These Companies Deserve A Gold Medal Each

8 Aug 2016 - The Motley Fool Singapore
The Olympics 2016 have started for a while. In the spirit of the games, I would like to present a gold medal for certain categories to companies listed here in Singapore. I would like to present a gold medal for: The company with the highest revenue The company with the highest profit The company with ...
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DBS’ net profit slips 6% to $1.05b

8 Aug 2016 - Singapore Business Review
Group’s bad debt rose to $150 million. Still battered by the Swiber fiasco, DBS’ net profit dropped 6% to $1.05 billion in 2Q16 YoY due to uncollectible debt. According to DBS, the group’s total income inched up 6% to $5.78 billion in 1H16 YoY, but the results included a net allowance charge of $150 ...
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Daily Briefing: DBS profit plummets on Swiber provisions; Half of Singaporeans looking to buy home

8 Aug 2016 - Singapore Business Review
And here are Singapore’s most unique landmarks. DBS Group Holdings Ltd.’s second-quarter profit declined 6 percent as provisions for troubled energy-services firm Swiber Holdings Ltd. overshadowed gains in interest and fee income. Net income fell to S$1.05 billion ($780 million) from S$1.12 billion a ...
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The Week Ahead: DBS Group Steps Into The Fray

6 Aug 2016 - The Motley Fool Singapore
In a holiday-reduced trading week, Singapore’s largest bank DBS Group (SGX: D05) will step into the fray, when it reports quarterly numbers. The bank recently attracted unwanted attention, after oil-services customer, Swiber (SGX: AK3), decided to wind up the company but then changed its mind abruptly. ...
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CEOs Of StarHub Ltd And DBS Group Holdings Ltd Share How They Invest

5 Aug 2016 - The Motley Fool Singapore
Invest Fair 2016 took place just last week and I attended. It was an event that brought in many investing experts and company leaders to share their insights and wisdom. My colleague David Kuo was invited to take part in a panel discussion in one of the segments. The chief executives of StarHub Ltd (SGX: ...
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Singapore banks bleed as Swiber fiasco drags on energy firms: Bloomberg

5 Aug 2016 - Singapore Business Review
SGX Oil and Gas index sank to new lows. According to a report by Bloomberg, Singapore’s three largest banks are feeling the heat from loans to energy-services companies hurt by slumping oil prices. One of those businesses, Swiber Holdings Ltd., helped drag the SGX Oil & Gas Index to record lows after ...
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Chart of the day: Here's why O&G exposure might decimate Singapore’s banking giants

5 Aug 2016 - Singapore Business Review
DBS’ pre-provision income could crumble by over 60%. Among Singapore’s three banking heavyweights, DBS would be the biggest loser when it comes to of a broader default of a loss severity akin to Swiber. A report by Moody’s projected a high stress scenario that assumes a 50% probability of default (PD), ...
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London talks, last-minute $146m DBS loan failed to save Swiber: Bloomberg

4 Aug 2016 - Singapore Business Review
Court documents detail Swiber’s sinking saga. Bloomberg revealed in a report that a proposed investment that never happened, talks in London and Singapore, and a eleventh-hour overdraft facility from DBS Group Holdings Ltd. all failed to keep Swiber Holdings Ltd. afloat. The saga, which began when executives ...
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Daily Briefing: SGX makes formal offer for Baltic Exchange; DBS gave Swiber bridging loan before wind-up application

4 Aug 2016 - Singapore Business Review
And ex-Keppel agent says managers backed bribes. Singapore Exchange Ltd. will make a formal offer for the Baltic Exchange by the middle of this month in a move that could see another historic London marketplace end up in foreign hands, two people involved in the matter said Wednesday. Read more here. ...
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More consolidation expected in offshore, marine sector after Swiber developments: Observers

1 Aug 2016 - Channel NewsAsia
SINGAPORE: More consolidation is expected in the offshore and marine sector, following recent developments in embattled offshore services firm Swiber, according to market watchers. Last Friday (Jul 29), Swiber said it plans to restructure and operate under judicial management, after withdrawing earlier ...
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