“The lender had a market capitalisation of S$62.97 billion as of Thursday (Nov 24)’s close, compared with Singtel’s S$60.42 billion. The telecommunications company is expected to face more competition from new Singapore mobile-phone entrant TPG Telecom Ltd.”
and 2 months later…
OCBC overtook SingTel as (Singapore, and probably *South-east Asia’s) 2nd most valuable company in February 2018.
* Caveat about the part on ‘South-east Asia’, since SGX Observer only checks SGX listed stocks, and not sure about stocks listed at other South east Asia countries.
On 27-Feb-2018: Singtel closed at S$3.37, OCBC closed at $13.30, DBS closed at $29.06.
Market Cap = total outstanding shares x last traded share price.
On 27-Feb-2018: Market Cap of Singtel = S$55.03 billion, Market Cap of OCBC = S$55.79 billion, Market Cap of DBS = S$74.51 billion.
Market Capitalisation of DBS increased by more than $11 billion in 3 months
In just 3 months (from $62.97 billion on 24 Nov 2017 to S$74.51 billion on 27 Feb 2018), Market Cap of DBS has grown for more than S$11 billion, or $11,000,000,000 !!
How much is S$11,000,000,000?
Recall during the recent Singapore Budget 2018, our dear Finance Minister had announced “Singapore’s hefty budget surplus of S$9.6 billion in FY2017″, and the S$9.6 billion “worked out to 2.1 per cent of gross domestic product (GDP)”. (see ChannelNewsAsia report)
⇒ DBS’s market cap growth in 3 months is more than the Singapore’s FY2017 surplus of S$9.6 billion 😮 … and more than 2.1% of GDP 😮
What’s more, by giving ALL Singaporean aged 21 and above $100 ~ $300 each, this “SG Bonus” will cost the Government S$700 million (see ChannelNewsAsia report).
⇒ DBS’s market cap growth in 3 months is enough for more than 15 years of “SG Bonus” 😮
So… The Most Valuable SGX Listed Company = DBS ?
Is DBS is the most valuable SGX listed companies now? NO.
According to SGX Stockfacts, the most valuable SGX listed companies is… Prudential Plc !