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Cautious is the key to trading...all the local banks are facing keen competition from foreign bank. Maybank just challenge their turf in the housing loan by lower interest rate which will lower their margin in this area......tough....
Somehow or rather, pretty amaze at investors chasing up DBS when there are signs that the situation is not getting rosier than before.....maybe a consolation that the result announced is not as bad as expected. Still the weakness is reflected and it might be the beginning from the weakness reflected in the 4th Qtr and the global bleak sceanario is making it harder to be as profitable as before...
DBS is the first bank to announce... will the rest of the banks be better or worst???? Or will there be a change in economy??? DBS has beat the forthcoming crisis or the uplift ???
so tempted to sell and finall sold off at $17.90..bought at $16.80 ab a week only..citicorp downgrade TP from $25.50 to $18.10
I feel that the results has beat the analyst expectations, that is why it went up... But you also must take into account that others have raised, but DBS is left behind, that is why it went sky high.....
Beware of the world correction....
mike, agreed with your comments...
.... plus most new CEOs typically want to report jialat jialat results to make the stock price fall deeply... then award themselves stock options at bargain prices based on the depressed stock price... after that, viola! fantastic results and more money in the bags plus fat bonuses...
... one way for the rich to become richer ...
disclaimer: i don't mean to imply the new dbs ceo will act that way. he is a fair guy with a beautiful singaporean wife to boot... hopefully, he is different.
The new CEO will most likely to make the Q1 - Q2 2008 result bad ...and turnaround after he joins. Typical change of management so that the new management will look very good
OK! dbs announced about 90% of subprime related exposures were covered.
... so that would mean about up to $930 million dollars of other CDOs not adjusted for yet...
... plus dbs has substantial exposure to monoline insurers which dbs has not provided any allowance for write-down yet... dbs did not disclose how big those exposures are...
... profit falls 18% mitigated by lower allowances for sub-quality loans last quarter... profit could have been lower if previous allowances were maintained ... why dbs so sure its loan qualities have improved under the current global environment???
Is the bullish trading today justified?
Buy at own risk.
Updated 1.05 pm
DBS' Q4 profit falls 18% to $491m
Overall TA trend seems to be heading south. Acc/Dist and chaikin are bearish looking.
got 1 lot at $16.80 recently...maybe hold long term as well as for its dividends
total income for 4Q increased 10%
Net profit for 4Q decreased 18%
Net profit for year 2007 is flat, increased 0.39% ... so, result is still sustaintable..
at least is not like UBS 4Q loss 4 billions, those scary results, that cause it drop more than 8% yesterday night to 52 weeks low.
Result OUT....
DBS likelihood to post losses.... But I am sure they will have plan to buffer or minimize the losses...
Richard Daniel Stanley as Chief Executive Officer (CEO) the upcoming one will make things happen....
Before trading the result will be out, what do you think.....positive or will its result be drag down by sub-prime????
From Kim Eng..... read for information
2. DBS Group Holdings Corporate Announcement (Pauline Lee, DID: 64321453)
Previous Day Closing price: S$16.80
Recommendation: BUY (maintained)
Target price: S$25.60 (under review)
Appointed veteran banker, Richard Daniel Stanley as Chief Executive Officer (CEO)
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Previously the CEO of Citigroup China, led Citigroup China for over 8 years.
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Has expertise in emerging markets and China
- Has broad-based banking experience, spanning across corporate and investment banking, consumer
banking, transaction services, custody services and credit.
A pretty good fit
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Is well-equipped to help DBS expand its presence in emerging markets, especially China.
- Brings to the table his experience and expertise in organic franchise building and mergers and
acquisition. In 2006, Mr Stanley helped lead a Citi consortium's S$3.1b acquisition of a controlling stake
in Guangdong Development Bank. He also led Citi in its purchase of a minority stake in another Chinese
lender, Shanghai Pudong Development Bank.
- Fits DBS's key criteria such as leadership, familiarity with Asia's complex business and regulatory
environment, and the ability to forge lasting partnerships with investors and regulators.
The uncertainty about the leadership has been removed with the appointment of Mr Stanley as
CEO. The market now awaits his articulation of his vision for DBS.
Maintain BUY. DBS will release its full-year 2007 earnings before the market opens on 15 Feb,
Friday.
they just hired 1 ang moh to replace Jackson......must be damn expensive lah. Expat package!
Today performance is a disappointment as DBS went up as high as 40 cents gain before flattening out with a miserable 2 cents gain....seems everyone is cautious as result will be out soon....
Well Said....DBS is in deep red sea, but to swim out.... It will see the horizon...
Lets hope for the best if you have invested....
...wise to avoid dbs for now... more bigger write-downs probable in upcoming Friday results announcement...
... richard stanley (new ceo) is going to find more skeletons in the dbs closets soon ...
... more interest rate sibor falling all the way is negative for dbs since they are top net lender in the interbank market...
... cooling property market another blow to future earnings...
... why buy now with so much known unknowns against you ...
buy at own risks...