OCBC Bank    Last:16.16   -

OCBC

Why OCBC? See potential for $15...hehehe! Just kidding just now to invest short term. Intend to collect OCBC for long term. Can't stay with SPC for too long as oil is always volatile, not only now, always in the future. Conserve capital, OCBC can do the job. The other 2 banks have higher PE than OCBC which is 11 I think (rolling). Went to the cash flow statement and looks very very healthy. I am sure above $10 in near future is possible. Plus got M&A story, makes it even more exciting in OCBC. Can lah, JUST DO IT!

 

Whats the rush? Why guess? Why not confirm that IT IS 8.40 - 8.6 first. So what if we go in slightly late - 10cts late. Our probability of winning is greater because we witnessed a confirmation.  Its no point if it bounced one day up and the next three days it goes down.  If you are playing intra day then its a different story.

 

I guess the support should be between 8.4 ~ 8.6....

Well if OCBC decide to start a buy back, we can roughly guess what is the holdin point.

Just like SGX and UOB did yesterday.

 

come to think of it, if you only have SPC, what makes you choose OCBC?

 

Oh pls!  Don't sifu me. Take care then and i hope I am wrong ... for you.

 

Yalor, my shifu, how now...hehehe! Can one lah, I am very positive one lah. You win some you lose some. Overall MUST make lah...hehehe!

 

idesa168, aiyoh you bought OCBC just?

The ADX is showing an increase in downward trend strength wor. 8.60SGD MAY be the interim support but its too early to tell.

 

I took Kilroy's advise, diversify. Bought OCBC for short term at $9.00. Now must be long term investor of OCBC liao...hehehe! But no worries lah, local banks. Shall wait for superb result announce and maybe gd divvy, can see lesser pain...hehehe! Cheers! Stock goes up cheers, stock go down, also must cheer lah!

 

8.40 - 8.50 maybe wink wink

 

Did anybody get the 8.70 lot?  If you didnt its fine coz if today's closing is not higher then 9.00SGD, you MAY get your chance again.  *wink*

 

Singapore's Oversea-Chinese Banking Corp plans to raise its headcount in China to more than 1,000 by 2010 from 200 at present. The bank intends to open two new branches in the country every year before 2010, and aims to establish branches in Guangzhou and Chengdu this year, seeking business from wealthy Chinese clients.

 

Oversea-Chinese Banking Corp's stake in Bank of Ningbo, now a shade above 10 per cent, remains an 'integral part of its strategy in China', with no hints of being pushed down the priority list even with the launch of OCBC's own subsidiary there. Since OCBC bought into the Chinese city commercial bank in May last year, it has launched several joint initiatives including trade financing, investment banking, wealth management, cross-border financing and treasury, which OCBC said 'have begun to show encouraging results'. OCBC calls this strategic partnership with Bank of Ningbo one that is 'beneficial for both parties'. It has been supporting the Chinese bank in growing its SME (small-and-medium-sized enterprises) and consumer banking businesses through a comprehensive training and technical assistance programme. At the other end, Bank of Ningbo has been sharing with OCBC its knowledge and experience in the Chinese market, particularly in yuan products. "While most foreign banks have taken the route of expanding in China mainly through organic growth, we place equal emphasis on organic growth and our local strategic alliance," said Soon Tit Koon, chief financial officer of OCBC Bank and chairman of OCBC China, the newly incorporated entity in China. "We believe our partnership with Bank of Ningbo will boost our efforts to grow in this country." OCBC is keen to stay invested in Bank of Ningbo for the long haul, saying it does not rule out the possibility of raising its stake in the Chinese bank as there's still some way to go before hitting the minimum quota of 20 per cent.

 

8.70SGD a possible buy price if anyone is interested for a short term move.

 

DBS Vickers - Overweight.

We believe there?s potential for Singapore banks to outperform the market, with stronger-than-expected loan growth in 2H07. While ROEs may remain flat, we expect overall earnings growth of 18% y-o-y. Our top sector pick is UOB (Buy, TP $27.50) for better growth and ROE prospects. We also have a Buy rating for OCBC with target price of $10.20. The sector has been a laggard and we would recommend it as a late cycle proxy and alternative exposure to the property boom. Maintain Overweight.

 

Vested at $9.15 too. Don't worry, pretty sure it will go up by next week. Should have a solid good report next week. Will buy more tomorrow if price is right.

 

OCBC - Ho Si Bei Si   :)

Better than HSBC - The Worlds (pronouced as Worst) Local Bank.

 

Let hope the coming release would give this stock an uplift. Vested at 9.15.

 

Went in 1 lot of OCBC at 8.95 last Friday.

 

ask them for PRIME lenders defaulting loans in SG. :)

 

Credit Suisse - BUY

TP - S$11.00

Potential S$2.00 upside!!!

Hope to see something close to that price after earning announcement on 8 Aug!