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UOB
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ecekca
Elite |
02-Jan-2016 15:16
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botak buyer of haw par u know
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john_ric
Supreme |
02-Jan-2016 13:35
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Agreed. Look at oveaseas, in HK, the Li KS family is another family empire. in Malaysia the sugar King business empire too. So dont blindly follow people to say that good business governance must be from outsiders.
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spore1
Supreme |
01-Jan-2016 12:26
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UOB is gaining strength to head higher. http://sporeshare.blog spot.sg/2015/12/uob.html |
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Qanghoo
Supreme |
18-Dec-2015 07:52
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Actually, I don' t share the view that for family controlled conglomerates shd make way for ' outside professionals' . Some family controlled coys are at the forefront of the competition. Take the three local banks for example. This botak case to me is a good example. The other one that easily comes to mind is the Hong Leong empire across Malaysia, Spore n globally ..... solid.
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Qanghoo
Supreme |
17-Dec-2015 23:52
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Made of Botaks. That matters, doesn' t it. two generations of botak from same family - better control, less conflict, perhaps. Althought OCBC also familee controlled, top management more outsiders.
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lglg666
Supreme |
17-Dec-2015 16:28
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The best of the 3.....at last, this one shows what it's made of? | ||||
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vivivava
Veteran |
30-Nov-2015 09:36
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Old man already spend $2m....if down he will sure to buy somemore. Everyday UOB got sharebuy back...no break yet |
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Qanghoo
Supreme |
29-Nov-2015 16:45
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The wily old man himself who over four decades pounced on opportunities to acquired five banks (I think) to build UOB to its present solid position today.
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ecekca
Elite |
29-Nov-2015 16:28
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who botak?
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Qanghoo
Supreme |
27-Nov-2015 22:05
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Apart from the buybacks, maybe botak himself is waiting for the cks to strangle the shares further before showing his hand to scoop up some more for himself.
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polarinda
Master |
27-Nov-2015 21:52
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trend broken 2 days in a row |
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vivivava
Veteran |
26-Nov-2015 22:01
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whack big today...5 days of sharebuy back
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vivivava
Veteran |
26-Nov-2015 09:05
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another round of buybacks....value is obvious..3 days in a row
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vivivava
Veteran |
25-Nov-2015 11:40
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another share buyback
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vivivava
Veteran |
24-Nov-2015 10:13
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buyback was somewhat small though.
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vivivava
Veteran |
24-Nov-2015 10:05
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it also just started its share buy back program once again....a move not seen in a while....since april 15 i think |
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ytoh1688
Veteran |
24-Nov-2015 09:57
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UOB raising USD 8bil of funds......a smart move in this interest rate low environment or? |
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vivivava
Veteran |
20-Nov-2015 11:49
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http://infopub.sgx.com/FileOpen/UOB%20Investor%20Presentation%20-%20Nov%202015.ashx?App=Announcement& FileID=377179 anyone looked at this? any comments? The dividend this year looks like its going to blow previous years out of the water. Looked at the last page. very informative. |
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vivivava
Veteran |
03-Nov-2015 10:45
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UOB&rsquo s ($20.33, up 0.29) earnings for 3Q15 decreased marginally by 1.0% yoy, but was up 12.6% qoq at $858 million, coming in about 5.3% above expectaƟ ons. Total income was 5.8% higher at $2.09 billion, led by strong core income and one-off gains from sale of investment securiƟ es. Net interest income grew 6.9% to $1.24 billion in 3Q15. Net interest margin increased 6 basis points to 1.77%, contributed mainly by improved loan yields as the loan porƞ olio re-priced on rising interbank and swap off er rates. Fee and commission income grew 2.1% to $485 million, on higher contribuƟ ons from credit card and wealth management income. Trading and investment income surged 20.6% to $310 million due to one-off gains from the sale of investment securiƟ es, but partly off set by lower net trading income. Consequently, non-interest income for 3Q15 increased 4.2% to $850 million. Total expenses increased 13.0% to $904 million mainly on higher headcount and increased business volumes in support of franchise growth. Expense-to-income raƟ o was 43.4% in 3Q15. Total allowances were fl at at $160 million. Gross loans grew 3.7% from a year ago and 0.4% quarter-on-quarter to $203 billion as at 30 September 2015. In constant currency terms, the underlying loan growth was 5.5% when compared to the same period last year. The Group&rsquo s liquidity posiƟ on remained robust. Customer deposits rose 9.0% from a year ago and 1.3% over 2Q15 to $245 billion as at 30 September 2015, led mainly by growth in Singapore dollar deposits. The Group&rsquo s loan to deposit raƟ o was 81.6% with deposit growth outpacing loan growth in the quarter. The Singapore dollar and all currency liquidity coverage raƟ os were 186% and 134% respecƟ vely, well above the regulatory requirements of 100% and 60%. Asset quality stayed resilient with a NPL raƟ o of 1.3% as at 30 September 2015, albeit an increase from 1.2% before due to a few problemaƟ c oil and gas accounts. NPL coverage remained strong at 142.7% and 345.4% if collateral was considered. Shareholders&rsquo equity increased 5.6% from a year ago to $30.2 billion as at 30 September 2015, largely contributed by net profi ts and improved valuaƟ ons on available-for-sale investments. Return on equity was 11.1%. As at 30 September 2015, the Group&rsquo s strong capital posiƟ on remained well above the MAS minimum requirements with Common Equity Tier 1 and Total CAR at 13.6% and 16.4% respecƟ vely. The Group&rsquo s leverage raƟ o stood at 7.2% as at 30 September 2015, well above the minimum requirement of 3%. Looking ahead, management maintains for a mid-single digit loan growth across their loan porƞ olio, slightly beƩ er than OCBC&rsquo s low single digit loan growth guidance. With the 12 month SIBOR having doubled on a year on year basis and with the US Federal Reserve expecƟ ng to start raising interest rates in Dec&rsquo 15, UOB&rsquo s net interest margin which has risen 6 basis points in 3Q&rsquo 15 is expected to rise further. Part of this is expected to be off set by higher NPL and slowing loans growth though. To celebrate its 80th year of founding, UOB has declared a one-Ɵ me special dividend of 20 cents a share. Including its normal annual 70 cents a share, dividend yield is an aƩ racƟ ve 4.4% (3.4% div yield if we exclude the one-Ɵ me 20 cents dividend). This coupled with its undemanding 10x PE, 1.1x book and decent ROE of 11-12%, we maintain our BUY recommendaƟ on (we note that The Wee family has been buying shares in UOB recently with 250,000 shares purchased in Aug&rsquo 15 at $19 and 270,000 shares purchased in June&rsquo 15 at $22.835, raising their stake to 18.1% of the company). Singapore Research Team Tel: 6533 0595 Email: [email protected] |
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vivivava
Veteran |
03-Nov-2015 09:24
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SECTOR UPDATE Banking & ndash Singapore 3Q15 Roundup: DBS And UOB Share The Limelight DBS did well and met expectations despite the drop in trade loans and one-time charge of S$50m for adopting FVA to valuations of derivatives. OCBC disappointed on asset quality although the new NPLs from rescheduling of loans extended to Oil & Gas support services companies were not overdue. BUY DBS. Maintain OVERWEIGHT. WHAT& rsquo S NEW & bull UOB exceeded expectations and DBS met expectations for their 3Q15 results. On the contrary, OCBC& rsquo s results were slightly below expectations. & bull DBS generates higher growth from loan book. DBS outperformed with growth of 13.2% yoy for net interest income. It benefitted from a 3bp qoq expansion in NIM as a result of improvement in cost of deposits. DBS& rsquo loan growth was also stronger at 9% yoy, compared with 3.8% for OCBC and 3.6% for UOB. UOB& rsquo s NIM held steady at 1.77%. & bull UOB overcomes drag from market-sensitive fee income. UOB outperformed in generating growth of 4.2% qoq in fees, which came from increased contributions from credit cards and loans-related fees. The pick-up in approval of business loans in recent quarters could have contributed to the higher contributions from loans-related fees. & bull OCBC suffered significant reduction in contribution from its life insurance business due to mark-to-market losses for its portfolio of bonds and equities. & bull Treasury business benefited from increased hedging activities. Net trading income was robust across all three Singapore banks. There was an increase in customer flows given volatility in exchange rates for regional currencies, including the unexpected depreciation of the Chinese renminbi. & bull OCBC fall prey to vulnerability in exposure to oil & gas. Asset quality was resilient at DBS and UOB with NPLs relatively unchanged. OCBC surprised on the downside as NPL ratio crept up by 0.2ppt to 0.9%. The bank had rescheduled loans extended to oil & gas support services companies. Although not overdue, these rescheduled and restructured loans have been conservatively classified as NPLs. OCBC has reduced exposure to oil & gas from 7% to 6% of total loans. & bull OCBC& rsquo s loan-loss coverage deteriorated to 125%, below the 155.9% seen in 2Q15. ACTION & bull Maintain OVERWEIGHT. The outlook is uncertain with the impending interest rates hike in the US and further slowdown in China. Regional countries need to overcome domestic challenges that impede economic growth. & bull Nevertheless, valuations for Singapore banks are attractive after the recent share price correction with dividend yield at 3.5-4.0%. Share price should gradually recover especially if there is further evidence in upcoming results that the adverse economic environment outside Singapore has not damaged asset quality. PEER COMPARISON Price @ Target Market FY ------ PE ----- ------- P/B ------- P/PPOP ------ Yield ------ ------- ROE ------- Price Cap 2015F 2016F 2015F 2016F 2015F 2016F 2015F 2016F 2015F 2016F (S$) (S$) (US$m) (x) (x) (x) (x) (x) (x) (%) (%) (%) (%) DBS DBS SP BUY 17.25 22.34 30,764 12/2014 9.9 9.6 1.11 1.03 7.0 6.5 3.5 3.5 11.3 11.0 OCBC OCBC SP BUY 8.95 11.25 26,258 12/2014 9.9 9.8 1.14 1.07 7.7 7.4 4.0 4.0 11.5 11.0 UOB UOB SP NR 20.21 n.a.23,079 12/2014 10.2 9.9 1.09 1.02 n.a. n.a. 4.0 3.9 10.9 10.6 Source: Bloomberg, UOB Kay Hian |
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