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I believe this will be a acquisition target by foreign fund.
Hope management quickly step down and pass to someone more able. Poor results considering recovery started from covid 19. Wonder what is his long term plan? Digital licence also not interested, how to drive growth? NAV $4 plus but price languishing at $2 plus fir so long and no proactive action taken. Shareholders continue to suffer. Hope someone more able can take over
Steady
Earnings per share was 19.97 Singapore cents, up from 16.32 cents in the first half of last year.
Net loan assets stood at S$10.6 billion as at June 30 net asset value per share was S$4.33 as at June 30.
Earnings per share was 19.97 Singapore cents, up from 16.32 cents in the first half of last year.
Net loan assets stood at S$10.6 billion as at June 30 net asset value per share was S$4.33 as at June 30.
Hong Leong Finance H1 net profit rises 22.4% to S$44.7m
Hong Leong Finance on Thursday said it made a net profit of S$44.7 million in the first-half, up 22.4 per cent from the same period a year earlier, thanks to a stepped-up effort in managing the cost of funds and lower loan loss allowances.Interest income and hiring charges in the six months ended June 30 came to S$123.1 million, down 30.9 per cent.
Interest expense fell 64.7 per cent to S$33.9 million. Net interest income rose 8.6 per cent to S$89.2 million, driven by a calibrated funding strategy which helped the group " pare down the deposit base and tighten funding cost" , it said.
This helped it to " manage the downward pressure on net interest margin amid sustained low benchmark interest rates" , the group noted.
An interim dividend of 3.75 Singapore cents will be paid on Sept 8.
Earnings per share was 19.97 Singapore cents, up from 16.32 cents in the first half of last year.
Net loan assets stood at S$10.6 billion as at June 30 net asset value per share was S$4.33 as at June 30.
In tandem with the slower loan growth and to optimise loan funding, Hong Leong Finance said customer deposits and balances were managed down to S$10.8 billion as at June 30, down 7.9 per cent or $928 million from the year before.
Cash and cash equivalents including statutory deposit with the Monetary Authority of Singapore (MAS), together with Singapore government debt securities, MAS Bills and MAS floating rate notes (FRN) held as liquid assets amounted to S$2.3 billion as at June 30.
The group' s balance sheet remained " resilient with ample liquidity and strong capital to sustain lending activities and weather the pandemic" , it said.
The counter rose two Singapore cents or 0.81 per cent to S$2.48 on Thursday, before the results were announced.
New broom sweeps clean.
Company is basically remaining static.
Board also has an easier job.
Management overly conservative, never move with time, always doing things the same way. Even digital licence not intterested, How to progress? Hope management quickly retire, pass it to someone more able. Regreted buying when it was $4 when news of potential merger was rampant
This got to be the world' s slowest financial stock
I bought this some 16 or 17 years ago as a two dollar plus stock. Today it' s still a two dollar plus stock
whereas OCBC, DBS, UOB has doubled or tripled. Luckily I only hold little of it.
I bought this some 16 or 17 years ago as a two dollar plus stock. Today it' s still a two dollar plus stock
whereas OCBC, DBS, UOB has doubled or tripled. Luckily I only hold little of it.
results on 5 aug
Singapore will emerge stronger.
investshare ( Date: 05-Jan-2019 16:47) Posted:
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where you get $4.30 value?
Jamesbond007 ( Date: 23-Nov-2020 17:35) Posted:
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lai lai lai lai lai lai lai
He is Ironman. His predicament is Zhun Zhun Jia Bee 🐝 Hoon. Isn' t it delicious.
investshare ( Date: 12-Apr-2021 10:29) Posted:
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LAI LAI LAI LAI LAI LAI
Thanks Ironman
limjoeseph ( Date: 12-Apr-2021 08:57) Posted:
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Joseph Lim, hope you are right. This is one of my key portfolios. Bet big.
Hong Leong is a Long Term Buy and Hold Counter for market participants who wish to enjoy their more than decent annual dividend payout relative to pittance interest earned from parking excess cash with the banks besides potential price appreciation down the road. HL, technically has completed part of its ABCDEF PATTERN BREAKOUT from my chart pattern recognition after breaking above 2.47 (F) and will be testing 3.20 (F) in due course. Final breakout pattern located at all time high of 4.20 thereabout. A slow and steady climb for HL in the cards. NB: I am vested small with CASH and SRS.
As usual, due diligence is warranted on own judgemental call to suit risk appetite.
For those bought around $2.00 ...now should be happily collecting dividend over the years plus seeing the share price going up
HSK leaving is a pity, he is so dedicated and talented.
But I am happy for him, as he really should prioritize his health. It was a miracle that he recover so fast from stroke.
Wish him all the best.
But I am happy for him, as he really should prioritize his health. It was a miracle that he recover so fast from stroke.
Wish him all the best.
Singapore SME business sentiment highest since pandemic began, with more hiring expected: Survey
With the easing of business restrictions, most small and medium-sized enterprises are also anticipating a rebound in sales over the next six months.
With the easing of business restrictions, most small and medium-sized enterprises are also anticipating a rebound in sales over the next six months.PHOTO: ST FILE
Sue-Ann Tan
PUBLISHEDAPR 7, 2021, 12:00 PM SGT
Hong Leong Finance reports 38% decline in net profit for FY20
HONG Leong Finance' s net profit for the 12 months ended Dec 31, 2020 dropped 38 per cent year on year to S$63.91 million.
The group reported profit from operations before allowances of S$82.4 million for the year, down 34.3 per cent, due to the recession. Higher general loan loss allowances were set aside against inherent credit risk amid uncertainties arising from the pandemic, Hong Leong Finance said.
Net interest income fell 27.2 per cent to S$146.85 million due to compressed net interest margins as the dip in interest yields outweighed the savings from the lower cost of funds given lower interest rates.
Fee and commission income declined by 25.4 per cent to S$10.22 million, with lower fee income earned from both lending and non-lending activities last year.
Earnings per share worked out to 14.28 Singapore cents, down from 23.09 cents a year ago.
The board proposed a final dividend of 5.5 Singapore cents per share, down from 10 cents per share last year. Subject to shareholders' approval at an upcoming annual general meeting in April, the dividend will be paid on May 25.
Describing 2020 as a challenging year, chairman Kwek Leng Beng said: " We are cautiously optimistic that the operating environment for 2021 will improve with the containment of the pandemic both globally and domestically, mainly because of promising vaccine developments."