Great Eastern Holding

[kbl]

GE will announce fy12 year end result on this coming Friday, Feb 6 just before maket opens.

Happy CNY to all

hi SLC81

This Friday, Feb 8 not 6.

Good Health, Happiness & Prosperity CNY To All ValueBuddies!!!!

[SLC81]

thanks for the correction. watch out for tomorrow morning annoucement Kbl.

[greengiraffe]

GE's special dividends of 27 cents appears to be on a low side considering that it raked in a huge one off due to its sale of the century from APB and F&N.

Perhaps, OCBC is saving the best for itself given that it is already in firm control of GE.

By giving only 27 cents, OCBC will help to keep minorities at bay while keeping as much for OCBC holders in the event that it mount another attempt to take GE private.

Year of the snake just started - have to keep my vested dreams well and alive.

GG

[SLC81]

the chance for privatization is quite slim now and I am suspected that they are lookinh for acquisition of insurance or other business in the region.
still the dividend yield is almost 4 pct which is not too bad after all

[greengiraffe]

As long as there is no status quo, I deemed it positive for shareholders' wealth.

Personally, I do not think that there are speculators in GE at this moment. Mostly holding for the wrong reasons - Wrong Term Investor

Vested

the chance for privatization is quite slim now and I am suspected that they are lookinh for acquisition of insurance or other business in the region.
still the dividend yield is almost 4 pct which is not too bad after all

[greengiraffe]

With the other lion being caged pending further decisions by new owner, this red lion is going from strength to strength.

The $18.00 closing is a whisker away from the $18.18 and $18.24 weekly closing levels for 26 May and 2 June 08. All time high weekly closing is $20.80 for week ending 5 Feb 07.

Where is the lion heading? Ideally, red lion should continue to head north as indicated by analyst's reports.

However, one can only hope that red lion catches the modern junk for a motorised ride to the end of the journey like the Tiger and Lion that it has since parted ways.

Vested and In Wild Safari Dreams
Green Giraffe

[toiletsiao]

Theres a 300 lot mArried deal done on friday..jusr before market close...its priced at 17.96... Just something interesting to note

[greengiraffe]

Thanks for that, I really missed that married trade.

Theres a 300 lot mArried deal done on friday..jusr before market close...its priced at 17.96... Just something interesting to note

[greengiraffe]

On other potential deals, while there is no corporate exercise planned to take OCBC's insurance arm Great Eastern private, he said that "if there are opportunities to increase the bank's holdings", it will.

In my own opinion, OCBC will not issued a straight hard hitting statement on its eventual intention for GE. Following its previous 2 setbacks, the strategy going forward is likely to increase GE stake should the opportunities arises - ie OCBC gets an offer to buyout a stake that will take it above 90% and enable it to privatise GE. Otherwise, it will not risks its reputations tabling a deal that is likely to meet with another snub from rock solid minorities on GE's register.

http://www.straitstimes.com/premium/mone...e-20130225

OCBC chief steps up to the challenge

Veteran banker eyes bigger presence in China, Indonesia

Published on Feb 25, 2013

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-- PHOTO: BLOOMBERG

By Magdalen Ng

OCBC Bank is set to ramp up expansion into the high-growth markets of Indonesia and China even as it posted a record set of results for last year.

In an interview with The Straits Times, OCBC chief executive Samuel Tsien said: "Because the local economic activity is not likely to grow as high as we have seen in the past, we need to find a channel such that we can have new areas of growth. That is why we say we would like to see the overseas market more developed."

Just last week, OCBC Bank announced a full-year profit of $3.99 billion for 2012, up from $2.31 billion a year ago. Excluding one-time divestment gains, core net profits were still up 24 per cent to a record $2.83 billion.

Mr Tsien, 58, took over the helm last April from Mr David Conner, who stepped down after a successful 10-year run.

There are signs an expansion could be afoot, especially since the bank did not issue a special dividend after its divestment gain from the sale of its stake in Fraser & Neave, and Asia Pacific Breweries. The dividend payout ratio fell to 40 per cent, the lowest in seven years, as the bank will be retaining its earnings for expansion.

All three analysts, who declined to be named, seemed to have the sense that Mr Tsien might make a move sooner rather than later, but added a disclaimer that it might be too early to make a call.

Mr Tsien noted that doing business in Indonesia and China is not easy, because there could be policy changes, and there could be some volatility. "We need to manage the risk very well, which is to understand the drivers for economic activity and how to do business with those sectors that we think have more stability than others," he explained.

Since 2007, OCBC has poured 3.5 billion yuan (S$694 million) of capital into China, excluding its purchase of a 15 per cent stake in the Bank of Ningbo. It also has a 20 per cent stake in Avic Trust, which complements OCBC's businesses in China.

On top of its 16 branches, the bank will open its latest in Shaoxing, and is looking to increase its branch network at a pace of two to four new branches a year, depending on administrative approval and the identification of suitable locations.

Mr Tsien is also on the lookout for suitable acquisition targets, given that the rules allow foreign banks to make two investments of up to 20 per cent, on top of their existing presence.

"We are interested. If there is a strategic fit, we probably will want to make investments out of the Zhejiang area. That could create strategic positioning for us," he added.

OCBC NISP, with its franchise of 350 branches, is still rather concentrated on the mass commercial segment, which comprises business slightly smaller than small and medium-sized enterprises.

Mr Tsien wants to expand on both ends of the spectrum, to small businesses and corporates. For example, OCBC NISP has expanded into structuring deals for project financing in the energy sector, including the green-field development of the 2,000MW Central Java Power Project.

Currently, Singapore and Malaysia are the two largest contributors to profit, at about 62 per cent and 22 per cent respectively. While he does not have a specific target for overseas market contributions, he said he would like to grow the entire pie and "have more spread out contributions".

On other potential deals, while there is no corporate exercise planned to take OCBC's insurance arm Great Eastern private, he said that "if there are opportunities to increase the bank's holdings", it will.

He added that the bank intends to keep most of its property holdings for long-term investments, but if opportunities arise, the bank will sell its non-core holdings and use the returns for its core business. "We will not sell if we do not feel that the value is there," he said.

Since Mr Tsien has taken over, he seems to have kept a low profile, with few changes to the strategy. That could partly be because Mr Tsien had been with OCBC Bank for five years as its head of Global Corporate Bank.

The veteran banker was formerly the chief executive of Bank of America (Asia) and China Construction Bank (Asia). He spent the last 15 years before coming to Singapore in Hong Kong, where his wife still works. The couple have a daughter, who is studying in the United States.

An OCBC staff said Mr Tsien is very well-liked by his subordinates. "When he comes back to work on the weekends, he even buys food for the security guards. I think that's quite something," the staff member added.

Mr Tsien is known to be genial and reserved, soft-spoken and almost polite to a fault.

On OCBC being one of the banks in Singapore implicated in a rate-rigging scandal, he said that the individual bank reviews have been submitted to the Monetary Authority of Singapore, and declined comment on the findings before an official announcement was made.

"If you look at an industry perspective, it is certainly improper behaviour if the rates submitted do not reflect the real market situation. It is a behaviour that we do not agree (with) and do not condone. I think it does reflect that the industry needs some revamp, that this behaviour is not something that will be encouraged by incentives," he said.

Mr Tsien also emphasised that his focus on expanding overseas will not mean that the bank will no longer place its resources here, where it is the second-largest lender. He noted that the bank has introduced the Frank segment and products, which conveys that the bank is evolving to meet the market's needs.

"We are making sure that we will grow along with them. As the market moves towards the younger population and what they like, OCBC as a long established bank will move along with that development," he added.

songyuan@sph.com.sg

Veteran banker

Mr Samuel Tsien was head of Global Corporate Bank at OCBC before becoming chief executive
Previously chief executive of Bank of America (Asia) and China Construction Bank (Asia)
Was in Hong Kong for 15 years before coming to Singapore
His wife is working in Hong Kong, and they have a daughter who is studying in the United States



Background story

NEW AREAS OF GROWTH

Because the local economic activity is not likely to grow as high as we have seen in the past, we need to find a channel such that we can have new areas of growth. That is why we say we would like to see the overseas market more developed.

- OCBC chief executive Samuel Tsien

[greengiraffe]

1.0m shares just crossed on board at 18.08. This is following 300k done at 17.96 last friday.

Getting really interesting