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ping an insurance a big fintech giant that
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chartistkao1
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06-Dec-2021 14:44
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https://www.fairobserver.com/region/north_america/what-would-happen-if-eu-broke-part-1/
https://www.youtube.com/watch?v=FRbaawcE3MI
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chartistkao1
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06-Dec-2021 14:13
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https://www.theguardian.com/politics/2016/jun/24/europeans-in-uk-react-to-brexit-britain-poorer-crueller
https://www.youtube.com/watch?v=LIf5jZrDx28
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chartistkao1
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22-Nov-2021 09:40
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after 2016 brexit and trump become president the world stock market become
https://images.app.goo.gl/dafjHZrk2PDdtanF8
https://www.youtube.com/watch?v=QtgeVuetOCY
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chartistkao1
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22-Nov-2021 09:30
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https://www.theguardian.com/business/2012/jun/01/world-markets-global-crisis-deepens
https://www.youtube.com/watch?v=xoH29SM3e8I
https://en.wikipedia.org/wiki/Timeline_of_Brexit
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chartistkao1
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22-Nov-2021 09:15
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the traders who trade ocbc since the 1960s till 2022 https://www.youtube.com/watch?v=q2wJGHVgEtE
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chartistkao1
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20-Nov-2021 11:51
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ngaporeOCBC Bank is considering whether to set up a crypto exchange as South-east Asia' s second-largest lender seeks to respond to customer needs, chief executive officer Helen Wong said. " We are looking at it and seriously there are some work being done in the bank," Wong told Haslinda Amin in a Bloomberg Television interview on Friday (Nov 19), when asked whether the bank would consider offering crypto services as some of its competitors are doing. " If you say we are looking at it, it is very much in addressing customer needs, but in a safe manner," Wong said. " We want to help them to recognise the investment and how to handle it." Singapore is trying to establish itself as a global crypto hub, attracting many new firms even while the city-state frowns upon cryptocurrencies as investments for retail traders. Stay updated with
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chartistkao1 ( Date: 19-Nov-2021 11:51) Posted:
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https://www.ig.com/sg/news-and-trade-ideas/why-dbs--ocbc-shares-are-favoured-by-analysts-211013
chartistkao1 ( Date: 19-Nov-2021 10:15) Posted:
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they always say sell sell ocbc all the while but
https://www.marketwatch.com/story/is-the-bond-market-embarking-on-a-1946-like-35-year-cycle-of-rising-rates-2016-12-08
https://www.youtube.com/watch?v=PKCR8Ho-qHM
chartistkao1 ( Date: 19-Nov-2021 10:10) Posted:
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https://www.nber.org/research/business-cycle-dating
https://www.youtube.com/watch?v=zMVXTJN8SWQ
it is my soul mate in this market vie so many cycles
https://en.wikipedia.org/wiki/OCBC_Bank
chartistkao1 ( Date: 18-Nov-2021 15:42) Posted:
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https://images.app.goo.gl/kyjC6vyxPJs3uhCy8
https://www.youtube.com/watch?v=Fp4CR2HcHLQ
chartistkao1 ( Date: 18-Nov-2021 15:40) Posted:
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https://images.app.goo.gl/rq1kkDBiZraX2Nvj7
chartistkao1 ( Date: 18-Nov-2021 15:14) Posted:
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https://www.youtube.com/watch?v=Dqml_sKOz5U
https://images.app.goo.gl/TCiVDR2iTKvFYdis9
chartistkao1 ( Date: 18-Nov-2021 11:34) Posted:
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Billionaire Tan Sri Tan Chin Tuan: &ldquo You know, Khim, diamonds don&rsquo t pay dividends.&rdquo &ldquo It suddenly made me realise that there is a big difference between an item of show and something that generates a return.&rdquo
March 27, 2014 Leave a comment
Chew Gek Khim Unlocks Value at Straits Tradingby Jennifer Schultz Wells | Mar 17, 2014
Despite the legacy of her grandfather, she&rsquo s proving herself
Chew Gek Khim recalls a day in her early 20s when she was shopping with her maternal grandfather, wealthy Singaporean banker and philanthropist Tan Chin Tuan. They ended up in a jewellery store where she wanted to make a purchase, but he balked and tried to dissuade her. Finally he said, &ldquo You know, Khim, diamonds don&rsquo t pay dividends.&rdquo
&ldquo It was a very clever comment,&rdquo says Chew, the 52-year-old executive chairman of Straits Trading, one of Singapore&rsquo s most venerable companies, whose fortune originates in tin. &ldquo It suddenly made me realise that there is a big difference between an item of show and something that generates a return.&rdquo
That value continues to resonate as Chew builds on the family&rsquo s corporate legacy. Following instructions from her late grandfather&mdash who built up and nurtured some of Singapore&rsquo s best-known companies while chairman of Oversea-Chinese Banking Corp (OCBC) in the mid-20th century&mdash Chew wrested control of Straits Trading in 2008 in a high-profile bidding war. She has since launched ambitious reforms to transform the 126-year-old firm, with its hodgepodge of interests, into a dynamic holding company with three core businesses&mdash resources, property and hospitality&mdash and strong cash flow. The past six years have been &ldquo phase one,&rdquo Chew says, as she diversified holdings to unlock shareholder value.
The incubation period didn&rsquo t yield immediate results. Profitability rose and fell as the firm made provisions in line with Chew&rsquo s vision. But last year marked the end of that period, says Chew. A series of divestments left the publicly listed firm cashed up, allowing her to clinch key tie-ups in both hospitality and property that should give Straits Trading a significant Asia-Pacific presence and higher returns. The company, which has a market capitalisation of $1.2 billion, is expected to post a net profit for the year ended December 31, following a net loss of $44 million in 2012.
Straits Trading&rsquo s roots lie in colonial-era Singapore. Resources were the lifeblood of the region, and a Scotsman and a German saw an opportunity in tin and launched smelting operations in 1887. Straits Trading soon became one of the biggest tin smelters in the world. It survived the Great Depression and two world wars, and was eventually acquired by OCBC in the 1950s under Chew&rsquo s grandfather. (Other OCBC investments by Tan at that time included Raffles Hotel, Singapore retailer Robinson & Co and beverage conglomerate Fraser & Neave.)
Chew grew up in her grandfather&rsquo s house, a two-story mansion just off Singapore&rsquo s tony Orchard Road. &ldquo I was very sheltered,&rdquo she laughs, recalling her life as a student. &ldquo The only job I had was working for my grandfather when he got cross with me for lounging around the home.&rdquo
She graduated from the National University of Singapore in 1984 with a bachelor&rsquo s degree in law. She went to work for local law firm Drew & Napier, specialising in corporate law and gaining valuable life lessons, she says, in perseverance, hard work and dealing with people. Three years later, she quit to join the family&rsquo s investment group, Tecity.
Over the next 20 years, Chew worked with her grandfather and parents at the family-owned entity, which comprised an investment arm and her grandfather&rsquo s foundation, eventually joined by her younger sister and brother. In his final years, Chew says, she began to have a lot of conversations with Tan (who passed away in 2005). &ldquo Not just about going forward or the family business,&rdquo she says, &ldquo but also dialogues about money, the foundation, society. It was quite holistic.&rdquo
By this time, Singapore was emerging as a world financial hub. Under a programme introduced in 1999 to strengthen the banking sector, local banks were required to divest non-financial businesses. Consequently, OCBC faced unraveling its holdings in the stable of companies Tan had spent his career building. Anticipating this, Tan had a brief for his granddaughter: Buy at least one of my companies. Moves by Chew, now executive chairman of Tecity, in 2005 and 2006 to acquire Raffles Hotel and Robinson, respectively, didn&rsquo t pan out. But, in January 2008, she made an offer for Straits Trading, triggering a bidding war with OCBC founders, the wealthy Lee family. (The Lees owned about 7 percent of Straits Trading and controlled about 33 percent through shares in OCBC and its affiliate, insurer Great Eastern Holdings.)
The island nation watched as two of Singapore&rsquo s most prominent families seemingly went head to head. The Lees counterbid twice before Tecity issued its final price, which valued the company at about $1.7 billion. The Lee family and other shareholders accepted Tecity&rsquo s offer, giving Chew an 89 percent stake in Straits Trading. Chew dismisses any emotive element to the deal. &ldquo It was a corporate move,&rdquo she says, later adding that the relationship between the two families remains friendly.
Her first moves at Straits Trading were largely to shore up the company. She streamlined its investments into three businesses and strengthened fiscal discipline. She also initiated changes at its tin operations. In 2010, listed subsidiary Malaysia Smelting&mdash one of the largest producers of refined tin in the world&mdash sold its non-tin assets and expanded its focus to mining, a natural extension, Chew says, to create an integrated business.
But the bigger changes lay else-where. In November 2012, Chew restructured its lossmaking hotel division, selling its hospitality- management business to Singapore&rsquo s largest property developer, Far East Organization. Under the deal, Straits Trading sold two hotels for $224 million to Far East. At the same time, it entered a joint venture with the developer in which Straits Trading injected three hotel properties and 13 management contracts in exchange for $44 million in cash and a 30 percent stake in the new company, which is now one of the largest hotel operators in Asia, with more than 13,000 rooms under management across 80 properties in eight countries.
That same day, Straits Trading announced it was boosting its stake in Singaporean automotive distributor WBL (also known as Wearnes), another company in the OCBC stable whose portfolio includes Chinese real estate. Chew&rsquo s move to own 45 percent of WBL triggered a mandatory general offer, effectively sidelining the stake controlled by OCBC and the Lee family. Enter United Engineers (also an OCBC affiliate), which in concert with OCBC, Great Eastern and the Lees counterbid twice and ultimately paid $725 million for a 96 percent stake in May. United Engineers at the time said it saw an opportunity in WBL and approached OCBC-linked parties, not the other way around.
Chew walked away with $400 million, returning 40 cents a share to shareholders as a special dividend. &ldquo We quite respect what she&rsquo s done,&rdquo says Hugh Young, managing director of Aberdeen Asset Management Asia, which exchanged its shares in WBL for a 6 percent stake in Straits Trading as part of the WBL bid. The fund manager said both had been pressing management at WBL for years to make changes, but without result. &ldquo Khim came up with a clever trans- action to consolidate stakes&rdquo , bid for the company at a reasonable price and then wisely decided to monetise after United Engineers&rsquo counteroffers pushed up the amount.
&ldquo Certainly the legacy of her grandfather is important. But, in her own right, she&rsquo s proving herself,&rdquo Young says.
Straits Trading was now flush with cash, and the company put it to use tackling its low-yielding invest- ment property portfolio. In October it bought a 20 percent stake in one of the largest real estate fund managers in Asia, Singapore-listed ARA Asset Management, which is partly owned by Hong Kong billionaire Li Ka-shing, for $232 million in cash and shares.
Chew also set up a vehicle with ARA Chief Executive John Lim to create funds to invest in property across Asia and likely Europe with a commitment of $748 million in seed money&mdash $670 million from Straits Trading and the rest from Lim&rsquo s family office. (In addition, ARA will manage Straits Trading&rsquo s $670 million real estate portfolio.) Both say they share a vision to grow the ARA business through their combined network and capital and that of Li&rsquo s property group Cheung Kong.
While Lim and Chew had discussed the possibility of a tie-up since meet- ing three years ago, Straits Trading&rsquo s sale of its WBL shares presented the opportunity, according to Lim, and the deal was cut between the two during several meetings over coffee. &ldquo She sees things very clearly and has the ability to negotiate a deal that is win/win for all parties,&rdquo says Lim, who himself owns 3.5 percent of Straits Trading.
Chew has rolled Straits Trading&rsquo s assets into vehicles with strong growth prospects and meaningful scale, and the firm now has a solid balance sheet to pursue acquisitive growth that can add new income streams, says Goh Han Peng, an analyst at securities firm OSK-DMG. &ldquo The challenge will be in finding the right type of assets and businesses at the right price in a high-liquidity environment.&rdquo
The market is taking a wait-and- see approach. After an initial run-up following the ARA announcement last year, its shares have fallen below its book value, notes Mark Laudi, executive editor at stock market watchdog Investor Central.
Tecity&rsquo s stake in Straits Trading currently stands at about 73 percent, which Chew says she would like to reduce further while maintaining control of the company. Phase two of her overhaul includes attracting families, both in Singapore and abroad, who share the same investment philosophy as Chew, based on a long-term view, wealth preservation and safety in times of crisis.
Chew ascribes her motivation to a strong sense of responsibility. &ldquo I was given a brief to do certain things. Without that brief I may not have undertaken such tasks I probably would have stayed in the family office,&rdquo she says. It&rsquo s also important to grow as a person, &ldquo using your abilities and strengths, and each time trying to do a little better&rdquo .
In addition to 34 directorships, Chew is deputy head of the family&rsquo s philanthropic arm, which follows a similar philosophy as its business: Supporting projects with good governance and accountability to ensure a multiplier effect for each dollar donated. Chew refers to an argument with her grandfather where she advocated paying a lower price for a company they wanted to buy. &ldquo He lost his temper and asked, &lsquo What is money for?,&rsquo then walked out of the room. It made me stop and think that when you buy something, it&rsquo s not just about buying to make money, there&rsquo s a purpose. You can use money for many things, hopefully for good.&rdquo
chartistkao1 ( Date: 18-Nov-2021 11:24) Posted:
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However, insiders say Dr Tan' s family is unhappy with some of OCBC' s actions over the years, which they believe have undermined his legacy. The 2006 sale of a significant stake in Robinson & Co to Lippo Group is one example.On the other hand, the takeover move by the Tan family may have upset the Lees.
This new offer for Straits Trading is from the Lees' investment holding firm, Lee Latex, whose directors include OCBC director Lee Seng Wee and Lee Foundation chairman Lee Seng Gee.
Its offer of $5.76 is just a shade better than the bid of $5.70 from the Tan family' s investment vehicle, Tecity. Both bids value the mainboard-listed firm at more than $1.85 billion.
Tecity - run by Dr Tan' s granddaughter, Ms Chew Gek Khim - owns about 22.46 per cent of Straits Trading. It said it was making the offer because of its historical ties with Straits Trading, which date back to the 1950s.
While Dr Tan helmed OCBC, he spotted other assets on sale by the British which the bank invested in, such as Straits Trading. Separately, Tecity also invested in Straits Trading.
Dr Tan was OCBC' s public face for decades, including his time as the company' s chairman.
Market observers said yesterday' s bid by the famously private Lee family had come as a surprise. ' This is the first time that they, in their private capacity, are making such a high-profile corporate action.'
The Lee family has stood quietly on the sidelines in recent deals, such as OCBC' s sale of its stake in Robinson or its offer for Great Eastern.
There is much value in Straits Trading, which is redeveloping its office property at 9, Battery Road. The firm is also working with OCBC to redevelop Hotel Phoenix.
But the fact that the Lee family' s offer is only six cents above the Tecity offer, suggests the family is effectively throwing down the gauntlet to Tecity - to up its offer.
A Tecity spokesman declined to comment.
Up to Wednesday, OCBC, Great Eastern and the Lee family owned 32.17 per cent. The three are seen to be acting in concert as the Lee family owns more than 20 per cent of the bank.
For such parties with more than 30 per cent but less than 50 per cent, the more common means of triggering a takeover offer - crossing the 30 per cent threshold - does not apply.
These parties cannot amass more than 1 per cent in any six-month period. Yesterday, the Lees bought 213,000 shares, which means that over the past six months, the concert parties have bought 1.03 per cent.
Although OCBC and Great Eastern are acting in concert with the Lee family, they are free to accept either offer.
Trading in Straits Trading shares will be halted from 9am today.
[email protected]
Going head-on
LONG-TIME OCBC watchers say the latest move for Straits Trading is a public display of the little love lost between the Lee family, which represents old Singapore money, and the family of its former key lieutenant, the late Dr Tan Chin Tuan.
While both parties clearly see value in the firm, insiders say Dr Tan' s family is unhappy with some of OCBC' s actions over the years, which it feels undermine his legacy.
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| A TAKEOVER battle has erupted for tin-smelting and property player Straits Trading after OCBC Bank' s founding Lee family stunned observers by throwing their hat into the ring with an offer yesterday.The famously private Lee family is now pitted in a contest of wills with the family of the late Tan Chin Tuan, which made an offer on Jan 6. Dr Tan ran OCBC for decades. Long-time OCBC watchers say the competing bid is a public display of the little love lost between the Lee family, which represents old Singapore money, and the family of its long-serving key lieutenant, Dr Tan. Both parties clearly see value in Straits Trading, given the current property and commodities boom. |
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chartistkao1 ( Date: 18-Nov-2021 10:42) Posted:
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chartistkao1 ( Date: 18-Nov-2021 10:07) Posted:
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https://www.cnbc.com/2021/11/01/singapore-banks-q3-2021-earnings-what-to-expect-from-dbs-ocbc-uob.html
chartistkao1 ( Date: 18-Nov-2021 09:44) Posted:
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https://www.ocbc.com/group/media/release/2021/1h21_results.page?
chartistkao1 ( Date: 18-Nov-2021 09:35) Posted:
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https://www.yumpu.com/en/document/view/31294225/ocbc-bank-sets-aside-another-s500-million-for-share-buyback
chartistkao1 ( Date: 18-Nov-2021 09:28) Posted:
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https://sbr.com.sg/stocks/news/ocbc-leads-april-share-buyback-rally
https://www.shareinvestor.com/news/news.html?source=sg_sgxnet& nid=515475704
chartistkao1 ( Date: 18-Nov-2021 07:06) Posted:
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investing ocbc from 2019 and in 2020(covid19 and circuit breakers 1,2 and 3 and heightened alert) into 2021 and 2022....we saw many things liked
https://www.youtube.com/watch?v=4Pps24AdIoI
chartistkao1 ( Date: 17-Nov-2021 11:42) Posted:
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