DBS

DBS to double wealth business in Thailand to $8 mil by 2023 through strategic partnership

SINGAPORE (Sept 18): DBS has identified a new area for growth opportunities in Thailand – its rapidly growing wealth population.

DBS Private Bank and DBS Vickers Securities (Thailand) on Wednesday announced a partnership which seeks to target Thailand’s growing pool of wealth clients with seamless access to fully integrated onshore and offshore wealth management propositions.

Singapore banks have good dividend visibility, but non-performing loans pose an increasing risk: Maybank

SINGAPORE (Sept 12): Singapore banks seem to be a cut above the rest in Asean, offering some of the highest dividends and ranking among the cheapest in price-to-equity (PE) terms, bolstered by strong balance sheets. 

But a recent report from Maybank Kim Eng which uses artificial intelligence, has revealed that the biggest threat to the appeal of Singapore banks appears to overseas lending – which accounts for 63% of incremental loan growth for Singapore banks. In turn, this affects the banks’ non-performing loan (NPL) figures. 

City Developments secures $250 mil sustainability-linked loan from DBS

SINGAPORE (Sept 4): City Developments Limited (CDL) has secured an SDG Innovation Loan worth $250 million from DBS, to accelerate innovative solutions that promote UN sustainable development goals (SDGs).

According to a joint statement by CDL and DBS on Wednesday, the loan encompasses a three-year revolving credit facility from DBS, and will be used for CDL’s general working capital and corporate funding.  

Singapore banks primed for headwinds after earnings beat

SINGAPORE (Aug 2): Singapore banks delivered second-quarter profit that beat analysts’ estimates, indicating they are well placed to weather mounting pressures from a global economic slowdown and falling interest rates.

Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. posted surprise increases in net income for the three months ended June 30, results showed Friday. Larger rival DBS Group Holdings Ltd. earlier this week saw profit climb more than projected.

Fintech startup soCash raises US$6 mil in series B funding round

SINGAPORE (July 22): soCash, the Singapore-headquartered fintech startup, announced that it has raised US$6 million ($8.2 million) in its series B funding round.

With the new funds, soCash aims to grow its distribution network to improve the accessibility and convenience of banking services in countries such as Indonesia, Malaysia and Hong Kong -- as the company has already acquired the relevant regulatory clearances in these three markets.

Design-led businesses outperform peers

SINGAPORE (May 27): Mark Wee, executive director of DesignSingapore Council, is all too familiar with the narrow definition of “design”. Asked what it is, the response from any given audience would typically be “fashion design” or “interior design”.

EHT trades at 9% yield and discount to book as its manager waits for ship to come in

SINGAPORE (July 1): On May 24, Eagle Hospitality Trust made its debut on the Singa-pore Exchange and immediately fell below its offer price of 78 US cents. One of the underwriters sold more than four million units at 71 US cents each, brokers said. This transaction appears to have imposed a ceiling on the unit price. 

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DBS Foundation opens submissions for 2019 Social Enterprise Grant

SINGAPORE (June 19): DBS Foundation has launched the 2019 cycle of the DBS Foundation Social Enterprise Grant - which has helped more than 100 social enterprises (SEs) from countries such as Singapore, China, Hong Kong, Indonesia and Taiwan achieve their goals for a more sustainable world.

These SEs have deployed social innovations across the region in areas such as healthcare, social inclusion, environment protection, waste management, food sustainability, as well as employment and income generation for the marginalised.

Design-led businesses outperform peers

SINGAPORE (May 27): Mark Wee, executive director of DesignSingapore Council, is all too familiar with the narrow definition of “design”. Asked what it is, the response from any given audience would typically be “fashion design” or “interior design”.

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UOB, OCBC to benefit from mortgage rate hikes this year, says DBS

SINGAPORE (Apr 2): DBS Vickers Securities is remaining bullish on Singapore’s banks as a dividend yield play, while highlighting rising mortgage rates as the sector’s bright spot amid higher cost of funds this year.  

In a Tuesday report, analyst Lim Rui Wen says UOB will benefiting from hikes in mortgage rates in 1Q19, as it was the first to increase it Singdollar fixed deposit rates during February this year.

According to UOB, its mortgages based on fixed deposit rates may grow up to 70 basis points.

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