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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Oversea-Chinese Banking Corp. Limited    OCBC   SG1S04926220

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Oversea Chinese Banking : Acquisition of Additional 18.51% Interest in Maxwealth Fund Management Company Limited

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01/17/2018 | 11:24am CET

OVERSEA-CHINESE BANKING CORPORATION LIMITED

(Incorporated in Singapore)

(Company Registration No. 193200032W)

ACQUISITION OF ADDITIONAL 18.51% INTEREST IN MAXWEALTH FUND MANAGEMENT COMPANY LIMITED

Oversea-Chinese Banking Corporation Limited ("OCBC") wishes to announce that OCBC, through its subsidiary Lion Global Investors Limited, has acquired 37,020,000 ordinary shares in the registered capital of Maxwealth Fund Management Company Limited ("FMC"), a company incorporated in the People's Republic of China, for a total cash consideration of RMB61.45 million (the "Consideration"). OCBC's interest in the registered capital of FMC has increased from 10.00% to 28.51% and FMC has become an associated company of OCBC.

The remaining 71.49% interest in FMC is held by Bank of Ningbo Co., Ltd., which is also an associated company of OCBC.

The Consideration was based on FMC's audited net book value of RMB1.66 per share as at

31 December 2016 and was funded by internal resources.

The transaction is not expected to have any material impact on the net tangible assets or earnings per share of the OCBC Group for the financial year ending 31 December 2018.

Issued by

OVERSEA-CHINESE BANKING CORPORATION LIMITED

17 January 2018

OCBC - Oversea-Chinese Banking Corporation Ltd. published this content on 17 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 January 2018 10:24:06 UTC.

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Sales 2017 9 379 M
EBIT 2017 5 111 M
Net income 2017 4 035 M
Debt 2017 -
Yield 2017 2,79%
P/E ratio 2017 13,70
P/E ratio 2018 12,47
Capi. / Sales 2017 5,90x
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Capitalization 55 358 M
Chart OVERSEA-CHINESE BANKING CO
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Oversea-Chinese Banking Co Technical Analysis Chart | OCBC | SG1S04926220 | 4-Traders
Technical analysis trends OVERSEA-CHINESE BANKING CO
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 13,0  SGD
Spread / Average Target -1,7%
EPS Revisions
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NameTitle
Samuel Nag Tsien Group CEO & Non-Independent Executive Director
Sang Kuang Ooi Chairman
Ching Wei Hong Chief Operating Officer
Siew Peng Tan Chief Financial Officer & Executive Vice President
Khiang Tong Lim Head-Group Operations & Technology
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