The long-term risks faced by OCBC with reduced stakes in Malaysian insurance operations
Michelle Zhu • • 2 min read
SINGAPORE (Sept 26): Maybank Kim Eng is maintaining its “hold” recommendation on OCBC Bank with an unchanged price target of $11.05 pending further details of reduced stakes in the Malaysian business of its 87.9%-owned insurance arm, Great Eastern Hol
Follow us on Facebook and join our Telegram channel for the latest updates.
SINGAPORE (Sept 26): Maybank Kim Eng is maintaining its “hold” recommendation on OCBC Bank with an unchanged price target of $11.05 pending further details of reduced stakes in the Malaysian business of its 87.9%-owned insurance arm, Great Eastern Holdings (GEH).
This comes after GEH last week announced it was assessing its options to sell its minority stake in Great Eastern Life Assurance (Malaysia) to comply with Bank Negara Malaysia’s (BNM) requirement of a minimum 30% domestic ownership in local insurance companies.
Never miss out on important financial news and get daily updates today
×
Download The Edge Singapore App
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
