SINGAPORE — A former trader at DBS Group Holdings’ brokerage unit was sentenced to 16 weeks in jail after being convicted in Singapore’s first criminal spoofing case. Dennis Tey Thean Yang, 33, was given the sentence on Wednesday (March 22). ( read original story ...)
Ex-DBS Trader Jailed 16 Weeks in Singapore's First Spoofing Case
A former trader at DBS Group Holdings Ltd.’s brokerage unit was sentenced to 16 weeks in jail after being convicted in Singapore’s first criminal spoofing case. Dennis Tey Thean Yang, 33, was given the sentence on Wednesday. The former DBS Vickers ... ( read original story ...)
Whether based in UK or HK, HSBC’s new chairman is one tough customer
Hong Kong, according to the latest analysis from the Economist Intelligence Unit, is the second most expensive city in the world to live in, beaten only by Singapore ... has been chosen as the next chairman of HSBC, Britain and Europe’s biggest bank ... ( read original story ...)
Fitch Assigns Final 'AAA' Rating to OCBC's Inaugural Covered Bonds; Outlook Stable
At 31 January 2017, the cover pool consisted of 8,319 prime Singapore private residential mortgages equivalent to SGD5.7bn. The OCBC-calculated WA indexed loan-to-value ratio is 57.9%, and the portfolio is 59.5 months seasoned. By current balance ... ( read original story ...)
Singapore’s stock market rally slammed by oil and gas woes
The S&P 500 index slid for a third day, dragged by financial (-0.9%) and utility (-0.68%) sectors. Market sentiment has been weighed by news that the FBI is probing possible ties between Russia and Donald Trump’s presidential campaign, according to FBI ... ( read original story ...)
Singapore Bank Stocks: More Oil Pain to Come?
DBS is Maybank Kim Eng’s preferred pick within its Singapore banks coverage despite having the largest exposure to Ezra Holding, the Singaporean oil & gas services company which has filed for U.S. bankruptcy. Maybank Kim Eng has a hold rating DBS with a ... ( read original story ...)
Singapore banks’ exposures Ezra ‘lower than expected’
SINGAPORE (March 20): UOB KayHian says it is keeping to its conservative 2017 earnings forecast for Singapore’s banking sector, which is 6% below consensus estimates for DBS and 7% below consensus estimate for OCBC. This comes after factoring the banks ... ( read original story ...)
Singapore Bans Ex-Bankers Linked to 1MDB From Working in Financial Sector
SINGAPORE—Singapore’s central bank said it has banned a former director of Goldman Sachs Group Inc.’s local branch from operating in the financial sector and plans to ban three more people from other banks, following investigations linking them to ... ( read original story ...)
Singapore banks, energy services stocks wobble following Ezra bankruptcy filing
Ezra has $1.5bn of total liabilities, with Singapore lender DBS facing the single biggest hit, with loans to Ezra of $272m. The bank said on Monday morning via a spokesman: Our exposures to Ezra Holdings were moved to non performing in the third quarter ... ( read original story ...)
Singapore banks' profits could fall by up to 8% in FY17
We estimate Singapore banks have c.SG$217-748m of claims and borrowings to Ezra Group, based on court filings and bank borrowings. If we assume O&G support services’ NPLs require specific provisions of 50 cents per dollar of problem loans, and the ... ( read original story ...)
Citigroup’s voice authentication option reaches one million customers in Asia
The bank was the first financial services company to deploy voice biometrics authentication across Asia Pacific, having implemented the technology in Taiwan, Australia, Singapore, Hong Kong, Philippines, Malaysia, Vietnam, Thailand and India. Citi clients ... ( read original story ...)
Maybank Kim Eng positive on Malaysian equity market
SINGAPORE: Maybank Kim Eng Group, the investment banking arm of Maybank, is positive over the Malaysian equity market, with an expectation of the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) hitting the 1,800-level this year. Chief executive officer Datuk ... ( read original story ...)
Pre-market: What changed overnight & 8 top cues for you before Opening Bell
Nifty50 futures on the Singapore Stock Exchange were trading 29.50 points higher at 9,193, indicating a positive opening for the domestic market. Nifty50 forms 'Bearish Belt Hold' pattern A ‘Bearish Belt Hold’ pattern is formed when the opening price ... ( read original story ...)
Shares of Singapore coffee shop owner perk up on debut
Singapore's largest traditional coffee shop operator marked a stellar debut on the Singapore Exchange, or SGX, with shares trading 120 percent above its initial public offer (IPO) price on debut. As well-caffeinated senior executives stood side by side for ... ( read original story ...)
Analysts mull outcome as Singapore's Ezra holdings seeks shelter from creditors
It also owes about $108 million to a Singapore affiliate of HSBC, according to a Reuters report. "Our exposures to Ezra Holdings were moved to non-performing in the third quarter, and suitable provisions have been made," DBS said in a statement to CNBC. ( read original story ...)
Singapore's economy-tier hotels suffer 5.4% drop in RevPAR
The Singapore Tourism Board categorises hotels into four tiers based on a combination of factors that include average room rates, location, and product characteristics: Luxury, Upscale, Mid-tier, and Economy, according to OCBC. Looking at FY16 RevPAR ... ( read original story ...)