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SGX:U11

32 stories mentioning SGX:U11Updated 1d ago

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Asia

Aspial Lifestyle to Raise SG$85 Million via Equity Fund Raising

Aspial Lifestyle (SGX:5UF) plans to raise around SG$84.8 million in gross proceeds via an equity fund raising, according to a Thursday filing with the Singapore Exchange.Shares of the consumer lifestyle company were up over 1% in Friday trading.The consumer lifestyle group intends to issue 149.3 million new shares via a private placement to raise roughly SG$60.0 million. Additionally, a non-renounceable preferential offering of 61.7 million shares will be extended to existing eligible shareholders to raise a further SG$24.8 million.Both tranches are priced at S$0.402 per share.Aspial stated that the proceeds will be utilized for general corporate activities, working capital needs, and potential strategic investments.DBS Bank, Oversea-Chinese Banking Corp or OCBC (SGX:O39), SAC Capital and United Overseas Bank (SGX:U11) were nominated as joint placement agents for the exercise.

SGX:5UFSGX:O39SGX:U11
International

Fitch Ratings Expects Singapore's Major Banks to Maintain Performance in 12-18 Months

Fitch Ratings expects Singapore banks DBS Group (SGX:D05), Oversea-Chinese Banking Corp. (SGX:O39) and United Overseas Bank (SGX:U11) to continue delivering solid performance over the next 12 to 18 months, according to a release late Thursday.The forecast comes despite increased uncertainty across the globe, with risks linked to banks' lower-rated overseas market and the length and severity of conflict in the Middle East.While all three banks have been reporting slower profitability due to lower interest rates, fee income growth due to wealth management segments has ensured strong financial performances.

^STISGX:D05SGX:O39SGX:U11
Asia

Market Chatter: Hong Kong Banks Step Up Collateral Sales, Liquidations to Cut Bad Debt

Hong Kong banks are stepping up efforts to clean up a growing pile of bad loans, with special asset bankers increasingly turning to tougher recovery measures such as collateral sales and borrower liquidations, Bloomberg News reported Monday.The city's distressed loan ratio has climbed to a two-decade high as soured debt reached about HK$200 billion, driven largely by losses tied to Hong Kong commercial real estate, the report said.At least six lenders have expanded their special asset or recovery teams, including Bank of East Asia (HKG:0023), United Overseas Bank's (SGX:U11) Hong Kong branch, Bank of China (Hong Kong) (HKG:3988), and Hang Seng Bank, according to people familiar with the matter cited by Bloomberg.The banks are reportedly seeking to accelerate loss recovery and free up capital for fresh lending as broader economic conditions improve.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang SengHKG:0023HKG:3988SGX:U11
US Markets

UOB's Q1 Profit Slides 4% on Lower Interest Income Amid 'Softer' Operating Environment

United Overseas Bank's (SGX:U11) net profit slipped 4% in the first quarter on lower net interest and fee income amid a softer operating environment for the Singaporean bank.The bank logged net profit of SG$1.44 billion, down from SG$1.49 billion in the year-ago period, according to a Thursday filing with the Singapore Exchange.The figure also underscores the "resilience of (UOB)'s franchise," the lender said.Earnings per share slipped to SG$3.40 from SG$3.49 in the year-ago period. Analysts polled by Visible Alpha had projected earnings per share of SG$0.83 for the period.Net interest income fell 4% year over year to SG$2.32 billion from SG$2.41 billion but still beat Visible Alpha's estimate of SG$2.31 billion.Despite recording lower interest income, the bank's customer loans grew 4% to SG$353.8 billion from SG$341.2 billion, helping minimize the impact of margin pressures from the lower interest rate environment, UOB said.The non-performing loan ratio was at 1.5% in the first quarter, unchanged from the linked quarter but lower than the 1.6% recorded in the year-ago quarter.Credit costs on loans remained within expectations at 26 basis points.Net fee income declined 8% to SG$637 million from the record-high of SG$694 million in the year-ago period amid a "more cautious and risk-off market sentiment."Deposits jumped 6% to SG$426.7 billion from SG$401.3 billion. Assets under management jumped 5% to SG$198 billion from SG$188 billion."While global uncertainty remains elevated, business activity held up across our key segments," CEO Wee Ee Cheong said in a statement.For 2026, UOB forecasts loans to grow in single digits and full-year net interest margin to range between 1.75% and 1.8%.The bank expects fees to grow in single digits, while it forecasts operating costs to rise in low single digits. Credit expenses could increase between 25 and 30 basis points.UOB also expects wealth income to double by 2030, Reuters reported Thursday, citing Wee.

SGX:U11
Asia

United Overseas Bank's Net Profit Down 4% in Q1

United Overseas Bank's (SGX:U11) net profit during the first quarter of the year fell 4% to SG$1.44 billion from SG$1.49 billion a year earlier, according to a Thursday filing with the Singapore Exchange.Earnings per share slipped to SG$3.40 from SG$3.49 in the year-ago period. Analysts polled by Visible Alpha had projected earnings per share of SG$0.83 for the period.Net interest income declined by 4% year over year to SG$2.32 billion from SG$2.41 billion, slightly above the Visible Alpha estimate of SG$2.31 billion in Q1.

SGX:U11
US Markets

OCBC Acquires HSBC Indonesia's Wealth, Retail Business, Adding SG$6.6 Billion in AUM

Oversea-Chinese Banking Corporation (SGX:O39) or OCBC, agreed to acquire the retail and wealth management business of HSBC (HKG:0005)'s Indonesian arm.The deal, executed through its subsidiary PT Bank OCBC NISP Tbk, involves the transfer of assets and liabilities of HSBC Indonesia's International Wealth and Premier Banking business, according to a Monday press release.The acquisition will expand OCBC's Indonesia platform by about SG$6.6 billion in assets under management and 336,000 customers.The portfolio includes SG$4.3 billion in customer investments across mutual funds, bonds, and insurance, as well as SG$2.3 billion in deposits and a retail loan book of about SG$0.3 billion.Total consideration will be based on net asset value at completion, with a premium of up to about SG$0.48 billion, subject to adjustment mechanisms."This acquisition in Indonesia fits well into our Next Frontier strategy under the Franchise Shift of building up our Indonesia franchise," Tan Teck Long, Chief Executive Officer of Oversea-Chinese Banking Corporation, said."Indonesia is a long-term commitment, and a key growth market," he added.The SG$2.3 billion deposit base, including sizable low-cost CASA balances, provides stable funding and opens up further wealth management opportunities, Long said.The deal is expected to be completed in the second quarter of 2027 and will be internally funded, with no material impact anticipated on OCBC's net tangible assets, earnings per share, or capital.IWPB Indonesia operates across 26 branches and is one of the largest foreign-owned retail and wealth platforms in the country.Upon completion, OCBC expects the deal to increase its Indonesia unit's AUM by about 25% and boost credit card balances by more than 150%, while adding around 1,300 employees to strengthen its wealth management capabilities.The news confirms a Bloomberg report in mid-April about OCBC emerging as the lead bidder for the assets. Bloomberg previously reported that Singapore's DBS Group (SGX:D05) and United Overseas Bank (SGX:U11), Malaysia's CIMB Group (KLSE:CIMB) and Japan's Sumitomo Mitsui Financial Group (TYO:8316) were in the running for the business.

HKG:0005KLSE:CIMBSGX:D05SGX:O39SGX:U11TYO:8316
Asia

Keppel Infrastructure Trust Proposes Issue of SG$200 Million Worth of Bonds

Keppel Infrastructure Trust (SGX:A7RU) proposed the issue of SG$200 million worth of 2.80% bonds due 2033 under its SG$3 billion multicurrency debt issuance program, according to a Tuesday filing with the Singapore Exchange.DBS Bank, Oversea-Chinese Banking Corp. or OCBC (SGX:O39) and United Overseas Bank (SGX:U11) were the joint lead managers of the Series 006 bonds, which will mature on April 28, 2033.The bonds are expected to be issued on April 28.Net proceeds from the issue will be used for financing or refinancing acquisitions and investments, asset enhancement, general working capital and for refinancing the borrowings of the group.

SGX:A7RUSGX:O39SGX:U11
Asia

Market Chatter: OCBC Leads Bid for HSBC's Indonesian Consumer Business

Oversea-Chinese Banking (SGX:O39) emerged as the lead bidder for HSBC Holdings' (HKG:0005) Indonesian consumer business, Bloomberg News reported Friday, citing people familiar with the matter.The Singaporean bank's offer values the business at $350 million, the report said, citing the sources.No final decision has been made, with a possibility of other parties joining the bid, the people reportedly said.OCBC and HSBC did not immediately respond to requests for comment from.Bloomberg previously reported that Singapore's DBS Group (SGX:D05), Oversea-Chinese Banking, and United Overseas Bank (SGX:U11), as well as Malaysia's CIMB Group (KLSE:CIMB) and Japan's Sumitomo Mitsui Financial Group were in the running for the business.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005KLSE:CIMBSGX:D05SGX:O39SGX:U11
Asia

United Overseas Bank Repurchases, Cancels Shares Worth SG$1.4 Million

United Overseas Bank (SGX:U11) bought back and canceled 37,000 shares worth nearly SG$1.4 million in the open market on Wednesday, according to a same-day filing with the Singapore Exchange.The bank has been authorized to buy back around 83.5 million shares. To date, it has bought back nearly 20.7 million shares.

SGX:U11
Asia

United Overseas Bank Files for Singapore Listing of $500 Million Worth of Bonds

United Overseas Bank (SGX:U11) filed for the listing of $500 million worth of 4.131% covered bonds due 2031 on the Singapore bourse, according to a filing with the Singapore Exchange on Wednesday.The bonds will be listed and quoted in the Bonds Market on April 16, the company added.

SGX:U11
Asia

Lendlease Global Commercial REIT Prices SG$120 Million Worth of Bonds

Lendlease Global Commercial REIT (SGX:JYEU) priced SG$120.0 million worth of 4.28% perpetual bonds under its SG$1 billion multicurrency debt issuance program, according to a Tuesday filing with the Singapore Exchange.Shares of the REIT were down nearly 1% in Wednesday trading.The bonds will be issued on April 23, the filing said.DBS Bank and Oversea-Chinese Banking Corp. or OCBC (SGX:O39) were appointed as joint global coordinators, while DBS Bank, OCBC and United Overseas Bank (SGX:U11) were named as joint lead managers and bookrunners for the bonds.Net proceeds raised from the issue will be used to refinance existing borrowings.

SGX:JYEUSGX:O39SGX:U11
Asia

United Overseas Bank Repurchases, Cancels Shares Worth SG$1.4 Million

United Overseas Bank (SGX:U11) bought back and canceled 37,000 shares worth nearly SG$1.4 million in the open market on Monday, according to a same-day filing with the Singapore Exchange.The bank has been authorized to buy back around 83.5 million shares. To date, it has bought back nearly 20.6 million shares.

SGX:U11

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