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

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Oversea Chinese Banking : OCBC Group's Shareholdings in United Engineers Limited and WBL Corporation Limited

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01/06/2017 | 02:37am CET

OVERSEA-CHINESE BANKING CORPORATION LIMITED

GREAT EASTERN HOLDINGS LIMITED

(Incorporated in Singapore) (Company Registration No. 193200032W)

(Incorporated in Singapore) (Company Registration No. 199903008M)

JOINT ANNOUNCEMENT: OCBC GROUP'S SHAREHOLDINGS IN UNITED ENGINEERS LIMITED AND WBL CORPORATION LIMITED

Oversea-Chinese Banking Corporation Limited ("OCBC Bank") and Great Eastern Holdings Limited ("GEH") refer to their joint announcement dated 26 September 2016 ("Announcement") in relation to their combined stakes in United Engineers Limited ("UEL") and WBL Corporation Limited ("WBL").

Further to the Announcement, OCBC Bank and GEH wish to announce that they have jointly appointed Credit Suisse (Singapore) Limited as their financial adviser in connection with the strategic review encompassing the whole of the combined stakes of OCBC Bank and GEH in UEL and WBL. Such strategic review is still ongoing and there is no certainty that the review will result in the completion of any transaction or other options.

Shareholders are advised to exercise caution when dealing in the shares of OCBC Bank or GEH and to refrain from taking any action in respect of their investments which may be prejudicial to their interests. In the event that shareholders wish to deal in the shares of OCBC Bank or GEH, they should seek their own professional advice and consult with their own stockbrokers.

OCBC Bank and GEH will, in compliance with applicable rules (including the Corporate Disclosure Policy of the Listing Manual of the Singapore Exchange Securities Trading Limited), make further announcements as appropriate

Issued by

OVERSEA-CHINESE BANKING CORPORATION LIMITED

Issued by

GREAT EASTERN HOLDINGS LIMITED

5 January 2017

5 January 2017

OCBC - Oversea-Chinese Banking Corporation Ltd. published this content on 05 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 January 2017 01:37:03 UTC.

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Financials ( SGD)
Sales 2016 8 510 M
EBIT 2016 4 494 M
Net income 2016 3 533 M
Debt 2016 -
Yield 2016 3,85%
P/E ratio 2016 11,02
P/E ratio 2017 11,00
Capi. / Sales 2016 4,61x
Capi. / Sales 2017 4,41x
Capitalization 39 211 M
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Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 9,10  SGD
Spread / Average Target -2,7%
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NameTitle
Samuel Nag Tsien Group CEO & Non-Independent Executive Director
Sang Kuang Ooi Chairman
Wei Hong Ching Chief Operating Officer
Siew Peng Tan Chief Financial Officer & Executive Vice President
Khiang Tong Lim Head-Group Operations & Technology
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