Hi victor, I saw that the book value per share for OCBC was 9.97 per share, may i ask how do you get this value?

From 2018 annual report, the total equity was 42136.87 and the intangible asset was 5092, therefore the tangible book value for me was 37044. is there any difference from the values you derive?

Hi Matthew,

I take the total equity of 42136.87 divided by the number of shares (4,249.9). The figure will give your roughly $9.91 for book value per share. I did not deduct the intangible asset.

Oh i see, Can i ask any reason for not deducting the intangible asset?

Hi Matthew,

You can use tangible asset also. Just that you have to be consistent when plotting out the PB ratio chart. At the end of the day, the result should be roughly the same figure.

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