【UOB-KayH U10 交流专区】大华继显控股 UOB-KAY HIAN HOLDINGS LIMITED

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公司官网：http://www.uobkayhian.com/

Name of Announcer *	UOB-KAY HIAN HOLDINGS LIMITED
Company Registration No.	200004464C
Announcement submitted on behalf of	UOB-KAY HIAN HOLDINGS LIMITED
Announcement is submitted with respect to *	UOB-KAY HIAN HOLDINGS LIMITED
Announcement is submitted by *	Wee Ee-chao
Designation *	Chairman and Managing Director
Date & Time of Broadcast	13-Aug-2013 17:05:36
Announcement No.	00045

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For the Financial Period Ended *	30-06-2013
Description	Financial Statements and Dividend Announcement for Second Quarter ended 30 June 2013

Attachments

June2013Announcement.pdf

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icy97

Name of Announcer *	UOB-KAY HIAN HOLDINGS LIMITED
Company Registration No.	200004464C
Announcement submitted on behalf of	UOB-KAY HIAN HOLDINGS LIMITED
Announcement is submitted with respect to *	UOB-KAY HIAN HOLDINGS LIMITED
Announcement is submitted by *	Chung Boon Cheow
Designation *	Company Secretary
Date & Time of Broadcast	14-Aug-2013 15:17:26
Announcement No.	00055

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Announcement Title *

Scrip Dividend Scheme

Description

Please refer to attachments.

Attachments

Scrip_Div_Scheme_Announcement.pdf Appendix_1-Scrip_Div_Scheme_Statement.pdf

icy97

UOB, ANZ among bidders for HK's Wing Hang Bank
http://www.theedgesingapore.com/the-daily-edge/business/45898-uob-anz-bidding-for-hks-wing-hang-bank.html

Publish date: Fri, 18 Oct 14:16
UOB and Australia & New Zealand Banking are reported to be bidding for Hong Kong-based Wing Hang Bank.

Wing Hang Bank has 43 branches in Hong Kong, 14 branches in China (the bulk in Guangdong province), and 11 branches in Macau. It is owned by the Fung family (20.3%), Bank of New York Mellon (20.8%) and Aberdeen Asset Management (8.9%). Wing Hang Bank currently trades at HK$113.20 with a P/B of 1.71x and a market capitalisation of US$4.5 billion.

UOB's management reportedly sees reasonable pricing and fit to its existing business as key criterion for mergers & acquisitions. While UOB’s primary focus is on Asean, Greater China is deemed too big to be ignored. We believe UOB is keen to expand its footprint in Greater China through the acquisition of Wing Hang Bank but only if the price is right.

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趁低买入！大华继显可能带来价值
Tradeable | 2014年06月12日
文 : 林思杰（译：伍丽芳）
http://www.sharesinv.com/zh/articles/47514/

1. 营业额减少令大华继显的营运利润和盈利受损
2. 由于利润率保持稳定，并高于业内的平均值，大华继显的股票值得买入
3. 未来几个月也许对大华继显不利，因为市场情况依然艰难

2014年第一季：营业额和盈利下降


大华继显(UOB Kay Hian)的总收入从1亿1,600万元减低18.1%至9,500万元。在这笔总额为9,500万元的收入中，佣金收入占5,630万元(2013年：8,690万元)。

利息收入从1,740万元提高至3,200万元，因为投资活动增多，而由于企业融资活动减少，其他营运收入从1,170万元下降至670万元。

营运利润与开支
由于担心降温措施及区域内的政治情况不明朗，投资者情绪受到了影响。区域市场的交易量十分低。在环境充满挑战下，大华继显仅能录得2,025万元的税前盈利，其2013年第一季的税前盈利为4,350万元。

佣金与人力开支随着经纪费用减少而下降，但由于融资需求增多，融资开支上升。(注：大华继显的1Q13净收入因取得949万元的外汇换算收益而增加。)

基础分析：利润率



大华继显的优点是其利润率持续比业内平均来得高，尤其是其五年平均利润率。

当一家公司的利润率比预期低，它将难以取得盈利。没有一个企业所有人想要听到关于利润率吃紧的问题。引用巴菲特(Warren Buffet)的一句话，买入一家公司的股票有如投资于该公司的业务。从商人的角度来看，我钟意大华继显这只股，因为其利润率稳定及颇高。

展望未来
大华继显预计，投资者情绪将在未来几个月持续疲弱，由于少了任何能刺激投资者兴趣的乐观经济因素。

大华继显指出，交易活动料将因轮动因素或一些事件而受到推动，而不是由于整体市场全面复苏。倘若宏观经济指标改善及一些邻国的政治情况更明朗，使到机构资金流入，市场情况才会转好。

趁低买入
我对大华继显的长期前景感到乐观，因为全球经济出现逐步增长的迹象。随着经济改善，投资者将会寻求取得更大收益。交易员将进行更多交易，大华继显的交易相关收入将因此提高。

然而，这可能在来年或未来几年发生，视乎全球经济的情况而定。我认为，大华继显的短期情景目前看跌依旧使其股价受到拖累。但这可能是长期价值投资者趁低买入的机会。