The Business Times
business-time-50
THE LEVEL GROUND
·
SUBSCRIBERS

OCBC should sell Chulia Street properties so assets can be redeveloped to benefit Singapore

Divesting these buildings will also help create shareholder value

Summarise
google-preferred-sourceAdd BT as a preferred source
Leslie Yee

Leslie Yee

Published Mon, Mar 31, 2025 · 05:18 PM
    • Let a property group create a new landmark by redeveloping the OCBC Centre cluster of buildings.
    • Let a property group create a new landmark by redeveloping the OCBC Centre cluster of buildings. PHOTO: BT FILE

    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 . 

    OCBCBanksOffice Propertyoffice spaceSingapore officesProperty developersThe Level Ground

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    The message was sent with addresses under the carbon copy feature instead of blind carbon copy, meaning that all recipients could see all the other e-mail addresses in the chain. 

    LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More