a savings account and wanted to make their money work harder. One in three has also gone on to set up regular investment plans. " While the barriers to accessing digital financial solutions have lowered, our research has shown that consumers can feel overwhelmed by a plethora of products," she noted. " Our approach is to guide customers to the solutions that make the most sense for their financial goals and we use a combination of human expertise and technology to do so." UOB' s SimpleInvest will be progressively rolled out across the other markets in the region over the next few years. When asked if UOB is slow to the game as rival banks and fintechs have already rolled out various investment products ranging from curated portfolios to robo-advisors over the past few years, Ms Tan only said that the bank focused on being " very thoughtful" in the way the product was structured. " We really took the time to understand what is it, from a customer' s perspective, is important to them, and how we can address it through simple solutions and transparency in fees," she said. " It needs to fit in the strategic intent and a bigger story, otherwise we are just growing in parts." This drive to expand digital wealth management solutions for customers is in line with UOB' s omni-channel approach, said Ms Tan. She cited the bank' s research which found that two in three customers still prefer face-to-face wealth advisory for more complex financial transaction. While the bank continues to ramp up digital investments, it is also constantly reviewing its physical network to better serve customers, added Ms Tan. The bank has repurposed several of its branches over the years to include more space for wealth management advisory and offloading low-value transactions, with this trend likely to continue. She believes that the bank' s omni-channel approach to wealth management also puts it in good stead to fend off digital bank rivals that will start operations next year. " Yes, we think we are well-positioned even with the digital banks coming in, because our transformation journey started many years ago," she said, adding that there will be more such innovations in the pipeline for UOB. |
||||
| Useful To Me Not Useful To Me | |||||
|
Inferno
Senior |
14-Jun-2021 20:30
|
||||
|
x 0
x 0 Alert Admin |
Wait? I do not think it will surpass DBS again in the next few years unless something negative happens to DBS. Just need UOB to trend up because it is a laggard during this covid recovery.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Starship
Supreme |
14-Jun-2021 18:08
|
||||
|
x 0
x 0 Alert Admin |
|
||||
| Useful To Me Not Useful To Me | |||||
|
FATABA
Supreme |
14-Jun-2021 16:17
|
||||
|
x 0
x 0 Alert Admin |
Over this period , while DBS has got India LV bank n a China security licence. WHat has UOB management offer ...wait . Honestly UOB need agressive management . They need to wake up immediately . Watch OCBC nex few quarters w new lady CEO. Quality of CEO do count a lot for a whole company. Dyodd
|
||||
| Useful To Me Not Useful To Me | |||||
|
FATABA
Supreme |
14-Jun-2021 16:06
|
||||
|
x 0
x 0 Alert Admin |
Currently , Southern China region / pearl river delta is a great growth area for banks OCBC n DBS both have strong position there. Seem UOB focus is still sme and Southeast Asia. Honestly quality of CEO also count .....unfortunately. Dyodd |
||||
| Useful To Me Not Useful To Me | |||||
|
yumsang
Member |
14-Jun-2021 14:15
|
||||
|
x 0
x 0 Alert Admin |
thought uob exposure in china is the least among the 3 banks. uob focus more in regional SEA hence its share price upside is restricted by the serious covid situation in the region.
|
||||
| Useful To Me Not Useful To Me | |||||