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Okay lah, wait for final dividend, rumour that boss Eechao will pay a double dividend.. hope only?hahaha
Lobster ( Date: 11-Aug-2021 15:27) Posted:
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Actually everything is up across the board but the bad thing is EeChao did not keep his promise to pay an interim. Naughty old fella! But the good thing is the price is up, even though no dividends. I got to ask him or his aide, who is lurking here, why why why no interim....!
Earnings have 1st half ended 30 June 2021 of $93mill is 12% higher than $83mill for 2nd half ended 31 Dec 2020....good. I will hold tight.
wehuattogether88 ( Date: 11-Aug-2021 09:20) Posted:
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UOB Kay Hian has reported earnings of $93 million for the six months ended June 30, up 22.4% from the year earlier period.
Revenue for the same 1HFY2021 was $339.7 million, up from $269.5 million in the same period last year, thanks to a strong volume of trading activity.
wehuattogether88 ( Date: 11-Aug-2021 09:15) Posted:
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UOB Kay Hian 1H2021 results very good.
Coming Full year will be fantastic.
Coming Full year will be fantastic.
avang_ ( Date: 04-Aug-2021 16:23) Posted:
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UOB released their H1 2021 results. Share of profit of associates and joint ventures in H1 2021 is $70m compared to $40m in H1 2020 and $58m in H2 2020. There is a possibility that UOBKH will post a record profit.
Both analysis were informative. Thanks.
SGX Market Statistics
SGX' s monthly Market Statistics can also give us an insight into the trading activities on SGX (https://www.sgx.com/research-education/historical-data/market-statistics).
One of the statistics reported is the " Securities Number of Trades" which as the name implies is the number of trades executed on SGX. While it doesn' t tell us about each brokers' market share, it can still give us a sensing of UOBKH' s earnings. The table below shows the YoY percentage change in number of trades as well as the percentage increase in UOBKH' s commission income in FY 2020.
Below is the comparison for H1 2020 and 2021. While there is a decline in the number of trades, we can see that it is still higher compared to 2019. Thus, we can expect UOBKH' s H1 2021 commission income to be similar or slightly lower than H1 2020.
Avang
SGX' s monthly Market Statistics can also give us an insight into the trading activities on SGX (https://www.sgx.com/research-education/historical-data/market-statistics).
One of the statistics reported is the " Securities Number of Trades" which as the name implies is the number of trades executed on SGX. While it doesn' t tell us about each brokers' market share, it can still give us a sensing of UOBKH' s earnings. The table below shows the YoY percentage change in number of trades as well as the percentage increase in UOBKH' s commission income in FY 2020.
| Total Securities Number of Trades | 2019 | 2020 | % Change in Number of Trades | % Increase in UOBKH Commission Income |
| H1 | 35,980,453 | 56,551,000 | 57.17% | 90% |
| H2 | 36,897,730 | 51,153,826 | 38.64% | 93.4% |
Below is the comparison for H1 2020 and 2021. While there is a decline in the number of trades, we can see that it is still higher compared to 2019. Thus, we can expect UOBKH' s H1 2021 commission income to be similar or slightly lower than H1 2020.
| Total Securities Number of Trades | 2020 | 2021 | % Change in Number of Trades |
| H1 | 56,551,000 | 50,691,002 | -10.4% |
Avang
Joys of summer &ndash Malaysia
Listening it from the horse&rsquo s mouth
To assess a firms financial performance, one need not necessarily wait till the announcement of its financial results. Occasionally, the sharp-eyed investor will find himself bountifully rewarded by keeping close tabs on the sources on the ground. In the case of a firm involved in the manufacturing and sale of consumer products, this might involve having frequent interactions with customers (the end-users) who are actually using the products.
Likewise, for a securities brokerage like UOBKH, there is likely no better way to assess its performance than through the platform that actually process the transactions &ndash Bursa Malaysia.
Using the broker ranking as a gauge for UOBKH (Malaysia) performance
Bursa Malaysia releases a broker ranking for the top 15 brokers (in terms of trading value) on a monthly basis. The full lists may be accessed via the following link:
https://www.bursamalaysia.com/trade/trading_resources/brokers_for_equities/broker_ranking?year=2021
Decent performance for UOBKH (Malaysia) in 1H2021
Based on the June 2021 broker ranking, UOBKH was ranked 13th year-to-date with a trading value of RM30.8 bil processed.
In terms of market share (by trading value), UOBKH market share of 2.84% for the 6 months ended June 2021 was also a notch higher than the 2.52% for the 12 months ended Dec 2020, indicating that UOBKH probably garnered increased interest amongst investors in Malaysia.
Broker rankings a reasonably good indicator of UOBKH revenue from Malaysia
To assess the accuracy afforded by this indicator, back-testing is required. As shown in Table 1 below, UOBKH Malaysia had about RM21 bil of trading value in 2019 (based on broker ranking and own estimates). In 2020, this figure was RM54 bil, or a 157% increase.
Table 1: Trading value and UOBKH (Malaysia) revenue and profits
Source: Bursa Malaysia, UOBKH financial statements
Note: UOBKH does not reveal segmental results in interim reports
Based on UOBKH 2020 financial statements, the total revenue recorded from Malaysia was SGD71 mil, as compared to SGD27 mil in 2019, an increase of approximately 161%. Hence, one can say with reasonable confidence that the trading value as shown in the broker rankings is a good indicator of revenue recorded by UOBKH Malaysian operations.
For 1H2021, the RM30.8 bil trading value processed was an improvement of about 70% over the approximately RM18.3 bil recorded for 1H2020.
Growth in profits typically greater than that of revenue
Further analysis of UOBKHs 2020 financial statements would indicate that even though revenue increased by 161%, profit before tax from Malaysia surged by about 4 times to $21 mil (2019: $5 mil), as shown in Table 1 above. A cursory look at UOBKH Profit & Loss statement for 2020 would also indicate that while total income recorded a YoY increase of 58.6 percent, total costs increased by a smaller magnitude of 38.9 percent, resulting in a more than proportionate increase in bottom line of 130%.
A reasonably healthy 2021 awaits
We have earlier analyzed UOBKH Thai associate 1Q21 performance, which shows a 50% YoY increase in profits. The current analysis for UOBKH (Malaysia) points to a similarly encouraging picture (with trading value up 70% YoY, profits is likely to have increased by the same clip or more).
Opportunities do not come by often. Identify and act on it.
Happy investing and stay safe, cheers!
Uncovering_Value
Listening it from the horse&rsquo s mouth
To assess a firms financial performance, one need not necessarily wait till the announcement of its financial results. Occasionally, the sharp-eyed investor will find himself bountifully rewarded by keeping close tabs on the sources on the ground. In the case of a firm involved in the manufacturing and sale of consumer products, this might involve having frequent interactions with customers (the end-users) who are actually using the products.
Likewise, for a securities brokerage like UOBKH, there is likely no better way to assess its performance than through the platform that actually process the transactions &ndash Bursa Malaysia.
Using the broker ranking as a gauge for UOBKH (Malaysia) performance
Bursa Malaysia releases a broker ranking for the top 15 brokers (in terms of trading value) on a monthly basis. The full lists may be accessed via the following link:
https://www.bursamalaysia.com/trade/trading_resources/brokers_for_equities/broker_ranking?year=2021
Decent performance for UOBKH (Malaysia) in 1H2021
Based on the June 2021 broker ranking, UOBKH was ranked 13th year-to-date with a trading value of RM30.8 bil processed.
In terms of market share (by trading value), UOBKH market share of 2.84% for the 6 months ended June 2021 was also a notch higher than the 2.52% for the 12 months ended Dec 2020, indicating that UOBKH probably garnered increased interest amongst investors in Malaysia.
Broker rankings a reasonably good indicator of UOBKH revenue from Malaysia
To assess the accuracy afforded by this indicator, back-testing is required. As shown in Table 1 below, UOBKH Malaysia had about RM21 bil of trading value in 2019 (based on broker ranking and own estimates). In 2020, this figure was RM54 bil, or a 157% increase.
Table 1: Trading value and UOBKH (Malaysia) revenue and profits
| 2019 | 2020 | YoY | 1H2020 | 1H2021 | YoY growth in 1H21 | |
| Trading Value (RM bil) | 21 | 54 | 157% | 18 | 31 | 69% |
| UOBKH segmental revenue from Malaysia (S$ mil) | 27 | 71 | 161% | na | na | na |
| UOBKH segmental Profit from Malaysia (S$ mil) | 5 | 21 | 320% | na | na | na |
Note: UOBKH does not reveal segmental results in interim reports
Based on UOBKH 2020 financial statements, the total revenue recorded from Malaysia was SGD71 mil, as compared to SGD27 mil in 2019, an increase of approximately 161%. Hence, one can say with reasonable confidence that the trading value as shown in the broker rankings is a good indicator of revenue recorded by UOBKH Malaysian operations.
For 1H2021, the RM30.8 bil trading value processed was an improvement of about 70% over the approximately RM18.3 bil recorded for 1H2020.
Growth in profits typically greater than that of revenue
Further analysis of UOBKHs 2020 financial statements would indicate that even though revenue increased by 161%, profit before tax from Malaysia surged by about 4 times to $21 mil (2019: $5 mil), as shown in Table 1 above. A cursory look at UOBKH Profit & Loss statement for 2020 would also indicate that while total income recorded a YoY increase of 58.6 percent, total costs increased by a smaller magnitude of 38.9 percent, resulting in a more than proportionate increase in bottom line of 130%.
A reasonably healthy 2021 awaits
We have earlier analyzed UOBKH Thai associate 1Q21 performance, which shows a 50% YoY increase in profits. The current analysis for UOBKH (Malaysia) points to a similarly encouraging picture (with trading value up 70% YoY, profits is likely to have increased by the same clip or more).
Opportunities do not come by often. Identify and act on it.
Happy investing and stay safe, cheers!
Uncovering_Value
Advance indicators flag a healthy year-on-year growth in 1H2021 earnings
While UOBKHs earnings will only be released around mid-August, one might not necessarily need to wait till then to have a gauge of the earnings growth. Over this weekend, I will be detailing one such indicator which potentially shows a 50% jump in earnings for 1H2021 in one of UOBKHs key markets.
Stay tuned till then!
Happy investing and stay safe, cheers!
Regards,
Uncovering_Value
While UOBKHs earnings will only be released around mid-August, one might not necessarily need to wait till then to have a gauge of the earnings growth. Over this weekend, I will be detailing one such indicator which potentially shows a 50% jump in earnings for 1H2021 in one of UOBKHs key markets.
Stay tuned till then!
Happy investing and stay safe, cheers!
Regards,
Uncovering_Value
Look forward to good news.
Lobster ( Date: 04-Jun-2021 17:23) Posted:
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I have hold it very very long, Frankly, the dividends paid over the years has been able to offset all the cost of my UOBKayHian stock and even more.
crystalbee ( Date: 25-Jun-2021 11:09) Posted:
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Good to have in portfolio. Low risk and good yield. I am holding tight.
wehuattogether88 ( Date: 25-Jun-2021 10:55) Posted:
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UOB KayHian is obviously to buy and keep and wait for dividend payout twice every year. Good!!
Super high trading volume for Sembcorp Marine today. Good boost for commission income for half year end 30 June 2021 earnings. Look forward 
Relac la!!
EeChao has texted me that he had ordered all his top management to take up scrip dividends instead of cash.
surely, he doesn' t want to lose out if price were to fall below issue price..., so this can only means an indication of some positivity to come. August 12 could an eventful day.
EeChao has texted me that he had ordered all his top management to take up scrip dividends instead of cash.
surely, he doesn' t want to lose out if price were to fall below issue price..., so this can only means an indication of some positivity to come. August 12 could an eventful day.
I agreed fully and that UOB KayHian might soon move to match its NAV which is around $2
crystalbee ( Date: 22-Jun-2021 13:23) Posted:
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Agree. Growth for main course and yield for dessert.....lol.
wehuattogether88 ( Date: 22-Jun-2021 13:12) Posted:
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Definitely confident with the UOB KayHian management, it is a money generating business and high dividend stock.
Uncovering_Value ( Date: 22-Jun-2021 09:27) Posted:
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Cause for concern, or nothing to be alarmed?
Just last Monday (14 Jun), UONKH closed at $1.63. Over the next few trading sessions, however, the price has saw a gradual decline. No doubt, some selling pressure might have been due to insider moves. From 15-18 Jun, a total of about 700,000 shares was disposed by Director Mr Tang at an average price of $1.60. More info details can be found in the following table:
Net gain in shares post-dividend was much higher:
However, Mr Tang had also opted for scrip shares for the recent dividend paid out. Consequently, the increase in the number of shares held by him was 2.6 mil shares (including the deemed interest held by his spouse). As a results, despite the sale of 700,000 shares in the open market, the net gain was still a respectable 1.9 mil shares. More details of the change in interest arising from the acceptance of scrip can be accessed via the link below:
https://links.sgx.com/FileOpen/_eFORM1V2-TWL-SDS%20FYE2020%2021062021.ashx?App=Announcement& FileID=671787
In essence, Mr Tang had decided to opt for shares in UOBKH at a price of $1.495 (based on the price dividend in shares was to be calculated at).
Sale of shares could be due to myriad of reasons:
The sale of shares of well-functioning enterprises can be oftentimes be due to a myriad of reasons. Short-term cash needs for emergencies are just one of them. Nonetheless, what one can be sure of is that if an insider opts for scrip shares at $1.495 instead of collecting cash dividends, it reflects the confidence one has in the enterprise.
Happy investing and stay safe, cheers!
Uncovering_Value
Just last Monday (14 Jun), UONKH closed at $1.63. Over the next few trading sessions, however, the price has saw a gradual decline. No doubt, some selling pressure might have been due to insider moves. From 15-18 Jun, a total of about 700,000 shares was disposed by Director Mr Tang at an average price of $1.60. More info details can be found in the following table:
| Shares disposed | Price | |
| 15-Jun | 182,900 | $ 1.62 |
| 16-Jun | 222,700 | $ 1.61 |
| 17-Jun | 115,200 | $ 1.59 |
| 18-Jun | 183,700 | $ 1.57 |
| TOTAL | 704,500 | $ 1.60 |
Net gain in shares post-dividend was much higher:
However, Mr Tang had also opted for scrip shares for the recent dividend paid out. Consequently, the increase in the number of shares held by him was 2.6 mil shares (including the deemed interest held by his spouse). As a results, despite the sale of 700,000 shares in the open market, the net gain was still a respectable 1.9 mil shares. More details of the change in interest arising from the acceptance of scrip can be accessed via the link below:
https://links.sgx.com/FileOpen/_eFORM1V2-TWL-SDS%20FYE2020%2021062021.ashx?App=Announcement& FileID=671787
In essence, Mr Tang had decided to opt for shares in UOBKH at a price of $1.495 (based on the price dividend in shares was to be calculated at).
Sale of shares could be due to myriad of reasons:
The sale of shares of well-functioning enterprises can be oftentimes be due to a myriad of reasons. Short-term cash needs for emergencies are just one of them. Nonetheless, what one can be sure of is that if an insider opts for scrip shares at $1.495 instead of collecting cash dividends, it reflects the confidence one has in the enterprise.
Happy investing and stay safe, cheers!
Uncovering_Value