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DBS to Raise Capital Through Rights Issue
DBS announced today their intention to raise $4 billion of capital through a rights issue. Every two shares that a shareholder owns will entitle him to subscribe for a DBS share at a price of $5.42. This is almost a discount of 45% to the last traded price of $9.85 on 19th December 2008. The […]
DBS High Notes 10
Someone asked me whether DBS High Notes 10 was safe. I haven’t read the prospectus or pricing statement of High Notes 10 yet, but apparently DBS posted a FAQ on the High Notes 10 a few days ago. The High Notes 10 FAQ highlights the risk of this product. The capital of investors will be severely […]
Singapore Government to Guarantee all Deposits
In a joint press statement issued by MAS and Ministry of Finance yesterday night, the Singapore government announced that it would guarantee all Singdollar and foreign currency deposits of individual and non-bank customers in licensed banks, finance companies and merchant banks. The guarantee of up to S$150 billion will be more than enough to cover […]
DBS to Take Responsibility if Misselling is Involved
After all the efforts by the investors of structured products, we finally have the first financial institution to make a comment that is positive to investors. DBS has issued a statement that it would take responsibility if customers are able to give evidence of misselling in relation to products affected by the collapse of Lehman Brothers. […]
DBS Bank to Issue Preference Shares
DBS announced yesterday that it will be launching an offering of non-convertible hybrid Tier 1 securities in the form of preference shares to shore up its Tier-1 regulatory capital base. DBS Tier 1 was 9.2 percent at end-March 2008, which was above the regulatory requirement of 6 percent. According to Jeanette Wong, CFO of DBS […]