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Or rise above 17
huattuatua ( Date: 24-Apr-2025 15:29) Posted:
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tomorrow xD will it drop below 16?
Singapore banks slated to cut capital buffers as they seek growth
https://asianbankingandfinance.net/news/singapore-banks-slated-cut-capital-buffers-they-seek-growth
Gunning for 17 again
Agree, bro 
FATABA ( Date: 22-Apr-2025 15:29) Posted:
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LOL these are by management decision .
SH can vote who to be a director etc BUT in most cases ....they are MINORITY SH .....only the major SSH can decide who to be directors etc
THat is life, the management team will decide on the direction of the company .
So SH can wait and listen .
SH can vote who to be a director etc BUT in most cases ....they are MINORITY SH .....only the major SSH can decide who to be directors etc
THat is life, the management team will decide on the direction of the company .
So SH can wait and listen .
Delvyss ( Date: 22-Apr-2025 14:48) Posted:
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Does shareholders have voting power over such agenda (GEH, Chulia St redevelopment, etc.)?
FATABA ( Date: 22-Apr-2025 14:32) Posted:
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it is always easy to explaint why u cannot accept this and that solution ...why not redevelop now etc.
AT THE END ...what is the solution ? which means everything !!.
GEH has to be resolve ...and what is the solution then .
I dont seem to hear any solution yet.
DYODD
AT THE END ...what is the solution ? which means everything !!.
GEH has to be resolve ...and what is the solution then .
I dont seem to hear any solution yet.
DYODD
Echoes ( Date: 22-Apr-2025 14:19) Posted:
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I attended the AGM .
He was jovial and light hearted during most of the proceedings but you can tell he is one who means business when the situation warrants it .
The whole room was quiet when he gave a lengthy update on the situation of GEH , and OCBC' s decisions on the redevelopment of Chulia St properties . Essentialy , suggestions by some to distribute GEH shares to OCBC shareholders , and to sell OCBC Centre as suggested by a writer from BT , were dismissed .
And most shareholders seemed to agree with him judging by the resounding applause he received after his speech .
He was jovial and light hearted during most of the proceedings but you can tell he is one who means business when the situation warrants it .
The whole room was quiet when he gave a lengthy update on the situation of GEH , and OCBC' s decisions on the redevelopment of Chulia St properties . Essentialy , suggestions by some to distribute GEH shares to OCBC shareholders , and to sell OCBC Centre as suggested by a writer from BT , were dismissed .
And most shareholders seemed to agree with him judging by the resounding applause he received after his speech .
MrBear12 ( Date: 22-Apr-2025 13:44) Posted:
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Reasonable chairman
Joelton ( Date: 18-Apr-2025 13:56) Posted:
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Catching the dip
OCBC Centre is &lsquo anchor&rsquo for the bank no plans to sell heritage site: board chairman
Lender has enough space and it is not timely to redevelop in current climate, says Andrew Lee
[SINGAPORE] OCBC has no plans to sell its properties in Singapore&rsquo s central business district &ndash and this includes the OCBC Centre, which has heritage value for the lender, said board chairman Andrew Lee.
Speaking at the lender&rsquo s annual general meeting (AGM) on Thursday (Apr 17), Lee noted that the lender had enough space for its operations at the moment, and it would also be untimely to redevelop given elevated construction costs.
In April 2024, OCBC said it was exploring the redevelopment of its Chulia Street property, first reported by The Business Times.
During its results briefing in February 2025, however, the lender said it will put its plans for redevelopment on hold.
Noting media reports suggesting the lender should sell its properties, Lee said at the AGM: &ldquo We are not taking up that suggestion. We&rsquo re quite happy with our building, with our complex and we want to keep it.&rdquo
The board chairman noted that construction costs are currently elevated, with redevelopment plans possibly amounting to S$4 billion to S$5 billion.
&ldquo Is this the right time to undertake &ndash in this climate &ndash such a massive project, which will strain the balance sheet of the bank&hellip (and which is) not contributing to the bottom line of the bank?&rdquo he said.
Lee said it was the board&rsquo s duty to look at its major assets and find areas for improvement. But these plans were &ldquo not necessarily for the near future&rdquo .
Of the three properties it was looking into, the OCBC Centre was located on freehold land, while its other two properties were on leasehold land with 42 years left.
OCBC should put its properties into a Reit and distribute the trust&rsquo s units to shareholders
Lee also noted that the lender has other properties, such as the nearby Bank of Singapore and Great Eastern buildings, and a new building in the upcoming Punggol Digital District, giving it ample space for operations.
&ldquo We are a bank, not a property developer, so if we have sufficient space, we do not need to redevelop more property than we need,&rdquo he said.
Meanwhile, Lee highlighted the historical significance of the OCBC Centre for the lender, noting that it is on the same site of where the bank was founded in 1932. The building is a national heritage site and serves as an &ldquo anchor&rdquo for OCBC.
&ldquo That site, that building, has a lot of history, has a lot of emotion for us, as the oldest continuing bank in Singapore,&rdquo said the board chairman.
&lsquo Fallacy&rsquo to say OCBC does not know insurance business: board chairman
Offer for Great Eastern &lsquo is very fair&rsquo for OCBC shareholders, says Andrew Lee
[SINGAPORE] It will be a fallacy to say that OCBC does not know the insurance business, given that its insurance arm, Great Eastern Holdings (GEH), has been associated with the banking group for the last three decades, said OCBC board chairman Andrew Lee.
OCBC does not need to be concerned about integration risks with GEH, having owned a large majority of the insurer&rsquo s shares since 2004, he said. Executives of both the bank and the insurer have &ldquo criss-crossed&rdquo , while board directors have both banking and insurance experience, he added.
&ldquo You want to go out and buy another bank when we already have this in our books?&rdquo
Lee was addressing shareholder concerns about OCBC&rsquo s acquisition of GEH at OCBC&rsquo s annual general meeting (AGM) for the financial year ended 2024. The event on Thursday (Apr 17) was attended by 1,740 shareholders.
A shareholder asked whether OCBC was paying too much for the acquisition, and if there was a better use of the capital.
Another shareholder asked about the rationale behind OCBC&rsquo s offer price, given that it was deemed not fair but reasonable by the independent financial advisor (IFA) to the deal.
On the offer price, Lee said OCBC had engaged &ldquo the investment bank of the world&rsquo s top bank&rdquo as its financial adviser. Offer documents name JP Morgan Securities Asia as the exclusive financial adviser for the deal.
&ldquo We paid millions for the advice, and the price that we offered for Great Eastern last year was based on the advice,&rdquo Lee said.
Noting suggestions to raise the offer price, he said whatever price it could offer would be outside the recommended range: &ldquo We cannot raise the offer (price) we are not a small-time business where we can raise (it) when we like. We have governance, we have processes.&rdquo
Shareholders also asked about the strategy behind the acquisition, as well as minority shareholder rights for OCBC shareholders.
Lee noted that GEH had &ldquo always been a part of&rdquo OCBC, and that the lender was unique in that it is not a pure-play bank.
Lee had also addressed concerns about the acquisition of GEH during FY2023&rsquo s AGM, at which he said OCBC should be seen as a &ldquo financial conglomerate&rdquo of many parts, setting it apart from the other two local banks in Singapore.
He said in jest at Thursday&rsquo s AGM that he has since been &ldquo corrected&rdquo that OCBC was, in fact, an &ldquo integrated financial services group&rdquo .
But he also reiterated that GEH would present OCBC synergistic benefits, such as cross-selling capabilities to GEH&rsquo s 16-million strong customer base, as well as profit contributions of nearly S$1 billion in FY2024.
He noted that OCBC&rsquo s strategy was to double down on the areas in which it has competitive advantage. This includes wealth management, to which GEH contributes.
Meanwhile, he said it &ldquo cannot be reasonable (and) sensible&rdquo to give out GEH shares &ndash worth around S$11 billion based on the price of S$25.60 &ndash for free to OCBC shareholders.
Giving out the shares would lower the dividends for OCBC shareholders, and &ldquo severely&rdquo hinder the group&rsquo s ability to generate future profits.
Lee said the lender cannot comment on future steps, given that it is waiting for the views of the IFA engaged by GEH for the deal.
He also noted that any comments made will be price sensitive for OCBC, which is still &ldquo alive and kicking&rdquo on the exchange, even though GEH is currently suspended.
&ldquo We are very fair&hellip to OCBC shareholders &ndash the board has exercised its fiduciary duty in keeping strictly with the process,&rdquo Lee said.
&ldquo That is the balance and prudence which we as directors of OCBC have practised. So there&rsquo s nothing that we are ashamed (of).&rdquo
A speck of light .....
Trump tariffs live updates: China signals readiness for talks if US shows respect amid ' numbers game'
https://finance.yahoo.com/news/live/trump-tariffs-live-updates-china-signals-readiness-for-talks-if-us-shows-respect-amid-numbers-game-191201017.html
Trump tariffs live updates: China signals readiness for talks if US shows respect amid ' numbers game'
https://finance.yahoo.com/news/live/trump-tariffs-live-updates-china-signals-readiness-for-talks-if-us-shows-respect-amid-numbers-game-191201017.html
Today guesstimates $16.14
Delvyss ( Date: 16-Apr-2025 15:10) Posted:
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Singapore banks seek regional growth amid global trade tensions
https://www.spglobal.com/market-intelligence/en/news-insights/articles/2025/3/singapore-banks-seek-regional-growth-amid-global-trade-tensions-87834028
Good begets good. Evil begets evil. :)
The saying: " the world will balance up by itself"
MrBear12 ( Date: 16-Apr-2025 15:24) Posted:
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What else can we do?
Delvyss ( Date: 16-Apr-2025 15:10) Posted:
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