DBS    Last:42.42    +0.12

DBS

 

Wholly owned subsidiary DBS Asset Management (DBSAM) said that its joint venture with China's Changsheng Fund Management Company has been granted the Qualified Domestic Institutional Investor (QDII) licence by the China Securities Regulatory Commission (CSRC). The joint venture, Changsheng Fund Management, is one of the first six Sino-foreign fund management companies (FMCs) to receive approval under the QDII scheme. With this licence, Changsheng will now be able to help its clients invest their funds in overseas markets. And right after getting the QDII licence, Changsheng will be launching its Selected Global Sector Fund which will focus on varied industries in the fast growing economies. DBSAM holds a 33% stake in Changsheng.

 

Credit Sussie, ML just issued a outperform on DBS, TP $28. 

Down from high of $25, with STI recovering, DBS will rise along the wave.

 

 

 

 

Stay cool. I do not think it is an issue here. Moreover, according to latest news release, DBS's latest subsidary of the Islamic Bank of Asia has completed the second and final round of capital raising, bringing its paid-up capital to US$500m. Outlook seems bright and I believe it'll be good to be optimistic with this share.

 

ok lah - no problem

 

DBS dropping this morning...any news to share?

 

DJ had cheong for 4 days... so very unlikely to cheong again tonight.

So when DJ down, STI will down.

Compound with this news, DBS can only go down further.

Just my 2c worth. Take with a pinch of salt.

 

wow..this news shall inspire me to short this burger tomor? hee....cheers !

 

Not looking good for DBS at this moment...

Sept 5 (Reuters) - TMB Bank , Thailand's fifth-largest bank, has halted negotiations with Singapore's DBS Bank which had delayed a $1 billion rights issue since June, bank executives said on Wednesday.

The bank had opened talks instead with Dutch financial services group ING Group , which started due diligence on its financial position a week ago, the executives who declined to be named told Reuters.

"If DBS doesn't exercise its right to subscribe to the TMB issue, the bank will allocate new shares instead to ING, which can take as much as 25 percent," one of the executives said.

TMB, 31.2 percent owned by the Finance Ministry, had expected to complete the issue in June, but delayed it pending talks with DBS Group, which owns 16.1 percent of TMB, on the Singapore-based bank raising its holding.

But DBS was disappointed with TMB's performance, having to book a S$159 million impairment on the value of its stake in TMB, which reported a second quarter loss due to huge bad debt provisions.

 

hee..shorted at 20.4 this morning..just covered at 20.20...aya only 1x niah :P for fun ! :)

 

Tonight is Make or Break day in US. Expect 100+ points UP or DOWN.

 

 

great. 

 

hee..SHORTED this burger 1x $19.80 :P !! wish me luck !!

 

Lehman Brothers (LEH.N: Quote, Profile, Research) slashed earnings estimates on four top Wall Street banks, adding its voice to the chorus of widely followed research analysts warning credit turmoil would cut into bank profits.

Adding to negative sentiment Merrill Lynch cut its recommendation on Wal-Mart Stores Inc's (WMT.N: Quote, Profile, Research) stock to "sell."

"People are wary of the financials," said Eric Kuby, chief investment officer at North Star Investment Management Corp. in Chicago.

"I do think that people continue to focus on the big question, 'How widespread are these credit problems?' And then you have high-profile analysts reminding the market that there are probably bad earnings from the financials coming in the back half of the year because of write-downs."

 

Thornburg Mortgage Inc (TMA.N: Quote, Profile, Research) said on Thursday it raised $500 million by selling convertible preferred stock, a move that will boost funding and allow it to resume making new loans after getting hit by a credit squeeze.

 

The ratings are now questionable whether be it double A or triple A ratings. It is just a facade that they banks are putting in. All these CDOs are tied to one another one way or another. If the bank was to redeem these notes or debts, will the mortgage houses or financial institutions be able to pay? All hell will break loose.

Thornburg Mortgage who has "High Quality" loans, sold preferences shares to boost its liquidity, sold off some of its high quality loans at 30% discount.

If DBS is to write off its "High Quality" CDOs, it will cost a minimum of US$500millions. Bottom line you have a housing market glut in US now.

 

DBS's iBanking not working since 5pm today. Cannot pay broker shares money cannot check if my Singtel dividend is in or not. ... . ....

 

DBS Group Holdings Ltd., a Singapore bank that has been expanding its regional presence, this week was forced to inject liquidity into an off-balance-sheet vehicle that invested in complicated securities. Such vehicles, called conduits, raise money by selling short-term debt to investors and then investing in other securities -- in this case, exotic bundles of debt called collateralized debt obligations, or CDOs. The market jitters in recent weeks have upended the market for such short-term debt, called commercial paper, and left many banks on the hook to provide direct funding to keep their conduits going.

DBS admitted that once the conduit's holdings were taken into account, the bank's overall exposure to CDOs was $1.6 billion, up from the $850 million it had previously disclosed. However, it said none of the conduit's CDO investments are directly tied to subprime mortgages.

DBS notes 70% of its CDOs are backed by high-quality debt, rated triple-A or double-A, and that only $188 million of the instruments are tied to U.S. subprime mortgages. It says the bank is "comfortable" with that position and has a strong capital base.

 

Yup Self Discipline & patience ares essential habits that a trader must have.

So,

 

just

 

WAIT for the opportune time. 

 

The 2nd earliest lesson i learnt in trading bside cutting loss is.......Patience.

Must have enough patience to buy and sell at the "right" time.
Most of the time...Greed and Fear ruin it all.

If you had make a loss, don't feel sad.
It is a fees to pay for greater profits in future.

Just don't make the same mistake.



 

 

 

 

 

Buy only when cheap-cheap... (but never average down)... 

Waiting is a rare skill...