OCBC Bank    Last:23.51    -0.42

preparing for 2022 the next rise in ocbc share

march 2020 is the start of the 7 years cycle so enjoy the ride in 2022 year of the toothless tiger
https://www.investopedia.com/terms/j/josepheffect.asp

 

http://finance.sina.com.cn/leadership/crz/20080428/15514810750.shtml

 

金 手 指

Oei Hong Leong to donate $2.7m in proceeds of REC share sale to NUS

SINGAPORE - Billionaire Oei Hong Leong, a substantial shareholder of embattled education services provider Raffles Education Corporation (REC), is donating $2.7 million to the National University of Singapore (NUS).
A letter seen by The Straits Times shows that Mr Oei signed and addressed it to NUS president Tan Eng Chye on Wednesday (Oct 20).
" I am an active investor in the stock market and I have always cherished companies that practise good corporate governance," Mr Oei  stated in the letter. " It is my sincere wish that this funding to support independent research into this area  including contract law development will assist with improvement in the corporate governance structure in Singapore."
NUS has not yet said if it has accepted the donation.
The sum donated is equivalent to the total proceeds  Mr Oei received for the sale of 38.9 million REC shares several days ago. According to a bourse filing after the market closed on Monday, Mr Oei pared his stake in the company from 10.16 per cent to 7.34 per cent. The sale translates to an average price of 6.9 cents per share.
After the sale on Monday, the mainboard-listed stock tumbled 2.1 cents, or 25.6 per cent, to 6.1 cents - its lowest ever - with more than 52 million shares changing hands.
REC called for a trading halt on Tuesday. It has three working days to resume trading under Singapore Exchange (SGX) rules.
In a widely circulated letter addressed to the board of directors of REC on Monday, ahead of the company' s annual general meeting to be convened on Oct 30, Mr Oei questioned the varying amounts of cash REC paid to the wife, sons and daughter-in-law of chairman and chief executive Chew Hua Seng. According to an independent auditors report by BDO, Mr Chew' s wife Doris Chung Gim Lian was paid $372,240 in directors fees, salaries, bonuses and other benefits for the financial year ended June 30.
His sons Chew Han Wei and Chew Han Qiang were paid $185,040 and $186,773, respectively,  over the same period.
These sums were higher than the fees paid to other directors of the company.
REC dismissed the questions in a response on Monday night to SGX queries on its trading activity, saying it viewed Mr Oei' s letter as containing " bare allegations and material inaccuracies which are not substantiated" .
It added that it is taking legal advice and intends to respond to the letter in due course. Mr Oei also asked why Mr Chew was paid $2.8 million for the year when auditors had highlighted material uncertainty on its ability to continue as a going concern.
The auditors have also highlighted that the group' s liabilities exceeded its current assets by $196.4 million for the financial year ended June 30.
In an Oct 8 statement, REC cited mitigating factors and suggested it was confident that its " net current liabilities position will not likely pose material uncertainty on the ability of the group and of the company as a going concern" .
This is not the first time Mr Oei and Mr Chew have locked horns.
Mr Oei sued Mr Chew three years ago after the latter allegedly broke an undocumented promise to procure a buyer for Mr Oei' s then 12 per cent stake in REC at 44 cents per share.
Mr Oei lost the lawsuit in February 2020 and has since been an active critic of Mr Chew, REC and its board.
 

 

SINGAPORE - A young Chinese couple with a baby begin a pandemic lockdown with optimism. As the weeks go on, closeness gives way to anxiety and irritation. As the economy slows and work dries up, self-esteem takes a dive. Can their relationship take the strain?
Film-maker Anthony Chen' s own London household went through trials similar to those in the 24-minute domestic drama The Break Away, his contribution to the anthology The Year Of The Everlasting Storm. The film opens in cinemas on Oct 21.
Speaking to The Straits Times in an online video call from Shanghai, where he is working a new project, Chen, 37, says his screenplays for films - such as the 2013 winner of the Camera d' Or award at the Cannes Film Festival, Ilo Ilo (2013) - are drawn from life.
 

 

singapore is a global hub the sooner it is opened out to connect to the global world the least suffering it will have after two bloody years of circuit breaker and hightened alert from 2020 to 2021
https://www.youtube.com/watch?v=DCkJ5lGPqFs

 

今 天 市 場 的 反 彈 總 體 是 對 超 跌 個 股 的 一 種 修 正 ， 本 身 的 上 漲 動 力 還 不 算 很 充 沛 ， 除 非 是 出 現 新 的 領 漲 品 種 ， 週 五 又 到 週 末 ， 估 計 市 場 的 心 態 又 會 趨 於 謹 慎 ， 無 論 是 港 股 還 是 新 股 ， 目 前 的 策 略 都 是 不 建 議 將 子 彈 打 得 太 慢 ， 保 存 實 力 ， 等 待 上 升 趨 勢 確 立 ！

after selling ocbc in middle year of 2021 when the center bank say banks can raise in dividend for 2021 the ocbc share was sold down until 20 sept 2021 and soon the fun managers will have to buy back for the new year 2022 performance,just watch the movement of ocbc share for the last few months of 2021