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Headliners (TCT, OCBC, AnwellTech, Biosensors)
Headliners | 01 July 2011
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By: Jade Lee
Articles (97) Profile

Treasury China Down Plays Concerns On Supply Glut
Treasury China Trust (TCT) has taken a rebuttal stance following concerns raised in a Phillip Securities research report. The house earlier cited a potential office supply glut in Shanghai as a main threat, highlighting that one million square metres of new office supply is projected to come on-stream for the year and that represents a staggering three times of the average historical annual supply. Though acknowledging the concerns were “legitimate questions to answer”, TCT chief executive Richard David has voiced confidence that further upside in office and retail rental rates are expected on the back of strong demand in China. Drawing reference to a Jones Lang LaSalle report that forecasted Shanghai’s Grade A office rents to grow 21% this year, David remarked the projection is achievable and the trust is upbeat in maintaining its 10-12% rental price growth. Notably, following a visit to the trust’s assets, SIAS Research noted the strategy of “maximizing investors’ value by seeking out undervalued assets that show promise of significant rental upliftand maintained an “Invest” rating.

OCBC’s Unit Sets Eyes On High Net-Worth Chinese
Oversea-Chinese Banking Corp (OCBC Bank)’s private banking unit Bank of Singapore (BOS) plans to start operating under OCBC China by the end of the third quarter to tap the growing number of wealthy Chinese. Growth is on the agenda. BOS said its earning asset base, comprising assets under management and loans to clients, has gone up by US$4.3b to US$36.3b in the first five months of the year. This represents an annualised growth rate of over 30%. A client would need investible assets of at least US$1m to open an account with BOS. There are no details on how much net new asset growth was, though BOS chief executive Renato de Guzman said that it was also ‘very strong’. New clients have come from various markets, he added. The aforesaid move allows BOS to tap into the fast-growing number of wealthy Chinese as renminbi appreciation and the exports slowing down, more high net worth Chinese are looking for overseas investment opportunities to diversify risks and enhance returns.

Anwell Bags Rmb500m Long-Term Funds For Second Solar Panel Plant
Anwell Technologies’s Dongguan Sungen has secured long-term funding arrangement of Rmb500m from the Municipal Government of Dongguan for the set-up of the Group’s second thin film solar panel production plant, which is based in Dongguan. With a target to start production in 2012, the new plant will be producing Anwell’s latest proprietary products including tandem junction and advanced multi-junction thin film solar panels. Besides this Rmb500m support for the first phase of the production plant, Anwell is engaging in further discussions with the Dongguan Government for a second round of funding support. This long term funding will allow Anwell to increase its solar panel capacity to meet the increasing global demand for thin film solar panels. Meanwhile, Anwell aims to achieve 1.5 gigawatt annual production capacity within 5 years, with the continuing support from the Government.

Biosensors Aims For Larger Market Share
Biosensors chairman Lu Yoh Chie announced that his company aims to increase its market share in China as a rival firm has left the scene. The Chinese market alone for Drug Eluting Stents (DES) is estimated to be worth about US$1b by 2014. The Chinese DES market is expected to grow as the government has introduced subsidies for such treatments as well as greater demand from an ageing population. Its rival, Johnson & Johnson, bowed out of the scene due to issues regarding product safety and intense competition from other manufacturers. The company also seeks to increase market share in Japan and expects to be able to secure 20% of the market share.

Jade manages and oversees a portfolio of stocks which are mainly focused on the mining and property sectors at Shares Investment.

Please click here for more information about this author.

Oversea-Chinese Banking Corp  10.850 -0.01 -0.09%   
Business: [FY18 Turnover] Global corporate/investment banking (35%), global consumer/private banking (34.8%), OCBC Wing Hang (11.5%), insurance (11%), global treasury & mkts (7.7%).

Insight: May-19, 1Q19 total income rose 14.7% driven by str... Read More

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