Overseas Chinese Banking Corporation (OCBC Bank)

[ngee]

Hi retired1again, you are welcome. And yes you are right.

Thanks ngee.

Is that mean we can start to accept the right shares at ATM from 1 Sep and before 15 Sep, 5pm?

INDICATIVE TIME TABLE FOR KEY EVENTS
Shares trade ex-Rights 25 August 2014 from 9.00 a.m.
Books Closure Date 27 August 2014 at 5.00 p.m.
Despatch of the Offer Information Statement 1 September 2014
Commencement of trading of “nil-paid” Rights 1 September 2014 from 9.00 a.m.
Last date and time for trading of “nil-paid” Rights 9 September 2014 at 5.00 p.m.
Last date and time for acceptance of and payment for Rights Shares 15 September 2014 at 5.00 p.m.
Last date and time for application and payment for excess Rights Shares 15 September 2014 at 5.00 p.m.
Expected date of issuance of Rights Shares 26 September 2014
Expected date of commencement of trading of Rights Shares 29 September 2014

[ahyeh]

OCBC said in talks to sell United Engineers stake to Charoen

Oversea-Chinese Banking Corp. is in talks to sell its stake in United Engineers, a Singapore property and construction company, to Thai billionaire Charoen Sirivadhanabhakdi, people familiar with the matter said.

The discussions are at an early stage, said one of the people, who asked not to be identified as the deliberations are private. OCBC, its insurance unit and the bank’s founding Lee family together own 34.1% of United Engineers, according to a filing in August last year. Buying more than a 30% stake would trigger a mandatory takeover offer for United Engineers under Singapore rules.

United Engineers has advanced 29% in Singapore trading this year, giving the company a market value of $1.5 billion as of yesterday’s close. Selling the stake would help OCBC, Southeast Asia’s second-largest lender, bolster capital after its $6.2 billion takeover of Hong Kong’s Wing Hang Bank this year.

In 2012, OCBC entered talks to sell its holdings in Fraser & Neave and Asia Pacific Breweries to Charoen’s Thai Beverage Pcl. That touched off a three-front bidding war for the two companies, with Heineken NV eventually buying Asia Pacific Breweries and Charoen beating out OUE for Fraser & Neave in deals that totalled $18.8 billion, data compiled by Bloomberg show.

United Engineers shares were halted from trading today after they jumped the most in more than four years, prompting Singapore’s stock exchange to ask the company to explain the move. The stock was up 7.4% at $2.46 before the suspension, with trading volume of more than five times the six- month daily average.

OUE Interest
OUE had earlier expressed interest in OCBC’s stake in United Engineers, though those talks are no longer active, said one of the people.

OCBC and its units also control 69% of the company’s preference shares, according to United Engineers’ latest annual report.

Soammaphat Traisorat, chief executive officer of Charoen’s Bangkok-based TCC Land Co. unit, didn’t respond to phone calls or e-mails seeking comment. Spokesmen for OCBC and OUE declined to comment.

Charoen is Thailand’s richest man with a $15.9 billion fortune, according to the Bloomberg Billionaires Index. He controls an empire whose businesses span industries from beer to property development.

Selling Assets
United Engineers, which bought Singapore-based builder WBL Corp. last year for $908 million including debt, was founded in 1912 as an engineering company that helped build Singapore’s Shangri-La hotel and historic supreme court.

The company last week said second-quarter profit doubled as it booked income from recently completed residential properties. United Engineers’s properties includes the UE Square shopping mall in central Singapore, and it owns real estate projects in five Chinese cities through WBL, according to the companies’ websites.

United Engineers agreed to sell its MFS Technology business this month for $124 million, and its engineering unit said in March that United Engineers was in talks to sell its stake. United Engineers is also divesting its luxury-car dealership, according to people familiar with the matter.

OCBC Chief Executive Officer Samuel Tsien said this week that he’ll look to sell “non-core” assets following the Wing Hang purchase. The Singaporean bank plans to raise $3.4 billion by selling shares to existing investors to replenish capital after the acquisition.

http://www.theedgesingapore.com/the-dail...aroen.html

[Ken123456]

Hi all,

If I only have DBS account, can I apply for the ocbc right in my DBS account?

Thanks

[mario1942]

Hi all,

Need some clarifications. I bought my OCBC shares through CPF (DBS).
1) What if I have insufficient funds in CPF that I can use to purchase the rights? Am I able to do a top up just for the purchase?
2) Can I buy nil-paid rights through CPF?

Thanks in advance.

[touzi]

Hi all,

If I only have DBS account, can I apply for the ocbc right in my DBS account?

Thanks

should be possible, just like the rights for any other counter.

[Caelitus]

Hi all,

Need some clarifications. I bought my OCBC shares through CPF (DBS).
1) What if I have insufficient funds in CPF that I can use to purchase the rights? Am I able to do a top up just for the purchase?
2) Can I buy nil-paid rights through CPF?

Thanks in advance.

Please note that cash top-ups are not allowed, except in the case of taking up entitlements or conversion of entitlements. You may top-up your CPF Investment Account through DBS if you have insufficient CPF savings or stock limit to subscribe for the entitlements or conversion. However, such cash top-ups are not withdrawable or refundable, even if your applications are unsuccessful.

[AlphaQuant]

http://www.channelnewsasia.com/news/sing...33906.html

SINGAPORE: OCBC Bank has moved to sweeten its rights issue with product-specific incentives.

In a statement on Thursday (Aug 28), the bank says shareholders who subscribe for their rights shares at OCBC ATMs will not have to pay the usual S$2 ATM transaction fee.

Additionally, shareholders can also earn payment bonus interest of 1 per cent on their OCBC 360 account balance by paying two bills online or by GIRO. Usually, they have to pay three bills to qualify for the bonus interest.

[Porkbelly]

Anyone who has internet access to their CDP accounts can view and verify their OCBC rights entittlements online now.
( as of today 31Aug 3014 )

[ngcheeki]

Anyone who has internet access to their CDP accounts can view and verify their OCBC rights entittlements online now.
( as of today 31Aug 3014 )

I had checked my CDP account and my entitled OCBC rights has already credited into it.

[Caelitus]

Is anyone able to shed light if excess rights are given to round up your entitled rights or your overall holdings (if you have odd lots prior to rights issue)?