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Great Eastern 20.5
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chartiskao
Elite |
06-Jun-2024 15:43
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why sell your GE so much at $25.6so much  below its embeded value of sgd36.59 when
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Joelton
Supreme |
06-Jun-2024 11:50
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OCBC eyes rising investment flows from Greater China companies expanding into Asean
Singapore&rsquo s position as a financial hub can support companies aiming to break into Asean, says bank&rsquo s chief, Helen Wong
 
MORE companies in Greater China (China, Hong Kong, Macau and Taiwan) are looking to set up shop in Asean &ndash and OCBC is looking to capture these flows, said OCBC : O39 0% group chief executive Helen Wong.
 
She noted that 11 per cent of China&rsquo s outbound investment flowed into Asean in 2022, and believes that the figure would have been even higher last year.
 
China&rsquo s outward direct investments into Asean rose between 2013 and 2018 at a compound annual growth rate of 13.5 per cent between 2018 and 2022, it continued to rise at 8 per cent.
 
&ldquo China is taking Asean seriously as a trade partner and continues to look for investment opportunities into this region,&rdquo she told The Business Times last week, on the sidelines of OCBC&rsquo s media briefing in Hong Kong to unveil its expansion plans in Greater China.
 
Asean has increasingly become a prime spot for manufacturing, e-commerce and other industries, even as the rise in geopolitical tensions between China and the United States steers Greater China investment flows southward.
 
Amid this, regional markets such as Indonesia and Malaysia have led the way with rapid growth, driven by a younger population and stable governments with economy-driven policies, said Wong.
 
Noting also that Singapore and Indonesia were the top two destinations for China money into Asean, she said that as a major financial centre, Singapore provides good banking and financial services in support of companies aiming to set up business in South-east Asia.
 
OCBC, banking on China&rsquo s improving economy and resulting positive spillovers into Asia as key growth drivers, will invest HK$1.5 billion (S$259.1 million) into its technology and facilities in Greater China over the next three years, and hire talents to strengthen its engineering hub.
 
These improvements will modernise the bank&rsquo s technology platforms, channels and products, and so boost its services there. The goal &ndash to add S$3 billion in revenue from its Asean-Greater China strategy by 2025.
 
Attracting Greater China flows
Wong noted that companies from Greater China want to work with people who understand them as well as the markets in the countries they hope to break into. To meet these needs, the bank has staff that &ldquo not only speak Chinese, but understand Chinese company culture and business&rdquo , she said.
 
OCBC also has an established position in South-east Asia, and works closely with the regulators and various business associations in Singapore, Vietnam, Malaysia, Indonesia and Thailand, she noted.
 
The bank has a regional team of about 50 relationship managers who are &ldquo entirely focused&rdquo on the cross-border Greater China-Asean link.
 
Staff from China are actively seconded into the bank&rsquo s offices in Singapore, Malaysia, Thailand, Indonesia and Vietnam, so they can come to understand the capabilities of OCBC in Asean, which helps when they meet potential clients upon their return to China.
 
In a separate interview, OCBC&rsquo s Greater China head of technology, media and telecommunications Joseph Liu said the dedicated Greater China team in these markets help to bridge the cultural gap for these Chinese companies, support them when they set up factories and identify potential acquisition targets, as well as offer financing products and hedging tools.
 
Wong said multinational corporations have previously identified Asean as the next best market for manufacturing, after China. Vietnam, for example, is known as the second-largest hub for lower-cost manufacturing.
 
Malaysia has been wooing advanced manufacturers. She noted that large Chinese companies are looking to build mega factories in Penang, for example. Malaysian Prime Minister Anwar Ibrahim said in May that the country is targeting at least RM500 billion (S$286.6 million) in investments for its semiconductor industry.
 
Meanwhile, Indonesia, which has abundant natural resources, has worked on stimulating economic growth over the last five years. &ldquo We have seen joint ventures established between Chinese and Indonesians, which tap raw materials, minerals and metals,&rdquo said Wong. For example, electric vehicle batteries rely heavily on nickel, and Indonesia has one of the biggest nickel reserves in the world, she added.
 
E-commerce, too, has become a key industry for Indonesia, said Wong. The country has fast-tracked the scaling up of its digital infrastructure, which has paved the way for e-commerce to flourish.
 
Beyond e-commerce, Greater China companies in the medtech and biotech fields have also shown an interest in Asean, with several aiming to tap Singapore for its research and development capabilities.
 
Even for companies not manufacturing in Singapore, the Republic is a key financial hub that can support their expansion, said Wong.
 
She said: &ldquo When you&rsquo re working on an international business, how you manage your finances are important. And Singapore is the place to be (to do that).&rdquo
 
All these trends play in OCBC&rsquo s favour &ndash it has been among the top two foreign banks in Malaysia by asset size since 2013, and is the majority-owner of OCBC Indonesia in sprawling archipelago.
 
Competitive edge
OCBC is not simply relying on its own name to attract Chinese clients. The Singapore lender has a 20 per cent stake in Bank of Ningbo (BON), a commercial bank headquartered in Zhejiang that serves several cities in the Yangtze River delta.
 
Its ties with BON go deep, noted Wong. In 2006, the Singapore bank first acquired a 12.2 per cent interest in BON, then known as Ningbo Commercial Bank it raised the stake to 20 per cent in 2014.
 
OCBC is more than just a shareholder in BON, which has come to view the Singapore bank as its link to the outside world. &ldquo They trust in our capabilities,&rdquo said Wong
 
She noted that BON is largely focused on its domestic services, and has been designated as a systemically important bank in China. This has entailed it coming under deeper supervision by regulators, who are seeking to enhance banks&rsquo risk-resistance capabilities.
 
She noted that BON serves as a competitive advantage for OCBC and has been linking up more Chinese companies with the Singapore bank.
 
&ldquo (BON) is banking a lot of the medium-sized, export-oriented and outward-looking companies, which particularly suits us, because their clients already want to come out (of China),&rdquo said Wong.
 
After all, OCBC&rsquo s various capabilities are aimed at furthering its proposition of linking Greater China with Asean, she noted. It does not aim to compete with the larger domestic banks, but to maximise its resources in other countries to serve Chinese customers.
 
&ldquo We would never call ourselves the biggest foreign bank in China, but we are in enough cities and have enough people and capabilities,&rdquo she said.
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Joelton
Supreme |
06-Jun-2024 11:50
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OCBC takes HNWI banking to next level as clients grow &lsquo more cosmopolitan and sophisticated&rsquo : Helen Wong
She says that the conversation is no longer centred on what to invest in, but on how to safely pass their wealth and businesses to the next generation
AS ASIAN wealth increases, more high-net-worth individuals (HNWIs) in Asean are becoming interested in preserving their wealth across generations, said OCBC : O39 0% group chief executive Helen Wong.
 
&ldquo HNWIs have become more cosmopolitan and sophisticated in the way that they run their investments and manage their wealth,&rdquo said Wong on the sidelines of OCBC&rsquo s media briefing in Hong Kong.
 
She pointed to such HNWIs hiring professionals, establishing family offices and diversifying their assets as examples of how they manage wealth now, with a focus on preserving wealth for generational transition.
 
The lender&rsquo s wealth management income &ndash which includes insurance, private banking, premier private client, premier banking, asset management and stock broking &ndash increased 19 per cent year on year to S$1.3 billion for the first quarter of FY2024, from S$1.1 billion in the year-ago period.
 
It now makes up about 36 per cent of the group&rsquo s income, up from 32 per cent a year ago.
 
Another indicator that wealth in Asean is growing is that OCBC&rsquo s private banking arm, Bank of Singapore (BOS), now onboards clients with more than US$5 million in investable assets, said Wong. In the past, the minimum amount was US$3 million.
 
Wong highlighted that compared to HNWIs in the US and Europe, who have inherited wealth through many generations, Asean families are likely to be only in their second or third generations of wealth.
 
She said that the conversation with HNWI clients is no longer centred on what to invest in, but on how families can safely pass their wealth and businesses to the next generation.
 
BOS is hence focusing on supporting this transition.
 
Wealth advisers across BOS&rsquo three hubs in Singapore, Hong Kong and Dubai engage clients to define their succession goals, taking into account tax, estate and legal considerations.
 
To engage younger clients, BOS is working with top universities in Singapore and China for its next-generation programme. Launched in 2012, it aims to equip its clients with knowledge on areas such as finance, leadership and investments.
 
It also holds exclusive events to actively engage the next generation of HNWIs, offering sessions with thought leaders and educational trips on business development.
 
Of the next generation, Wong said: &ldquo They are learning the business acumen from their families, while learning about financial risks, techniques and investment from us.&rdquo
 
Amid a growing pool of wealthy customers in Asean, OCBC aims to draw in more of these clients by offering an array of financial services that can help them build wealth on a single platform.
 
This includes insurance, private banking, and consumer and retail banking, Wong said.
 
Referring to this as a &ldquo wealth continuum&rdquo , she explained that the group should be able to serve customers seamlessly as they &ldquo migrate up&rdquo from more simple needs such as buying life insurance and stocks, to investing and preserving their wealth.
 
&ldquo We want to equally avail those products and capabilities across the wealth continuum, so that we&rsquo re not missing customers,&rdquo she added.
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chartiskao
Elite |
06-Jun-2024 06:59
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活 在 当 下 就 得 要 https://www.sohu.com/a/353425667_550009
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chartiskao
Elite |
04-Jun-2024 05:46
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https://www.marketscreener.com/insider/KOK-SENG-YEO-A0KCHS/
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chartiskao
Elite |
04-Jun-2024 05:44
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are the malaysian listed shareholders happy to sell GE cheaply to ocbc and bring back their money and convert into myr and let it depreciates over years against sgd like in the 1965 to 2024?
https://www.marketscreener.com/quote/stock/GREAT-EASTERN-HOLDINGS-LI-6492653/company/
 
the kuchai rubber development
https://www.marketscreener.com/quote/stock/SUNGEI-BAGAN-RUBBER-COMPA-20699141/
https://www.marketscreener.com/quote/stock/KUCHAI-DEVELOPMENT-20699131/
https://www.greateasternlife.com/content/dam/corp-site/group/gels-au-corpcomms/english-website/annual-report/great-eastern-holdings-limited-ar-2023-hr-r-protected.pdf
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chartiskao
Elite |
04-Jun-2024 05:35
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https://www.i-law.com/ilaw/doc/view.htm?id=17142#:~:text=TWO%20GREAT%20EASTERN%20DIRECTORS%20REJECT%20PRIVATISATION%20MOVE,-Two%20senior%20executives& text=Morgan%20Stanley%20said%20that%20the,or%20increase%20its%20controlling%20stake%E2%80%9D.
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chartiskao
Elite |
04-Jun-2024 05:32
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wong ah fook grand grand sons or grand grand  daughters will not be happly to take the shortchanged money to eat the inflated curry fish head over at the cust opposite cimb bhd
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chartiskao
Elite |
04-Jun-2024 05:29
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really what' s wrong with living in the past? everybody has their own right to live their own life happily and make the very most of it in the past,present of future as long as they are feel happy as long as it does not disturb others
https://www.investopedia.com/financial-edge/0210/buffetts-biggest-mistakes.aspx
 
we learned from the past and make our future better and live fruitfully and make the most out of the present (you have a choice and do not let anybody detect your won destiny)
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chartiskao
Elite |
04-Jun-2024 05:23
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Mr Wong Hong Sun, whose grandfather was chairman of Great Eastern for close to 20 years, holds more than three million shares. &ldquo Even if I am not sentimental, I won&rsquo t sell,&rdquo he said. &ldquo Half price is no way.&rdquo https://www.straitstimes.com/business/great-eastern-minority-shareholders-seeking-better-offer-from-ocbc what is wrong to remember the past and live my life as what i like most  everybody have the right to choose their life to live happily whether the past present or future https://www.nlb.gov.sg/main/image-detail?cmsuuid=bc1453f9-f5b3-449e-a0b5-4e00ed8bf253  
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MrBear12
Supreme |
30-May-2024 17:02
![]() Yells: "Peace and goodwill to all" |
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U seem to live in the past
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chartiskao
Elite |
30-May-2024 16:59
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i liked time when more people trade sg bank shares because i can buy and hold when the price is low https://www.straitstimes.com/business/companies-markets/sell-sell-sell-from-opening-bell-singapore-market-carnage-as-sti-plunges
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chartiskao
Elite |
30-May-2024 16:57
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https://www.cnbc.com/2020/04/30/singapores-dbs-earnings-q1-2020.html
https://investors.sgx.com/securities/stocks?security=U11
https://www.sohu.com/a/208221930_419216
 
2020年 是 我 们 回 去 战 国 时 代
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FairShake
Member |
30-May-2024 15:46
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??? " There are lies, damned lies and statistics." Mark Twain. With the disinformation and falsehoods pervading the social media and web, wise to browse with a good dose of salt.  If one gets a thrill from day-trading and lose some money that he can afford to lose in the process, what harm? Vested, so been reading up on local Take-Over Act and SGX Listing Rules: want to know all the options available and make informed decision when the time comes. Please DYODD.
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chartiskao
Elite |
30-May-2024 09:24
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https://www.pbs.org/wgbh/pages/frontline/shows/crash/etc/cron.html
The desire to make quick gains on the stock market often leads people to make poor decisions and ultimately lose money. Data from Current Market Valuation, a financial reporting firm, reveals a stark statistic: only 1% of day traders&mdash those who engage in buying and selling stocks within the same trading day&mdash actually make a profit after accounting for transaction costs. In other words, a staggering 99% of day traders consistently lose money. This highlights the inherent risks and challenges associated with attempting to make rapid profits in the stock market.
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chartiskao
Elite |
30-May-2024 09:22
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https://en.wikipedia.org/wiki/2020_stock_market_crash
Warren Buffett, one of the most successful investors of all time, echoes the philosophy of passive investment championed by Jack Bogle, the founder of Vanguard Group. Buffett advises investors to choose their investments carefully and maintain a long-term perspective. This approach aligns with Bogle' s advocacy for low-cost index funds and a buy-and-hold strategy, suggesting that patience and discipline in holding onto investments over time can lead to substantial rewards. By focusing on the long haul, investors can potentially benefit from the power of compounding and market growth, reducing the risks associated with frequent trading and market timing.
 
 
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chartiskao
Elite |
30-May-2024 09:17
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Warren Buffett, despite his legendary status as an investor, has experienced his fair share of investment missteps. One of the most notable examples is his investment in Berkshire Hathaway, originally a struggling New England textile company. Buffett began purchasing shares out of frustration with the company&rsquo s management rather than based on sound financial reasoning, a decision he later described as one of his biggest regrets. This episode underscores a critical lesson: even the most celebrated investors are not infallible. Buffett' s experience with Berkshire Hathaway serves as a humbling reminder that investment decisions can be clouded by emotions and personal conflicts, highlighting the importance of maintaining objectivity and discipline in investing. Ultimately, recognizing that even the " Oracle of Omaha" is human can provide valuable perspective and encourage investors to learn from their mistakes, striving for continuous improvement and rational decision-making in their financial pursuits. https://www.forbes.com/advisor/investing/fed-funds-rate-history/ https://investors.sgx.com/securities/stocks?security=O39  
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MrBear12
Supreme |
30-May-2024 05:15
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It will certainly improve OCBC profits.
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FairShake
Member |
29-May-2024 21:24
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Here is the link for all queries on delisting, SGX Rulebook 1305 to 1309: https://rulebook.sgx.com/rulebook/chapter-13-trading-halt-suspension-and-delisting-0 Delisting is the stated ultimate goal of OCBC in its third and latest offer. It is not a slam-dunk and minority shareholders have many options along the way. In the final reckoning, OCBC has to make an EXIT offer that is fair and reasonable, with CASH as the default option.  It will still be your call to accept this offer or choose to remain as a shareholder in the delisted and privatized GEH entity. Btw, it is nigh impossible for OCBC to garner enough acceptance to delist GEH under on Sect 215 Compulsory Acquisition. |
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Newcomer19707016
Senior |
29-May-2024 16:28
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Will the delist of Great Eastern help to push up ocbc share price to another new high? | ||||
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