Market Snapshot
Singapore stocks opened lower on Thursday. NIO rose 6%; SATS rose 5%, Wilmar fell 9%.
Stocks in Focus
Keppel: It said on Tuesday that the Indonesian High Court upheld an earlier dismissal of an individual’s 2.28 trillion rupiah (S$186.3 million) claim over Jakarta land owned by its subsidiary. After the South Jakarta District Court on Feb 9 dismissed the individual’s claim over the disputed land, he submitted an appeal against the decision. Keppel shares closed 2.1 per cent or S$0.23 lower at S$10.84 before the news.
IHH: The integrated healthcare operator on Tuesday reported a 3 per cent year-on-year rise in net profit to RM528 million (S$170.1 million) for its first quarter ended Mar 31. Revenue came in at RM6.6 billion, up 4 per cent on the year. The group attributed this to “sustained demand for quality healthcare services, a case mix of more acute patients and price adjustments to counter inflation”. Shares of IHH Healthcare closed flat at S$2.91 before the results were announced.
Koh Eco: The Catalist-listed engineering solutions provider has proposed a transfer to the mainboard of the Singapore Exchange, it announced on Wednesday. The board said listing on the mainboard will enhance the long-term value for the company’s shareholders. The counter closed at S$0.132 on Tuesday, down S$0.003 or 2.2 per cent.
SG Local News
Singapore's Bank of Singapore Intensifies Recruitment Drive for Wealth Management Expansion
Bank of Singapore Ltd. is significantly increasing its recruitment efforts as it intensifies its strategy to attract ultra-high-net-worth clients throughout Asia. The private banking arm of Oversea-Chinese Banking Corp. has restarted hiring "quite aggressively" this year. This follows a pause to integrate a substantial number of new staff hired during 2024, according to Chief Executive Officer Jason Moo.
This recruitment push aligns with the bank's goal to boost the share of assets under management from ultra-high-net-worth clients by 30% by 2028. Moo also noted that the bank has already achieved its target of employing 500 relationship managers by the end of 2025.
TTS Group: Offering ‘total traffic solutions’ for cities around Asia
If it takes the same effort to serve a US$100 million client as a US$10 million one, then why not go bigger?
That blunt calculation is shaping the next phase of growth at Bank of Singapore (BOS), where chief executive officer Jason Moo is sharpening the private bank’s focus on ultra-high-net-worth (UHNW) clients – even as rivals across Asia compete for the same wealthy families.
The push is backed by aggressive hiring, bespoke investment capabilities and closer integration with parent OCBC’s broader “whole-of-wealth” ecosystem, as BOS seeks to position itself as a “house bank” for Asia’s richest clients.
Comments