Daily Briefing: OCBC, Sembcorp Marine buy back their shares; Singapore's rail woes unlikely to throw off expats
And here's why Noble's falling stock is unlikely a bargain.
From The Motley Fool:
Oversea-Chinese Banking Corporation (OCBC), the second largest financial services group in Southeast Asia by assets recently repurchased 400,000 shares at a price range between $11.70 and $11.74 apiece. The total cost was around S$4.7 million.
Shares of OCBC closed at $11.55 yesterday, giving a price-to-book ratio of 1.3 and a dividend yield of 3.1%.
Read more here.
From Bloomberg Finance:
Singapore’s recent public transportation woes are unlikely to dent the city’s standing as a desirable haven for expatriates, according to Sebastien Deschamps, chief executive officer and founder of ExpatFinder.com.
The island nation, known for its sleek infrastructure and forward thinking, is reeling after another incident on its Mass Rapid Transit, where a collision between two trains Wednesday morning injured at least 29 people. The local shock from the accident -- particularly after breakdowns and increasing furor over inefficiencies in transport in recent years -- is unlikely to significantly harm the views of outsiders, Deschamps said in a phone interview.
Read more here.
From The Motley Fool:
Commodities trader Noble Group Ltd (SGX: CGP) has been a sorry sight in the stock market for a long time.
Over the past five years, its stock price has essentially been moving in one direction – down. The decline has also been fierce, so much so that today’s price of S$0.21 represents a fall of 98% from five years ago. Given the precipitous decline, would Noble be a bargain at the current price?
There is no easy answer, but we may be able to find some clues from an investing checklist that the legendary investor Peter Lynch shared in his book One Up On Wall Street.
Read more here.
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