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OCBC
Jan 9, 2014 12:25:38 GMT 7
Post by zuolun on Jan 9, 2014 12:25:38 GMT 7
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Post by zuolun on Jan 13, 2014 17:09:18 GMT 7
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Post by zuolun on Jan 19, 2014 13:11:56 GMT 7
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OCBC
Jan 26, 2014 13:37:25 GMT 7
oldman likes this
Post by zuolun on Jan 26, 2014 13:37:25 GMT 7
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Post by zuolun on Jan 30, 2014 8:45:05 GMT 7
OCBC — Bearish diamond top breakout; TP S$8.96
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Post by zuolun on Feb 7, 2014 9:48:47 GMT 7
OCBC — Bearish diamond top breakout; TP S$8.96
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OCBC
Aug 20, 2014 5:33:24 GMT 7
Post by odie on Aug 20, 2014 5:33:24 GMT 7
OCBC now trading cum rights
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Post by zuolun on Sept 3, 2014 10:33:48 GMT 7
OCBC now trading cum rights An arbitrage opportunity in OCBC's Rights shares: Trading period 1st to 9th Sep 2014Set for Greater China expansion — 18 Aug 2018 CIMB's review on OCBC: NEUTRAL TP S$10.55 — 3 Sep 2014 Earnings Model Update For Inclusion Of WHBWe have updated our earnings model to incorporate newly-acquired WHB and OCBC’s 1-for-8 rights issue. A full 12-month impact in FY15 would dilute EPS by 5%, lower ROE to 11.6% from an earlier forecast of 12.3% and fully-loaded CET-1 ratio cut to 10.1% vs 12-12.5% of peers. We adjust GGM-based TP to SGD10.55. We maintain a NEUTRAL rating as concerns over OCBC’s weaker capital position vs peers would weigh on share price performance. Earnings model update. With the voluntary general offer (VGO) for Wing Hang Bank (WHB) completed in late July and the 440 million new OCBC shares from the 1-for-8 rights issue (RI) targeted for issuance on 26 Sept, we have adjusted our earnings model for inclusion of the Hong Kong lender and the capital raising exercise. The company expects the compulsory acquisition and delisting process for WHB (to be renamed OCBC Wing Hang from 1 October) to take 2-3 months. A 5% dilution in FY15F EPS. Based on our projections, a 5-month contribution from 97.5%-owned WHB in FY14F would lift OCBC’s net profit by 4% to SGD3,357m, while a full 12-month impact would boost FY15F earnings by 8% to SGD3,712m. However, the 11% increase in issued capital following the rights issue would dilute EPS by 5% to SGD0.94 in FY15F with a 3% cut to SGD0.90 for FY14F. ROE trimmed by 70bps and CET-1 by 190bps. The rights issue would also lower ROE to 11.6% from 12.3% for FY15F with a modest 20bps cut to 12.2% for FY14F. Goodwill arising from the acquisition of circa SGD2.85bn, would trim common equity tier-1 (CET-1) ratio by 190bps to12.8% (transitional) from 14.7% (June). We estimate fully loaded CET-1 at 10.1% vs 12-12.5% of peers. Recall that management does not expect the acquisition to be EPS and ROE accretive until FY17. TP adjusted to SGD10.55, NEUTRAL. Our Gordon Growth Model(GGM)-derived TP is adjusted to SGD10.55 (from SGD10.75) after factoring in lower ROE and higher weighted average cost of capital of 9.7% (from 9.3%). NEUTRAL rating maintained. While we view the EPS dilution as manageable and ROE is within management’s target of 11-12%, we believe concerns over its weakened capital position would weigh on share price performance.
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OCBC
Sept 10, 2014 18:59:14 GMT 7
Post by odie on Sept 10, 2014 18:59:14 GMT 7
bro zuolun,
any updates in your crystal ball on OCBC? many thanks
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Post by zuolun on Sept 11, 2014 8:09:00 GMT 7
bro zuolun, any updates in your crystal ball on OCBC? many thanks OCBC — Bear Flag Formation, biased to the downside @ TP S$9.23OCBC closed unchanged with a hammer @ S$9.76 with 2.98m shares done on 10 Sep 2014. Immediate support @ S$9.68, next support @ S$9.61, immediate resistance @ S$9.78, next resistance @ $9.88.
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OCBC
Sept 11, 2014 10:02:04 GMT 7
Post by odie on Sept 11, 2014 10:02:04 GMT 7
bro zuolun, thanks for update and unbiased view i found it strange that others are so bullish on OCBC
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Post by zuolun on Sept 11, 2014 11:56:42 GMT 7
bro zuolun, thanks for update and unbiased view i found it strange that others are so bullish on OCBC Alternatively, if OCBC is able to hit the next resistance @ S$9.88 and above, the bear flag will be negated. OCBC — Bear Flag Formation, biased to the downside @ TP S$9.23OCBC closed unchanged with a hammer @ S$9.76 with 2.98m shares done on 10 Sep 2014. Immediate support @ S$9.68, next support @ S$9.61, immediate resistance @ S$9.78, next resistance @ $9.88.
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OCBC
Sept 11, 2014 19:12:09 GMT 7
Post by odie on Sept 11, 2014 19:12:09 GMT 7
zuolun bro,
the bullish guru sold for peanuts using a strange indicator LOL
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OCBC
Sept 19, 2014 16:29:41 GMT 7
Post by odie on Sept 19, 2014 16:29:41 GMT 7
zuolun bro, this share held by Lee Brothers is super strong closed up 8cts to 9.87 any charts updates for this sti index constituent stock? Many thanks and have a good day
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Post by kenjifm on Oct 2, 2014 13:56:47 GMT 7
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