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(Post 1 of 2119) 05/05/1999.15:04:00 |
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Hello everyone, Just wondering if anyone has an opinion on UOB F and why it is lagging so far behind DBS F and OCBC F. In contrast, the local counter of UOB is within a dollar of its counterparts. There's also high volume on UOB F today. Thanks! |
| (Post 2 of 2119) 08/06/1999.23:38:00 |
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UOB Bank 1H profit rises 25 percent to S$319 million Singapore, Aug. 6 - Singapore's United Overseas Bank Corp. said first-half profit rose 25 percent, as fee income increased and provisions for bad loans fell. Singapore's third-largest bank by assets said profit for the half rose to S$319.7 million ($191 million), or 64.2 cents a share, from S$256.7 million, or 51.6 cents a share, in the year-earlier period. The bank was expected to earn S$286.5 million, or 29 cents a share, the average estimate of six banking analysts polled by Bloomberg News. The bank's performance has improved along with the economies of Singapore and the region. Singapore is expected to report this weekend that growth during the second quarter was about 5 percent, up from 0.8 percent on-year growth in the first quarter. Net interest income in the first half fell 11 percent to S$542.6 million from S$608.4 million a year ago, the bank said. The bank's fee and commission income rose 31 percent to S$151.2 million from S$115.3 million. The bank's pretax provisions for bad loans fell 32 percent to S$152.5 million from S$225.4 million a year earlier. Analysts expected provisions to decline to S$179 million. "The theme is lower provisions, improved lending margins and signs that bad loans will peak later this year,'' Thomas Monaco, a regional banking analyst with Lehman Brothers Asia Inc. in Hong Kong said before the earnings were released. The bank said total provisions to the end of June totaled S$1.8 billion, up from S$1.6 billion at the end of last year. Total non-performing loans amounted to S$2.7 billion, of which S$752 million are to five Asian countries, excluding Singapore. Provisions for bad loans to the five nations totaled S$925 million at the end of June, from S$875 million at the end of last year, the bank said. The bank's loans and advances fell 6 percent on year to S$26.8 billion from S$28.6 billion. UOB's foreign shares fell 40 cents today to S$11.20. It's local shares, which are restricted to Singaporeans, fell 10 cents today to S$10.30. The company said it would pay an interim dividend of 8 cents per share, unchanged from the payment for the first half of last year. The bank said this first-half year's results had been modified to adopt equity accounting to account for its share of the results and reserves of its associated companies. The policy changed increased the group's net profit after tax by S$3.2 million. Source: Bloomberg |
| (Post 3 of 2119) 08/26/1999.22:09:00 |
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Can't find UOB, so post this under UOBF heading United Overseas Bank Shares Surge 10% After Analysts' Meeting Singapore, Aug. 26 - Shares of United Overseas Union Bank Ltd. soared 10 percent after the normally attention-shy Singapore lender gave analysts an upbeat assessment of its business. The bank's local shares, which are reserved for Singaporeans, rose S$1.10, or 10 percent, to S$11.80. UOB's foreign shares, which can be owned by anyone, rose S$1.10, or 9.6 percent, to S$12.50. While analysts said they were impressed with the content of yesterday's presentation, they were even more impressed with the bank's willingness to talk openly about its business in Singapore and East Asia. "The bank has always had a great story to tell, and now it's finally telling it,'' said Lim Beng Eu, a banking analyst at Vickers Ballas Investment Research Pte. The presentation came three weeks after the bank, among Singapore's largest, said first-half profit rose 25 percent to S$319.7 million ($188 million), or 64.2 cents a share, compared with a year earlier. Profit rose on improved income from fees and reduced provisions for bad loans. At the meeting, the bank addressed its deliberate decision to pull back on lending in East Asia ahead of the full brunt of the region's financial crisis of 1997. "Since the first-half results, we've begun to realize that the bank's enviable decision to pull back its regional exposure early gives it the freedom to focus on growing its business,'' Lim said. Ernest Wong, the bank's president, is scheduled to go before investors in a global video conference call on Sept. 2 organized by a U.S. investment bank. Source: Bloomberg |
| (Post 4 of 2119) 08/26/1999.22:11:00 |
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JFR says UOB the most defensive Singapore bank Singapore, Aug 26 -- Jardine Fleming Research has maintained its Buy recommendation on United Overseas Bank as it is the most defensive bank to own with the best NPL and loan loss coverage ratios. According to JFR's valuation, UOB is trading at a 3 percent discount ot its discounted cash flow value. It notes that while UOB is seen to be investor unfriendly, the group has been doing things on the quiet. At a results briefing held by the bank, UOB highlighted some internal targets for the first time. Such as achieving ROEs of 15 percent and 20 percent by 2002 and 2005 respectively. In addition, UOB expects 50 percent of its profits outside Singapore and 50 percent profits from non-interest income by 2010. |
| (Post 5 of 2119) 09/09/1999.19:30:00 |
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UOB’s Thai buy to see longer term gain Singapore, Sept 9 -- United Overseas Bank's (UOB) expected purchase of a state-owned Thai bank marks progress in the Singapore bank's regional strategy, but the investment would not provide any quick return, analysts said on Thursday. Thai banking sources said the Singapore bank was widely tipped to win Thai government approval on Friday for its bid to take over Radanasin Bank Plc. Analysts said the likely acquisition, which could be worth around S$600 million (US$350 million), would be unlikely to make any contribution to UOB's bottomline in the next couple of years. "Nobody knows when Thai banks will start contributing but it does show that UOB is making headway in its regional acquisitions," Michael Sia, analyst at SG Securities said. Sia said Radanasin would probably turn in a profit for UOB in three to five years time. "I think UOB is paying about S$600 million for a banking licence based on the reports we have seen so far. The book value is really not worth too much. But getting a banking licence in Thailand would have the potential for substantial profit enhancement in the future," he said. UOB would have beaten rival bidders, which in the past had included Standard Chartered Bank, Citibank and U.S. hedge fund New Bridge, to secure a controlling 75 percent stake in the 64-branch bank, analysts said. A UOB spokeswoman said the bank had yet to receive any formal notice from the Bank of Thailand on its bid for Radanasin. Lim Beng Eu, analyst with Vickers Ballas Securities, said having a banking licence would allow UOB to replicate some of its more successful retail products, like credit cards and unit trusts, in Thailand. "Radanasin would give them an established network to leverage and distribute their products," Lim said. Lim said he had a buy on UOB with fair value seen at between S$15-S$16 a share based on a trading multiple of 18 times his 2000 earnings forecast. UOB shares closed at S$13.00, up 10 cents, after having touched a new year high of S$13.10 earlier. Sia said UOB shares were playing catch-up, having been a laggard in the banking sector in the first six months of the year. The purchase would mirror similar moves by other Singapore banks. Development Bank of Singapore has already taken majority stakes in Thai Danu Bank and Hong Kong's Kwong On Bank Ltd. Source: Reuters |
| (Post 6 of 2119) 09/14/1999.16:13:00 |
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erh*** Take a look in the ses announcement page, massive selling by UOB and options exercise conversion going on ... |
| (Post 7 of 2119) 09/16/1999.18:53:00 |
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United Overseas Bank targets 10,000 e-commerce customers by yr-end16 Sep 07:44 SINGAPORE (AFX) - United Overseas Bank Ltd hopes to attract 10,000 customers to its electronic commerce service by the end of the year, UOB's first vice president for Cyberbank Iris Chua said. "UOB already has a corporate base of more than 60,000 customers. The bulk of the 10,000 customers of the e-commerce service will come from there but no less than 30 pct will be new customers." Chua said there will be no listing fee for a period of time for the service. However, there will be a monthly subscription and transaction fees, she added. The e-commerce service is one of three new internet packages that UOB is launching in the coming weeks, along with UOB e-Treasury service which allows trading in foreign exchange over the internet. It launched two other internet packages today -- online investing in unit trusts through UOBAM ONLINE service and online trading of stocks and shares through the UOBS trader service. UOB executive vice president for information technology Lim Bak Wee said the bank's "approach is integrated and customer focused" and that it has "built a strong foundation to support developments in internet banking." Lim said UOB has invested about 6 mln sgd in the four internet packages and sees an "explosion" in internet use for such services. He said cost was one consideration for UOB to explore internet services, while the other consideration was customer service. "Our branches are still quite crowded. We want to move from branch to internet so that the branches can concentrate on more personal matters," Lim said, adding that on average, one counter transaction cost about 3.0 sgd, while over the internet, the customer pays the phone bill. He added that UOB savings from the switch to internet will not significantly affect its bottomline until after two years. |
| (Post 8 of 2119) 09/22/1999.10:06:00 |
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Investors bullish on UOB, and for good reason IT looks like United Overseas Bank (UOB) is still very much the flavour of the month among Singapore's five listed banks. Investor interest has been sustained in part, no doubt, by the slow unfolding of its Thai acquisition -- a teaser of the "now you see it, now you don't" kind. Since last week, reports about UOB being the successful bidder for Radanasin Bank, Thailand's smallest bank, have been painfully coy. But the bank is right in wanting to be careful about not making any premature statements because in Thailand, a situation can remain fluid long after agreements have been inked. Quite apart from the interest generated by the bid for the Thai bank, the ostensible reason given by some analysts for the positive performance of UOB's share price since last month has been the "new openness" exemplified in the much-talked-about briefing given to analysts recently. Warming up: Last month, UOB finally decided it was time to warm up to securities analysts by giving a briefing, although its chairman Wee Cho Yaw has said that he or his executives do meet up with investors or fund managers now and then. The briefing left no doubt that UOB, Singapore's third largest bank, has always been managed competently, no infusion of foreign talent notwithstanding. It also revealed investments the bank has been quietly making over the last few years to make sure it is able to hold its own in the new millennium. More importantly, UOB revealed that the ambition of its tenacious 70-something chairman to make UOB a top regional bank has not been dented by the economic crisis. Management, however, said that the bank would take 5 to 10 years to achieve some of its targets like a return on equity in the upper teens. Neither is its management biting its nails over comments made several months ago by the authorities that Singapore eventually will only have room for two major banks, one of which will be DBS Bank. UOB also revealed that in the last few years it has been spending $60-million-plus a year in the area of information technology. And recently, it unveiled an impressive capability to offer Internet banking, just like the rest of its competitors. In fact, none of the local banks will be found wanting when it comes to IT infrastructure. After all, the latest IT is available to all for a price. But what will emerge to differentiate one bank from the next is how they execute their sophisticated IT platforms. Are employees ready to use the system to help sell financial products? More importantly, are they given free rein? UOB is likely to have built up a strong team of employees who are sales-savvy, having been among the most aggressive local bank in marketing consumer products like housing loans and credit cards. It was the first among the five local banks to venture into retail banking in a big way in the late eighties. Prior to that, everyone went to CreditPOSB -- now part of DBS -- for their housing loans if they bought private property. The other banks quickly followed suit but UOB had the headstart. In fact, UOB, cushioned by a good chunk of housing loan commitments, had eased off from the housing loan market in 1995, more than a year before property prices peaked and plunged. Currently UOB, with its $6.5 billion slice of the housing loan pie, is the closest rival to DBS which, after its POSBank acquisition last year, accounts for over $16 billion of the home loans market, which at end-June totalled over $37 billion. OCBC Bank is third with $4.3 billion. Hands-on chairman: Another of UOB's strong suit is credit cards, although OCBC Bank was the first local bank to start issuing credit cards in the eighties. Prior to that, it was the foreign banks which were the main players. Still, UOB is generally acknowledged to be the leading credit card player with the largest number of cards issued of over 400,000. Perhaps the most significant fact for long-term investors in UOB shares to remember is that the bank's best asset continues to be its hands-on chairman. With his own money on the line, what better incentive is there to ensure that UOB is well run? And like many businessmen of his generation, the wish to leave behind a legacy that will be remembered is probably high on his personal agenda. That should reassure investors that UOB has in place a competent system and management that will carry on fine when he eventually decides to pass on the reins. BT 21Sept 1999, By Siow Li Sen |
| (Post 9 of 2119) 10/05/1999.08:40:00 |
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UOB to offer 2.00 sgd per share for remaining 39.4 pct of UOF SINGAPORE (AFX-ASIA) - United Overseas Bank (UOB) said it will offer 2.00 sgd per share or 57.5 mln sgd for the remaining 39.4 pct of United Overseas Finance (UOF). The price offered is 0.46 sgd or 39.9 pct above the last transacted price of UOF on Oct 1, the bank said. UOB said the scheme, which is aimed at privatising UOF, is part of an ongoing exercise by the group to streamline and rationalise the business of the group and its banking and finance subsidiaries. It added that UOF's privatisation will allow for better integration of similar businesses between UOF and UOB and will also allow UOF and UOB to rationalise the management, resources and cost structure for greater efficiency and competitiveness. UOB Asia Ltd has been appointed to advise both companies on the scheme, while Merrill Lynch (Singapore) Pte Ltd has been appointed to advise the independent directors of UOF. UOB added that the Monetary Authority of Singapore does not object to the scheme to reorganise UOF's share capital. ah/gc AFN HGI58-04Oct99 10:46 GMT AFX ; ASIA ; |
| (Post 10 of 2119) 10/06/1999.14:37:00 |
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UOB shareholders approve merger of local and foreign shares SINGAPORE (AFX-ASIA) - United Overseas Bank Ltd said shareholders have approved the merger of the bank's local and foreign tranches and the merger is expected to become effective about November 12. The shareholders also approved a share buyback and a mandate to allow the company to issue shares up to 50 pct of the bank's issued share capital. dmb/as AFN |
| (Post 11 of 2119) 10/06/1999.23:51:00 |
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BANGKOK, Thailand, Oct 06, 1999 -- Singapore's United Overseas Bank has signed an agreement to take a 75.02 percent stake in Thailand's nationalized Radanasin Bank, the central bank announced Wednesday. After adjustments, United Overseas Bank will be paying about 6.5 billion baht (dlrs 165 million). for the stake under an agreement announced by Bank of Thailand Assistant Gov. Chaktip Nitibhon. Thailand's banking sector was plunged into crisis after an economic downturn in 1997. The government was forced to bail out the sector and nationalize several banks. After rehabilitating the banks, the government has sought to sell them. Some of the weaker banks that were not nationalized were forced to seek strategic partners. Three foreign institutions have acquired Thai banks since the crash: Development Bank of Singapore bought Thai Danu Bank, the Dutch bank ABN Amro acquired Bank of Asia, and Standard Chartered Bank bought a majority stake in the nationalized Nakornthon Bank. UOB and Thailand's central bank still have to reach an agreement on how to share any profit or loss on Radanasin's huge problem loans, said Chaktip. Under a preliminary agreement, the central bank's rescue fund will take 85 percent of any losses from Radanasin's problem loan portfolio, which totals about 80 percent of all lending. UOB will be responsible for 15 percent of the losses. The name of the new bank will be UOB-Radanasin, Chaktip said. |
| (Post 12 of 2119) 10/07/1999.00:14:00 |
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Buy recommendation from ING barings  |
| (Post 13 of 2119) 10/08/1999.15:55:00 |
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Moody's affirms UOB Bank ratings Singapore, Oct 8 - Ratings agency Moody's Investors Service Inc. said Friday it had affirmed its Aa2 long-term deposit rating, Prime-1 short term deposit rating and B financial strength rating for Singapore's United Overseas Bank. Moody's said that UOB's planned acquisition of 75% of Thailand's Radanasin Bank PCL (H.RDB) wouldn't have any "material" negative impact on UOB's creditworthiness. The rating outlook remains stable, Moody's said. The rating agency noted that "UOB is striking this deal near the bottom of the economic cycle, when most asset quality problems are known." It added, "UOB appears to have successfully structured the acquisition to significantly limit its downside risks." Under the terms of the agreement with Thailand's central bank, Radanasin's nonperforming loans - about 80% of the total - will be transferred to an asset management company to be owned by Thailand's Financial Institutions DevelopmentFund (FIDF). As of June 30, Radanasin's gross loans represented only about 8% of UOB's own loans. Moody's noted that UOB is also in the midst of acquiring 60% of Westmont Bank of the Philippines, which has assets of some S$900 million. "The planned acquisitions would somewhat increase UOB's risk profile, while at the same time slightly decreasing UOB's capital adequacy and profitability ratios," Moody's said, adding that the changes wouldn't be "material." Furthermore, creditors will continue to be well protected by UOB's "ample capital, resilient earnings and strong liquidity," Moody's said. "However, any further UOB acquisitions might need to be accompanied by capital raising if UOB wished to maintain its ratings at the Aa2 level," it said. United Overseas Bank (UOB) is Singapore's third largest commercial bank with total assets of S$53 billion. Source: Reuters |
| (Post 14 of 2119) 11/02/2001.15:49:05 |
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UOB sees 50 pct profit contribution from regional ops by 2010 SINGAPORE (AFX-ASIA) - United Overseas Bank said it expects profit contributions from its regional operations to reach 50 pct of its annual profit by 2010. In the first half to June, pre-tax profit from the group's southeast Asian operations contributed 8.0 pct of the total pre-tax profit of 459 mln sgd. "While we will continue to consolidate and improve our services in Singapore, UOB will also have to grow regional. Our target is to achieve 50 pct of our annual profit from outside Singapore by 2010," UOB chairman and CEO Wee Cho Yaw said. "With the acquisitions of majority interests in Westmont Bank in the Philippines and Radanasin Bank in Thailand, we intend to be a premier regional by building upon our strengths in consumer banking, trade finance and treasury activities," he said. The recent acquisitions of Westmont Bank and Radanasin Bank give UOB full commercial banking operations in five of 10 ASEAN countries. UOB has a wholly-owned unit in Malaysia, UOB Malaysia, and a joint venture bank in Indonesia, UOB Bank Bali. It also has a branch in Ho Chi Minh City and a representative office in Myanmar. UOB said it's acquisition of a 60 pct stake in Westmont Bank for 3.0 bln pesos is expected to be completed by mid-November after the signing today of the subscription agreement. The 97-branch Westmont Bank will be renamed United Overseas Bank (Philippines). |
| (Post 15 of 2119) 10/20/1999.02:48:00 |
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UOB signs share subscription pact with Westmont Bank MANILA (AFX-ASIA) - United Overseas Bank of Singapore signed a subscription agreement for the purchase of a 60 pct stake in Westmont Bank for 3.0 bln pesos, a joint statement said. "In its 64 years of operation, UOB has concentrated mainly in the Singapore market. But the business scene is changing rapidly because of globalisation and IT advances," UOB chairman and chief executive officer Wee Cho Yaw said. "While we will continue to consolidate and improve our services in Singapore, UOB will have to grow regionally. Our target is to achieve 50 pct of our annual profit from outside Singapore by 2010," Wee said. "We commit fully to the pursuit of (UOB's) growth targets, confident that much can be achieved from synergy of operations," Westmont Bank president John Anthony Espiritu said. The statement said the purchase is expected to be completed in mid-November, with Westmont Bank to be renamed United Overseas Bank Philippines. Westmont Bank has 97 branches nationwide. The UOB Group has a wholly-owned susidiary bank in Malaysia and a joint-venture bank in Indonesia. |
| (Post 16 of 2119) 11/04/1999.01:08:00 |
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UOB to merger insurance units SINGAPORE (AFX-ASIA) - United Overseas Bank Ltd said it will merge its insurance units United Overseas Insurance Ltd and Industrial & Commercial Insurance Ltd. The merger is subject to approval by shareholders of Industrial & Commercial Insurance and the High Court of Singapore. The acquisition price will be based on the audited net book value of Industrial & Commercial Insurance at the date when the merger becomes effective, it said. The current book value was not disclosed. United Overseas Insurance is a unit of UOB, while Industrial & Commercial Insurance is 59.0 pct owned by Industrial & Commercial Bank Ltd, another UOB subsidiary. |
| (Post 17 of 2119) 11/16/1999.02:39:00 |
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Monday, November 15 7:46 PM SGT United Overseas Bk Grp Won't Assume Westmont Bank's NPLs SINGAPORE (Dow Jones)--Singapore-based United Overseas Bank group said Monday it won't assume the non-performing loans, or NPLs, of Westmont Bank of the Philippines. "The non-performing loans of Westmont Bank will be transferred to a special account, out of the books of United Overseas Bank (Philippines)," UOB said in a statement released after the formal signing of its 60% acquisition of Westmont Bank in Manila earlier Monday. The Singapore bank group, however, will manage the account and help the recovery of troubled client companies. Westmont Bank didn't disclose the size of its NPLs, but the bank has had several problem loans arising from the regional financial crisis. UOB has bought into Westmont Bank for 3 billion pesos ($1=PHP40.115) and renamed it United Overseas Bank (Philippines). |
| (Post 18 of 2119) 11/17/1999.10:51:00 |
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02:13 GMT 17 November 1999 DJ Singapore's UOB To Raise Philippine Unit's Capital-Report MANILA (Dow Jones)--United Overseas Bank Ltd. (P.UOB) of Singapore will raise its investments in its newly acquired Philippine unit, formerly known as Westmont Bank, to 5 billion pesos ($1=PHP40.323), said UOB Chairman Wee Cho Yaw. In a report in the Philippine Daily Inquirer newspaper Wednesday, Chow Yaw said UOB is willing to pour in more investments into its unit, UOB Philippines Inc., and even expand its network by acquiring another bank, though there are no immediate acquisition plans at this point. Singapore's UOB bought 60% of the small Philippine commercial bank for PHP3.3 billion in July. UOB Philippines President John Espiritu said the bank will pursue plans to expand into universal banking in the next two years. Simultaneous with this plan is to list UOB Philippines on the local stock exchange. In the Philippines, universal banks refer to commercial banks with expanded licenses allowing them to venture into non-commercial banking operations such as investment banking and fund management. |
| (Post 19 of 2119) 11/20/1999.12:29:00 |
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UOB - Calling All BIF FISH....Ring Ring Ring ???  1. A similar observation as OCBC - 6million shares, 12.4million shares traded over past 2 wks respectively 2. Prices has risen from a low of $12.40 to $15.30 - 23.4% appreciation over the same period. 3. Similar steeper narrow uptrend built as of OCBC. 4. 10/20/30/60days lagi best - all well on uptrend !!! - BUY on every possible minor weakness. Support - $13.50 (immediate + suspect to be strong) Resist - $15.30 |
| (Post 20 of 2119) 11/20/1999.12:29:00 |
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UOB - Calling All BIF FISH....Ring Ring Ring ???  1. A similar observation as OCBC - 6million shares, 12.4million shares traded over past 2 wks respectively 2. Prices has risen from a low of $12.40 to $15.30 - 23.4% appreciation over the same period. 3. Similar steeper narrow uptrend built as of OCBC. 4. 10/20/30/60days lagi best - all well on uptrend !!! - BUY on every possible minor weakness. Support - $13.50 (immediate + suspect to be strong) Resist - $15.30 |
| (Post 21 of 2119) 11/26/1999.01:20:00 |
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Credit Lyonnais Issues 16 Mln Call Wts On Singapore's UOB SINGAPORE (Dow Jones)--Credit Lyonnais Financial Products (Guernsey) Ltd. said Thursday it has issued 16 million European-style call warrants on ordinary shares of United Overseas Bank Ltd. (UOBH.SI). The warrants are priced at S$0.3905 each (US$1=S$1.6620). Each 10 warrants will entitle holders to buy one UOB share at an exercise price of S$11.5656 on Aug. 23, 2000, the expiry date. A European-style warrant can only be exercised upon maturity of the instrument. The exercise price is based on 85% of the volume weighted average quote of UOB on Nov. 23, the launch date. The issue date is Dec. 6. "The warrants carry a premium of 13.7% and a gearing of 3.48 times," the issuer said in a statement. Credit Lyonnais said it had the discretion to pay cash instead of delivering the shares to the warrant holders. The cash payment will be calculated based on the average closing price of the underlying share for the five days prior to the expiry date. |
| (Post 22 of 2119) 11/29/1999.15:11:00 |
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UOB to transfer 15 bln baht to BoT for stake purchase in Radanasin Bank: BoT Bank of Thailand assistant governor Chaktip Nitibhon said United Overseas Bank will transfer today 15 bln baht to the bank as consideration for the purchase of a majority stake in Radanasin Bank Plc. Chaktip also said the purchase process for the stake will be completed today as the remaining related contracts, including the contract to manage Radanasin Bank's Asset Management Company, will be signed this afternoon. He added that Radanasin Bank will write down its existing capital over the next 3-4 weeks. |
| (Post 23 of 2119) 12/06/1999.13:32:00 |
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ChinFon Commercial has no plan to sell stake to UOB ChinFon Commercial Bank said it has no plan to sell a stake to United Overseas Bank Ltd, rejecting market speculation about the prospect of such a stake sale. "We don't have any stake sale or merger plan with UOB at the moment," a ChinFon group official said. |
| (Post 24 of 2119) 12/30/1999.17:44:00 |
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UNITED OVERSEAS BANK LTD We wish to inform you that United Overseas Bank Limited ("the Bank") has entered into a tenancy agreement with Kay Hian Pte Ltd, an interested person within the meaning of Chapter 9A of the Listing Manual of The Stock Exchange of Singapore Limited for a tenancy as follows:- Tenant Premises Area Monthly Gross Rent Lease Term Kay Hian Pte Ltd #31-01 UOB Plaza 1 80 Raffles Place Singapore 048624 93 square metres $5,355.87 26.12.1999 to 17.10.2002 The lease was negotiated on an arms length basis. The rental is supported by an independent professional valuation carried out by Steven Loh Brooke Hillier Parker Pte Ltd. Kay Hian Pte Ltd, a wholly-owned subsidiary of Kay Hian Holdings Limited, is an associate of Mr Wee Ee Chao, a substantial shareholder of the Bank. Mr Wee Cho Yaw and Mr Wee Ee Cheong, Chairman and Director, respectively, of the Bank are related to Mr Wee Ee Chao. Mr Wee Cho Yaw and Mr Wee Ee Cheong are also substantial shareholders of the Bank. Submitted by Mrs Vivien Chan, Company Secretary on 30/12/1999 to the SES |
| (Post 25 of 2119) 01/08/2000.00:10:00 |
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GOLDMAN SACHS INTERNATIONAL [PROPOSED ISSUE OF 33],GOLDMAN SACHS INTERNATIONAL [000],GOLDMAN SACHS INTERNATIONAL [000 EUROPEAN STYLE CALL WARRANTS RELATING TO THE ORDINARY SHARES OF S$1.00 EACH IN THE CAPITAL OF UNITED OVERSEAS BANK LIMITED] |
| (Post 26 of 2119) 01/08/2000.00:36:00 |
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Goldman Sachs Launches 33 Mln Call Warrants On UOB Goldman Sachs International said Friday it will issue 33 million European-style call warrants on United Overseas Bank Ltd. The issue price of each warrant is S$0.399 and the exercise price is S$12.924. Every 10 warrants will entitle the holder to buy one share at the exercise price on Oct. 5, 2000, the expiry date. A European-style warrant can only be exercised upon maturity of the instrument. The exercise price is based on 90% of the reference price of S$14.36. UOB shares on the Singapore Exchange closed Friday at S$14.40, up 50 cents. The warrants carry a premium of 17.97% and a gearing of 3.6 times, the company said. The placement will be managed by Goldman Sachs (Asia), Goldman Sachs (Singapore) Ltd. and Phillip Securities Pte Ltd. |
| (Post 27 of 2119) 01/10/2000.21:42:00 |
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Can I know when will the warrants - Goldman Sachs be issued? Thanks |
| (Post 28 of 2119) 01/12/2000.16:31:00 |
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Singapore's United Overseas Bank Opens Branch In Bintan United Overseas Bank Ltd of Singapore announced Wednesday the opening of a branch on the Indonesian island of Bintan. The opening makes United Overseas Bank the first foreign bank to operate in Bintan, it said. Known as UOBB Tanjung Pinang, the branch offers a range of banking services including foreign exchange services, current accounts and deposits. United Overseas Bank opened the branch through its joint venture PT United Overseas Bank Bali. |
| (Post 29 of 2119) 01/26/2000.02:08:00 |
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Singapore's United Overseas Bank Buys Thai Stk Broking Co Singapore's United Overseas Bank Ltd. (UOBH.SI), or UOB, said Tuesday it has acquired Thai stockbroking firm Ocean Securities Co. Ocean Securities is one of 28 fully licensed stockbroking firms with a membership seat on the Stock Exchange of Thailand. UOB said the deal, which will enable it to enter Thailand's corporate finance market, is in line with its goal of expanding its regional presence in key businesses. UOB purchased the 100% stake in Ocean Securities through wholly-owned unit United Investment Ltd. However, the Singapore bank didn't say how much it paid for the Thai stockbroking firm, which has an authorised, paid-up capital of 250 million baht (US$1=THB37.207). UOB already has a stockbroking presence in five markets in Asia: Singapore, Hong Kong, Indonesia, Philippines and Malaysia. |
| (Post 30 of 2119) 03/08/2000.11:46:00 |
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Damn fund managers, They have been manupilating the market. and causing panic in the market,selling property and bank shares. |
| (Post 31 of 2119) 03/13/2000.14:09:00 |
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Heavy Buying in of bank shares by Institutional funds seen. |
| (Post 32 of 2119) 03/13/2000.20:19:00 |
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Hi Admin, May I suggest to remove ALL nonsense IMLAC's posting out of SI.com ?? This is very harsh, but I believe many forumers here would hav started to feel the agony. I sincerely hope that SI.com becomes another BT Stock Talk Forum. It's so sad to see all these kind of postings. Rdgs & sorry if I sounds rude. |
| (Post 33 of 2119) 03/14/2000.11:55:00 |
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UOB Radanasin Bank 1999 net profit 10.05 bln baht vs loss 16.97 bln UOB Radanasin Bank Plc 1999 results: Net profit - 10.05 bln baht vs loss 16.97 bln EPS - 0.0051 baht vs loss 0.03 The results are audited and reviewed by the Stock Exchange of Thailand. |
| (Post 34 of 2119) 03/16/2000.06:39:00 |
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UNITED OVERSEAS BANK LTD We wish to inform you that United Overseas Bank Limited ("the Bank") has entered into a tenancy agreement with Kay Hian Pte Ltd, an interested person within the meaning of Chapter 9A of the Listing Manual of The Singapore Exchange Limited for a tenancy as follows:- Tenant Premises Area Monthly Gross Rent Lease Term Kay Hian Pte Ltd #31-02 UOB Plaza 1 80 Raffles Place Singapore 048624 174 square metres $10,020.66 (inclusive of service charge) 01.04.2000 to 17.10.2002 The lease was negotiated on an arms length basis. The rental is supported by an independent professional valuation carried out by Steven Loh Brooke Hillier Parker Pte Ltd. Kay Hian Pte Ltd, a wholly-owned subsidiary of Kay Hian Holdings Limited, is an associate of Mr Wee Ee Chao, a substantial shareholder of the Bank. Mr Wee Cho Yaw and Mr Wee Ee Cheong, Chairman and Director, respectively, of the Bank are related to Mr Wee Ee Chao. Mr Wee Cho Yaw and Mr Wee Ee Cheong are also substantial shareholders of the Bank. Yours faithfully for UNITED OVERSEAS BANK LIMITED Mrs Vivien Chan Company Secretary Datd this 15th day of March, 2000 Submitted by Leo Hee Wui, Assistant Secretary on 15/03/2000 to the SES |
| (Post 35 of 2119) 03/17/2000.10:53:00 |
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heard results out on 24th |
| (Post 36 of 2119) 03/22/2000.08:46:00 |
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emailed by broker: UOB is due to announce its FY99 results this week. It is the last of the Big Four banks to unveil results. Timing could'nt be better given the improved market sentiment and strong interest in bank shares. UOB is expected to post an 87% increase in net profit to $688m but it could surprise on the upside. Its shares look set for a significant re-rating. At the current depressed levels we think that UOB is clearly a BUY. Amongst local banks, UOB shares have seen one of the sharpest falls over the last three months (see table below). It is trading at a prospective FY00 PER of 12.7x versus OCBC and OUB which are at 14x to 15x while DBS is about 20x. UOB sould play catch up soon. Share Price ($) 3/1/2000 21/3/2000 % Chg KTLB 3.88 3.40 (12.4) DBS 27.30 21.90 (19.8) OUB 10.20 7.80 (25.5) UOB 15.40 10.60 (31.2) OCBC 15.80 10.70 (32.3) |
| (Post 37 of 2119) 03/23/2000.10:14:00 |
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marginalised? |
| (Post 38 of 2119) 03/23/2000.10:59:00 |
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q to buy 1t 10 |
| (Post 39 of 2119) 03/23/2000.11:16:00 |
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hi rem; if it breaks below 10.20, that's the end of its upward trend. I wouldn't go in at 10.OO my 2 cent view |
| (Post 40 of 2119) 03/23/2000.11:23:00 |
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mlee,point taken,but confident,thanks and cheers |
| (Post 41 of 2119) 03/23/2000.11:23:00 |
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mlee,point taken,but confident,thanks and cheers |
| (Post 42 of 2119) 03/23/2000.11:40:00 |
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hi rem, why the confidence? Is it because it is the most heavily beaten bank stk... wee guy is a very cunning fox...for all u know he may depress the shares furthur and buy in at a lower price... comments? thks |
| (Post 43 of 2119) 03/23/2000.12:02:00 |
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mlee,cause nomura selling? |
| (Post 44 of 2119) 03/23/2000.12:07:00 |
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why the selling? heard that UOB will announce some development with the results |
| (Post 45 of 2119) 03/23/2000.14:08:00 |
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hi rem; i am not exactly sure what is happening to this conuter.. I have been monitoring it for some time...what i feel is that when MAS announced the banking restructuring prog, UOB is likely to be one who benefits cos of their many diversifications.(look at their balance sheets..scary) but i also recall that several securities are seeing UOB as the least innovative bank in spore..unless there is a change in top mgt, i fear that UOB may be one of the laggards in this sector. There is also fear of a reweighting in the MSCI index could hurt UOB. TA wise, the MACD has 'kiss" but not cut. A fall below 10.20 could be bad in the near term. still maintain a neutral to this counter. rgds mlee |
| (Post 46 of 2119) 03/23/2000.14:20:00 |
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mlee,very good,msci didnt change this round,earliest next change end mei?cheers |
| (Post 47 of 2119) 03/23/2000.14:31:00 |
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bot 1t 10.2 q to sell 1t 10.6 |
| (Post 48 of 2119) 03/24/2000.22:19:00 |
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UOB final results better than forecast(record earning of 760 mil) with generous total final dividend of 37 cts. with total yr99 dividend of 45cts, yield 4.28 % base on today closing px, outshine the other 3 banks. if you bo a 1t at 10500 and hold for the dividend in 3 months, the yield is 14% return! not a bad return compare to the fd they give you at the counter. (The Group achieved a record profit for 1999 with net profit after tax reaching $760 million. This represents a growth of $428 million or 129.2% over last year's profit of $332 million.) |
| (Post 49 of 2119) 03/25/2000.04:46:00 |
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UOB 1999 net profit 760.214 mln sgd vs 331.679 United Overseas Bank Ltd 1999 results: Net profit - 760.214 mln sgd vs 331.679 mln Net interest income - 1.132 bln sgd vs 1.201 bln Pretax profit - 1.026 bln sgd vs 483.047 mln EPS - 72.4 cents vs 31.7 cents Provisions - 253.475 mln sgd vs 653.573 mln Final div - 12 cents vs 10 |
| (Post 50 of 2119) 03/25/2000.05:20:00 |
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UOB/1999 results -- 2 (details) In a statement accompanying results, the company said the substantial increase in profit was mainly due to lower provisions, higher fee and commission income from increased unit trusts, credit card and stockbroking activities, higher dealing income from investments arising from the improved regional markets and higher profits from associated companies. This was partly offset by lower net interest income due mainly to lower interest earned on the group's excess funds because of low interbank rates in 1999 and lower outstanding loan balances, partially negated by better loan spreads. It said the acquisition of subsidiary banks, UOB Radanasin and UOB Philippines did not have any impact on the group's profits in 1999. The results of these subsidiaries were treated as pre-acquisition profits and were included in the computation of goodwill. Goodwill arising from these acquisitions of 164 mln sgd was written off to the reserve account, it said. Total cumulative specific and general provisions as of end-1999 stood at 1.933 bln sgd against 1.844 bln sgd at end-June 1999 and 1.637 bln sgd at end-1998. Out of total provisions of 1.933 bln sgd, general provisions amounted to 819 mln sgd. Non-performing loans stood at 2.993 mln sgd at end-1999. This includes the 205 mln sgd NPLs from UOB Radanasin and UOB Philippines. Total provisions represent 64.6 pct of the group NPL. Total cumulative specific and general provisions for the group's exposure to the five regional countries amounted to 993 mln sgd. Of the total provisions, general provisions amounted to 487 mln sgd. The provisions represent 96.7 pct of the five regional countries NPL of 1.027 mln sgd. UOB says still more room to expand lending in 2000 United Oveseas Bank said there is still more room for the company to expand lending in financial year 2000 boosted by economic recovery in the region and particularly in Singapore, company chairman and CEO Wee Cho Yaw said. Wee told a press briefing that UOB and other local banks should be able to perform well in the next 1-2 two years, but the longer outlook in the coming 3-4 years would depend a lot on future competition with global banks. "In the next one to two years, local banks should perform okay. After three to four years, we don't know. We have to take bigger risks .... bigger giants will come and we have to compete," he said. In terms of market share, he said local banks should be able to maintain a market share of above 50 pct. He said the bank will closely monitor the performance of each branch in Singapore and will close down more branches if their transaction volumes drop. He said the bank would continue its penetration into the region but for the time being there is no plan yet for further acquisitions within regional countries. "Singapore is too small. We have to go to the region. For the time being we cannot become a global bank," he added. "But at the moment we are concentrating in the two banks (acquired last year) to make banks profitable. (Further acquisition) will depend on the opportunity (available)," he said. He said there is no plan to acquire other local banks, citing that such move would not create synergy. On the earnings outlook for financial year 2000, Wee said it is unlikely the bank will see last year's strong growth repeated this year. "We hope to grow ... but it is not easy given the big base of last year. If we can make a growth I'll be very happy," he said. On interest rate trends, Wee said he expects local interest rates to increase by around 25 basis points this year in line with the U.S. trend, which he said may increase by another 50 basis points until the end of the year given that economic growth there is still very strong. Asked if the bank has any plans to divest non-core assets, he said the bank would think about it if (government) guidelines are already in place. "The government hasn't talked to us about it yet," he said. He said if it should happen, it would take around three to five years to implement. UOB appoints Wee Ee Cheong deputy chairman/president The United Overseas Bank said it has appointed Wee Ee Cheong as the group's deputy chairman and president. It said Wee joined the bank in 1979 as credit officer and in 1990 was appointed deputy president and an executive director of the boards of the UOB group. "We require two presidents at the top to share the expanded work portfolio. In addition, we are in the process of recruiting several experienced people to take up senior positions in the bank," company chairman and CEO Wee Cho Yaw said. "In the years ahead, we will be engaging ourselves on two fronts. Even as we develop our regional business to be the region's premier bank, we will continue to ensure that we maintain our market share in Singapore |
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