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OIC. thanks. ya...i think i will hold for 1-2 yrs. And i m thinking of buy another log to lower than the price. Hope it will drop till $8....
How about Singtel ? do you think if hold singtel for 1-2 yrs...it will rise to $4 ?
It means if u have holding power, spare cash that u do not need for 1 to 2 years, buy STI blue chips and hold for 1 to 2 years, most prob will be at least 50% higher than now, esp if u can hold 2 years.
Hi,
Sorry, i dun knw what you mean ? can explain ?
Actually I do think we are close to the bottom, STI is now at 1745.
From high of 3920, we have already fallen about 2200 pt or 55%.
Even Citi's target of 1500 is not very far off, at most another 250 pt to go or about 15% more. At 1500, we are down more than 62%.
We have fallen much more than Dow Jones from 14200 to 8500 (about 40% decline).
And the STI has fallen for 2 whole months from 1st sep at a high of 2700 to 1745 today 23 Oct, a solid 1000 pt drop (or 40% of 2700), without a meaningful rebound at all.
It would be a better idea to start to accumulate good blue chips if one has deep pockets.
ha ha great idea siah. hope 98 know what u meant.
AK like to do that as well, esp nowaday short salah got penalty one.
nickyng ( Date: 23-Oct-2008 17:25) Posted:
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aya...since u got 1x lot..u can SHORT legally ! :P
Jesslee98 ( Date: 23-Oct-2008 16:25) Posted:
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to be fair many other financial institutions were selling stuff they did not understand
nickyng ( Date: 23-Oct-2008 14:17) Posted:
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I bought DBS 1 log at $15.75, suffering a great paper loss now ($10.98). I m thinking of buying more to lower down the price. Anyone can advise when to step into the market?
wah...u mean they selling product they DONT even have detail knowledge of ?!??! wow...like dat also can meh ??? haha....and u trust MAS will be laggi blurr...ayo...how to regulate the mkt like dat ? :D
kawaiiboi ( Date: 23-Oct-2008 13:49) Posted:
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At that time they did not know that they will be implicated in the minibond saga when Lehman Brother collasped..
hmm...juz look thru the MASNET filing..DBS seems to be buying-back shares for mth of Sep till Mid-Oct at $13-$16 leh....wah..now trading at $10.90 level...isn't it a STEAL buy?? ;P
If the financial institutions (which is kept confidential) take over the bonds, will confidence of the bank be returned?
A takeover of the issue will definitely save DBS btn $70 to $80 Millions?
Any analyst on this?
Look like dbs will fall below $10 very soon. Dont know why this brutal selling will end. LIBRO inprovement but the problem is still severe. Look like the best strategy now is to watch the free fall.
Proposal Received from Financial Institutions regarding Lehman's minibonds:
http://www.mas.gov.sg/news_room/press_releases/2008/Proposals_Received_from_Financial_Institutions_Regarding_the_Lehman_Minibond_Programme.html
Date & Time of Broadcast 22-Oct-2008 22:41:33
Announcement Title * DBS' Media Statement
http://info.sgx.com/webcorannc.nsf/d21c0ed0b4a507cf482571b2003641d2/f3a58f6e6ba204ac482574ea0050b306?OpenDocument
Since the collapse of Lehman Brothers on 15 September, we have been deeply concerned about DBS customers in Singapore and Hong Kong who have invested in structured products with Lehman as a reference entity and understand the anguish they are facing. When DBS first distributed these products over 18 months ago, the global financial landscape was very different. Nobody could have imagined the extent of the fallout from the US sub-prime crisis, or the collapse of a venerable 158-year-old financial institution like Lehman and the toll this would take on investors.
DBS CEO Richard Stanley said: “I am deeply concerned about the anguish our customers are experiencing. DBS is committed to doing the right thing and my colleagues and I are working as hard as possible to resolve the situation. Every customer is important to us and in cases where our standards are not met, DBS will not hesitate to make cash compensation.”
These products were sold to 4700 customers in Singapore and Hong Kong who invested a total of SGD 360 million. In Singapore specifically, 1400 DBS customers invested a total of S$103 million in High Notes 5. Of these customers, two thirds are from DBS Treasures, which caters to customers with a minimum of $200,000 cash and/or investments, and 80% are below age 60. We will give every single case individual attention and hearing. We agree with MAS on the need to give priority to vulnerable customers and are fast-tracking such cases.
As a matter of policy, we do not discuss individual cases. However, to-date we have found that a number of cases did not meet the standards DBS upholds and the Bank will be compensating these customers with effect from tomorrow. Based on the number of cases we've reviewed, we estimate that the total customer compensation in Singapore and Hong Kong will be in the range of SGD 70-80 million.
The unwinding process of the products is currently underway. Regrettably, our initial expectation of the worst-case scenario whereby investors will lose their entire principal investment amount is likely to materialise. DBS will not gain from this process and the Bank will make a final announcement next week when the final credit redemption amount, based on prevailing market conditions, is determined.
We will continue to work closely with the MAS to ensure that all cases are handled in a prompt and comprehensive manner.
Thank you.
Group Strategic Marketing & Communications
DBS Bank
I say the share trading can halt indefinitely anyday. How many people really care about share prices anyway. Members of the public can still use ATMs and meetings in the bank can still carry on.
By right, this time is more serious than 1997/98 financial crisis, and 2003 SARS/Iraq war.
This crisis is global. Factor in inflation, we have reached 2003 levels liao, at least for DBS at 0.9 book value.
Next level is 0.5 book value, at $6.50 equivalent to 1997/98 crisis.
it is correct that we use past share price to guide.
is the situation now less serious than the past
which year is the worst 1997, 2003 or 2008
will the confident level now worse than 1997/2003
Then Dr Tan Koo Koo may become next Chairmem ti
goondoo ( Date: 22-Oct-2008 16:37) Posted:
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I bot DBS @ 8.20 in 2003 Apr and sold at $13 within 6 mth.
Thk maybe OCBC take over DBS? Both got govt connections. UOB unlikely as totally private owned.