AZALEA Asset Management, an indirect subsidiary of Temasek Holdings, is launching a new series of bonds backed by private equity (PE), of which S$250 million is expected to be open for retail subscription.
RHB on Thursday upgraded OCBC to "buy" from "neutral", with a higher target price (TP) of S$12.50 from S$9.50 previously. At least two other research houses also raised their targets on the counter.
UOB, a strong player in the small- and medium-sized enterprises space, does not see concentrated risks in its loan book, estimating credit costs for the year at 30-40 basis points.
SINGAPORE'S second-largest lender OCBC joined DBS in an improved outlook on asset quality, on the back of an "orderly and very well-managed" exit from Covid-19 relief programmes that is "better than expected", said its top executive on Wednesday.
DBS has partnered with global fashion retailer Inditex, which owns brands such as Zara, Pull&Bear and Bershka, in a cotton-procurement financing programme, in an effort to scale India's organic-cotton industry.
OCBC'S net profit for its fourth quarter fell on a drop in overall income, which more than offset an 11 per cent reduction in expenses, it said on Wednesday.
