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DBS
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zhuge_liang
Supreme |
11-Jun-2007 20:46
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It has called off talks with US private equity fund Lone Star to buy a stake in Korea Exchange Bank (KEB) because of legal uncertainties on the deal. Dallas-based Lone Star, which owns a majority 64.62% stake in KEB, is mired in controversy over the legality of its acquisition of the South Korean bank in 2003. A South Korean parliamentary panel in March called for Lone Star's takeover of KEB to be cancelled after a state audit body said the deal was flawed. "DBS was in exploratory talks with Lonestar regarding acquiring a stake in KEB," a DBS spokesman said in a statement. "We notified Lone Star that we would not be going forward due to the uncertainties in the market surrounding the local issues that have been going on for over a year," the spokesman said. South Korea's Yonhap news agency quoted John Grayken, chairman of Lone Star, as saying the fund is open to divesting its KEB stake if a buyer emerges before a Seoul court rules on the legality of its acqusition. In Nov, Lone Star said it had to withdraw from a US$7.4 billion deal to sell KEB to South Korea's largest lender, Kookmin Bank, after judges granted prosecutors arrest warrants for two US-based Lone Star executives. South Korean prosecutors have investigated Lone Star, among others, for allegedly conspiring with local officials to drive down the bank's price. State auditors have accused former KEB chief Lee Kang-Won of helping Lone Star acquire the bank cheaply by inflating its debt figure. Lone Star took over KEB by buying a 50.5% stake for some US$1.5 billion in '03 and it later increased its holding to 64.62%. |
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singaporegal
Supreme |
28-Mar-2007 21:53
Yells: "Female TA nut" |
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DBS is on a strong TA downtrend... both Acc/Dist and Chaikin are falling sharply. |
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zhuge_liang
Supreme |
28-Mar-2007 11:27
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It fell as much as 2.3% to $21.10 on news that the bank is contacting investors to form a multinational consortium to buy Korea Exchange Bank (KEB) from U.S. fund Lone Star. DBS declined to comment on the reported interest in KEB. "Investors expect DBS to pay a premium for a stake in a bank," said a dealer from a regional brokerage. |
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lucky168
Veteran |
03-Mar-2007 00:42
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let's target $19.90 for DBS |
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wait4opp
Veteran |
16-Jan-2007 13:01
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DBS GROUP HOLDINGS FULL-YEAR 2006 FINANCIAL RESULTS SINGAPORE, 16 JANUARY 2007 - DBS Group Holdings will announce its full-year 2006 Financial Results on Thursday, 15 February during the lunchtime suspension of trading on the Singapore Exchange. The financial statements and press release will be available on SGXNET and DBS' website www.dbs.com. A media and analysts briefing will be webcast 'live' on www.dbs.com/investor at 5:00pm, Singapore time on 15 February 2007. |
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jackjames
Elite |
16-Dec-2006 08:19
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My landlord sold 80% of his DBS stocks.. he is currently invest in HGMetal, Fiberchem. Good luck guys. I am flying to Germany in 3 hours time.. will be back on Thursday~ I am still able to online there though... |
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lighthouse
Member |
14-Dec-2006 22:31
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shot up 40 cents... warrant jump... not sure will it hit 23 at before 2007 |
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singaporegal
Supreme |
13-Dec-2006 16:27
Yells: "Female TA nut" |
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Looks to be on a short term downtrend |
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lighthouse
Member |
13-Dec-2006 15:36
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resistance breached... target 21.80...and then...up up up |
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lighthouse
Member |
13-Dec-2006 14:18
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sudden surge in price as I mentioned the 21.50 resistance. next target 21.80. go go go |
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lighthouse
Member |
13-Dec-2006 14:06
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brokers said resistance is at 21.50, now below resistance. hope it will recover soon and reach next target 21.80 |
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Nostradamus
Supreme |
01-Nov-2006 00:59
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Morgan Stanley says it has lowered its rating to "underweight" from "equal-weight" and reduced its target price to $18.30 from $19.00 because a recent run-up in the stock means its market price has now exceeded its fundamentals. "The market appears to believe that [its] earnings momentum is sustainable. This is way too optimistic, in our view," Morgan Stanley said in a note to clients. Morgan Stanley said that while this year would be a year of strong growth for DBS, its earnings momentum appears to peaking. "The relevant structural drivers look to have matured, and may even turn against DBS," Morgan Stanley said. |
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Nostradamus
Supreme |
30-Oct-2006 22:24
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"Despite the strong performance and ideal macroeconomic backdrop, we downgrade to 'neutral' due to a few concerns," Merrill Lynch analyst Tony Raza said in a note to clients. Raza said that while he believed the economy here would be robust, DBS would have to show improvements in return on equity before a further upward re-rating could be justified. "Despite record earnings, ROE dropped from 12.7% last quarter to 12.3% [in the third] quarter. We don't need 15% ROE within the year, but we need to see how it could be achieved and what the plan is to get there," Raza said. Raza is unlikely to get his wish in the near term because DBS's net interest margins are softening, despite strong growth in demand for loans, analysts said. While DBS's third-quarter net interest margins rose to 2.17% from 1.92% a year before, they were down from the second-quarter level of 2.23%. "The problem is that since loan spreads are quite narrow, DBS's earnings are less leveraged to loan growth. We find that if loan growth increases from 8% to 10%, earnings will only increase 5%," Raza said. Deutsche Bank analyst Sam Chin, raising the same concern about DBS's margins, said he had lowered his rating for DBS to "hold". "DBS's margins are likely to have peaked, but volume growth should be strong into 2007, and we expect 12-15% loan growth," Chin said. China said that while stronger loan growth next year could boost DBS's earnings, the key catalyst for the bank's earnings was a recovery in interest rate-related treasury income. CIMB-GK Research has cut its rating for DBS to "neutral" from "outperform", with a target price of $22.55. "DBS no longer trades at discount valuations to [the banking] sector," CIMB-GK said in a note to clients. "To take DBS beyond our current 13% ROE estimates and above our $22.55 target price, Singapore's loan growth alone is not enough, " it said. JP Morgan, while keeping its "overweight" rating for DBS, is advising clients to accumulate the stock on weakness because the growth in domestic lending here remains encouraging. "Loans grew 2% quarter-on-quarter, but margins contracted largely due to [an] industry-wide shift towards higher-cost fixed deposits. The redeeming factor was broad-based loan growth supported by 3%quarter-on-quarter growth in consumer loans as prepayments eased after three quarters," the brokerage said in a note to clients. "This is an encouraging trend which, along with building and construction loans, is expected to underpin loan growth going forward," JP Morgan said. |
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Nostradamus
Supreme |
30-Oct-2006 22:16
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Deutsche Bank said it has downgraded its rating to a "hold" from a "buy," noting the limited upside of the bank's share price compared to the brokerage's target price of $22.00. "We do not discount the possibility that DBS' stock price could rise significantly beyond our target, but investors should ponder the current valuations," Deutsche Bank analyst Sam Chin said in a note. "Without clear revenue drivers (such as a steeper yield curve), a rise beyond current valuations is likely to be temporary," he said. "DBS margins are likely to have peaked, but volume growth should be strong into 2007 and we expect 12-15% loan growth," Chin said. "This would imply a 6-7% earnings growth, but the key catalyst will be a recovery in interest rate-related treasury income, which is currently sub-normal because of an inverted yield curve," he added. Chin said a normalized level of treasury income could allow DBS to reach 15% ROE. Deutsche Bank forecasts DBS to report a $2.20 bln net profit this year from last year's $808 mln. |
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Nostradamus
Supreme |
30-Oct-2006 22:13
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OCBC says it has raised its fair value to $21.10 from $19.30 to reflect its expectation that the company's earnings will be higher this year and next. "While we have always favoured DBS as our pick within the banking sector for its ability to see greater uplift in terms of interest income, it is also the best performing banking stock this year, up 28% so far this year vs 25% for UOB and 5% for OCBC," OCBC said in a note to clients. Nevertheless, OCBC is keeping its "hold" rating for DBS in view of the limited upside to its price. "While we expect DBS to continue to benefit from the present higher 3-month interbank rate environment due to its large deposit base and its ability to tap ... the good economic growth prospects at home and in Hong Kong, further price upside from [the] current level is likely to be limited as early signs are pointing to a slowdown in 2007," OCBC said. |
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Nostradamus
Supreme |
30-Oct-2006 22:08
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Daiwa has raised its target price to $22.20 from $20.90 after the bank posted better-than-expected results for the third quarter. "We believe DBS remains the best bank to own in Singapore and the third-quarter results have reinforced our view," it said. Daiwa expects DBS's net profit to rise to $2.26 bln this year from $824 mln last year, to $2.45 bln next year and to $2.79 bln in 2008. Daiwa said it expected DBS stock to continue to outperform the market. "With the Straits Times Index already breaching record highs we can still reasonably expect DBS to outperform a range-bound market over the next six months. Moreover, with its growth story and preeminence among Singapore banks intact, we cannot ignore the possibility that market euphoria can drive the share price even higher," Daiwa said. |
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YongJiu
Veteran |
25-Oct-2006 09:10
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Another round of M&A discussion on Sg Banking sector StanChart could buy Singapore''s DBS SINGAPORE, Oct 23 (Reuters) - Asia-focused bank Standard Chartered Plc could take over Singapore''s DBS Group Holdings , Southeast Asia''s biggest bank, but is not looking for an immediate deal, a newspaper reported on Monday. Speaking in an interview with daily Straits Times, Standard Chartered <2888.HK> Group Executive Director Kai Nargolwala was quoted as saying that a takeover of a local bank in Singapore was not ruled out as long as it made sense financially. "You could make a case for it. But I don''t think it''s something that''s so compelling that it would have to be done as quickly as possible," the newspaper quoted Nargolwala as saying in reference to DBS. In March, Singapore state investment firm Temasek [TEM.UL], which owns 28 percent of DBS, bought an 11.6 percent stake in Standard from the estate of late banking tycoon Khoo Teck Puat in a move that some analysts said could be the first step to a merger with DBS. But Nargolwala said Temasek was not in a position to force it to merge with the Singapore bank, which is itself looking for acquisitions in Asia, and that the secretive state investment holding was primarily a financial investor. "If the two banks decided at some point in time that it makes sense for them to combine, then that would be up to the management of the two banks." Temasek''s stake in Standard Chartered is worth about $4.3 billion.  |
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Nostradamus
Supreme |
17-Oct-2006 13:16
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Citigroup has downgraded its rating to "sell" from "hold" after the recent rally in the share price, which may have factored in the earnings outlook for next year. It, however, raised its target price to $20.35 from $18.90. "This is our first 'sell' on DBS since January 2004. A 19% six-week rally has in our view priced in much of the 2007 earnings upside," Citigroup said in a note. The rating is set against the background of peaking margins due to falling interest rates and muted growth in mortgage growth. Citigroup said mortgage growth will likely pick up in 2008. It assumes 7% loan growth in 2007-2008. It expects DBS to post $2.17b in net profit this year and $2.20b next year. The bank made $824m in 2005 after an impairment charge of $1.13b. |
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Nostradamus
Supreme |
13-Oct-2006 10:30
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It rose after UBS raised its price target to $25 from $21.50. Analyst Jaj Singh said that the bank's future earnings would be fuelled by stronger loan growth and rising interest rates. "We think DBS looks set for a re-rating as its core ROE could reach an all-time high of 13.3% in 2007, powered by a sustained rebound in margins and strong loan growth," Singh said. |
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Nostradamus
Supreme |
09-Oct-2006 18:54
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J P Morgan says it has raised its target price to $23.10 from $19.80 because it expects the bank's earnings over the next three years to be slightly higher than it previously thought. "We are increasing our target price," J P Morgan said in a note, "as we increase our earnings estimates by 2-4% for 2006-2008, and [our] normalized return of equity assumption to 12.5% from 12.3%." J P Morgan now forecasts that DBS will make $2.22b in net profit this year, $2.27b next year and $2.42b in 2008. "Domestic-reflation-led growth, with lower exposure to exporters, coupled with margin resilience makes for a good defensive play," J P Morgan said. It said DBS was its top pick among banks here. "We believe the stock is set to outperform on both [an] absolute and [a] relative basis, as it continues the run, after underperforming [the] Singapore finance index since 2001," the brokerage said. |
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