TOPIC

/ company

United Overseas Bank (UOB)

The latest news, analysis and opinion on United Overseas Bank (UOB). In-depth analysis, industry insights and expert opinion.

Chairman / President

Wee Ee Cheong

Group Chief Risk Officer

Chan Kok Seong

Industry

Banking, Financial Services, Fund & Asset Management

Website

uobgroup.com

Headquarters address

80 Raffles Place, UOB Plaza, Singapore

Year founded

1935

in partnership with:

About

UOB opened its first overseas branch in Hong Kong in 1965. Since then, we strive to help corporate, institutional as well as private banking clients seize opportunities and develop businesses in Asia.

C-Suite Member

Adaline Zheng
Chief Executive Officer

Chin (right) discusses the regional trade outlook with Kevin Huang, COO of SCMP, at the UOB Gateway to Asean Conference in Ho Chi Minh City last week. Photo: Handout

Banking & finance

UOB eyes domination in Southeast Asia’s US$2 trillion trade finance business

UOB has only 1 per cent of the trade financing market in the region, leaving a huge room for the bank to build its dominance.

9 Sep 2024 - 6:00AM

The Philippines

Asean wins as US-China feud reshapes global supply chains, Li & Fung says

6 Sep 2024 - 8:18PMvideocam

Hong Kong Monetary Authority (HKMA)

Explainer | What are the biggest financial scams in Hong Kong? Here’s how to avoid being a victim

22 Aug 2024 - 4:10PMvideocam

Singapore

Singapore banks’ red flags? Guangdong, Fujian, Hong Kong ties, no English skills

Training to spot financial criminals comes as Citi, DBS, others ramp up vetting after a US$2 billion dirty cash scandal rocked city state.

10 Jun 2024 - 3:22PM

Lenders are trying to close loopholes that enabled a group of criminals from China to launder more than US$2.2 billion through at least 16 financial institutions in Singapore. Photo: EPA-EFE

Singapore

Cash, Ferraris, Hermes bags: Singapore looks at how to offload laundered assets

The city state has already spent more than USS$473,600 to maintain the valuables, including bungalows, luxury handbags and premium whiskeys.

8 Jun 2024 - 2:08PM

Singapore

Forget Macau, dirty Chinese cash has a new home: Southeast Asia’s scam hubs

With the junkets of Asia’s gambling capital ‘decimated’ by an anti-corruption crackdown, money launderers have shifted focus to more loosely regulated casinos in Cambodia, Laos, the Philippines and Myanmar.

29 Apr 2024 - 7:39AMvideocam

Hong Kong property

Chinese tycoon Chen Hongtian faces demands from banks on overdue property loans

Chen Hongtian, who had snapped up mansions and offices in Hong Kong and London, faces demands from banks to repay more than US$200 million of overdue loans following the market slump.

22 Apr 2024 - 12:34PMvideocam

No 15 Gough Hill Road on The Peak, bought by Chen for a record HK$2.1 billion in 2016, was seized by Bank of East Asia in March last year. Photo: May Tse

Singapore

Singapore banking dynasty scion buys US$29 million mansion amid property lull

Grace Wee Jingsi, the youngest child of United Overseas Bank Ltd. CEO Wee Ee Cheong, is taking advantage of a lull in the city state’s high-end housing market to buy a ‘good class bungalow’, according to property filings.

3 Apr 2024 - 1:38PM

Art

Art Central, back in its Central harbourfront marquee, puts on a show

Performance art catches the eye at Art Central 2024, from a scarlet dress visitors crawl under to make their own art, to a multisensory dance involving chocolate. Galeries with art to sell are back in force too.

27 Mar 2024 - 6:27PM

Singapore

CEO of Singapore’s biggest bank takes US$3 million pay cut over service outage

Gupta’s compensation took a 30 per cent hit due to last year’s disruptions that affected payment and ATM transactions across the city state.

7 Feb 2024 - 1:15PM

Piyush Gupta, chief executive officer of DBS Group. Photo: SCMP

Singapore

Singapore banking tycoon and former UOB boss Wee Cho Yaw dies at 95

The visionary banker, one of Southeast Asia’s most successful businessmen, helmed UOB Group for more than 60 years.

3 Feb 2024 - 5:46PM

Banking tycoon Wee Cho Yaw helmed UOB Group for more than 60 years before he retired from the board in 2018. Photo: The Straits Times

Millionaires and billionaires

Who are the 10 richest billionaires in Singapore? Net worths, ranked

Haidilao founder Zhang Yong and fan of Tesla’s Elon Musk, Leo Koguan, all make the list – but which famous tech founder is the richest in the Lion City?

30 Jan 2024 - 12:38PM

Banking & finance

Singapore’s InnoVen eyes China’s tech start-ups after US$130m fundraising

Singapore’s InnoVen Capital Group completes a US$130 million first close for its second China fund, as it eyes financing China’s fund-starved start-ups.

26 Jan 2024 - 2:24PM

Banking & finance

Taiwan’s China bonds ETF sees assets under management dive over 94%

Taiwan’s economic and financial decoupling from China has deepened with the near-collapse of what was once the world’s largest Chinese bond exchange-traded fund market.

6 Dec 2023 - 11:32AM

Shoppers and sunset gazers emerge in the tourist zone of Danshui, Taiwan, on August 7, 2023. Photo: Ralph Jennings

Singapore

Massive laundering case reveals dark side of Singapore’s bid to lure super-rich

The surprise sting operation is prompting a rethink of the recent surge of foreign investors, amid signs dirty money is joining legitimate businesses in the rush to Singapore, with cash winding up at global lenders.

4 Dec 2023 - 3:01PMvideocam

For the booming financial hub of Singapore, keeping borders open to attract the super-rich while having enough controls in place to detect tainted funds is all a delicate balancing act. Photo: Shutterstock

Business of climate change

Hong Kong’s first green loan for logistics sector is worth US$1.1 billion

Hong Kong property firms ESR Group and Chinachem have secured the city’s first green loan for the logistics sector, worth HK$8.8 billion, for the development of a cold storage facility in Kwai Chung with a range of sustainable design features.

10 Nov 2023 - 3:50PM

Singapore

Singapore to scrutinise Credit Suisse amid massive money laundering probe

The Swiss lender is among the banks that the Monetary Authority of Singapore plans to inspect after they were found to have relationships with alleged money launderers.

18 Oct 2023 - 2:28PM

Singapore

Singapore banks tighten checks on China-born clients with other citizenships

Banks in Singapore are tightening checks on China-born clients with other passports after a multibillion money laundering crackdown in the country.

21 Sep 2023 - 12:23PMvideocam

Singapore

‘A wake-up call’: Singapore’s US$740 million laundering case exposes loopholes

The massive money laundering investigation is shining a light on fund flows into Singapore and has prompted questions about whether enough was done to block dubious transactions.

5 Sep 2023 - 12:03PM

Singapore

Singapore’s banking giants embroiled in US$740 million money-laundering scandal

The scandal has raised questions about crash barriers against illicit money flowing into one of the world’s most important financial hubs.

31 Aug 2023 - 11:57AM

Asia travel

Destinations known | Bali-based ‘river warriors’ clear Indonesian beaches and waterways of waste

In Indonesia, a Bali-based NGO has joined The Ocean Cleanup in tackling the ‘tsunamis of trash’ washing down rivers and onto beaches, and is helping villages shut down illegal rubbish dumps.

17 Aug 2023 - 1:57PM

Foreign tourists help collect rubbish at Batu Belig in Badung regency on Indonesia’s resort island of Bali after it washed up following a storm. Photo: AFP

Malaysia

Amid China’s slowdown, foreigners are investing billions in Malaysian stocks

Foreign investors bought a total of about US$2 billion of Malaysia’s stocks and bonds, according to data compiled by Bloomberg, the most since May 2017.

11 Aug 2023 - 6:00AM

City skyline of Kuala Lumpur, Malaysia. Foreigner investors parked their money in the country’s sotcks and bonds last month, as they try and avoid China’s economic slowdown. Photo: Shutterstock

Thailand

PM hopeful wants Taylor Swift to tour Thailand, sing Lavender Haze with her

The Move Forward Party leader said the kingdom is ‘back on track to be fully democratic and we all look forward to welcoming you to this beautiful nation of ours’.

8 Jul 2023 - 1:26PMvideocam

Music

Asian Swifties, should you see Taylor Swift in SG or Tokyo? Here are the facts

Buying a ticket to see Taylor Swift’s record-breaking tour in Asia isn’t as easy as it seems – so is it better to see her in Singapore or Tokyo? We do the sums and talk you through the knotty application process

6 Jul 2023 - 5:52PM

Singapore

Singapore’s DBS faces succession dilemma: who can replace its ‘all-star’ boss?

Piyush Gupta has built DBS into Singapore’s largest listed company, and Southeast Asia’s largest bank by assets. That very success is creating an elephant in the room.

3 Jul 2023 - 5:00PMvideocam

Piyush Gupta has been the head of DBS for 13 years, but many observers are wondering who will replace the 63-year-old once he decides to step down. Photo: Reuters

Singapore

Singapore jails woman for cheating Pokemon card buyers out of US$162,000

Koh Jia Wen, 26, admitted to cheating Carousell buyers who wanted to pre-order Pokemon cards from her, and was sentenced to 31 months in jail.

26 Jun 2023 - 4:06PMvideocam

Packs of Pokemon trading cards. Photo: Bloomberg

Singapore

Hong Kong roars back to life as Singapore’s economy slows: survey

A tourism-supported consumption-driven rebound is boosting Hong Kong’s ‘short-term cyclical prospects’, economists say. Singapore, meanwhile, may be entering a technical recession.

12 Jun 2023 - 11:40AM

Singapore

Singapore banks are so flush with cash that they’re struggling to put it to work

The liquidity surplus underscores how Singapore has been a beneficiary of Asia’s wealthy shifting their money to a perceived safe haven, even as customers flock to lock in high interest rates on fixed deposits.

7 Jun 2023 - 10:44PM

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United Overseas Bank (UOB)

UOB eyes domination in Southeast Asia’s US$2 trillion trade finance business

UOB has only 1 per cent of the trade financing market in the region, leaving a huge room for the bank to build its dominance.

Asean wins as US-China feud reshapes global supply chains, Li & Fung says

.css-sioo19{color:#c79a00;}Explainer | What are the biggest financial scams in Hong Kong? Here’s how to avoid being a victim

Singapore banks’ red flags? Guangdong, Fujian, Hong Kong ties, no English skills

Training to spot financial criminals comes as Citi, DBS, others ramp up vetting after a US$2 billion dirty cash scandal rocked city state.

Cash, Ferraris, Hermes bags: Singapore looks at how to offload laundered assets

The city state has already spent more than USS$473,600 to maintain the valuables, including bungalows, luxury handbags and premium whiskeys.

Forget Macau, dirty Chinese cash has a new home: Southeast Asia’s scam hubs

With the junkets of Asia’s gambling capital ‘decimated’ by an anti-corruption crackdown, money launderers have shifted focus to more loosely regulated casinos in Cambodia, Laos, the Philippines and Myanmar.

Chinese tycoon Chen Hongtian faces demands from banks on overdue property loans

Chen Hongtian, who had snapped up mansions and offices in Hong Kong and London, faces demands from banks to repay more than US$200 million of overdue loans following the market slump.

Singapore banking dynasty scion buys US$29 million mansion amid property lull

Grace Wee Jingsi, the youngest child of United Overseas Bank Ltd. CEO Wee Ee Cheong, is taking advantage of a lull in the city state’s high-end housing market to buy a ‘good class bungalow’, according to property filings.

Art Central, back in its Central harbourfront marquee, puts on a show

Performance art catches the eye at Art Central 2024, from a scarlet dress visitors crawl under to make their own art, to a multisensory dance involving chocolate. Galeries with art to sell are back in force too.

CEO of Singapore’s biggest bank takes US$3 million pay cut over service outage

Gupta’s compensation took a 30 per cent hit due to last year’s disruptions that affected payment and ATM transactions across the city state.

Singapore banking tycoon and former UOB boss Wee Cho Yaw dies at 95

The visionary banker, one of Southeast Asia’s most successful businessmen, helmed UOB Group for more than 60 years.

Who are the 10 richest billionaires in Singapore? Net worths, ranked

Haidilao founder Zhang Yong and fan of Tesla’s Elon Musk, Leo Koguan, all make the list – but which famous tech founder is the richest in the Lion City?

Singapore’s InnoVen eyes China’s tech start-ups after US$130m fundraising

Singapore’s InnoVen Capital Group completes a US$130 million first close for its second China fund, as it eyes financing China’s fund-starved start-ups.

Taiwan’s China bonds ETF sees assets under management dive over 94%

Taiwan’s economic and financial decoupling from China has deepened with the near-collapse of what was once the world’s largest Chinese bond exchange-traded fund market.

Massive laundering case reveals dark side of Singapore’s bid to lure super-rich

The surprise sting operation is prompting a rethink of the recent surge of foreign investors, amid signs dirty money is joining legitimate businesses in the rush to Singapore, with cash winding up at global lenders.

Hong Kong’s first green loan for logistics sector is worth US$1.1 billion

Hong Kong property firms ESR Group and Chinachem have secured the city’s first green loan for the logistics sector, worth HK$8.8 billion, for the development of a cold storage facility in Kwai Chung with a range of sustainable design features.

Singapore to scrutinise Credit Suisse amid massive money laundering probe

The Swiss lender is among the banks that the Monetary Authority of Singapore plans to inspect after they were found to have relationships with alleged money launderers.

Singapore banks tighten checks on China-born clients with other citizenships

Banks in Singapore are tightening checks on China-born clients with other passports after a multibillion money laundering crackdown in the country.

‘A wake-up call’: Singapore’s US$740 million laundering case exposes loopholes

The massive money laundering investigation is shining a light on fund flows into Singapore and has prompted questions about whether enough was done to block dubious transactions.

Singapore’s banking giants embroiled in US$740 million money-laundering scandal

The scandal has raised questions about crash barriers against illicit money flowing into one of the world’s most important financial hubs.

.css-1m2rp1p{color:#34b8b5;}Destinations known | Bali-based ‘river warriors’ clear Indonesian beaches and waterways of waste

In Indonesia, a Bali-based NGO has joined The Ocean Cleanup in tackling the ‘tsunamis of trash’ washing down rivers and onto beaches, and is helping villages shut down illegal rubbish dumps.

Amid China’s slowdown, foreigners are investing billions in Malaysian stocks

Foreign investors bought a total of about US$2 billion of Malaysia’s stocks and bonds, according to data compiled by Bloomberg, the most since May 2017.

PM hopeful wants Taylor Swift to tour Thailand, sing Lavender Haze with her

The Move Forward Party leader said the kingdom is ‘back on track to be fully democratic and we all look forward to welcoming you to this beautiful nation of ours’.

Asian Swifties, should you see Taylor Swift in SG or Tokyo? Here are the facts

Buying a ticket to see Taylor Swift’s record-breaking tour in Asia isn’t as easy as it seems – so is it better to see her in Singapore or Tokyo? We do the sums and talk you through the knotty application process

Singapore’s DBS faces succession dilemma: who can replace its ‘all-star’ boss?

Piyush Gupta has built DBS into Singapore’s largest listed company, and Southeast Asia’s largest bank by assets. That very success is creating an elephant in the room.

Singapore jails woman for cheating Pokemon card buyers out of US$162,000

Koh Jia Wen, 26, admitted to cheating Carousell buyers who wanted to pre-order Pokemon cards from her, and was sentenced to 31 months in jail.

Hong Kong roars back to life as Singapore’s economy slows: survey

A tourism-supported consumption-driven rebound is boosting Hong Kong’s ‘short-term cyclical prospects’, economists say. Singapore, meanwhile, may be entering a technical recession.

Singapore banks are so flush with cash that they’re struggling to put it to work

The liquidity surplus underscores how Singapore has been a beneficiary of Asia’s wealthy shifting their money to a perceived safe haven, even as customers flock to lock in high interest rates on fixed deposits.

Explainer | What are the biggest financial scams in Hong Kong? Here’s how to avoid being a victim

Destinations known | Bali-based ‘river warriors’ clear Indonesian beaches and waterways of waste