Net Worth Update Nov 2024 | Stagnant at SGD 1.72m

My net worth stagnates at S$1.72 million in November 2024 despite savings from salary, CPF contributions and dividends collected. The gains in S-Reits over the past weeks have been wiped out by the inflationary fears and sustained high interest rate environment arising from Donald Trump's success at the US presidential election

Net Worth Breakdown:

Safe Heavens (62%)

CPF (36%): As the major constituent of my wealth, it is the foundation of my retirement savings. Attaining Full Retirement Sum FRS in 2022 was a significant milestone.

Cash and war chest (16%): My liquid assets are strategically invested in fixed deposits and Fullerton cash funds, earning around 2.8% p.a. This provides a cushion for unexpected expenses while generating steady returns.

Bonds (10%): A balanced portfolio of low-risk Singapore Savings Bonds and Astrea Bond ensures stability. I have maxed out my SSB individual limit of $200k in Aug, right before the yield of SSB falls below 3%.

Retirement Savings (13%)

SRS (8%): This provides an additional layer of retirement savings. Annual individual limit of $15.3k is maxed out.. My SRS funds are currently deployed into $30k of SSB and 6 local stocks - Comfortdelgro, DBS, OCBC, Keppel DC Reit, Keppel Reit and Wilmar.

Insurance (5%): I also own Prudential whole life insurance plan and other savings plans which in total, could provide me with 6-digit lump sum payout after my retirement age.

Income and Growth Assets (24%)

Stocks and Reits (24%): These riskier financial assets are volatile but generates passive income and caters for potential growth, with a focus on long-term compounding growth through dividend investing.

A Balanced Ascent: The Art of Financial Wellness

The pursuit of this financial journey is like a long winding hike. It is a steady climb, filled with challenges and rewards. Just like a hiker, I had to navigate steep inclines, traverse rocky terrains, and endure occasional storms. These challenges have included market volatility, unexpected expenses, and the constant temptation of instant gratification. Yet, with each step, I have grown stronger, more resilient, and more determined.

While reaching the summit of financial freedom is the ultimate goal, it is equally important to appreciate the journey. Just as a seasoned hiker pausing to admire the scenary, breathe in the fresh air, so too should I take time to savour the progress. In the same way, taking a step back from relentless financial pursuit can provide much-needed respite and rejuvenation. I have decided to slow down my pace towards financial freedom by spending more on experiences and bucket list items that could enhance my quality of life and overall happiness.

Ultimately, financial success is not solely about accumulating wealth and growing net worth. It is about achieving a state of financial wellness. By striking a balance between ambition and enjoyment, we can build a life that is both prosperous and fulfilling.

Thank you for reading!

With love & peace,

Qiongster

Why DBS is cheap at $42.40?

 

DBS Bank (SGX: D05), the safest bank in Asia, South East Asia's most profitable bank, has consistently demonstrated exceptional financial performance, navigating global uncertainties and economic challenges with aplomb, underpinned by a robust business model. Named as the world's best bank multiple times over the past decade, DBS achieved a record high quarterly profit of more than SGD 3 billion in Q3 2025, sending its share price rocketing by more than 8% to close at $42.40 this week. 

After hitting all-time high, there is still an intriguing question: Currently, is DBS over, fairly or undervalued, presenting a compelling investment opportunity?

Strong Financial Foundation and Resilience

DBS Bank, a leading financial institution in Southeast Asia, boasts a strong financial foundation that underpins its resilience and growth. The bank maintains a robust capital adequacy ratio, well above regulatory requirements, ensuring its stability and ability to withstand potential shocks. Additionally, DBS has consistently demonstrated exceptional asset quality, with a low non-performing loan (NPL) ratio of 1%, reflecting prudent risk management practices and a high-quality loan portfolio.

The bank's diversified business model, spanning across multiple geographies and product lines, further enhances its resilience. DBS's presence in key Asian markets, including Singapore, Hong Kong, Taiwan, Indonesia, India and China, provides a balanced exposure to diverse economic cycles. This geographic diversification mitigates risks and supports sustainable growth.

Earnings Growth and a Dividend Powerhouse

DBS Bank has a proven track record of delivering consistent and steady earnings growth, driven by its strong market position, disciplined cost management, and strategic investments. The bank's ability to generate sustainable profits positions it favorably for future growth and shareholder returns.

In recent years, DBS has consistently reported strong financial results, driven by its core banking operations, wealth management, and investment banking segments. The bank's focus on digital transformation and regional expansion has further fueled its growth trajectory.

Moreover, DBS has a strong commitment to rewarding its shareholders through regular quarterly dividends. The bank's dividend payout ratio is typically prudent, ensuring a sustainable dividend policy while preserving capital for reinvestment and growth initiatives. This combination of earnings growth and dividend income makes DBS an attractive investment for both income-seeking and growth-oriented investors.

DBS has a history of increasing its dividend payouts over time, reflecting its strong financial performance and commitment to shareholder value. This makes it an attractive investment for those seeking a reliable and growing income stream.

DBS quarterly dividend was raised to 54 cents per share, up from 48 cents per share a year ago, reflecting the bank's commitment to returning value to shareholders while maintaining a healthy payout ratio of less than 55%. Assuming DBS can maintain its $2.16 annual dividends, its yield is easily slightly more than 5% at current price of $42.40, which is rather attractive as yields of lower risk financial instruments are expected to fall in the short-term.

Robust Capital Position

DBS Bank's robust capital position is a cornerstone of its financial strength, ensuring its resilience and ability to weather economic cycles. The bank maintains a strong Common Equity Tier 1 (CET1) ratio of 17.2%, well above regulatory requirements and comparable to global financial institutions. This strong capital base, coupled with a low non-performing loan (NPL) ratio of 1%, reflects effective risk management and sound asset quality.

DBS's proactive approach to capital management ensures that it is not merely hoarding capital but strategically deploying it to drive growth and enhance shareholder value. The bank has announced an SGD 3 billion share buyback programme in the next few years to buy back shares in the open market, cancel them, in a bid to lower their excess capital and increase earnings per share and return on equity, reducing their CET1 ratio by 0.8%.

There were recoveries from the oil and gas provisions that were made some years ago as well as in assets related to the money laundering case in Singapore. DBS also managed to monetise or refinance some Hong Kong and China property assets that were classified as NPL earlier in the year.

This combination of strong capital ratios, effective risk management, and a strategic approach to capital deployment reinforces investor confidence in DBS as a stable and income producing investment machine.

Potential Expansion

DBS is actively exploring strategic expansion opportunities in Malaysia according to numerous sources. DBS’ planned foray into Malaysia comes amid improving economic prospects for the South-east Asian nation, with new infrastructure projects and investments expected to result in a surge in credit growth. DBS is the only Singapore bank without a retail banking presence in Malaysia as counterparts OCBC Bank and UOB both have retail banking operations in Malaysia.

In addition to potential acquisitions of stakes in Malaysian banks, such as Alliance Bank Malaysia and Kuwait Finance House's Malaysian retail banking assets, rumors have emerged about DBS's interest in acquiring NTUC Income Insurance after the failed acquisition by Allianz. While these are merely speculations at this stage, such moves could significantly enhance DBS's presence in the retail banking of neighbouring country, insurance market and provide additional inorganic growth opportunities to strengthen its regional footprint and capitalize on the growing economic opportunities in Southeast Asia.

Fair valuation

As of Q3 2024, DBS's book value per share is reported at S$22.81. With the current share price of S$42.40, this results in a price-to-book (P/B) ratio of about 1.86. This indicates that DBS is trading at a  premium to its book value, which is reflective of strong profitable bank's potential. JP Morgan's P/B ratio is 2.07, Bank of America's P/B ratio is 1.28 while Bank of China's P/B ratio is merely 0.39.

According to Gurufocus, DBS's intrinsic value projected based on future free cash flows is $65.99. According to value investing.io, the intrinsic value is lower at $56.52. By Alphaspread standards, the intrinsic value is slightly lower at $52.58. Simplywall.st generously valuates DBS's fair value at a whopping $80.64!

In terms of target prices, the analysts from brokerages have expressed positive views on DBS's prospects, citing its strong fundamentals, attractive valuation, growth potential and projected a range from $37.30 by CGSI Research, $ 38.50 by Phillips Securities, $43.60 by OCBC Investment, $44,70 by RHB Invest, $46.91 by Maybank Research, to $46.95 by UOB Kay Hian in the next 12 months.

Logically if the dividend yield of DBS is compressed to 4% as more investors shift their cash from declining yields of Fixed Deposit, T-Bill and money market funds into bank equities, the share price of DBS is $54! Personally, I believe there is still headroom for DBS share price to soar higher.

Will I buy more DBS shares at $42.40?

As DBS's growth strategy is predicated on Asia's megatrends, including the rising middle class, growing intra-regional trade, urbanisation, and the rapid adoption of technology that is fuelling new innovations. the bank seeks intermediate trade and capital flows as well as support wealth creation in Asia. The bank is strategically and well positioned for future opportunities in a rapidly evolving financial landscape. Their commitment to enhance shareholder value through share buyback, increasing dividends and potential acquisition of Malaysian banks reflects a pragmatic approach that could yield significant returns in the long run.

Buying DBS shares at $42.40 offers exposure to a well-capitalized bank with strong earnings potential but also aligns with a strategic vision that prioritizes long-term growth and stability in an increasingly competitive market. If I had spare war chest or extra funds lying idle, I would invest half of it to reap the 5% yield while dollar-cost average into DBS over the next few years.

Additionally, several potential catalysts could further drive DBS's stock price in the coming months and years. These catalysts include Donald Trump's looser capital and inflationary policies, continued economic recovery in Asia, favorable regulatory developments, and successful execution of the bank's expansion push.

While no investment is without risk. DBS's strong fundamentals, attractive valuation, and growth prospects make it a compelling investment opportunity. The bank's resilience, diversified business model, and track record of delivering shareholder value position it favorably for long-term success.

I currently own 1,300 shares of DBS in my SGX and SRS account and is keen to increase my investment in DBS. However, my frugal instincts and technical analysis will influence me to be patient, hold out for a healthy retracement and place an order slightly near the 100 days MA support at $37.30 or 200 days MA at $35 instead.

Investors seeking strong income stocks with strong visibility in earnings potential and a history of rewarding shareholders could consider DBS as a potential addition to their portfolios. However, it is essential to conduct thorough due diligence and consider individual risk tolerance before making any investment decisions.

On the back of macroeconomic factors such as economic recession fears, global political landscape uncertainties and interest rate noises, as DBS stock price is the top constituent of Singapore's Straits Times Index, it may be very volatile. At above $42, the margin of safety is much lower compared to if we were to invest in DBS earlier in the past few months to past years when its stock prices hover between $20 to $30. As we have witnessed several times in the past, DBS share price could plunge or tank heavily by more than $2 or 5% a day whenever noise or bad news hit due to macroeconomic factors or global uncertainties, incurring huge losses or even margin calls if our purchases are on margin or borrowed funds.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.

Thank you for reading.

With love & peace,

Qiongster

Test My Luck on T-Bill (BS24122E) using SRS funds

 

After the past 2 unsuccessful bids with T-Bills, I still have more than $25k of idle funds lying in SRS account earning a meagre 0.05% in the current high interest rate environment.

Great opportunity costs incurred from waiting on the sidelines to add investment for local banks such as OCBC or DBS shares into my ultra long-term SRS portfolio.

The share prices of local banks display no sign of weakening in the short-term hence I decided to deploy the idle SRS funds into Treasury Bills.

As the latest tranche of T-Bill will close on 11 Nov 2024, 9pm today, I decided to try my luck to auction for this tranche of T-Bill, a short-term government debt security with 6 months tenor, fully backed by the Singapore government and having an AAA credit rating.

The issue date is on 12 Nov 2024 and maturity date is on 13 May 2025. Results will be out on 7 Nov 2024, 1pm.

There it goes.

There is no admin fee for internet banking applications unlike SSB.

Again, I am trying my luck with a competitive bid of 3.18% p.a. with a pinch of salt as I believe this round of application may have a cutoff below 3%. Thus, I am prepared for a failed application, getting back my funds to continue waiting on the sidelines.

Thanks for reading!

With love & peace,

Qiongster

How I spent my NS $200 credits on LifeSG?

I received my $200 NS credits on the LifeSG app yesterday.

2 years ago, I spent my $100 NS credits by paying off my credit card bill on the AXS e-station website.

I intended to do the same again until I saw social media posts that a better way than en-cashing the credits via Sheng Siong ATM which will incur 20 cents fee, is via topping up the YouTrip account and withdrawing from app back to our bank account at no transaction cost at all.

I quickly decided to take action before YouTrip or the government takes action to nerf such practice which defeats the purpose of stimulating the economy via social benefits.

I quickly launched my YouTrip app to top up $200 and generate a QR code.

I then logged in to LifeSG app via SingPass and uploaded the YouTrip QR code to pay.

The transaction was successful and seamless.

The $200 top up is reflected instantly in my YouTrip app.

I then proceeded to withdraw to my bank via Paynow to my phone number.

The $200 NS credits rest safely in my bank now. The entire process took less than 3 mins.

I decided to top up the Moomoo Fullerton SGD Liquidity Fund to earn 2.8% p.a. yield payable daily.

This is how I utilised my $200 NS credits.

Thank you for reading.

With love & peace,

Qiongster

The Ancient Secret to Wealth

 

Marcus Aurelius, a Roman emperor and Stoic philosopher, penned his personal reflections in a work titled "Meditations." These musings offer profound insights into the nature of life, morality, and the pursuit of happiness. In this article, we will explore Aurelius' thoughts on money, possessions, and the true meaning of wealth, drawing upon specific passages from his Meditations to illustrate his points.

The Impermanence of Material Possessions

Aurelius frequently pondered the fleeting nature of material possessions. He recognized that wealth and possessions are subject to change and loss. In one passage, he writes, "Think of the lives of those who have been most praised, and then consider the circumstances of their deaths. Was there anything remarkable about their possessions?" This reflection reminds us that material wealth is ultimately insignificant compared to the enduring qualities of character and wisdom.

Aurelius also emphasized the importance of detachment from material possessions. He wrote, "Everything is fleeting. Consider the nature of things, their origin, their decay, their eternal change. Consider the elements of which they are composed, and the void from which they came." By understanding the impermanence of all things, we can cultivate a sense of detachment and avoid becoming overly attached to material possessions.

The Pursuit of Inner Peace

Aurelius believed that true happiness and fulfillment are not found in external circumstances or material possessions, but rather in the cultivation of inner peace and virtue. He emphasized the importance of living in harmony with oneself and with the natural world. By focusing on developing his character and cultivating a sense of gratitude, Aurelius sought to find meaning and purpose in life that transcended the pursuit of wealth.

In his Meditations, Aurelius frequently reflected on the power of gratitude. He wrote, "Be grateful for everything, and be constantly aware of all the blessings you have." By cultivating gratitude, we can shift our focus from what we lack to what we have, fostering a sense of contentment and well-being.

The Dangers of Greed and Avarice

Aurelius warned against the dangers of greed and avarice. He observed that the pursuit of wealth can lead to anxiety, envy, and a loss of perspective. In one passage, he writes, "Wealth is not a virtue, but a tool. It can be used for good or for evil." Aurelius urged his readers to use their resources wisely and to avoid becoming enslaved to material possessions.

Aurelius also cautioned against the dangers of envy. He wrote, "Envy is a painful passion, and it is also a sign of weakness. It is a confession that you think others are happier than you." By recognizing the destructive nature of envy, we can cultivate a more positive and compassionate attitude towards others.

Conclusion

Marcus Aurelius' Meditations offer timeless wisdom on the nature of wealth and the pursuit of happiness. By recognizing the impermanence of material possessions, cultivating inner peace, and avoiding the pitfalls of greed and envy, we can find true fulfillment and meaning in life. Aurelius' reflections serve as a powerful reminder that lasting happiness is not found in external circumstances, but rather in the development of character and the pursuit of wisdom.

Thanks for reading.

With love & peace,

Qiongster

Portfolio Update October 2024

Happy Diwali! On the last day of October 2024, time to review my investment portfolios.

With the world grappling with geopolitical tensions, economic uncertainties and as the US presidential election looms, my investment portfolios have experienced some retracement. This serves as a reminder of the risks and volatility associated with investing and the importance of adopting a long-term perspective.

My SGX Income Portfolio value has declined to $386k from $399k because local S-Reits experienced harsh reality checks from their recent results announcement, reflecting the impact from from the past years of high interest rates resulting in higher borrowing costs and erosion of net property income and dividend payouts.

My US/HK Growth Portfolio has also seen a positive performance, rising to US$19k from US$18.8k.

My SRS Ultra Long-Term Portfolio value has stagnated at $183k.

Market Outlook 

The US stock market has continued its upward trajectory in a healthy bull run on the back of looming presidential election and higher certainty of a lower interest rate environment in the coming future. Nonetheless, there will still be immense volatility from the occasional noises and fears attributable to ongoing geopolitical conflicts, and concerns about a potential economic recession. Despite these challenges, I believe that long-term investors should remain calm and focused on our investment objectives.

Investment Strategy 

My investment strategy remains unchanged. I continue to prioritize high-quality income-producing instruments, such as government-backed risk-free bonds, property related assets, and strong profitable growth businesses. I am on the sidelines camping for local banks and US growth tech stocks. By carefully diversifying my portfolio and remaining disciplined, I aim to weather any market storms and achieve my long-term financial goals.

Portfolio Actions

1. Added 2,000 shares of CICT at $2.007 through preferential offer on 2 Oct.

Portfolio Dividends

1. Received $147.50 of dividends from Savings Bonds in SRS on 1 Oct.

2. Received $303.00 of dividends from Savings Bonds on 1 Oct.

3. Received $399.72 of dividends from Capitaland Integrated Commercial Trust on 17 Oct.

SGX Income Portfolio

Portfolio Value = $386k

US/HK Growth Portfolio

Moomoo

US$4.7k

Tiger Broker

US$13.2k

Syfe Trade

US$1.1k

Portfolio Value = US$18.8k

SRS Ultra Long-Term Portfolio

Portfolio Value = S$183k

Thanks for reading.

With love and peace, 

Qiongster

Is OCBC cheap at $15.32?

 

Over the past decades, OCBC Bank (OCBC SGX:O39) has demonstrated remarkable resilience and financial strength, navigating economic challenges with aplomb. Despite its robust performance, the stock's valuation has remained relatively subdued compared to its peers and historical averages. Even after hitting all-time high at above $15.40, there is still an intriguing question: Is OCBC currently over, fairly or undervalued, presenting a compelling investment opportunity?

Fundamental Strength and Resilience

OCBC's strong financial foundation is a cornerstone of its investment appeal. The bank boasts a healthy capital adequacy ratio, well above regulatory requirements, ensuring its stability and ability to absorb potential shocks. Moreover, OCBC has consistently maintained a low non-performing loan (NPL) ratio of 1%, reflecting prudent risk management practices and a high-quality loan portfolio.

The bank's diversified business model, spanning across multiple geographies and product lines, further enhances its resilience. OCBC's presence in key Asian markets, including Singapore, Malaysia, Indonesia, and Greater China, provides a balanced exposure to diverse economic cycles. This geographic diversification mitigates risks and supports sustainable growth.

Earnings Growth and Dividend Prospects

OCBC has a history of delivering consistent and steady earnings growth, driven by its strong market position, disciplined cost management, and strategic investments. The bank's ability to generate sustainable profits positions it favorably for future growth and shareholder returns.

OCBC reported a record net profit of S$3.93 billion for the first half of 2024, marking a 9% increase year-on-year, driven by significant income growth across its banking and wealth management sectors.

Moreover, OCBC has a track record of rewarding shareholders through regular dividends. The bank's dividend payout ratio is typically prudent, ensuring a sustainable dividend policy while preserving capital for reinvestment and growth initiatives. This combination of earnings growth and dividend income makes OCBC an attractive investment for both income-seeking and growth-oriented investors.

The interim dividend was raised by 10% to 44 cents per share, reflecting the bank's commitment to returning value to shareholders while maintaining a healthy payout ratio of 50%. Assuming OCBC can maintain its 88 cents annual dividends, its yield is easily more than 5.5% at current price of $15.32, which is very attractive as yields of lower risk financial instruments fall.

Robust Capital Position

OCBC's robust capital position is a key pillar of its financial strength, highlighted by a Common Equity Tier 1 (CET1) ratio of 15.5%, significantly above regulatory requirements and higher than its peers higher than its peers, such as DBS at 14.7% and UOB at 13.4% as of Q1 FY2024. This strong capital base, along with a total capital adequacy ratio of 17.9% and a low non-performing loan (NPL) ratio of 1%, reflects effective risk management and sound asset quality. Such resilience allows OCBC to absorb potential losses while pursuing strategic growth initiatives, including its recent acquisition of Great Eastern Holdings.

Moreover, OCBC's proactive approach to capital management ensures that it is not merely hoarding capital but strategically deploying it where it can generate the most value. With a solid liquidity coverage ratio and a focus on acquiring stable deposits, OCBC is well-positioned to navigate market challenges and capitalize on emerging opportunities in the financial sector. This combination of strong capital ratios and effective risk management reinforces investor confidence in OCBC as a stable and growth-oriented investment.

Strategic Acquisition of Great Eastern

OCBC has made a significant $1.4 billion bid to take Great Eastern private, acquiring the remaining 11.56% stake it does not already own. This offer, priced at S$25.60 per share, represents a 36.9% premium over the last traded price prior to the announcement. The acquisition aligns with OCBC's long-term strategy to strengthen its wealth management and insurance sectors, which are crucial in a region experiencing rising demand for financial products.

The acquisition is expected to be earnings accretive for OCBC, allowing the bank to optimize its capital and enhance shareholder returns. By consolidating its insurance operations under one umbrella, OCBC can improve operational efficiencies and better serve its customer base through integrated financial solutions.

Unlocked Value

OCBC Bank has strategically cultivated a substantial real estate portfolio, comprising a diverse range of properties, including prime shophouses in Singapore. These properties serve as valuable assets that contribute to the bank's overall financial strength and stability.

OCBC's shophouses are often located in highly desirable and prime areas of Singapore, such as the Central Business District (CBD) and Orchard Road. These prime locations benefit from high foot traffic, strong rental demand, and robust property appreciation potential.

OCBC's real estate portfolio generates a steady stream of rental income, contributing to the bank's recurring revenue and supporting its operations. As property values appreciate over time, OCBC's real estate holdings become more valuable, enhancing the bank's overall financial strength and providing a buffer against potential losses in other areas of its business. OCBC's real estate assets can also serve as collateral for loans and other financial obligations, providing additional security and reducing the bank's risk exposure.

What is important to note is that OCBC Bank, like many financial institutions, records its assets, including many of their real estate portfolio at cost. This means that the initial purchase price or fair value at acquisition is the basis for recording the asset on the bank's balance sheet. This means that their actual asset value is understated conservatively. Should one day OCBC decides to listing their properties as OCBC Reits, the hidden value will be unlocked!

Healthy valuation

As of June 2024, OCBC's book value per share is reported at S$12.66. With the current share price of approximately S$15.30, this results in a price-to-book (P/B) ratio of about 1.2. This indicates that OCBC is trading at a slight premium to its book value, which is typical for established banks that possess strong earnings potential.

According to Gurufocus, OCBC's intrinsic value projected based on future free cash flows is $15.45. According to value investing.io, the intrinsic value is much higher at $19.10. By Alphaspread standards, the intrinsic value is even higher at $20.36. Simplywall.st generously valuates OCBC's fair value at a whopping $39.19, on par with DBS current share price.

In terms of target prices, the analysts from brokerages have expressed positive views on OCBC's prospects, citing its strong fundamentals, attractive valuation, growth potential and projected a range from $14.90 by DBS Research, $15.40 by Maybank Securities, $16.70 by CGSI Research, $17.01 by Maybank Research, to $19.40 by UOB Kay Hian in the next 12 months.

Logically if the dividend yield of OCBC is compressed to 4% as more investors shift their cash from declining Fixed Deposit, T-Bill and money market funds into bank equities, the share price of OCBC is $22! Personally, I believe there is still plenty of headroom for OCBC share price to soar higher.

Will I buy more OCBC shares at $15.32?

As OCBC focuses on sustainable growth rather than short-term dividends, the bank is strategically and well positioned for future opportunities in a rapidly evolving financial landscape. The bank’s commitment to enhancing its wealth management capabilities through the Great Eastern acquisition reflects a forward-thinking approach that could yield significant returns in the long run.

Buying OCBC shares at $15.32 not only offers exposure to a well-capitalized bank with strong earnings potential but also aligns with a strategic vision that prioritizes long-term growth and stability in an increasingly competitive market.

Additionally, several potential catalysts could further drive OCBC's stock price in the coming months and years. These catalysts include continued economic recovery in China, Hong Kong and Asia, favorable regulatory developments, and successful execution of the bank's strategic initiatives.

While no investment is without risk. OCBC's strong fundamentals, attractive valuation, and growth prospects make it a compelling investment opportunity. The bank's resilience, diversified business model, and track record of delivering shareholder value position it favorably for long-term success.

I currently own 5,000 shares of OCBC in my SRS account at a net cost of only $8.32 after lessing off the past dividends collected. As my recent T-Bill applications were unsuccessful, I am seriously contemplating buying more OCBC shares at current prices but my bargain instincts and technical analysis will influence me to place an order slightly near the 100 MA support at $14.80 to slightly below $15 instead.

OCBC will be announcing its Q3 2024 financial results on 8 Nov morning. I think the results will be positive but I hope the results will be below expectation so that their share price will correct for us investors to buy at lower costs.

Investors seeking undervalued stocks with strong growth potential and a history of rewarding shareholders could consider OCBC as a potential addition to their portfolios. However, it is essential to conduct thorough due diligence and consider individual risk tolerance before making any investment decisions.

On the back of macroeconomic factors such as economic recession fears, global political landscape uncertainties and interest rate noises, the share price of OCBC may be very volatile, correct healthily or tank any time as we have witnessed in the past.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.

Thank you for reading.

With love & peace,

Qiongster