Thursday, 16 February 2023

OCBC Debacle

Over the last few years I have been building up reserves and now the cash pile of 30k was making me nervous.

My sight has been set on increasing OCBC now but after a dip during the start of the Ukraine war the price has been climbing.

With the full year result out  next week though, I could no longer wait. What more with DBS announcing record profits, and a bonus dividend!

I queued for 12.90 for a few days but no luck. Then I started queing at 12.88 and on the second day the price dropped to 12.76. 

Although surprised at the drop I was happy to pick up another 2 lots and now that my OCBC has surpassed 100k it felt like a milestone has been reached. Commission was 81.49.

I wanted to settle the payment immediately for months now the cash pile was making me nervous but unfortunately a problem occurs. Due to many years on inactivity my online banking now has an issue with OTP. After multiple emails, an unanswered hotline call and finally two calls both from the bank and the broker I was told there was no way around it unless i visit a bank, or send a snail mail.

In the end i had to fire sale it at 13.00 Commission was 82.25, so that brought in a meaningless contra gain of 76.26.

So dissappointed to see my portfolio back at 5800 shares. Not sure when i could pick it up again at a good price. A good year-end result next week and a bonus dividend or shares would definitely drive me crazy. 😭


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