OCBC should sell Chulia Street properties so assets can be redeveloped to benefit Singapore
Divesting these buildings will also help create shareholder value
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SHAREHOLDERS of OCBC who gather at the annual general meeting on Apr 17 should be generally upbeat.
The bank’s net profit rose 8 per cent from a year ago to S$7.6 billion in 2024. Including the recommended final dividend and special dividend, dividend per share for 2024 will total S$1.01, up 23 per cent from that in 2023.
However, some shareholders may have reservations over how well OCBC, led by group chief executive officer Helen Wong, who took the helm in April 2021, is performing relative to market leader DBS .
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