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wow!! uob, many oldies are still holding on to their shares.. i remember this company issue stock splits before many year ago. good dividends, a pillow stock for the old timer :)
UOB finally showing it's true colors..19.66
star bank performer..
ozone2002 ( Date: 14-Oct-2010 15:52) Posted:
uob has been in consolidation mode for very long..
laggard amongst the banks..
good to vest below 18.9
not vested..wanna do ipo quickie :) |
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UOB has been the best performer for the past few sessions :D
Just a hunch, I think all three will be down tomorrow as market takes a breather.
Sort of like Kallang wave. First DBS ran up $1, then followed by OCBC soon after, and now it's UOB's turn...
DBS and UOB had been laggards last year, so I believe this year they will be able to outperform OCBC.
Cheers bro!
I think UOB has a good chance of hitting $19 or more this week :)
DMG stays neutral on Singapore banks; UOB top pick | WRITTEN BY DOW JONES & CO, INC |
| MONDAY, 03 JANUARY 2011 11:06 |
Singapore banking stocks are up 0.6% to 1.2%, in line with the STI’s 1.0% rise, likely reflecting robust underlying optimism over the domestic economy heading into 2011, but volume is tepid with DBS (D05.SG), UOB (U11.SG) and OCBC (O39.SG) all registering less than a million shares traded so far.
DMG says that housing loans remain the sector’s pillar of strength after loan growth in November came in at +14.5% on year (vs October’s +13.8%), driven largely by housing mortgages.
“However, we expect the banking sector to continue to be plagued by narrow NIMs, as SIBOR is seen to remain soft over the next few months.” The house maintains a Neutral call on the sector.
UOB is the house’s top pick, rated Buy with a $22.00 target, due to its low P/B of 1.5X vs OCBC’s 1.8X. The house expects 2011 loan growth to slow to around 8.0% due to the government’s cooling measures and a higher 2010 base.
It was a coordinated against other big counters including OCBC, DBS & SGX. I believe the price will correct itself upon the opening bell on Monday.
epliew ( Date: 31-Dec-2010 13:11) Posted:
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brother any explanation for such a huge sell down ?
bsiong ( Date: 31-Dec-2010 09:15) Posted:
United Overseas Bank Ltd (“UOB”) announced that its wholly-owned subsidiary, UOB Asset Management Ltd (“UOBAM”), has obtained approval from the China Securities Regulatory Commission to set up a joint venture fund management company in China with China Ping An Trust Co., Ltd. (“Ping An Trust”) and Sanya Yingwan Tourism Co., Ltd (“Sanya Yingwan”). The joint venture will be named Ping An UOB Fund Management Company Limited (“Ping An UOB FMC”). Pursuant to the joint venture, UOBAM will hold 25% of shares in Ping An UOB FMC, whilst Ping An Trust and Sanya Yingwan will hold 64% and 11% of the remaining shares respectively. Ping An UOB FMC will have an initial paid-up capital of RMB 300 million (SGD 58.5 million1), with UOBAM’s 25% equity participation amounting to RMB 75 million (SGD 14.6 million1). The shareholders will be subscribing for their respective shareholding in Ping An UOB FMC in cash at par. Headquartered in Shenzhen, Ping An UOB FMC will undertake fund management activities in China , offering retail investors in China , the opportunity to invest into China ’s domestic markets. UOBAM increased its paid-up share capital in connection with the joint venture. UOB had subscribed for an additional 60,000,000 ordinary shares fully paid in UOBAM, for a total cash consideration of S$60,000,000. After the subscription, UOB holds 63,000,000 ordinary shares fully paid in UOBAM.
/sgxmasnet/
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every year today, you will witness how kelong our stock market is! Many
of the index stocks are manipulated... look at what happen to C&C,
UOB, Capland at the closing hour... all shot down by BB... what a joke
for STI to register in red for the day! The SGX "regulator" only zip
mouth quiet quiet and don't dare to speak up...
... only know
how to cover backside first.
brother any explanation for such a huge sell down ?
bsiong ( Date: 31-Dec-2010 09:15) Posted:
United Overseas Bank Ltd (“UOB”) announced that its wholly-owned subsidiary, UOB Asset Management Ltd (“UOBAM”), has obtained approval from the China Securities Regulatory Commission to set up a joint venture fund management company in China with China Ping An Trust Co., Ltd. (“Ping An Trust”) and Sanya Yingwan Tourism Co., Ltd (“Sanya Yingwan”). The joint venture will be named Ping An UOB Fund Management Company Limited (“Ping An UOB FMC”). Pursuant to the joint venture, UOBAM will hold 25% of shares in Ping An UOB FMC, whilst Ping An Trust and Sanya Yingwan will hold 64% and 11% of the remaining shares respectively. Ping An UOB FMC will have an initial paid-up capital of RMB 300 million (SGD 58.5 million1), with UOBAM’s 25% equity participation amounting to RMB 75 million (SGD 14.6 million1). The shareholders will be subscribing for their respective shareholding in Ping An UOB FMC in cash at par. Headquartered in Shenzhen, Ping An UOB FMC will undertake fund management activities in China , offering retail investors in China , the opportunity to invest into China ’s domestic markets. UOBAM increased its paid-up share capital in connection with the joint venture. UOB had subscribed for an additional 60,000,000 ordinary shares fully paid in UOBAM, for a total cash consideration of S$60,000,000. After the subscription, UOB holds 63,000,000 ordinary shares fully paid in UOBAM.
/sgxmasnet/
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Wow. Lucky for those guys that have sold off yest and this morning.
Is a good earning opportunity for those managed to grab at $18.14..
United Overseas Bank Ltd (“UOB”) announced that its wholly-owned subsidiary, UOB Asset Management Ltd (“UOBAM”), has obtained approval from the China Securities Regulatory Commission to set up a joint venture fund management company in China with China Ping An Trust Co., Ltd. (“Ping An Trust”) and Sanya Yingwan Tourism Co., Ltd (“Sanya Yingwan”). The joint venture will be named Ping An UOB Fund Management Company Limited (“Ping An UOB FMC”).
Pursuant to the joint venture, UOBAM will hold 25% of shares in Ping An UOB FMC, whilst Ping An Trust and Sanya Yingwan will hold 64% and 11% of the remaining shares respectively. Ping An UOB FMC will have an initial paid-up capital of RMB 300 million (SGD 58.5 million1), with UOBAM’s 25% equity participation amounting to RMB 75 million (SGD 14.6 million1). The shareholders will be subscribing for their respective shareholding in Ping An UOB FMC in cash at par.
Headquartered in Shenzhen, Ping An UOB FMC will undertake fund management activities in China , offering retail investors in China , the opportunity to invest into China ’s domestic markets. UOBAM increased its paid-up share capital in connection with the joint venture. UOB had subscribed for an additional 60,000,000 ordinary shares fully paid in UOBAM, for a total cash consideration of S$60,000,000. After the subscription, UOB holds 63,000,000 ordinary shares fully paid in UOBAM.
/sgxmasnet/
many people know the resistance is at $19, so it is very likely that many kan cheong spiders will sell tomorrow if the price goes up to $18.50-60...
that's our kiasi stinkaporean's spirit!
In singapore, people are more than willing to buy property when the price plunge.
goondoo ( Date: 30-Dec-2010 09:37) Posted:
Actually this is the risk that Singapore banks face and weighing on their share prices.
The loan book for the Sg banks for property has grown from below 30% several years ago to 50% currently at end 2010.
It is very risky for the banks to put all their eggs in one basket or rather all their loans on property, diversification is the key to managing risks.
However, the banks have no choice, manufacturing sector is dwindling in Singapore despite the govt's best efforts and so are manufacturing loans.
Construction is slowing down after the 2 IRs are completed as well as the recent anti speculation moves on property.
The SG banks have to way to maintain their loan books and have no choice but to squeeze into the property loan market.
This proves to be the Archilles heel for SG banks and their share price as we all know the US banks collapse due to the sub-prime crisis which is closely linked to loans to the property and real estate market when the US property bubble burst in 2007. Property prices are highly sentiment driven and extremely illiquid and considered very high risk for the SG banks. When property prices plunge rapidly, it will be very difficult to find a buyer even if you are trying to sell at a huge discount to valuation and valuation will drop every day.
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If I am not wrong, $19 strong resistance was based on last week's chart. This weak, MACD has signalled for an uptrend. At $19 equilibrium price, the strong resistance would be at $19.50 or more.
On the other hand, with OCBC at the strong resistance of $10, wouldn't that make OCBC a far weaker proposition for buying? Furthermore, the feel good factor after all the overseas marketing talk by OCBC Management has already been priced in by the market and the OCBC stock price is already at the "crossroad".
Well, as many chartists have indicated, $19 is strong resistance. So there is another 50 cents more to go, which I personally feel is not very exciting for a $18 stock.
ktnpl2005 ( Date: 30-Dec-2010 15:59) Posted:
There is still another leg to run next week due to January effect. You won't want to miss that.
New123 ( Date: 30-Dec-2010 11:57) Posted:
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Ppl will be taking profit tdy or tmr. It has come up quite fast from $17.80 to $18.46.. |
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I'm sorry to spoil your mood but a $45m fund for UOB is akin to your boss giving you a $2 increment, not very exciting.
money_maker ( Date: 30-Dec-2010 15:27) Posted:
Singapore's UOB unit forms fund JV in China
Dec 30 (Reuters) - Singapore's United Overseas Bank Limited (UOB) said on Thursday its UOB Asset Management unit had been approved to set up a joint venture fund management firm in China with China Ping An Trust Co Ltd and Sanya Yingwan Tourism Co Ltd.
The joint venture, named Ping An UOB Fund Management Co Ltd, will have a paid up capital of 300 million yuan ($45 million), in which UOB Asset will hold a 25 percent stake.
Ping An Trust, a unit of Ping An Insurance (Group) , and Sanya Yingwan will hold 64 percent and 11 percent of the remaining shares respectively. (Reporting by Nopporn Wong-Anan; Editing by Lincoln Feast)
Don't know abt u guys, but my guess is BBs would chance upon this kind of news to rally. Doesn't matter if fundamentals are there or not... Hahaha... Ikan bilis like u or me got no say to move the market... |
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There is still another leg to run next week due to January effect. You won't want to miss that.
New123 ( Date: 30-Dec-2010 11:57) Posted:
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Ppl will be taking profit tdy or tmr. It has come up quite fast from $17.80 to $18.46..
goondoo ( Date: 30-Dec-2010 11:32) Posted:
It is just a technical rebound from 52 weeks low. Maybe if punters are lucky, it will hit $19 resistance.
But long term outlook not as rosy as the other 2 banks.
Actually I think the big funds are underweight (and will continue to underweight) on the SG banking sector, possibly favouring OCBC abit more than the other 2 banks due to the interest rate and property issues.
I think they are currently overweight (and will continue to be overweight) on energy, look at KepCorp, Sembcorp and Sembmarine running as well as some congleremates look at F&N and C&C outperforming. |
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Singapore's UOB unit forms fund JV in China
Dec 30 (Reuters) - Singapore's United Overseas Bank Limited (UOB) said on Thursday its UOB Asset Management unit had been approved to set up a joint venture fund management firm in China with China Ping An Trust Co Ltd and Sanya Yingwan Tourism Co Ltd.
The joint venture, named Ping An UOB Fund Management Co Ltd, will have a paid up capital of 300 million yuan ($45 million), in which UOB Asset will hold a 25 percent stake.
Ping An Trust, a unit of Ping An Insurance (Group) , and Sanya Yingwan will hold 64 percent and 11 percent of the remaining shares respectively. (Reporting by Nopporn Wong-Anan; Editing by Lincoln Feast)
Don't know abt u guys, but my guess is BBs would chance upon this kind of news to rally. Doesn't matter if fundamentals are there or not... Hahaha... Ikan bilis like u or me got no say to move the market...
Ppl will be taking profit tdy or tmr. It has come up quite fast from $17.80 to $18.46..
goondoo ( Date: 30-Dec-2010 11:32) Posted:
It is just a technical rebound from 52 weeks low. Maybe if punters are lucky, it will hit $19 resistance.
But long term outlook not as rosy as the other 2 banks.
Actually I think the big funds are underweight (and will continue to underweight) on the SG banking sector, possibly favouring OCBC abit more than the other 2 banks due to the interest rate and property issues.
I think they are currently overweight (and will continue to be overweight) on energy, look at KepCorp, Sembcorp and Sembmarine running as well as some congleremates look at F&N and C&C outperforming. |
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