United Overseas Bank *Official* (SGX: U11)

[uncle168]

deflation is the truth

 

[schoolex]

looks like in a range. not ideal for trading. almost 50-50 trade

 

[Shion]

a true swordman no need sword

the mind got sword

hand no sword

keekeekee

but your sword sharp or not

 

[kelvin_99]

For those did not knows who am I? Yes, I am fcs sexpert.

My previous predictions is correct, check my first post dates against the charts of previous date. As it is a live chart.

Just out of curiousity, with such probability and your level of confidence, would you really short this stock in the short term?

 

[wahkao3]

ta neutral
FA not so good

dont buy

 

[Perisher]

ta neutral
FA not so good

dont buy

What's the main issue with it's FA that you think is not good?

 

[wahkao3]

What's the main issue with it's FA that you think is not good?

valuation not attractive
its slightly over priced

 

[starfish.starfish]

For those did not knows who am I? Yes, I am fcs sexpert.

My previous predictions is correct, check my first post dates against the charts of previous date. As it is a live chart.

Pls short it down to at least $19 and below. Can buy cheap then. Tqvm

 

[SpinFire]

Can go long or short once break out of the rectangle and goes into a trend.

 

[peterchan75]

If the Eurozone issue subside and the Fed hike interest per plan this year, and MAS will hike interest rate in unison then bank has potential.

 

[Jupiter2017]

http://www.businesstimes.com.sg/com...as-net-interest-income-fees-commissions-climb
Fri, Nov 03, 2017 - 7:34 AM
UOB Q3 profit rises 12% to S$883m as net interest income, fees, commissions climb

UNITED Overseas Bank said on Friday net earnings for the third quarter rose 12 per cent over the same period a year ago to S$883 million, largely due to stronger net interest income and fee and commission income.
The increase was partly offset by lower trading income and higher operating expenses and allowances.
Net interest income increased 15 per cent to S$1.41 billion, driven by higher net interest margin and loan growth.
Net interest margin improved 10 basis points to 1.79 per cent, contributed by active balance sheet management and a rising interest rate environment.
Non-interest income increased 2 per cent to S$830 million.
Fee and commission income grew 12 per cent to S$551 million from wealth management, fund management and credit card businesses. This was partly offset by lower net trading income.
Total expenses rose 6 per cent from a year ago to S$973 million mainly due to higher staff and IT-related expenses.
Compared with a year ago, specific allowances on loans and other assets for the quarter decreased by S$51 million to S$247 million.
Total allowances increased by S$36 million to S$221 million as the bank continued to maintain total credit costs on loans at 32 basis points.
As at Sept 30, 2017, the amount of non-performing loans (NPL) grew 7 per cent year on year and 8 per cent from the previous quarter to S$3.75 billion.
This was mainly driven by a large account in the oil and gas sector, which remained under stress.
Deposits were 7 per cent higher year on year at S$268 billion while gross loans increased 8 per cent to S$234 billion.
The loan-to-deposit ratio stayed healthy at 85.8 per cent.
UOB chief executive Wee Ee Cheong said that this was the bank's "strongest quarter yet", driven by a pickup in the global economy and higher revenues from its diversified banking franchise.
"The asset quality of our overall portfolio was stable, apart from a couple of oil and gas-related issues, and our reserves buffer and capitalisation remained high.
"Our recent debut of perpetual capital securities in the US dollar market was well received by investors, reflecting their confidence in the Group's strong financial standing."
Despite ongoing uncertainties in the external environment, Mr Wee said UOB believes in Asia's long-term prospects, which are backed by its favourable growth drivers.
"We continue to invest in capabilities to support our customers' regionalisation ambitions and rising wealth needs."

 

[Opps-gal]

Will be interesting to know about the profit, when the new person takes over the boat...

http://www.businesstimes.com.sg/com...as-net-interest-income-fees-commissions-climb
Fri, Nov 03, 2017 - 7:34 AM
UOB Q3 profit rises 12% to S$883m as net interest income, fees, commissions climb

UNITED Overseas Bank said on Friday net earnings for the third quarter rose 12 per cent over the same period a year ago to S$883 million, largely due to stronger net interest income and fee and commission income.
The increase was partly offset by lower trading income and higher operating expenses and allowances.
Net interest income increased 15 per cent to S$1.41 billion, driven by higher net interest margin and loan growth.
Net interest margin improved 10 basis points to 1.79 per cent, contributed by active balance sheet management and a rising interest rate environment.
Non-interest income increased 2 per cent to S$830 million.
Fee and commission income grew 12 per cent to S$551 million from wealth management, fund management and credit card businesses. This was partly offset by lower net trading income.
Total expenses rose 6 per cent from a year ago to S$973 million mainly due to higher staff and IT-related expenses.
Compared with a year ago, specific allowances on loans and other assets for the quarter decreased by S$51 million to S$247 million.
Total allowances increased by S$36 million to S$221 million as the bank continued to maintain total credit costs on loans at 32 basis points.
As at Sept 30, 2017, the amount of non-performing loans (NPL) grew 7 per cent year on year and 8 per cent from the previous quarter to S$3.75 billion.
This was mainly driven by a large account in the oil and gas sector, which remained under stress.
Deposits were 7 per cent higher year on year at S$268 billion while gross loans increased 8 per cent to S$234 billion.
The loan-to-deposit ratio stayed healthy at 85.8 per cent.
UOB chief executive Wee Ee Cheong said that this was the bank's "strongest quarter yet", driven by a pickup in the global economy and higher revenues from its diversified banking franchise.
"The asset quality of our overall portfolio was stable, apart from a couple of oil and gas-related issues, and our reserves buffer and capitalisation remained high.
"Our recent debut of perpetual capital securities in the US dollar market was well received by investors, reflecting their confidence in the Group's strong financial standing."
Despite ongoing uncertainties in the external environment, Mr Wee said UOB believes in Asia's long-term prospects, which are backed by its favourable growth drivers.
"We continue to invest in capabilities to support our customers' regionalisation ambitions and rising wealth needs."

 

[Jupiter2017]

http://www.businesstimes.com.sg/com...after-60-years-wong-kan-seng-to-succeed-hsieh
Thu, Nov 02, 2017 - 7:24 PM
Wee Cho Yaw to retire from UOB board

WEE Cho Yaw will retire from United Overseas Bank after having steered the bank for six decades.
A familiar face at UOB's shareholders' meeting even after he stepped down as chairman of the board six years ago, Mr Wee is likely to be sorely missed.
He is expected to attend next April's shareholders meeting when he will retire from the board, said a UOB spokeswoman.
Mr Wee, who turns 89 next January, will relinquish all his board responsibilities next April. He will retain his chairman emeritus title and will also be appointed honorary adviser to the board in recognition of his many years of leadership and contribution to the group, UOB said.
Mr Wee - who was chairman and chief executive of UOB from 1974 to 2007 - owns over 18 per cent of the bank, according to UOB's 2016 annual report.
He joined the United Chinese Bank (UCB) board - the precursor to UOB - in 1958 at age 29; and became UCB managing director in 1960, succeeding his father Wee Kheng Chiang. UCB changed its name to UOB on Jan 23, 1965.
UOB also said that it has nominated former deputy prime minister Wong Kan Seng to succeed incumbent independent non-executive chairman Hsieh Fu Hua who will be retiring next year.
Mr Hsieh, 67, is the first chairman of the bank from outside the Wee family, and would have served six years on the board when he steps down on Feb 14, 2018. Until then, Mr Hsieh will continue to chair the board to oversee matters pertaining to the group's current financial year.
Mr Wong, 71 was first appointed as a UOB director in July this year.
Mr Wong served 26 years in the Singapore government where he held ministerial appointments in the Communications and Information, Community Development, Foreign Affairs and Home Affairs Ministries. He retired as deputy prime minister in 2011 but remained as a Member of Parliament. After leaving politics in 2015, Mr Wong joined the private sector, serving as chairman and director of companies in the real estate, township development/urbanisation, fund management and real estate investment trust (Reit)/trust sectors.
Paying tribute to Mr Wee, the UOB board described him as one of Singapore's legendary entrepreneurs who has made immense contributions to the development of the banking industry.
"Under his leadership, UOB expanded greatly, both in scale and scope. It grew from a single branch local bank to a major regional player with more than 500 offices in 19 countries and territories, offering a comprehensive suite of financial services to retail, wholesale and global markets."
He also "guided UOB through several international and regional financial and economic crises, all the while entrenching a culture based on values of thrift, prudence and vigilance".
The Monetary Authority of Singapore (MAS) said that it welcomed UOB's continued process of leadership renewal, and was looking forward to working with the new board.
UOB's leadership renewal process began in 2007 when Mr Wee passed the CEO role to Wee Ee Cheong and subsequently handed over the chairmanship to Mr Hsieh, said a MAS spokesman in a statement.
Mr Hsieh has played a key role in setting the bank's strategic direction, building up robust board processes and corporate governance while Mr Wee led UOB on a path "that made the bank a major player in the region, and among the safest banks in the world", said MAS.

 

[Minx99]

http://www.businesstimes.com.sg/com...as-net-interest-income-fees-commissions-climb
Fri, Nov 03, 2017 - 7:34 AM
UOB Q3 profit rises 12% to S$883m as net interest income, fees, commissions climb

UNITED Overseas Bank said on Friday net earnings for the third quarter rose 12 per cent over the same period a year ago to S$883 million, largely due to stronger net interest income and fee and commission income.
The increase was partly offset by lower trading income and higher operating expenses and allowances.
Net interest income increased 15 per cent to S$1.41 billion, driven by higher net interest margin and loan growth.
Net interest margin improved 10 basis points to 1.79 per cent, contributed by active balance sheet management and a rising interest rate environment.
Non-interest income increased 2 per cent to S$830 million.
Fee and commission income grew 12 per cent to S$551 million from wealth management, fund management and credit card businesses. This was partly offset by lower net trading income.
Total expenses rose 6 per cent from a year ago to S$973 million mainly due to higher staff and IT-related expenses.
Compared with a year ago, specific allowances on loans and other assets for the quarter decreased by S$51 million to S$247 million.
Total allowances increased by S$36 million to S$221 million as the bank continued to maintain total credit costs on loans at 32 basis points.
As at Sept 30, 2017, the amount of non-performing loans (NPL) grew 7 per cent year on year and 8 per cent from the previous quarter to S$3.75 billion.
This was mainly driven by a large account in the oil and gas sector, which remained under stress.
Deposits were 7 per cent higher year on year at S$268 billion while gross loans increased 8 per cent to S$234 billion.
The loan-to-deposit ratio stayed healthy at 85.8 per cent.
UOB chief executive Wee Ee Cheong said that this was the bank's "strongest quarter yet", driven by a pickup in the global economy and higher revenues from its diversified banking franchise.
"The asset quality of our overall portfolio was stable, apart from a couple of oil and gas-related issues, and our reserves buffer and capitalisation remained high.
"Our recent debut of perpetual capital securities in the US dollar market was well received by investors, reflecting their confidence in the Group's strong financial standing."
Despite ongoing uncertainties in the external environment, Mr Wee said UOB believes in Asia's long-term prospects, which are backed by its favourable growth drivers.
"We continue to invest in capabilities to support our customers' regionalisation ambitions and rising wealth needs."

UOB earning go up 12%, share price ke belakang pusing, where is the justice....

 

[Jupiter2017]

http://www.businesstimes.com.sg/com...ment-research-raises-uob-to-buy-targets-s3010
Broker's take: OCBC Investment Research raises UOB to 'buy', targets S$30.10
Fri, Jan 26, 2018 - 9:53 AM Jamie Lee leejamie@sph.com.sg

OCBC Investment Research has upped its rating on UOB to a "buy" from "hold", and boosted its fair value estimate to S$30.10 from S$25.36, saying that Asian banks are buoyed by a positive outlook.
"The recent re-rating of the banking sector has seen Asian banks enjoying higher valuations from the recent trough in 2016, especially Singapore banks which saw the main drag from the oil and gas sector in 2016," said OCBC analyst Carmen Lee in a report on Friday.
She said the brokerage is expecting broad-based growth in both net interest income and non-interest income for 2018. Fee income should see a boost from better wealth management earnings and credit card operations.
"Outlook for the region is still fairly optimistic and we expect Singapore banks to be in a good position to ride this trend."

price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=U11.SI

 

[Han Shot First]

What is the best or recommended action to take for UOB Scrip Dividend Scheme and why?
1. Receive CASH
2. Receive Full dividend value in NEW SHARES
3. Receive PARTIAL dividend value in CASH and NEW SHARES

 

[wutawa]

Adv on buying now vs scrip:
- Cheaper share price
- Not stuck with odd lot
- Not involved in round up/down fractional share

(not vested)

 

[wanker88]

What is the best or recommended action to take for UOB Scrip Dividend Scheme and why?
1. Receive CASH
2. Receive Full dividend value in NEW SHARES
3. Receive PARTIAL dividend value in CASH and NEW SHARES

Cash.

Vested.

 

[reddevil0728]

What is the best or recommended action to take for UOB Scrip Dividend Scheme and why?
1. Receive CASH
2. Receive Full dividend value in NEW SHARES
3. Receive PARTIAL dividend value in CASH and NEW SHARES

Best or recommended dependent on self DYODD.

1) you need cash and u want cash now. Not as much cash in future because you don’t get more shares.

2) u want more cash in future cash u get more shares now but may kena odd lot

3) u can use this to round off odd lot in future

 

[Shion]

UOB freezes wages, slows hiring amid continued fallout from Covid-19

UOB freezes wages, slows hiring amid continued fallout from Covid-19

https://www.straitstimes.com/busine...s-hiring-amid-continued-fallout-from-covid-19

SINGAPORE - United Overseas Bank is freezing the wages of its staff and limiting hiring amid the economic fallout from the coronavirus pandemic.

In response to media queries, UOB head of group human resources Dean Tong said: "As we focus on protecting the livelihoods of our people, we are keeping salaries at their current levels for now and will revise our stance as the external environment improves."

On hiring, he told The Straits Times that the bank will take a "disciplined and selective approach to any new headcount increases", with new appointments to be "approved at the most senior levels".

He stressed that UOB will continue investing in and hiring for roles essential to its strategic priorities.

Mr Tong told ST that these strategic roles include positions in areas such as technology and data analytics, as well as commercial and corporate banking.

Other banks indicated that they may similarly take further action to keep a lid on costs.

A DBS Bank spokesman said the bank is facing significant income and credit cost headwinds as the external environment continues to be challenging.

“We have been prudent on expenses, (and this) has involved prioritising investments as well as cutting back on variable staff compensation. These measures may not be sufficient. We will calibrate any further responses in the next few months,” he told ST.

OCBC Bank’s head of HR planning Jacinta Low said: “As the financial year has not come to an end, we will review the compensation and rewards at a later date.”

UOB has a workforce of more than 26,000 employees across the group. It operates in 19 markets, including China, Hong Kong, Thailand, and Malaysia.

Said Mr Tong: "Given the transformational times we are in, we remain committed to seeing our people through to better times and will continue to invest in their reskilling and upskilling. This will ensure that our people, and the bank, will emerge stronger when these difficult days are over."

In an internal memo, the bank told senior staff that it expects the situation to worsen before improving when the Government cuts some of its support, reported Bloomberg on Tuesday (Sept 15).

Salary increases and promotions will be put on hold until further notice, Bloomberg quoted the memo as saying. It reported that the hiring restrictions will last until December 2021.

"We will review these dynamically as and when the situation improves," the memo added. It was sent on behalf of Mr Tong, head of group strategy and transformation Federico Burgoni and group chief financial officer Lee Wai Fai, said Bloomberg.

Singapore's third-largest bank posted a 40 per cent fall in second-quarter net profit to $703 million due to weaker income and a surge in provisions set aside to brace for the easing of loan moratoria, UOB chief Wee Ee Cheong told analysts and media at a briefing in August.

This was weaker than the consensus forecast of $815 million in net income estimated by four analysts in a Bloomberg poll.

Bloomberg Intelligence banking analyst Diksha Gera said in a report on Tuesday that UOB's "hiring, pay and promotion freeze" poses risks to dividend payout this year, as the lender could see more than a 30 per cent fall in profit because of continued economic headwinds in key markets.

"UOB's higher exposure to small businesses in Singapore raises its vulnerability versus peers DBS and OCBC," she wrote.

Earlier this year, local banks DBS, OCBC and UOB pledged not to cut jobs. Some of them said they would also employ more staff.

DBS committed to hiring around 2,000 people here this year in existing and new roles, while OCBC said it would recruit 3,000 people in full-time positions, traineeships and internships.

Although it is slowing hiring, UOB told ST on Tuesday it is offering 320 traineeships in more than 10 business and support units across the bank for its operational needs and digitalisation and innovation efforts.