UPDATE: OCBC in talks with Singtel on virtual bank licenses: Bloomberg
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
UPDATE: Singapore stocks to watch Wednesday: Singtel, Frasers Logistics, Venture, Eagle Hospitality
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 reports 2Q19 net profit dropped 20 percent amid lower retail sales
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 posts jump in July futures volume as US trade war fuels demand
SGX said Thursday its futures volume climbed in July as the escalating trade war fueled demand for risk management in commodities and foreign-exchange.
UPDATE: Singapore stocks to watch Thursday: Singtel, CityDev, F&N, Halcyon Agri, Koufu, Noble
These are Singapore companies which may be in focus on Thursday, 8 August 2019: Fraser and Neave, Halcyon Agri, Koufu, Kimly and Noble.
SGX-NSE Connect gets regulatory OKs in step toward resolving Nifty dispute
SGX and India’s NSE said Tuesday they received regulatory dispensations for a joint proposal to boost the trading of Nifty products.
Singapore Exchange upgraded to Buy by DBS on strong demand for risk management
DBS upgraded Singapore Exchange to Buy from Hold, pointing to strong demand for risk management instruments amid market uncertainty.
UPDATE: UOB reports 2Q net profit rose 8 percent amid strong wealth management flows
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.
UPDATE: OCBC reports 2Q net profit rose 1 percent, beating forecasts despite lower Great Eastern income
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.
OCBC and UOB: Can Singapore banks pull a net interest margin trifecta?
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 reports 2Q19 net profit dropped 29 percent
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.
Singapore Exchange reports fiscal full year net profit hit 11-year high
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.
Analyst briefings: DBS 2Q19 earnings
These are analyst calls after DBS reported Monday its second quarter net profit jumped 20 percent on-year, beating expectations.
RHB downgrades DBS on expectations net interest margins hit their peak
RHB downgraded DBS to Neutral from Buy on expectations the bank’s net interest margin (NIM) likely hit its peak in the second quarter.
DBS downgraded by Maybank KimEng on macro headwinds
Maybank KimEng downgraded DBS to Hold from Buy, citing increased uncertainty from slower economic growth, potential rate cuts and “souring asset quality.”
DBS: This is how much a Fed rate cut could hit earnings
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.
UPDATE: DBS reports 2Q19 net profit jumped 20 percent, beating forecasts
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.
iFAST reports 2Q19 net profit fell 17 percent on costs for adding services
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: Will 2Q19 be as good as it gets?
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 inks sustainability-tied loan with Indonesian wooden door maker
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 reports fiscal 1Q net loss widened as Yoma Land revenue dropped
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 launches mobile app to assist wealth advisers
iFAST Global Markets has launched a mobile app targetting the wealth advisory market, the company said in a filing to SGX Monday.
Singapore stocks to watch Friday: Keppel, SATS, ThaiBev, OCBC, Prime US REIT
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.
UOB’s Sydney branch prices A$500 million three-year notes
United Overseas Bank said Wednesday its Sydney branch plans to issue A$500 million of floating rate notes due July 2022.
Maxi-Cash to issue additional notes due 2022 after investor interest
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 seeks feedback on possible changes to auction methods
SGX RegCo is seeking feedback on potential changes to its auction mechanism to prevent extreme price dislocations, the exchange said in a statement Monday.
UPDATE: Singapore stocks to watch Monday: Wilmar, SPH, Cordlife, Maxi-Cash
These are Singapore companies which may be in focus on Monday, 15 July 2019: Wilmar, Singapore Press Holdings, Cordlife and Maxi-Cash.
Pernod Ricard completes deal to take stake in Yoma whisky JV
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.
