OCBC

OCBC’s FY profit flat at S$2.07b, but core net profit up 30%

Singapore's third largest lender OCBC Bank has reported flat profits for the full year at S$2.07 billion, marginally higher than S$2 billion profit in 2006. Excluding divestment gains from non-core assets and tax refunds, OCBC's core net profit beat expectations by growing 30% to S$1.88 billion on the back of strong loans growth. OCBC is seeing broad-based revenue growth across its key markets and...

OCBC’s Q4 net profit down 16% to $428m

Singapore's Oversea-Chinese Banking Corp (OCBC) said Thursday its fourth quarter net profit fell 16 percent from a year ago in the absence of one-time gains and higher expenses offsetting strong revenues. Net profit was S$428 million compared with S$510 million a year ago when it was bloated by divestment gains. Revenue totalled S$1.08 billion, up 19 percent from the same period last year, the bank said...

Tecity raises offer for Straits Trading to S$6.70 a share

The bidding war for the tin-smelting and property firm, Straits Trading Company, continues to escalate. Tecity Group, controlled by the family of the late Tan Chin Tuan, has again raised its offer for Straits Trading. It is now offering to pay S$6.70 a share to take over the company. This is S$0.20 higher than its last revised offer. The latest bid values Straits Trading at S$2.18 billion. Tecity's...

OCBC rejects improved takeover offer for Straits Trading

OCBC says it intends to reject an improved takeover offer for one of its listed subsidiaries, Straits Trading. This could effectively end a tussle for the listed commodities and property company between two of the Singapore's prominent banking families. On one side is the Lee family, who are OCBC's main shareholders. They have offered to pay S$6.55 a share for Straits Trading, valuing it at S$2.1...

Tecity raises offer for Straits Trading to S$6.50 a share

Tecity has raised its general offer for Straits Trading to S$6.50 a share following a counter bid from the Lee family. The revised offer values the company at S$2.1 billion. It is 14 per cent higher than Tecity's original offer price of S$5.70 and 31 per cent above the last traded price of Straits Trading before the general offer. The latest offer by Tecity, controlled by the family of the late Tan Chin...

OCBC’s Lee family makes counterbid for Straits Trading

A bidding war appears to be looming for diversified Straits Trading Company. The Lee family that controls OCBC Bank is making a counter-offer for shares in Straits Trading Company that it does not already own. The Lees, who already own 34 percent of Straits Trading, are offering to pay S$5.76 cash a share. This values Straits Trading at S$1.88 billion. The latest offer is higher than the one by rival,...

Compare listings

Compare