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Time's up?? Or is it the beginning of mini run ...
It will crash tomolo.
Still going strong....
Will it continues its movement upwards today?
UOB is a market laggard. Last STI stock to rise, so prob means this rebound is at the end.
Up 88cts. Anyone want to short? 888
Wow! up 72 cents so far.... how much more will it goes up? 
Anyone know what's the record of movement up by UOB in 1 day?
UOB moving up pretty fast, any reasons?
UOB the biggest bank by mkt cap in 2008, smallest bank by mkt cap in 2009.
When will the other 2 bigger banks launch a takeover of UOB, now trading at 20% discount in terms of P/E compared to DBS and OCBC.
RESOLUTIONS PASSED AT THE AGM AND EGM
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_645DB9BF3D249B7D482575A7003643A2/$file/UOB-A0908.pdf?openelement
today the bulls n bears are even steven..despite the run up in the STI..
will look for any sign of weakness in the coming days to short if required..
SINGAPORE, April 29 (Reuters) - United Overseas Bank
, Singapore’s second-biggest lender, is comfortable
with its capital level and has no plans for a rights issue, its
chairman said on Wednesday.
The comments are likely to put to rest market speculation
that UOB, which has the lowest Tier-1 capital adequacy ratio of
the city-state’s three local banks, may have to raise more
capital.
“We are comfortable,” Chairman Wee Cho Yaw told a
shareholders meeting. “I don’t think we need any rights issue
for the time being.”
UOB had a Tier-1 ratio of 10.9 percent at end-2008 compared
to DBS Group’s 12.2 percent and Oversea-Chinese
Banking Corp’s 14.9 percent.
Wee, whose family controls Southeast Asia’s second-biggest
bank, said he was still concerned about the outlook for the
global economy, especially the United States.
“I am still pessimistic,” he said, adding the financial
crisis may last another 1-2 years.
He said UOB was careful and selective on lending and
recently cut its dividend to preserve capital.
UOB’s loans grew at 7.7 percent in the fourth quarter,
slowing from 18 percent growth in the third quarter. The bank
reports first-quarter results on May 6.
Wee said UOB does not have toxic assets on its books, but
could see a rise in bad loans because of weak economies, with
Singapore facing its worst recession. He said the level of
non-performing loans would, however, remain manageable. UOB had
an NPL ratio of 2 percent.
Wee, 79, whose father founded the bank, said he has no
plans to retire. His son Wee Ee Cheong is chief executive,
“In my lifetime, I don’t want to see this bank in trouble,”
Wee said. “I can’t retire. Once I retire, I’ll die.”
, Singapore’s second-biggest lender, is comfortable
with its capital level and has no plans for a rights issue, its
chairman said on Wednesday.
The comments are likely to put to rest market speculation
that UOB, which has the lowest Tier-1 capital adequacy ratio of
the city-state’s three local banks, may have to raise more
capital.
“We are comfortable,” Chairman Wee Cho Yaw told a
shareholders meeting. “I don’t think we need any rights issue
for the time being.”
UOB had a Tier-1 ratio of 10.9 percent at end-2008 compared
to DBS Group’s 12.2 percent and Oversea-Chinese
Banking Corp’s 14.9 percent.
Wee, whose family controls Southeast Asia’s second-biggest
bank, said he was still concerned about the outlook for the
global economy, especially the United States.
“I am still pessimistic,” he said, adding the financial
crisis may last another 1-2 years.
He said UOB was careful and selective on lending and
recently cut its dividend to preserve capital.
UOB’s loans grew at 7.7 percent in the fourth quarter,
slowing from 18 percent growth in the third quarter. The bank
reports first-quarter results on May 6.
Wee said UOB does not have toxic assets on its books, but
could see a rise in bad loans because of weak economies, with
Singapore facing its worst recession. He said the level of
non-performing loans would, however, remain manageable. UOB had
an NPL ratio of 2 percent.
Wee, 79, whose father founded the bank, said he has no
plans to retire. His son Wee Ee Cheong is chief executive,
“In my lifetime, I don’t want to see this bank in trouble,”
Wee said. “I can’t retire. Once I retire, I’ll die.”
banks look unscathe by the "depressed" market..
will get ready the ammo to short if it falls tomorrow..
UOB & DBS
wah low $8..
40c divy is 5%..shiok siah..
Lelong ..... lelong ..... lelong sell, first come first serve, grap it if you think it is the time ..... ever happen before ..... big sales for financial stocks ....
8.21!!! still have 40c dividend
lowest 8.41....
UOB is free fall now, drop like no ending ....... people shorting it or big house is dumping ..... ? will DJ rebound tonite ????
The market (chart) itself tells...
no uptrend yet...
