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Ok! Will wait at 6.80 to collect then.....almost its NAV.
Goldman sach target - $6.80
This one will be first bank to hit target price by Goldman
Dow is down by 2.9% or 370 points and the biggest losers were "banks, which have already suffered huge losses in their investment portfolios last year and are now socking billions of dollars away to prepare for debt-burdened consumers to stop making payments"....what's the impact over in Asia, over in S'pore.........not a rosy outlook for sure.
What a way to end the "Pig" year .....sigh....
What a way to end the "Pig" year .....sigh....
That's for sure.....up or down, your guess...50-50 chance???
market will be volatile
Seems going opposite direction from the downgrade....buay zhun leh....
So, some more downside...
This one will go to - $6.80
- FROM GOLDMAN - THE ONE WHO BEAT THE SUB PRIME
- FROM GOLDMAN - THE ONE WHO BEAT THE SUB PRIME
No change in TA signals since the last posting. Still bearish in outlook.
TA signals for OCBC look as bearish as DBS. Almost exactly the same.
Price cuts below lower Bollinger band with Acc/Dist and Chaikin downtrending.
Can anyone throw so lights on the deal with Straits Trading, and Tecity. OCBC owns 26% of Straits Trading. Tecity buying Straits Trading for 1.86b, I think. Tecity re-building Phoenix site hotel, sells it back to OCBC, OCBC owns the land. OCBC lease property back to Tecity for 3 yrs. OCBC should benefit?????
http://www.businesstimes.com.sg/sub/news/story/0,4574,263365,00.html
Bank's counter are no more attractive in the coming months owing to subprime issues. Go for oil related counters could be much viable. Gold is another good choice for investment, if cash is not a problem.
OCBC Bank will be announcing its results for the financial year ended 31 December 2007 on Thursday, 21 February 2008, during the lunchtime suspension of trading on the Singapore Exchange.
The 3-mth SIBOR recently slide further to 1.8%, and is now 160 bps lower than the 3.4% level at end-2006. This corresponds with expectations of further cuts in the US Fed Fund rate from the current 4.25%.
A falling SIBOR will lead to lower time deposit rates. Banks and finance companies with greater percentage dependence on time deposits for funding will enjoy greater savings in cost of funds. In this respect, OCBC, with 67% of its funds coming from time deposits, will benefit.
OCBC had stomped back up above water because of positive sentiment in construction sector.
OCBC have the largest lending % of the 3 local banks to construction sector.
Although property loan reaches $105.7 billion, up 18% hitting 8 years high, but Q4 property sales is expected a big drop as early numbers shown deals at only $2.9 billion.
So Q4 loan figures may not be as brilliant as Q3. So stay sideline for the time being.
OCBC share price movement is still under-perform as compared to DBS and UOB.
OCBC only gained 1.8% whereas DBS and UOB gained 4.8% and 4.3% respectively today.
RSI is still in oversold region, but start to hook up. MCAD is also about to give a buy signal. Bollinger start to converge, which a break out may happen soon.
OCBC suprises me today!
Very seldom do we see that OCBC go against the trend of the market.
RSI had hooked up, but still in over-sold region.
SMA and MCAD has not give nany buy signals yet though.
| Time | Last | Volume | Buy/Sell |
| 11:45:51 | 8.400 | 1,000 | Sell Down |
| 11:45:36 | 8.400 | 48,000 | Sell Down |
| 11:44:30 | 8.400 | 100,000 | Sell Down |
| 11:44:00 | 8.400 | 1,000 | Sell Down |
| 11:43:10 | 8.450 | 25,000 | Sell Down |
| 11:43:08 | 8.450 | 1,000 | Sell Down |
| 11:43:08 | 8.450 | 1,000 | Sell Down |
| 11:42:23 | 8.450 | 5,000 | Sell Down |
| 11:42:02 | 8.450 | 10,000 | Buy Up |
| 11:41:25 | 8.450 | 100,000 | Buy Up |
| 11:40:43 | 8.450 | 40,000 | Buy Up |
| 11:40:12 | 8.450 | 7,000 | Buy Up |
| 11:39:38 | 8.400 | 2,000 | Sell Down |
| 11:38:56 | 8.400 | 4,000 | Sell Down |
| 11:38:53 | 8.450 | 38,000 | Buy Up |
| 11:38:38 | 8.400 | 15,000 | Buy Up |
| 11:38:14 | 8.400 | 29,000 | Buy Up |
| 11:37:29 | 8.400 | 50,000 | Sell Down |
| 11:37:19 | 8.400 | 22,000 | Sell Down |
| 11:37:06 | 8.400 | 47,000 | Buy Up |
Fitch Assigns 'A+' Rating to OCBC's Lower Tier-2 Subordinated Notes
SINGAPORE, November 16 (Fitch) Fitch Ratings today assigned a Long-term rating of 'A+' to Singapore-based Oversea-Chinese Banking Corp's (OCBC) proposed issue of Singapore dollar denominated subordinated notes due 2017 ("the Notes"), callable with step-up in 2012.
The rating on the issue - which is intended to qualify for Lower Tier-2 Capital as per the Monetary Authority of Singapore guidelines - is one notch lower than OCBC's Long-term foreign currency Issuer Default Rating (IDR) rating of 'AA-' (AA minus), and is in accordance with Fitch's criteria of rating subordinated debt instruments of financial institutions. The Notes under the proposed issue will be direct, unsecured and subordinated obligations of OCBC, and will rank pari passu with all subordinated debt issued by the bank that qualifies as Lower Tier-2 Capital securities. Although the rights of the Noteholders of the proposed issue will be subordinated to the claims of Senior Creditors including depositors, they will rank senior to all share capital of OCBC Bank, and Tier-1 and Upper Tier-2 Capital Securities. The net proceeds would be used for general corporate purposes.
Fitch notes that the rating Outlook on OCBC's IDR is Stable and is supported by its improving asset quality and strong capitalisation. Although the operating environment in OCBC's main markets may be less benign in future as a result of the expected slowdown in the US, the bank's credit profile should stay sufficiently strong to maintain its ratings at their current level. The bank's NPL ratio has been progressively declining over the past four to five years and was 2.1% at end-September 2007; NPL coverage has also further improved and loan loss reserves (specific and general allowances) covered over 100% of the bank's NPLs at Q307. Importantly, OCBC has historically been very well capitalised - total capital adequacy ratio (CAR) and Tier-1 ratio were 12.8% and 11.9%, respectively, as at September 2007. However, these ratios may decline slightly in the future as the bank pursues its regional expansion strategy (both acquisitive and organic growth) together with its ongoing efforts at managing its capital more efficiently. Nevertheless, Fitch believes that OCBC will likely maintain a sufficient buffer over minimum regulatory requirements, and its ability to absorb reasonable amounts of unexpected losses should remain strong.
Fitch also points out that credit ratings do not directly address any risk other than credit risk and that the price of securities such as the ones that are proposed to be issued may fluctuate as they are to be listed. In particular, these ratings do not deal with the risk of loss due to changes in market price or other market conditions.
Established in 1932, OCBC is a Singapore-based banking group offering corporate, commercial and consumer banking services to its customers in several ASEAN countries.
SINGAPORE, November 16 (Fitch) Fitch Ratings today assigned a Long-term rating of 'A+' to Singapore-based Oversea-Chinese Banking Corp's (OCBC) proposed issue of Singapore dollar denominated subordinated notes due 2017 ("the Notes"), callable with step-up in 2012.
The rating on the issue - which is intended to qualify for Lower Tier-2 Capital as per the Monetary Authority of Singapore guidelines - is one notch lower than OCBC's Long-term foreign currency Issuer Default Rating (IDR) rating of 'AA-' (AA minus), and is in accordance with Fitch's criteria of rating subordinated debt instruments of financial institutions. The Notes under the proposed issue will be direct, unsecured and subordinated obligations of OCBC, and will rank pari passu with all subordinated debt issued by the bank that qualifies as Lower Tier-2 Capital securities. Although the rights of the Noteholders of the proposed issue will be subordinated to the claims of Senior Creditors including depositors, they will rank senior to all share capital of OCBC Bank, and Tier-1 and Upper Tier-2 Capital Securities. The net proceeds would be used for general corporate purposes.
Fitch notes that the rating Outlook on OCBC's IDR is Stable and is supported by its improving asset quality and strong capitalisation. Although the operating environment in OCBC's main markets may be less benign in future as a result of the expected slowdown in the US, the bank's credit profile should stay sufficiently strong to maintain its ratings at their current level. The bank's NPL ratio has been progressively declining over the past four to five years and was 2.1% at end-September 2007; NPL coverage has also further improved and loan loss reserves (specific and general allowances) covered over 100% of the bank's NPLs at Q307. Importantly, OCBC has historically been very well capitalised - total capital adequacy ratio (CAR) and Tier-1 ratio were 12.8% and 11.9%, respectively, as at September 2007. However, these ratios may decline slightly in the future as the bank pursues its regional expansion strategy (both acquisitive and organic growth) together with its ongoing efforts at managing its capital more efficiently. Nevertheless, Fitch believes that OCBC will likely maintain a sufficient buffer over minimum regulatory requirements, and its ability to absorb reasonable amounts of unexpected losses should remain strong.
Fitch also points out that credit ratings do not directly address any risk other than credit risk and that the price of securities such as the ones that are proposed to be issued may fluctuate as they are to be listed. In particular, these ratings do not deal with the risk of loss due to changes in market price or other market conditions.
Established in 1932, OCBC is a Singapore-based banking group offering corporate, commercial and consumer banking services to its customers in several ASEAN countries.
Sudden interest from BBs?
| Time | Last | Volume | Buy/Sell |
| 14:25:24 | 8.500 | 50,000 | Buy Up |
| 14:25:19 | 8.500 | 50,000 | Buy Up |
| 14:25:12 | 8.500 | 50,000 | Buy Up |
| 14:21:21 | 8.500 | 11,000 | Sell Down |
| 14:21:11 | 8.500 | 10,000 | Sell Down |
| 14:21:05 | 8.500 | 5,000 | Sell Down |
| 14:21:02 | 8.500 | 10,000 | Sell Down |
| 14:20:21 | 8.500 | 10,000 | Sell Down |
| 14:19:15 | 8.500 | 1,000 | Sell Down |
| 14:18:37 | 8.500 | 1,000 | Sell Down |
| 14:18:34 | 8.500 | 40,000 | Sell Down |
| 14:18:19 | 8.500 | 2,000 | Sell Down |
| 14:18:09 | 8.500 | 1,000 | Sell Down |
| 14:17:03 | 8.500 | 2,000 | Sell Down |
| 14:16:53 | 8.500 | 19,000 | Buy Up |
| 14:16:49 | 8.500 | 5,000 | Buy Up |
| 14:16:48 | 8.500 | 4,000 | Buy Up |
| 14:16:48 | 8.500 | 2,000 | Buy Up |
| 14:16:44 | 8.500 | 20,000 | Buy Up |
| 14:16:38 | 8.500 | 2,000 | Buy Up |