DBS
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DBS
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Agree. Vested
New123 ( Date: 07-Jan-2014 08:27) Posted:
Dbs looking gd to cont to go up after a short pause. Breaking out of 17.22 will be v positive.
New123 ( Date: 31-Dec-2013 08:34) Posted:
Update for DBS http://sporeshare.blogspot.sg/2013/12/dbs-bank.html
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Dbs looking gd to cont to go up after a short pause. Breaking out of 17.22 will be v positive.
New123 ( Date: 31-Dec-2013 08:34) Posted:
Update for DBS http://sporeshare.blogspot.sg/2013/12/dbs-bank.html
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i see bank counters shld b doing quite well in 2014 as tapering set in
stockmarketmind ( Date: 03-Jan-2014 14:24) Posted:
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DBS more likely to pause or retreat a little for the time being.
New123 ( Date: 31-Dec-2013 08:34) Posted:
Update for DBS http://sporeshare.blogspot.sg/2013/12/dbs-bank.html
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Update for DBS http://sporeshare.blogspot.sg/2013/12/dbs-bank.html
Is it a good entry point now?
Octavia ( Date: 18-Dec-2013 09:30) Posted:
| With the odds of the US Federal Reserve tapering its quantitative easing programme on the rise, interest rates are set to rise. The implications will manifest in banks? net interest margin (NIM), asset quality and loan growth. Based on Maybank-KE's estimates, every 5bps increase in NIM will raise FY14F-15F EPS by 4% on average. The earnings uplift is significant after the past few years of depressed NIMs. Meanwhile, every 5bps increase in credit charge will impact earnings by 2.5-3.1%. Maybank-KE believe DBS is best positioned to take advantage of a rising interest rate environment, given its liquid balance sheet and strong deposit franchise with cheap funds accounting for 58.4% of total deposits. House have a BUY call on DBS with $19.70 TP, based on 14x FY14F core EPS, a slight premium to its rolling PER average since 2005. |
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With the odds of the US Federal Reserve tapering its quantitative easing programme on the rise, interest rates are set to rise. The implications will manifest in banks? net interest margin (NIM), asset quality and loan growth. Based on Maybank-KE's estimates, every 5bps increase in NIM will raise FY14F-15F EPS by 4% on average. The earnings uplift is significant after the past few years of depressed NIMs. Meanwhile, every 5bps increase in credit charge will impact earnings by 2.5-3.1%. Maybank-KE believe DBS is best positioned to take advantage of a rising interest rate environment, given its liquid balance sheet and strong deposit franchise with cheap funds accounting for 58.4% of total deposits. House have a BUY call on DBS with $19.70 TP, based on 14x FY14F core EPS, a slight premium to its rolling PER average since 2005.
Bank Danamon's shares jumped 11% on speculation of DBS deal revival. Back in Jul this year, DBS dropped the $6.5b Bank Danamon bid after failing to win control. According to a Bernstein note, if DBS were allowed to go ahead and wanted to, it may pay significantly cheaper price with the rupiah weakness and improved DBS share price. ie. if DBS re-offered at same price of 7,000 rupiah/shr, it would save $3.3b on deal. House notes the strategic rationale for deal remains.
Mizuho Securities questions if would DBS have another chance to buy control of Bank Danamon? The Chairman of the newly established Indonesian Financial Services Authority (or OJK) recently indicated that the agency might be willing to review the issues surrounding DBS? aborted bid to acquire control of Bank Danamon, Indonesia?s 5th largest bank. Recall, in Apr??12 DBS offered to buy up to 99% of Danamon?s shares in a deal that would have been worth US$7.2b. In Jul12 Indonesian authorities capped the foreign ownership limit for the banking sector at 40%. In May13, unable to negotiate for an exception to the foreign ownership rule, DBS pulled out of the deal. Danamon generated pre-tax profits equivalent to 13% of DBS group profits for 9m13. Danamon?s ROE stands at 14.5% for the 9m on a Tier 1 ratio of 17.8%. In comparison, DBS reported ROE at 10.9% and Tier 1 at 13.3%. The financial impact on the group of a successful bid for control of Danamon would be substantial in our opinion. The Financial Services Authority will take over supervision of the banking sector in Jan?14. The Chairman was recently asked about the DBS offer for Bank Danamon. He indicated that it may be possible for the OJK to review the circumstances around the failed bid. Overall, the house thinks that a compromise could be reached and the price could be 23% lower in SGD terms. The OJK Chairman?s statement clearly opens the door to a new deal for Danamon. If a deal is agreed at the IDR7,000/share that was offered in 2012, this will represent a 23% discount in SGD terms, due to the significant depreciation of IDR since April last year.
DBS CIO Lim Say Boon has their strategy outlook for 2014. Note that global equities were likely to stage a modest correction in near term going into 2014, from technically overbought conditions. Suggest investors ignore the noise from the markets, especially in regards to the Fed budget. Three main themes to note: 1) US monetary policy remains accommodative: Fed reserve will start tapering after US debt ceiling obligations are resolved in Feb, and probably in March. Policy rate likely to stay close to zero for 2014. 2) We are in the midst of synchronized global upturn: WIth China, EU, Japan and US showing growth 3) Corporate earnings in developed markets continue to grow: Current US earnings positive for mkts sentiment and confirms continued corporate earnings growth. Overall, bullish on equities for 2014, and the markets are getting less bothered by US debt talks according to the house research, and any scenario will likely end the way it is in the past. Arguable if QE now still has any meaningful impact on the US economy. Going forward, US Govt bond yields will likely increase which will create more volatility and push up the spread of emerging mkts bond yields. In recent mths, consensus has been downgrading expectations of emerging markets and Asia ex-japan economy growth for 2014. Until the house see a pick up in upgrades and stronger growth momentum of emerging mkts and Asia ex-japan growth, it will be hard to see these markets sustain their outperformance. When tapering starts, some emerging countries will be struggling with the deficits on their current accounts. Overall, the house is cautious on Asia ex-Japan in the near-term, with a neutral weight call, noting technical postures beginning to worry the house. Not withstanding long-term view in Asia ex-Japan, continue to favour developed markets over emerging markets.
DBS may cont to move up if it is able to cross over $16.74 with good vol.
http://sporeshare.blogspot.sg/2013/12/dbs-bank.html
New123 ( Date: 12-Dec-2013 17:35) Posted:
DBS seems to be finding it support at $16.50.
See my view at http://sporeshare.blogspot.sg/2013/12/dbs.html
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DBS seems to be finding it support at $16.50.
See my view at http://sporeshare.blogspot.sg/2013/12/dbs.html
DBS near term downtrend looks to be strong, evident by the sharply declining key RSI, Stochastic and MACD indicators. See near term support at $16.40 (200 day MA). A break below the 200 day MA would be read as a very negative signal, and could spell the end of the longer term uptrend. Next firm support is at the pscyhological $16.00 level.
One and half year thread someone still dreaming of $12.5 ? next week?..BTW the link you give can't see anything leh...
New123 ( Date: 07-Dec-2013 17:44) Posted:
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next wk may be high chance for DBS to resume uptrend.
http://adfoc.us/19936235726790
I hope so.
angmohlin ( Date: 04-Apr-2012 19:26) Posted:
| Will DBS drop to $12.50 level. |
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Will DBS drop to $12.50 level.
