DBS vs OCBC and UOB

[OngHuatHuat]

https://sg.finance.yahoo.com/q/hp?s=D05.SI&a=00&b=3&c=1997&d=02&e=25&f=2016&g=w&z=66&y=528

Look at the column adjusted close

Is there any way to check what was the p/b of DBS in 1999?

 

[OngHuatHuat]

I think it recovered bZck to 20 plus in March 2015 but after that, plunge all the way down to 13 dollars plus.

Net tangible asset backing per ordinary share (S$) 8.42

so around 3 times book value


today DBS is only trading at 1 times book value, so its not a super bull market for sure LOL

 

[xersion]

Anyone can remember the rights by dbs in 2008 is for what purpose?

Sent from Xiaomi MI 4I using GAGT

 

[OngHuatHuat]

dbs was around 12 dollars range in year 2012, due to PIGS debt crisis.

Current crisis seems milder compared to year 2012

 

[henrylbh]

Is there any way to check what was the p/b of DBS in 1999?

According to annual report, that time net tangible asset per share was 8.16. NAV may be about 8.63.

 

[NewInvestor]

1999 is 1.8
2000 is 2.6

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OMG. This is crazy expensive. Hopefully one day it will be like these p/b again. Has to be a bull run to achieve this.

 

[NewInvestor]

According to annual report, that time net tangible asset per share was 8.16. NAV may be about 8.63.

This is the 1999 Annual Report?

 

[xersion]

OMG. This is crazy expensive. Hopefully one day it will be like these p/b again. Has to be a bull run to achieve this.

Need a Lamborghini to chiong it to $2x

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[henrylbh]

This is the 1999 Annual Report?

I referred 2004 AR with historical numbers going back to 1995.

If I remember correctly, DBS went near $30 in 1999.

 

[OngHuatHuat]

I referred 2004 AR with historical numbers going back to 1995.

If I remember correctly, DBS went near $30 in 1999.

http://finance.yahoo.com/q/hp?s=D05.SI&a=00&b=3&c=1990&d=02&e=25&f=2016&g=w&z=66&y=0

need to adjust for rights and dividends, I think those people still earning but much lesser than people buying at lows.

 

[henrylbh]

http://finance.yahoo.com/q/hp?s=D05.SI&a=00&b=3&c=1990&d=02&e=25&f=2016&g=w&z=66&y=0

need to adjust for rights and dividends, I think those people still earning but much lesser than people buying at lows.

I think after adjustment for rights, it still well above $20. Dividend should not be counted in calculating capital gain. Anyway dividend yield is low if one had paid a high price.

 

[OngHuatHuat]

I think after adjustment for rights, it still well above $20. Dividend should not be counted in calculating capital gain. Anyway dividend yield is low if one had paid a high price.

Dividend means they give out capital gain o.

So cannot say like that also.

 

[henrylbh]

Dividend means they give out capital gain o.

So cannot say like that also.

Only in unusual case would one considers the first dividend as a reduction against initial cost, but certainly no one cost dividends over the years as a reduction of the initial cost.

 

[OngHuatHuat]

Only in unusual case would one considers the first dividend as a reduction against initial cost, but certainly no one cost dividends over the years as a reduction of the initial cost.

I always think dividend is a form of retained earnings. Dividend needs to be paid out from company cash pile.

 

[henrylbh]

I always think dividend is a form of retained earnings. Dividend needs to be paid out from company cash pile.

Dividend is distribution of company's retained earnings/profit. But you as buyer of the share should not treat dividend as a reduction of your cost of investment. Hence had you bought dbs at the high in 1999, you original cost will remain except for effect of rights issue and bonus.

need to adjust for rights and dividends, I think those people still earning but much lesser than people buying at lows.

 

[Socrates469bc]

Anyone can remember the rights by dbs in 2008 is for what purpose?

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if memory correct, is to buy daohang bank from hong leong group.

 

[henrylbh]

if memory correct, is to buy daohang bank from hong leong group.

That acquisition is laughable if not silliest they did at that time. Down the road they record a huge impairment loss which in a way showed that the premium paid was high.

 

[Socrates469bc]

That acquisition is laughable if not silliest they did at that time. Down the road they record a huge impairment loss which in a way showed that the premium paid was high.

if acquisition executed correctly with better pricing, ops integration carried out in more detailed and most importantly, strategy planning for expanding into china mkt being thot thru properly, the acquisition will have been a success in expanding into china mkt. end of the line, i think the issue comes to the execution and future direction. I understand hl regret selling out the daohang afterwards becos they lost foothold in china. in the end has to buy a 19.9% stake in some city bank, bank of chengdu.

 

[homedriver]

I only know during bear market banks trade below 1.2 times book value
To as low as 0.8 book value

Now at 1 times book value is still bear price


During bull market banks are easily 1.5 times book or higher

Any site or apps show the book values?

 

[OngHuatHuat]

For me, capital gain and dividend gain not much difference.
No matter what, dividend needs to come out from company cash pile.

Dividend is distribution of company's retained earnings/profit. But you as buyer of the share should not treat dividend as a reduction of your cost of investment. Hence had you bought dbs at the high in 1999, you original cost will remain except for effect of rights issue and bonus.