OCBC warned of painful Wing Hang restructuring
Macquarie draws parallel with DBS acquisition of Dao Heng, saying OCBC faces risk of significant goodwill impairment
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Singapore
OCBC Bank's proposed acquisition of Wing Hang Bank is a replay of DBS's purchase of Dao Heng Bank that took "painful restructuring", says a Macquarie report.
"Watching all of history repeat itself," says the 85-page report, which cautioned against Singapore banks making the same expansion mis-steps as their multi-national peers.
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