MONEY MASTER

Singapore equities opened firmer as a  rebound in US technology stocks  and easing risk sentiment supported regional markets, while investors focused on potential  value-unlocking moves in the banking sector . Market Snapshot The  Straits Times Index (STI)  rose  0.18% to 4,972.54 , with  advancers outpacing decliners (75 vs 41)  in early trade, reflecting cautious optimism. Wall Street Recovery Driven by Tech US markets stabilised after last week’s selloff, led by a sharp rebound in semiconductor and tech names: Nasdaq +0.9% ,  S&P 500 +0.3% , while  Dow -0.2% Intel  surged  11.2% Micron Technology  gained  9.9% Marvell Technology  rallied on index inclusion The move highlights  resilient investor conviction in AI-driven growth , despite recent volatility. Singapore Labour Market Shows Caution Hiring sentiment weakened, with outlook falling to  +13% for Q3 2026 , the lowest since 2021. Companies ar...

Singapore’s financial powerhouses—DBS, UOB, and OCBC—are accelerating their expansion into RMB cross-border settlements , positioning themselves as  regional leaders  in Asia’s rising RMB payment ecosystem, driven by China’s Belt and Road Initiative (BRI) and the global momentum behind RMB internationalization. RMB Payment Volumes Hit Record Highs In  2024 , China's  Cross-Border Interbank Payment System (CIPS)  handled over  RMB 175 trillion , marking a  42.6% YoY increase , underscoring the  growing relevance of RMB as a global settlement currency . This surge aligns with a broader trend of  de-dollarization , further incentivizing regional financial institutions to  deepen RMB infrastructure capabilities  and  tap into the expanding RMB payment corridor . Singapore’s Big Three: Strategic Integrations with CIPS DBS Leads the Charge in RMB Clearing First Singaporean bank to become a  direct CIPS participant . Achieved...

Profit Matches Forecasts Despite Margin Pressure Oversea-Chinese Banking Corp (OCBC), Singapore’s second-largest lender, reported a second-quarter net profit of  S$1.82 billion , down 7% from a year earlier, in line with analyst expectations. The decline was primarily driven by softer net interest income as margin compression continued to weigh on profitability. Key Financial Highlights Net Interest Margin (NIM):  Dropped to 1.92% from 2.20% in 2Q24. Net Interest Income Outlook:  2025 guidance lowered to a  mid-single-digit percentage decline , with NIM expected in the  1.90%-1.95% range  versus ~2% previously. Non-Interest Income:  Grew 5% YoY on stronger fee and trading income. Wealth Management:  Assets under management rose 11% to a record  S$310 billion , supported by net inflows and positive market performance. Dividend:  Interim ordinary dividend maintained at 41 Singapore cents. CEO Transition Amid Challenging Outlook Group CEO H...

Helen Wong, the CEO of OCBC, received a slight pay increase for FY2024, amounting to S$12.8 million, compared to S$12.1 million in FY2023. This increase of 5.7% comes after Wong led the bank to another record-breaking year of earnings. Her FY2024 compensation package includes a base salary of S$1.2 million, with the remainder coming from bonuses and other performance-based incentives. The increase reflects her leadership in achieving strong financial results for the bank.

  Strong Financial Performance OCBC Bank reported a record net profit of S$7.59 billion (US$5.68 billion) in 2024 , up from  S$7.02 billion in 2023 . Total income surged to S$14.47 billion , driven by: Net interest income of S$9.76 billion  (up from S$9.65 billion). Non-interest income of S$4.72 billion , a significant rise from S$3.86 billion. Capital Return & Dividends OCBC plans to return S$2.5 billion to shareholders over two years  via: Special dividends worth 10% of net profit for 2024 & 2025. Share buybacks. Dividends for 2024: Final ordinary dividend of 41 Singapore cents per share , bringing total  ordinary dividends to 85 cents per share . Special dividend of 16 cents per share , pending approval at the  2025 Annual General Meeting (AGM). Outlook & CEO’s Remarks CEO Helen Wong remains "cautiously optimistic" about regional growth in 2025. OCBC aims to  capitalize on market opportunities while managing economic uncertainties. Summa...

  Market Overview Singapore stocks opened lower on Wednesday , mirroring  US market declines  as concerns over  chip trade restrictions  and  weak consumer confidence  pressured tech stocks. Straits Times Index (STI) fell 0.23% to 3,906.84 , with 122 gainers vs. 90 decliners. US markets struggled , with the  Nasdaq falling 1.35%  and the  S&P 500 down 0.47% , as  potential semiconductor export restrictions  to China weighed on sentiment. Singapore Market Performance & Sector Highlights Singapore equities gained 6% in the past three months ,  outpacing ASEAN markets , driven by: Financial sector (+13%) , supported by rate alignment with the US. Telecom & Utilities sector growth , fueled by AI-driven  data center expansion . Government bond yields remain stable , benefiting from steady inflation and interest rate trends. Stocks to Watch OCBC Bank (O39.SG) : Q4 net profit rose 4% YOY to S$1.69 billion , but...

  OCBC's private bank , the Bank of Singapore , is targeting more asset flows from wealthy individuals in the UK, particularly those with “non-dom” status , as the British government considers tax hikes on foreign residents, according to senior executive Ranjit Khanna . The bank plans to double its revenue from Europe and the Middle East over the next three to five years, with a focus on attracting UK-based clients seeking alternatives due to rising tax pressures. Singapore is becoming an attractive destination for non-domiciled UK residents looking to relocate their assets amid proposed tax changes by UK Prime Minister Keir Starmer , which aim to fund key spending initiatives. The Bank of Singapore already books clients' assets in Singapore and Hong Kong , with 90% of its business coming from Asia. To support this growth, the bank plans to expand its London team and recently appointed Rob Woodthorpe Browne as its new head of London operations, following the retirement of...

Malaysia has been on the spot light in the business news for most of the wrong reasons recently...the low oil prices and structural changes in China are hammering the country's export revenues and the 1MDB scandal has continued to take central stage....casting doubt and uncertainties over the country's stability in politics. And yes, with the Fed rate hike more or less certain after the jobs data in October was released, we know the RM will continue to depreciate further, driving up the living costs of ordinary Malaysian folks like you and I, and yet OCBC feels that things are not as bad as it seems. Malaysia’s GDP growth seems likely to continue ticking along at a moderate pace, helped by fiscal spending programmes. Bank Negara Malaysia is forecasting GDP growth of between 4% and 5% in 2016. Malaysia “That’s not great but it is nowhere near a recession,” says Wiranto, an economist from OCBC Bank, adding that Malaysia is likely to achieve the upper range of its g...