One of the shares that act as a proxy to the Singaporean economy. One of the fail-safe stocks, they say.
Since i have been thinking of keeping some money in Sing dollars as part of my investment I bought 1 lot today at 9.78.
Things are a little confusing after the acquisition of Wing Hang and the issuance of rights issue to finance that. Nevertheless at the moment the stock is trading at PE of 11x, PB of 1.3 and Divvy of 3.4%. NP margin at 40%, and ROE at 12.2%. Its debt level however seems to be higher than equity, but i am a little confused about this.
A little on the high side but i plan to keep this for a very long time (up to retirement). I plan to pickup more and more should the price drops, subject to funding availability.
For some reason I like this bank and feel rather proud of owning their shares. It is one of the best bank in the world. Hope it will prove to be a good move.
Wanted to queue lower but feared missing out on it. The stock actually closed at 9.75.
Commission charged was SGD 30.81.
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