Yesterday was OCBC's 72th AGM. On paper it states that the AGM starts at 2.30pm, however many shareholders did not notice the finer details in regards to presentation and Q&A session at 1.30pm. The presentation started off with the CFO summarizing OCBC's financial performance for FY14, he seems pretty young and less experiences... probably in his 40s only... kinda makes me skeptic. I would definitely prefer a much mature CFO.
Next up the CEO briefed us on OCBC's business strategy. They intend to focus on 4 core economies, mainly China, Indonesia, Malaysia and of course Singapore. The 3 core business areas are Retail Banking, Wealth Management and Insurance.
Skipping the boring stuff, we jump straight into the Q&A
Shareholders quickly shoot management down, pointing out that on page 111 of the AR, Remuneration of Bank's directors nearly tripled! from 3mil to 9mil! This set out the tone for ......
