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Singapore's Selected Single Stocks
Exchange Partner Singapore’s Selected Single Stocks SSF Strategies On Lion City’s Blue Chips by Tariq Dennison, +852 9476 2868 © 2020 GFM Group Limited, https:://gfmasset.com Image source: https://www.pinterest.com/pin/162129655305421931/?autologin=true Disclaimer This presentation is for educational and discussion purposes only. Nothing in this presentation is to be taken as investment advice, nor as any recommendation to buy or sell any security or investment property or product. Please consult with GFM or your own investment advisors 1-on-1 before making any investment decisions. GFM does NOT provide any tax or legal advice. Tax strategies in this presentation are based on our experience and believed to be current, but please consult with your own tax advisor for tax advice specific to your situation. GFM Group Limited is an SFC Type 9 Licensed Asset Management firm and is not affiliated with any exchange, brokerage firm, or custodian, including the co-presenters of this seminar. GFM Asset Management LLC, an affiliated company, is a US SEC Registered Investment Advisor. Investing involves risks, including the risk that you may lose some or all the money you invest. GFM is not affiliated with Interactive Brokers LLC, or any other FINRA broker-dealer © 2020 GFM Group 2 Disclaimer by SGX This document/presentation has not been prepared by Singapore Exchange Limited (“SGX”) or any of its affiliates (SGX and its affiliates collectively, the “SGX Group Companies”) and the information in this document/presentation has not been verified by any SGX Group Company. No SGX Group Company endorses or shall be liable for the contents of this document/presentation. -
Next-Gen Technology Transformation in Financial Services
April 2020 Next-gen Technology transformation in Financial Services Introduction Financial Services technology is currently in the midst of a profound transformation, as CIOs and their teams prepare to embrace the next major phase of digital transformation. The challenge they face is significant: in a competitive environment of rising cost pressures, where rapid action and response is imperative, financial institutions must modernize their technology function to support expanded digitization of both the front and back ends of their businesses. Furthermore, the current COVID-19 situation is putting immense pressure on technology capabilities (e.g., remote working, new cyber-security threats) and requires CIOs to anticipate and prepare for the “next normal” (e.g., accelerated shift to digital channels). Most major financial institutions are well aware of the imperative for action and have embarked on the necessary transformation. However, it is early days—based on our experience, most are only at the beginning of their journey. And in addition to the pressures mentioned above, many are facing challenges in terms of funding, complexity, and talent availability. This collection of articles—gathered from our recent publishing on the theme of financial services technology—is intended to serve as a roadmap for executives tasked with ramping up technology innovation, increasing tech productivity, and modernizing their platforms. The articles are organized into three major themes: 1. Reimagine the role of technology to be a business and innovation partner 2. Reinvent technology delivery to drive a step change in productivity and speed 3. Future-proof the foundation by building flexible and secure platforms The pace of change in financial services technology—as with technology more broadly—leaves very little time for leaders to respond. -
Press Release: Global Finance Names the World's Best Private
Global Finance Names The World’s Best Private Banks 2019 NEW YORK, October 22, 2018 — Global Finance magazine has announced its fourth annual World’s Best Private Banks Awards for 2019. A full report on the selections will appear in the December issue of Global Finance, and winners will be honored at an Awards Dinner at the Harvard Club of New York City on February 5th, 2019. About Global Finance The winners are those banks that best serve the specialized needs of Global Finance, founded in 1987, has a circulation of high-net-worth individuals as they seek to enhance, preserve and pass 50,050 and readers in 188 on their wealth. The winners are not always the biggest institutions, but countries. Global Finance’s rather the best—those with qualities that individuals rate highly when audience includes senior corporate and financial choosing a provider. officers responsible for making investment and strategic Global Finance’s editorial board selected the winners for the Private Bank decisions at multinational companies and financial Awards with input from executives and industry insiders. The editors institutions. Its website — also use information from entries submitted by banks, in addition to GFMag.com — offers analysis independent research, to evaluate a series of objective and subjective and articles that are the legacy of 31 years of experience factors. This year’s ratings were based on performance during the period in international financial covering July 1, 2017 through June 30, 2018. markets. Global Finance is headquartered in New York, with offices around the world. “Recent decades have minted unprecedented new ranks of millionaires Global Finance regularly selects and billionaires around the world, and they bring a new set of beliefs and the top performers among attitudes toward wealth. -
Fast and Secure Transfers – Fact Sheet
FAST AND SECURE TRANSFERS – FACT SHEET NEW ELECTRONIC FUNDS TRANSFER SERVICE, “FAST” FAST (Fast And Secure Transfers) is an electronic funds transfer service that allows customers to transfer SGD funds almost immediately between accounts of the 24 participating banks and 5 non-financial institutions (NFI) in Singapore. FAST was originally launched on 17 March 2014 and included only bank participants. From 8th February onwards, FAST will also be available to the 5 NFI participants. FAST enables almost immediate receipt of money. You will know the status of the transfer by accessing your bank account via internet banking or via notification service offered by the participating bank or NFI. FAST is available anytime, 24x7, 365 days. Payment Type Receipt of Payments FAST Almost Immediate, 24x7 basis Cheque Up to 2 business days eGIRO Up to 3 business days Types of accounts that you can use to transfer funds via FAST (Updated on 25 Jan 2021) FAST can be used to transfer funds between customer savings accounts, current accounts or e-wallet accounts. For some banks, the service can also be used for other account types (see table below). Other Account types that you can use FAST Participating Bank to transfer funds via FAST Transfer from Transfer to (Receive) (Pay) 1 ANZ Bank MoneyLine MoneyLine 2 Bank of China Credit Card Credit Card MoneyPlus MoneyPlus 3 The Bank of Tokyo-Mitsubishi UFJ - - 4 BNP Paribas - - 5 CIMB Bank - - 6 Citibank NA - - 7 Citibank Singapore Limited - - 8 DBS Bank/POSB Credit Card Credit Card Cashline Cashline 9 Deutsche Bank - - 10 HL Bank - - 11 HSBC - - 12 HSBC Bank (Singapore) Limited - - 13 ICICI Bank Limited Singapore - - 14 Industrial and Commercial Bank of China Limited Debit Card Debit Card Credit Card 15 JPMorgan Chase Bank, N.A. -
Dbs Bank Ltd. Prices the Market's First Singapore
DBS BANK LTD. PRICES THE MARKET’S FIRST SINGAPORE OVERNIGHT RATE AVERAGE (“SORA”)-REFERENCED NOTES * * * SINGAPORE, 6 May 2020 – DBS Bank Ltd. (“DBS Bank”) has successfully priced the industry’s first SORA-referenced floating rate notes (the “Notes”) under its USD 30 billion Global Medium Term Note Programme (the “Programme”). The issue of the Notes supports the Association of Banks in Singapore and the Singapore Foreign Exchange Market Committee (ABS-SFEMC)’s roadmap for the development of new SORA-based markets. On 30 August 2019, ABS-SFEMC announced that the discontinuation of the London Interbank Offered Rate (LIBOR) would affect the sustainability of the SGD Swap Page 1 of 5 DBS Group Holdings Ltd Tel: 65.6878 8888 12 Marina Boulevard DBS Asia Central @ Marina Bay Financial Centre Tower 3 Singapore 018982 www.dbs.com Co. Reg. No. 199901152M Offer Rate (SOR)1, and held a public consultation on the use of SORA as the new interest rate benchmark to replace SOR. More recently, the Steering Committee for SOR Transition to SORA (“SC-STS”) published the response to feedback on 19 March 2020, together with a roadmap for the transition. SORA is a transaction-based interest rate benchmark underpinned by the SGD overnight interbank funding market and has been published by the Monetary Authority of Singapore since July 2005. As the first financial institution in Singapore to successfully price the issue of a SORA-referenced floating rate note, DBS Bank has taken the first step to pave the way for further SORA adoption. The Notes have a notional amount of SGD 20 million and a tenor of 1 year. -
The 50 Years
The 50 years. Foreword 5 Peter Seah, Piyush Gupta A bank is born 7 S Dhanabalan The courage of youth 12 S Dhanabalan Best of all leaders 18 J Y Pillay From negative to positive 22 Ang Kong Hua Of fishmongers and stallholders 26 Shirley Loo-Lim A first against all odds 32 N Ganesan Buses, planes and the stock exchange 36 Tan Soo Nan Daring to do 40 Hong Tuck Kun The condo project that almost wasn’t 44 S Dhanabalan, Ng Kee Choe Ruffling feathers 48 Ng Kee Choe, Elsie Foh City within a city 52 Lau Chan Sin Grand old dame gets a facelift 56 Loh Soo Eng A game-changing first 60 Elsie Foh Putting Singapore on the map 64 Eng-Kwok Seat Moey Turning crisis into opportunity 69 Jeanette Wong A dino-mite story 73 Digor (The last dinosaur alive) A Smart Buddy for a Smart Nation 79 P’ing Lim, Jeremy Soo The journey together continues 85 Chester Teo (A reel-life character) Beyond dollars and cents 89 Eric Ang 50 Enterprises of Change 94 50 Memorable Highlights 146 Once upon a time... 4 Foreword This year, DBS turns 50. With our coming of age, it’s inevitable that we’ve been a little introspective, remembering our roots and celebrating our rich heritage as the former Development Bank of Singapore. In many ways, the DBS story mirrors that of Singapore’s. After all, the bank was founded in 1968, just three years after the independence of Singapore – for the express purpose of financing the nation’s development and industrialisation. -
World Bank Document
PW -ZM/fl.\-. ' ' ttl'lF. U Y Q I A tt?blsD1^ ffR E ST R IC TE D Report No. DB-55a Public Disclosure Authorized This report was prepared for use within the Bank and its affiliated organizations. They do not accept responsibHftv fnr its ntrorvn r rnmnpltenes The report may not be published nor may it be quoted as representing their views. TMTVPMATT(hNAT&L BANK PC)R RECONSTRUCITION AND DTlVP.T.CPMVNT INTPRNATTCONAT DEVELOPMENT ASSOCTATION Public Disclosure Authorized APPRAISAL OF DEVELOPMENT BANKC OF SINGAPORE LTD. Public Disclosure Authorized December 29, 1969 Public Disclosure Authorized Development Finance Companies Department Currency Equivalents 3$ 1 US$ C).327 US$ 1 ,S$ 3.06 S$ 1 million = US$327,000 APPRAISAL OF DEVELOPMENT BANK OF SINGAPORE LTD. CONTENTS Page Paragrc+h SUTPINARY i - ii i - vi.i I. 2ITRODUCTION 1 - 2 1 - 2 II. ENVEIRONMENT 1 - 5 3 - 21 Recent Economic Growth 2 4 Industrial Expansion 2 - 5 - 8 Industrial Finance 2 - 9 9 - 21 III. ESTABLISHIDENT OF DBS 5 - 9 22 - 38 Formation 5 22 - 24 Scope of Operations 5 - 6 25 - 26 Ownership 6 - 7 27 - 30 Board of. Directors 7 31 Executive Committee 7 - 8 32 - 33 MlaInagement and Staff .8 - , 3) = 3 vT. RESOURCES ldrID PFOOR`TFOLIO -l 1 1 39l GP Resources 9 - 39 - 4 Loan Portfolio taken over from 7B 10 - 11 42 - 46 Undisbursed EDB Commitments 11 47 EDBis Equity Portfolio 11 48 V. POLICIES AhD PROCEDuRES 12 - i4 49 - 58 Policies 12 - 13 49 53 Procedures 13 - 1 5 - 58 VI. DBS'S OPERATIONS l - 18 59 - 67 Summary of Operations 14 59 - 60 Long-term Lending Operations 15 - 16 61 Light lndustries Loans 16 62 Equity Investments 17 63 Conmercial Banlcing Operations 17 6L Guarantees 17 65 Underwriting Activities 17 66 Real Estate Operations 17 - 18 67 Page Paragraph VII. -
High Level Dialogue on Asean Italy Economic Relations
In collaboration with HIGH LEVEL DIALOGUE ON ASEAN ITALY ECONOMIC RELATIONS Building an exclusive, influential community of leaders for growing their enterprises, their countries, and their continents Second Edition Shangri-La Hotel, Singapore Wednesday, April 11 and Thursday, April 12, 2018 Arham ABDUL RAHMAN Zeti Akhtar AZIZ MALAYSIAN INVESTMENT DEVELOPMENT ASIA SCHOOL OF BUSINESS AUTHORITY Co-chair of the Board of Governors Deputy Chief Executive Officer BANK NEGARA MALAYSIA High Level Dialogue Speaker former Governor High Level Dialogue Speaker Dario ACCONCI P&P, SINGAPORE Domenico BALASSI Partner ELIT CONSULTING, SINGAPORE Director Bagus ADITYA BANK NEGARA INDONESIA, SINGAPORE Carlo BALDOCCI BRANCH CASSA DEPOSITI E PRESTITI, ITALY Head of Corporate Relationship Department Head of Public Affairs Giorgio ALIBERTI Carlo Sergio BANFI EMBASSY OF ITALY IN YANGON, MYANMAR ANIMA FEDERATION, ITALY Ambassador of Italy to Myanmar Vice President Sabina ALZATI Bicky BHANGU PRICEWATERHOUSECOOPERS, SINGAPORE ROLLS-ROYCE, UNITED KINGDOM Senior Manager President, SE Asia, Pacific & South Korea High Level Dialogue Speaker Michele AMADEI UNICREDIT, CHINA Head of Asia Pacific Region Marco BARDELLI THE EUROPEAN HOUSE - AMBROSETTI SINGAPORE Tomaso ANDREATTA Executive Director VIETNAM BUSINESS FORUM Co-Chairman Giovanni BARTUCCI ALPERIA BARTUCCI, ITALY Thomas ANG Chief Executive Officer SPECIALISTS TRADE ALLIANCE OF SINGAPORE President Riccardo BASILE LAZADA SOUTH EAST ASIA, SINGAPORE ZHENG KENG ENGINEERING AND Group Chief Mobile Officer CONSTRUCTION, -
Thai Beverage Public Company
Singapore Company Guide Thai Beverage Public Company Version 5 | Bloomberg: THBEV SP | Reuters: TBEV.SI Refer to important disclosures at the end of this report DBS Group Research . Equity 23 Nov 2016 BUY Identifying scenarios to unlock value Last Traded Price ( 22 Nov 2016): S$0.87 (STI : 2,822.20) Long-term BUY, TP: S$1.09. We see ThaiBev being in a Price Target 12-mth: S$1.09 (26% upside) transformational mode to morph into a regional player. While investors may be deterred with uncertainty surrounding the Potential Catalyst: Acquisitions, restructuring extent and impact from mourning period in Thailand, we believe Where we differ: Below, probably due to adjustment of FYE to Sep its resilience and its ongoing transformation into a regional Analyst Andy SIM CFA +65 6682 3718 [email protected] beverage player will aid in further re-rating of the counter. We would advocate accumulating on pullbacks. What’s New Acquisition, restructuring and earnings accretion to be a re- • Reiterate positive view of transformation into a rating catalyst. We see FNN as the vehicle for ThaiBev’s regional regional beverage player acquisition strategy. We estimate that ThaiBev/ FNN collectively • Restructuring unlikely to take “asset swap” route have sufficient firepower to undertake acquisitions to the value of around S$4bn. On the back of this, we expect FNN to • Accretive acquisition a key catalyst, along with undertake equity fund raising, thereby allowing ThaiBev to raise restructuring; group has ample firepower its stake in FNN. In a scenario (pg 4), assuming a S$3bn • Mourning period impact likely to be limited acquisition by FNN, we estimate an EPS accretion of 16-35% and 8-10% for FNN and ThaiBev respectively (through a mix of cash, debt and rights issue at a multiple of 20-25x). -
Thai Beverage Equity Research Singapore| Consumer Staples Rating BUY (As at 7 December 2020) Last Close SGD 0.73 Fair Value SGD 0.89
Equity Research 7 December 2020 Company update Chu Peng Thai Beverage Equity Research Singapore| Consumer Staples Rating BUY (as at 7 December 2020) Last Close SGD 0.73 Fair Value SGD 0.89 Gradual recovery ahead Security information • Resilient Spirits sales Ticker THBEV SP Market Cap (SGD b) 18.2 • Food business saw greater impact from Covid-19 Daily turnov er (SGD m) 21.8 • Domestic beer market share reached 12-year high Free Float 32% Investment thesis Shares Outstanding (m) 25,116 Top Shareholder SIRIWANA COMPANY 45.3% Thai Beverage PLC’s (ThaiBev) results were above ours and the street’s expectations due to better-than- Price performance chart expected sales volume and lower costs. FY20 revenue 1.1 4,046 decreased by 5.2% YoY to THB 253.5b due to weaker 1.0 3,546 sales from Beer, Nonalcoholic and Food business, 0.9 3,046 partially offset by an increase in sales of Spirits while 2,546 0.8 PATMI was down 2.2% YoY to THB 22.8b. Spirits business 2,046 0.7 remained resilient amid Covid-19 due to its off-premise 1,546 consumption nature while Food business saw greater 0.6 1,046 impact from Covid-19 with the closure of department 0.5 546 stores and restaurants. ThaiBev is currently trading at a 0.4 46 blended forward P/E of 15.3x which is near 1 s.d. below Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 its 5-year average of 15.4x. We think the valuation is THBEV SP Equity STI Index (RHS) undemanding given the positive development of vaccines, ThaiBev’s strong brand name and product portfolio, and policy stimulus from the government Financial summary which could aid the recovery of consumption. -
Ssb3: Debit Card Updates / / / / /
SSB3: DEBIT CARD UPDATES If only Part A or B is completed, please send to: DBS Bank Ltd – Credit Ops, 2 Changi Business Park Crescent, #07-03, DBS Asia Hub, S486029. If only Part C is completed, please send to: DBS Bank Ltd – Account Services, Simpang Bedok Post Office, PO Box 215, Singapore 914808, unless otherwise stated. If Part A, B and C are completed, please send to: DBS Bank Ltd – Credit Ops, 2 Changi Business Park Crescent, #07-03, DBS Asia Hub. Name: IC/ Passport No.*: Existing Debit Card (“Card”) No.: PART A: Instruction for POSB Multitude, Takashimaya Debit, Capita Debit, DBS SUTD, DBS NUSSU, HomeTeamNS-PAssion-POSB or SAFRA DBS Debit Card ☐ Lost (Please call Lost Card No. at 18001111111 immediately to report loss of your Card.) ☐ Non-receipt ☐ Damaged / Faulty Card* (Existing PIN to be used with the new Card issued.) Replace Card due to: ☐ Change of name embossed on the Card to: (Max 19 characters. Existing PIN to be used with the new Card issued.) ☐ Retained at ATM. Location: Change of Language Choice: ☐ English ☐ Selection at ATM PART B: Instruction for POSB GO! Debit MasterCard, PAssion POSB Debit Card, DBS Visa Debit, DBS UnionPay Debit, DBS Treasures Visa Debit, DBS Treasures Private Client Visa Debit or DBS Private Banking Visa Debit Card ☐ Lost (Please call Lost Card No. at 18001111111 immediately to report loss of your Card.) ☐ Non-receipt Replace Card due to: ☐ Damaged / Faulty Card (New Card and PIN will be sent in two separate mailers) Note: A $5 Debit Card replacement fee ☐ Change of name embossed on the Card to: is applicable for Lost Card (Max 19 characters) ☐ Retained at ATM. -
DBS Bank Our Approach to Responsible Financing
DBS Bank Our Approach to Responsible Financing September 2020 DBS Bank Our Approach to Responsible Financing 1 Introduction ................................................................................................................................... 3 Governance Structure ................................................................................................................... 3 Environmental, Social and Governance Risk Management ........................................................... 3 Development of Green Products ................................................................................................... 7 Sector Guides ............................................................................................................................... 8 Agriculture - Palm Oil ......................................................................................................................... 8 Agricultural commodities ex. Palm Oil ............................................................................................. 9 Animal Husbandry and Feed .......................................................................................................... 10 Apparel, Footwear and Textiles ..................................................................................................... 10 Chemicals .......................................................................................................................................... 11 Energy – Oil & Gas..........................................................................................................................