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https://www.ocbc.com/assets/pdf/major%20regulatory/2009/ocbc%20bank%20triples%20its%20private%20banking%20business%20with%20the%20acquisition%20of%20ing%20asia%20private%20bank/ocbc_iapb_presentation.pdf
https://en.wikipedia.org/wiki/Bank_of_Singapore
chartistkao1 ( Date: 12-Oct-2023 09:03) Posted:
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https://www.straitstimes.com/business/bank-of-singapore-completes-acquisition-of-barclays-wealth-and-investment-business
https://en.wikipedia.org/wiki/Bank_of_Singapore
chartistkao1 ( Date: 12-Oct-2023 07:10) Posted:
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https://www.hubbis.com/news/bank-of-singapore-intensifies-expansion-with-major-hiring-and-growth-plans
BANK of Singapore (BOS) wants to be among the biggest players for financial intermediaries in Asia, particularly as it sees strong growth in the single family offices (SFOs) and financial intermediaries space, said chief executive officer Jason Moo.
&ldquo The big focus for us is, we&rsquo re going to revitalise the terminology of &lsquo Asia&rsquo s global private bank&rsquo . We are rooted in Asia&hellip but we have global capabilities and global asset allocation,&rdquo said Moo, who took on the role in March 2023.
As part of its strategic review, BOS set up a family office platform to focus on its SFO value proposition, and provide dedicated coverage to financial intermediary clients, which include external asset managers and independent asset managers.
BOS &ndash OCBC&rsquo s private banking arm &ndash has a market share of close to one-third of the 1,100 SFOs in Singapore by end-2022.
Assets under management for its financial intermediary clients also grew 60 per cent from 2020 to end-2022, making this one of the bank&rsquo s fastest growing segments, Moo noted.
&ldquo By creating a dedicated excellent centre for covering these financial intermediaries, we feel like we can have more dedicated resources when dealing with them.&rdquo
He said that a major selling point is the private bank&rsquo s open architecture capability, which can offer clients the best price for products through a single platform.
This reduces logistical difficulties for clients if they were to deal with the various banks themselves.
Banks that have their own trading desks may also be inclined to show clients their own prices, whereas BOS deals with different banks to find the best price.
Furthermore, Moo expects BOS to have an edge in the alternative investments space, having spent a lot of effort to build its alternative capital platform.
Assets under management for alternatives grew 50 per cent from 2019 to 2022. Moo noted that SFO clients also go to the bank a lot to deal in the alternatives space.
&ldquo We&rsquo re probably one of the best banks to help clients navigate this space, because we offer products along this entire spectrum.&rdquo
He noted that the country has become more prominent in people&rsquo s minds in recent years. &ldquo We&rsquo re riding on the wave of Singapore viewed as a safe jurisdiction, especially after some of the turmoil in the market.&rdquo
Even with the ongoing S$2.8 billion anti-money laundering probe in Singapore, Moo said people have not been less inclined to invest in the Republic.
He noted that the swift action by the government, and cooperation from the whole banking system to address the probe, speak to the robustness of the country&rsquo s financial system.
While wealth from China may see extra scrutiny now due to the probe, Moo noted that the responsibility of extra vigilance should be on everyone.
&ldquo You don&rsquo t want to throw the baby out with the bathwater. There are a lot of good Chinese clients with legitimate wealth who should be banked properly.&rdquo
Moo, having been in the private wealth space for over 25 years, noted that Chinese clients have become a lot more sophisticated. They are more focused on preserving wealth through globally allocated assets than before, when they had more concentrated bets.
As more clients in China and elsewhere around the world look to diversify their assets away from their home jurisdictions, Moo believes this gives BOS an advantage, as it positions itself as a global private bank rooted in Asia.
The bank also has a global investment capability for Asian clients.
As part of the bank&rsquo s strategic review, it formed a separate chief investment office (CIO), which used to be part of the bank&rsquo s product group.
The CIO should be product agnostic given that it is purely focused on its investment strategy, Moo said.
The bank is also reorganising its coverage to focus on its three hubs &ndash in Singapore, Hong Kong and Dubai &ndash with regional offices reporting into the hubs.
Moo expects this will promote more collaboration within the offices.
It also encourages relationship managers to have more flexibility and cover areas they have an edge on, allowing teams to be more entrepreneurial.
During OCBC&rsquo s Asean-Greater China strategy update in July, Moo said BOS will aim to achieve US$145 billion in assets under management by 2025, and grow its number of relationship managers to 500.
To achieve its goals, he expects to continue hiring across its offices, and growing its three hubs for the year ahead.
&ldquo We are a regional name, and we are a Singaporean bank, but we have big ambitions to be a global investment allocator for clients from the inside out, (and outside in).
&ldquo That&rsquo s where we will continue to differentiate ourselves &ndash not just giving them capability to invest, but also advising them to invest on a global basis outside of Singapore.&rdquo
&ldquo The big focus for us is, we&rsquo re going to revitalise the terminology of &lsquo Asia&rsquo s global private bank&rsquo . We are rooted in Asia&hellip but we have global capabilities and global asset allocation,&rdquo said Moo, who took on the role in March 2023.
As part of its strategic review, BOS set up a family office platform to focus on its SFO value proposition, and provide dedicated coverage to financial intermediary clients, which include external asset managers and independent asset managers.
Assets under management for its financial intermediary clients also grew 60 per cent from 2020 to end-2022, making this one of the bank&rsquo s fastest growing segments, Moo noted.
&ldquo By creating a dedicated excellent centre for covering these financial intermediaries, we feel like we can have more dedicated resources when dealing with them.&rdquo
Your feedback is important to us
Tell us what you think. Email us at [email protected]
Tell us what you think. Email us at [email protected]
This reduces logistical difficulties for clients if they were to deal with the various banks themselves.
Banks that have their own trading desks may also be inclined to show clients their own prices, whereas BOS deals with different banks to find the best price.
Furthermore, Moo expects BOS to have an edge in the alternative investments space, having spent a lot of effort to build its alternative capital platform.
Assets under management for alternatives grew 50 per cent from 2019 to 2022. Moo noted that SFO clients also go to the bank a lot to deal in the alternatives space.
&ldquo We&rsquo re probably one of the best banks to help clients navigate this space, because we offer products along this entire spectrum.&rdquo
Singapore brand
Meanwhile, what makes the private bank stand out on the global stage is its Singapore brand, Moo said.He noted that the country has become more prominent in people&rsquo s minds in recent years. &ldquo We&rsquo re riding on the wave of Singapore viewed as a safe jurisdiction, especially after some of the turmoil in the market.&rdquo
Even with the ongoing S$2.8 billion anti-money laundering probe in Singapore, Moo said people have not been less inclined to invest in the Republic.
He noted that the swift action by the government, and cooperation from the whole banking system to address the probe, speak to the robustness of the country&rsquo s financial system.
While wealth from China may see extra scrutiny now due to the probe, Moo noted that the responsibility of extra vigilance should be on everyone.
&ldquo You don&rsquo t want to throw the baby out with the bathwater. There are a lot of good Chinese clients with legitimate wealth who should be banked properly.&rdquo
Moo, having been in the private wealth space for over 25 years, noted that Chinese clients have become a lot more sophisticated. They are more focused on preserving wealth through globally allocated assets than before, when they had more concentrated bets.
As more clients in China and elsewhere around the world look to diversify their assets away from their home jurisdictions, Moo believes this gives BOS an advantage, as it positions itself as a global private bank rooted in Asia.
Global aspirations
As a well-recognised brand in Asia, Moo expects that BOS should be able to capture global clients who are increasingly looking for an Asian or regional angle on research and trends.The bank also has a global investment capability for Asian clients.
As part of the bank&rsquo s strategic review, it formed a separate chief investment office (CIO), which used to be part of the bank&rsquo s product group.
The CIO should be product agnostic given that it is purely focused on its investment strategy, Moo said.
The bank is also reorganising its coverage to focus on its three hubs &ndash in Singapore, Hong Kong and Dubai &ndash with regional offices reporting into the hubs.
Moo expects this will promote more collaboration within the offices.
It also encourages relationship managers to have more flexibility and cover areas they have an edge on, allowing teams to be more entrepreneurial.
During OCBC&rsquo s Asean-Greater China strategy update in July, Moo said BOS will aim to achieve US$145 billion in assets under management by 2025, and grow its number of relationship managers to 500.
To achieve its goals, he expects to continue hiring across its offices, and growing its three hubs for the year ahead.
&ldquo We are a regional name, and we are a Singaporean bank, but we have big ambitions to be a global investment allocator for clients from the inside out, (and outside in).
&ldquo That&rsquo s where we will continue to differentiate ourselves &ndash not just giving them capability to invest, but also advising them to invest on a global basis outside of Singapore.&rdquo
chartistkao1 ( Date: 11-Oct-2023 17:12) Posted:
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https://investors.sgx.com/securities/stocks?security=O39
buy low at $8 to $13 and sell higher at $18 after 2025
https://www.businesstimes.com.sg/companies-markets/ocbc-expects-2-dip-2020-revenue-growth-virus-impact-ups-dividend-higher-q4-profit
chartistkao1 ( Date: 11-Oct-2023 11:16) Posted:
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fter taking profit from the highly leveraged reits and devlopers in sg and hk the money is reallocated into
https://www.cnbc.com/quotes/OCBC-SG
https://www.cnbc.com/quotes/0005.HK
chartistkao1 ( Date: 11-Oct-2023 11:04) Posted:
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I have a long-term investment horizon. I am generally a hoarder who adds to my equities holdings when I have time and/or spare cash. And I prune my holdings far too infrequently.
It&rsquo s convenient to hold stocks via the Central Depository Account or a nominee account with a bank. I need not fear losing physical share certificates, and dividends are generally paid in a timely manner, directly into one&rsquo s bank account, with hardly any need for monitoring on my part.
I favour Singapore equities because I am based here, comfortable with the local regulatory framework, and prefer Singapore-dollar denominated investments as I like the local currency.
The Singapore stock market suits yield-driven investors like myself. I hope that dividend income from equities can supplement other income sources, such as payouts under CPF Life, when I retire.
Given my preference to invest in larger-cap names, I have lots of exposure to Temasek-linked entities. Such entities make up nearly half the constituents of the benchmark Straits Times Index.
I am comfortable investing in groups in which Temasek is a big shareholder, as it would be counting on these entities delivering strong and sustainable performance so that it can contribute effectively to the government&rsquo s coffers.
For example, my family invests in entities in which the family of banker Wee Cho Yaw is a major shareholder. Examples include banking group UOB : U11 -0.39%, conglomerate Haw Par Corporation : H02 +0.1%, and property groups UOL Group : U14 -0.15% and Singapore Land Group : U06 +2.5% (SingLand).
A major reason for my confidence in the Wee stable of companies is the family has plenty of skin in the game.
Having worked in investment banking, I am wary of traders who take risky positions using other people&rsquo s money. If bets succeed, these traders receive big bonuses. If bets fail, other people bear the losses.
With the Wee stable of companies, I trust that business sustainability truly matters, as the family may seek to grow wealth to transfer to younger generations.
A parallel can be drawn with successive generations of political leaders here, who seek to grow Singapore in order to hand over a stronger nation to future generations.
With much wealth tied up in their listed holdings, I trust that Wee family members, in whatever capacities, are vigilant about risk management, long-term strategic planning and financial prudence.
Also, I can rely on the Wee-owned companies to pay steady and sustainable dividends, as the family benefits when shareholders are rewarded.
For sure, entities such as Haw Par, UOL and SingLand can do much more to unlock value. Based on the companies&rsquo share prices as at Oct 9 and net asset value (NAV) as at end-June, Haw Par, UOL and SingLand traded at a discount to NAV of 36 per cent, 49 per cent and 65 per cent respectively.
Take Haw Par. Might a corporate restructuring of the group whose business comprises healthcare, leisure, property and equities investments help unlock value?
Haw Par holds sizeable stakes in UOB and UOL, worth a combined value of around S$2.6 billion as at end-June, and which accounted for about 73 per cent of Haw Par&rsquo s total assets. Haw Par may be an inefficient vehicle to hold the said shares.
Boards of all listed entities should constantly work to unlock shareholder value.
Nonetheless, I am a patient investor who draws assurance from a business growing its NAV and profits, and which generates good cash flow over time, even if its share price is persistently below book value.
Over a 10-year period, UOL grew the interest of the shareholders from S$6.14 billion in 2012 to S$10.64 billion in 2022.
Throughout this period, the group&rsquo s gearing ratio was generally low &ndash often below 0.3 times. Also, UOL paid a fairly stable dividend per share (DPS) over the period, with total DPS for 2022 of S$0.18, up from S$0.15 for 2021.
Wee Ee Cheong had huge shoes to fill when he succeeded his father, Cho Yaw, as UOB&rsquo s chief executive officer (CEO) in 2007.
Fast forward to today, UOB has done well with Ee Cheong as CEO. He led the group through the global financial crisis and the Covid-19 pandemic, and was named Businessman of the Year at the 37th Singapore Business Awards in 2022.
UOB is embarking on exciting growth plans &ndash the group forked out almost S$5 billion to buy Citigroup&rsquo s consumer banking assets in Indonesia, Malaysia, Thailand and Vietnam to scale up its retail franchise in Asean.
Perhaps some family members are the most suitable business leaders. Ee Cheong would have gained from being mentored in banking and business by his father.
At property group City Developments Limited : C09 -0.6%, Kwek Leng Beng learnt from his father Kwek Hong Png. Today, Sherman Kwek, as group CEO, can count on the counsel of his father, Leng Beng, who is executive chairman.
Some children of business leaders may have no interest in running a business. Still, it should be unsurprising that many scions of business families thrive in the business world.
After all, examples abound of successful musicians, artists, sports persons and chefs who got headstarts and took inspiration from parents who are talented and/or passionate in the fields of music, arts, sports and cooking respectively.
There are some downsides to family ownership and involvement in businesses.
If a family feud erupts, business decision-making could slow and a company&rsquo s board may need to spend time managing feuding factions. Also, some family members may be ill-suited for the leadership roles that they assume in a listed group.
I envy the opportunities available to those born into prominent and established business families.
However, family members who run family-linked businesses face pressure to perform. There are legacies to protect, new challenges to conquer, external forces to manage and employees to support.
I wish storied business families, who helm local listed groups, every success, so investors riding with them can prosper too.
lee family also hod sizeable s great eastern and bukit sembwang
It&rsquo s convenient to hold stocks via the Central Depository Account or a nominee account with a bank. I need not fear losing physical share certificates, and dividends are generally paid in a timely manner, directly into one&rsquo s bank account, with hardly any need for monitoring on my part.
I favour Singapore equities because I am based here, comfortable with the local regulatory framework, and prefer Singapore-dollar denominated investments as I like the local currency.
Given my preference to invest in larger-cap names, I have lots of exposure to Temasek-linked entities. Such entities make up nearly half the constituents of the benchmark Straits Times Index.
I am comfortable investing in groups in which Temasek is a big shareholder, as it would be counting on these entities delivering strong and sustainable performance so that it can contribute effectively to the government&rsquo s coffers.
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Wee family entities
Beyond Temasek-linked names, the rest of my Singapore-focused equities investments are largely in groups which have families as major shareholders.For example, my family invests in entities in which the family of banker Wee Cho Yaw is a major shareholder. Examples include banking group UOB : U11 -0.39%, conglomerate Haw Par Corporation : H02 +0.1%, and property groups UOL Group : U14 -0.15% and Singapore Land Group : U06 +2.5% (SingLand).
A major reason for my confidence in the Wee stable of companies is the family has plenty of skin in the game.
Having worked in investment banking, I am wary of traders who take risky positions using other people&rsquo s money. If bets succeed, these traders receive big bonuses. If bets fail, other people bear the losses.
With the Wee stable of companies, I trust that business sustainability truly matters, as the family may seek to grow wealth to transfer to younger generations.
A parallel can be drawn with successive generations of political leaders here, who seek to grow Singapore in order to hand over a stronger nation to future generations.
With much wealth tied up in their listed holdings, I trust that Wee family members, in whatever capacities, are vigilant about risk management, long-term strategic planning and financial prudence.
Also, I can rely on the Wee-owned companies to pay steady and sustainable dividends, as the family benefits when shareholders are rewarded.
For sure, entities such as Haw Par, UOL and SingLand can do much more to unlock value. Based on the companies&rsquo share prices as at Oct 9 and net asset value (NAV) as at end-June, Haw Par, UOL and SingLand traded at a discount to NAV of 36 per cent, 49 per cent and 65 per cent respectively.
Take Haw Par. Might a corporate restructuring of the group whose business comprises healthcare, leisure, property and equities investments help unlock value?
Haw Par holds sizeable stakes in UOB and UOL, worth a combined value of around S$2.6 billion as at end-June, and which accounted for about 73 per cent of Haw Par&rsquo s total assets. Haw Par may be an inefficient vehicle to hold the said shares.
Boards of all listed entities should constantly work to unlock shareholder value.
Nonetheless, I am a patient investor who draws assurance from a business growing its NAV and profits, and which generates good cash flow over time, even if its share price is persistently below book value.
Over a 10-year period, UOL grew the interest of the shareholders from S$6.14 billion in 2012 to S$10.64 billion in 2022.
Throughout this period, the group&rsquo s gearing ratio was generally low &ndash often below 0.3 times. Also, UOL paid a fairly stable dividend per share (DPS) over the period, with total DPS for 2022 of S$0.18, up from S$0.15 for 2021.
Family members in executive roles
With listed groups where families hold big stakes, investors may be concerned over the suitability of family members to lead the business.Wee Ee Cheong had huge shoes to fill when he succeeded his father, Cho Yaw, as UOB&rsquo s chief executive officer (CEO) in 2007.
Fast forward to today, UOB has done well with Ee Cheong as CEO. He led the group through the global financial crisis and the Covid-19 pandemic, and was named Businessman of the Year at the 37th Singapore Business Awards in 2022.
UOB is embarking on exciting growth plans &ndash the group forked out almost S$5 billion to buy Citigroup&rsquo s consumer banking assets in Indonesia, Malaysia, Thailand and Vietnam to scale up its retail franchise in Asean.
Perhaps some family members are the most suitable business leaders. Ee Cheong would have gained from being mentored in banking and business by his father.
At property group City Developments Limited : C09 -0.6%, Kwek Leng Beng learnt from his father Kwek Hong Png. Today, Sherman Kwek, as group CEO, can count on the counsel of his father, Leng Beng, who is executive chairman.
Some children of business leaders may have no interest in running a business. Still, it should be unsurprising that many scions of business families thrive in the business world.
After all, examples abound of successful musicians, artists, sports persons and chefs who got headstarts and took inspiration from parents who are talented and/or passionate in the fields of music, arts, sports and cooking respectively.
There are some downsides to family ownership and involvement in businesses.
If a family feud erupts, business decision-making could slow and a company&rsquo s board may need to spend time managing feuding factions. Also, some family members may be ill-suited for the leadership roles that they assume in a listed group.
I envy the opportunities available to those born into prominent and established business families.
However, family members who run family-linked businesses face pressure to perform. There are legacies to protect, new challenges to conquer, external forces to manage and employees to support.
I wish storied business families, who helm local listed groups, every success, so investors riding with them can prosper too.
lee family also hod sizeable s great eastern and bukit sembwang
Singapore Investments (Pte) Limited
Of course, keep in mind that there are other factors to consider, too. Hedge funds don' t have many shares in Bukit Sembawang Estates. Looking at our data, we can see that the largest shareholder is Singapore Investments (Pte) Limited with 13% of shares outstanding.
https://www.marketscreener.com/quote/stock/BUKIT-SEMBAWANG-ESTATES-L-6492132/company/
https://en.wikipedia.org/wiki/Lee_Seng_Wee
https://www.marketscreener.com/quote/stock/GREAT-EASTERN-HOLDINGS-LI-6492653/company/
chartistkao1 ( Date: 11-Oct-2023 05:01) Posted:
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