Oversea-Chinese Banking Corp.’s talks to buy Wing Hang Bank Ltd. are reminding investors of the decade of writedowns DBS Group Holdings Ltd. went through to integrate its purchase of a Hong Kong-based lender.
Oversea-Chinese Banking Corp., Southeast Asia’s second-biggest lender, fell to a more than six- month low in Singapore stock trading amid concern it may pay too much to take over Hong Kong’s Wing Hang Bank Ltd.
The value of equities traded on Singapore Exchange Ltd. sunk to a two-year low last month, threatening to slow the bourse’s earnings growth, as brokerages restricted investments in so-called penny stocks after three commodity companies plunged.
Hong Kong Exchanges & Clearing Ltd., the world’s second-biggest bourse operator by market value, said profit climbed 20 percent last quarter from a year earlier as trading of shares and derivatives jumped.
DBS Group Holdings Ltd., the lender that offered to buy PT Bank Danamon Indonesia for $7.2 billion, posted first-quarter profit that unexpectedly climbed 16 percent to a record on higher income from interest and trading.
DBS Group Holdings Ltd. got approval from Indonesia’s central bank to acquire a $2.75 billion stake in PT Bank Danamon Indonesia, giving Southeast Asia’s largest lender less control than it had sought.