Singapore Stock Market News
OCBC - WHB contributions come in
StockFanatic
Publish date: Thu, 30 Oct 2014, 11:29 PM
StockFanatic
0 10,452
Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
3Q14 net profit (S$841m) was in line with our (S$849m) and consensus expectations (S$839m). 3Q14 and 9M14 profit were 24% and 77% of our full-year estimates, respectively. 3Q included a one-off gain (S$391m) for Bank of Ningbo as OCBC crossed the 20% ownership threshold and booked gains on its original stake as the former's status to associate. Operationally, the differences in revenue and costs came mostly from the consolidation of Wing Hang Bank (WHB). We tweak EPS 0-2% to account for Ningbo's associate contributions.
We maintain our Add rating, with a slightly lower GGR-based target price (1.37x CY15 P/BV), as share dilution to buy WHB is offset by a rollover to end-15 valuations. Potential catalysts include delivery of WHB synergies and sustained growth from its wealth management franchise.
Read more » Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
Market Buzz
More articles on Singapore Stock Market News
Market Commentary: Record highs on trade, vaccine developments
Created by StockFanatic | Aug 26, 2020
Market Commentary: Record highs on trade, vaccine developments
Created by StockFanatic | Aug 26, 2020
Market Commentary: Data help US market end week on a high note
Created by StockFanatic | Aug 24, 2020
Market Commentary: Data help US market end week on a high note
Created by StockFanatic | Aug 24, 2020
Market Commentary: And they are back, with S&P within inches of record high close
Created by StockFanatic | Aug 13, 2020
Market Commentary: And they are back, with S&P within inches of record high close
Created by StockFanatic | Aug 13, 2020
Market Commentary: US negotiations over stimulus continue amid diplomatic tensions
Created by StockFanatic | Aug 11, 2020
Market Commentary: US negotiations over stimulus continue amid diplomatic tensions
Created by StockFanatic | Aug 11, 2020
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Latest Videos
Apps
Top Articles
1
RHB Investment Research Reports
2
RHB Investment Research Reports
ST Engineering - Rolling Forward Our Valuation; Reiterate BUY
3
SGX Market Dialogues
Kopi-C With GuocoLand’s Group CEO: ‘We Have Twin Engines for Growth’
4
CEO Morning Brief
Singapore Home Sales Set for Worst Year Since Financial Crisis
5
CEO Morning Brief
DBS Posts 300% Growth in Semi-liquid Fund Sales in Greater China
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
