OCBC is in talks with Singtel and others about seeking one of Singapore’s planned virtual banking licenses, Bloomberg reported Wednesday, citing sources.
Financials & Banks
These are Singapore companies which may be in focus on Wednesday, 21 August 2019: Singtel, Frasers Logistics, Venture, Eagle Hospitality Trust and Spackman.
Maxi-Cash reported Thursday its 2Q19 net profit dropped 20% on-year to S$2.80M amid lower sales from the retail of jewelry and branded merchandise.
SGX said Thursday its futures volume climbed in July as the escalating trade war fueled demand for risk management in commodities and foreign-exchange.
These are Singapore companies which may be in focus on Thursday, 8 August 2019: Fraser and Neave, Halcyon Agri, Koufu, Kimly and Noble.
SGX and India’s NSE said Tuesday they received regulatory dispensations for a joint proposal to boost the trading of Nifty products.
DBS upgraded Singapore Exchange to Buy from Hold, pointing to strong demand for risk management instruments amid market uncertainty.
UOB reported Friday 2Q19 net profit rose 8% on-year to S$1.08 billion, beating forecasts from CGS-CIMB and Daiwa, amid strong wealth management flows.
OCBC reported Friday its 2Q19 net profit rose 1% on-year to S$1.22B as record earnings from the bank offset lower income contributions from Great Eastern.
DBS topped profit forecasts after its net interest margin rose more than forecast, but it isn’t clear if OCBC and UOB can match the performance.
Great Eastern said Thursday its 2Q19 net profit dropped 29% on-year to S$169M on lower non-operating profit and lower profit from the shareholders’ fund.
SGX reported Wednesday its full-year net profit rose 7.7% on-year to S$391.10M, an 11-year high, on a strong derivatives business performance.
These are analyst calls after DBS reported Monday its second quarter net profit jumped 20 percent on-year, beating expectations.
RHB downgraded DBS to Neutral from Buy on expectations the bank’s net interest margin (NIM) likely hit its peak in the second quarter.
Maybank KimEng downgraded DBS to Hold from Buy, citing increased uncertainty from slower economic growth, potential rate cuts and “souring asset quality.”
The U.S. Federal Reserve may be set to cut rates ahead, but DBS CEO Gupta was sanguine on the earnings impact for the bank.
DBS reported its second quarter net profit Monday jumped 20 percent on-year to S$1.60 billion on corporate loan growth, a higher NIM and record fee income.
Wealth-management platform iFAST Corp. reported Saturday its 2Q19 net profit dropped 16.5 percent on-year to S$2.45 million amid platform-development costs.
DBS is expected to report its 2Q19 earnings grew on-year, but analysts expect the quarter may mark the peak for the bank’s net interest margin.
DBS Bank Indonesia said Wednesday it signed a sustainability-linked export financing loan with PT Sumatera Timberindo Industry (STI), a wooden-door maker.
Yoma Strategic reported Wednesday its fiscal 1Q net loss widened to US$13.33 million, from US$5.64 million in the year-ago period.
iFAST Global Markets has launched a mobile app targetting the wealth advisory market, the company said in a filing to SGX Monday.
These are Singapore companies which may be in focus on Friday, 19 July 2019: Keppel, SATS, Thai Beverage, OCBC, Prime US REIT and AA REIT.
United Overseas Bank said Wednesday its Sydney branch plans to issue A$500 million of floating rate notes due July 2022.
Maxi-Cash said Tuesday it plans to issue an additional S$23.5 million of 6.35 percent notes due 2022 after receiving interest from its investors.
SGX RegCo is seeking feedback on potential changes to its auction mechanism to prevent extreme price dislocations, the exchange said in a statement Monday.
These are Singapore companies which may be in focus on Monday, 15 July 2019: Wilmar, Singapore Press Holdings, Cordlife and Maxi-Cash.
Pernod Ricard completed a deal to take a 34% stake in Seagram MM Holdings, a JV between Yoma, the Win brothers and Delta Capital Myanmar, Yoma said Sunday.