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DBS
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sharenoob1984
Veteran |
29-Apr-2020 13:35
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anyone longing DBS? i think tomorrow may up on results
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Starship
Supreme |
29-Apr-2020 11:09
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All the Prophets of Doom in this thread have been predicting the demise of DBS since the last oil crash in 2014.   
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NT1825
Master |
29-Apr-2020 10:52
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It is a good sign. The market has factored in the news. The rest will follow.
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john_ric
Supreme |
29-Apr-2020 10:34
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whatever analysis said, banking counters keep going up day by day. |
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NT1825
Master |
29-Apr-2020 09:00
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Agree we will be facing the new norm soon. Noted some heavy selling yesterday at 5.04pm, could be after this report published
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AhLiang
Elite |
28-Apr-2020 21:42
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No matter how the government support, some companies just can't afford to keep their employees. Many jobs lost during this crisis will be lost forever. Now there is a common word that we hear everyday : Virtual this and virtual that. This is not something good for many businesses, one of which SIA, because it has been proven in this crisis that many things can be done without people travelling to meet face to face with one another.
The demand for infrastructure will shrink because many business and social requirements can be carried out from the comfort of the home. Many businesses and the jobs they used to create will die as a result. A sad thing for the future generations.
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NT1825
Master |
28-Apr-2020 21:00
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The latest report is out - read researchers from MAS:-
Jobs support cushions blow but layoffs, unemployment will still rise: MAShttps://www.businesstimes.com.sg/government-economy/jobs-support-cushions-blow-but-layoffs-unemployment-will-still-rise-mas
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AhLiang
Elite |
28-Apr-2020 20:15
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Usually banks scratch one another''s back. But this time round, DBS only gives OCBC''s target price as $7.90 and UOB as $17.50. | ||||
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madboysg
Member |
28-Apr-2020 19:56
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I suspected market is buying up for the Q1 result to release on 30 Apr 2020. If result is acceptable (still a profit, however lower), profit taking. If result is bad, got room to sell down.
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hlfoo2010
Master |
28-Apr-2020 17:17
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Coronavirus: Top NYC doctor takes her own lifehttps://www.bbc.com/news/world-us-canada-52451094 |
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Joelton
Supreme |
28-Apr-2020 10:31
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Coronavirus: DBS expects Singapore' s GDP to shrink by 5.7% this yearSingapore' s decision to keep a large segment of its economy closed and many of its residents at home for another month will lower economic growth and raise job losses, said analysts. DBS Bank became the latest to cut its estimates of how Singapore' s gross domestic product and employment would pan out this year, after earlier downgrades by OCBC Bank, UOB Group and Maybank. DBS now expects the economy to shrink 5.7 per cent this year, a far steeper fall than the 2.8 per cent drop it had predicted earlier. Retrenchments may spike to 45,600, far higher than in any of the past recessions, while the resident unemployment rate could rise to a seasonally adjusted 4.2 per cent, said the bank. Should Singapore fail to contain the outbreak by the end of the circuit breaker on June 1, GDP could shrink by as much as 7.8 per cent, said the bank' s senior economist Irvin Seah in a report yesterday. The circuit breaker was extended after a spike in infections at dormitories housing foreign workers, pushing the number of Covid-19 cases in Singapore to the highest in South-east Asia. The tighter new measures will take a heavier toll on businesses already struggling with poor earnings and weak cash flows, DBS said. The Government has offered more help to businesses and their employees, taking the total fiscal response to the pandemic to $63.7 billion. Without government help, the economic pain could have been even more acute, Mr Seah noted, adding that services and construction are two sectors that will be hardest hit by the circuit breaker extension. " The extension to June 1, though necessary to contain the outbreak, will be a nail in the coffin for many locally oriented industries, for example, construction, retail, F& B, business services." The relief measures will help, but some businesses on a weaker financial footing may not survive this crisis - implying a spike in companies folding up, bankruptcies and job losses ahead, Mr Seah said. Though resident workers account for about 62 per cent of the total workforce, DBS senior economist Irvin Seah said, proportionately fewer local workers are likely to be retrenched on account of policy measures aimed at safeguarding their jobs. Companies may have to shed more headcount to bring manpower costs in line with the fall in earnings, he added. Though resident workers account for about 62 per cent of the total workforce, he said, proportionately fewer local workers are likely to be retrenched on account of policy measures aimed at safeguarding their jobs. He added that while foreign workers will account for the bulk of the retrenchments, resident unemployment will still rise. DBS Bank' s GDP growth estimates for the year are now lower than government guidance of minus 4 per cent to minus 1 per cent. As for other banks' GDP predictions, some are more dire than DBS' while others are rosier. OCBC expects Singapore to suffer an even more severe recession. Ms Selena Ling, its head of research and strategy, said a contraction of 6 per cent to 10 per cent cannot be ruled out. The bleaker end of the range assumes that a recovery may be delayed as business and consumer confidence remains dented into the third quarter and any second-half stabilisation is even more subdued than earlier expected, she said. UOB economist Barnabas Gan downgraded Singapore' s growth to minus 4 per cent, down from a previous estimate of minus 2.5 per cent. Maybank has cut its GDP forecast for this year to minus 7 per cent, from minus 6 per cent, due to the extension of the circuit breaker. It sees a much larger impact on employment, with job losses expected to reach 200,000. More than half of those losses will be borne by foreigners, Maybank analyst Chua Hak Bin said last week. https://www.straitstimes.com/business/economy/dbs-expects-singapores-gdp-to-shrink-by-57-this-year |
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AhLiang
Elite |
28-Apr-2020 09:25
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I wonder who were the ones chionging DBS yesterday and today. Today there are so many negative points on banks on page 20 of ZaoBao. TP given by various banks only from $17.50 to $21.99. It is not the worst yet. | ||||
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sharenoob1984
Veteran |
27-Apr-2020 17:57
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yeah, i am slightly lucky this time, i was chopped by DBS during the first time i got a home loan. Funny thing is foreign banks offer such low rates, will local banks stay put or reduce their rates accordingly. Shall see over the course of few months.
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satruz
Master |
27-Apr-2020 15:45
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i see..... i expect the rates to go down further, but still a good time to look at refinancing now
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sharenoob1984
Veteran |
27-Apr-2020 15:38
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yeah, 1.6 ish% was a month ago or so? i checked yesterday, lowest in sg is less than 1.5% now (not our local banks).
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satruz
Master |
27-Apr-2020 15:30
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I tot their lowest fixed rate is ard 1.6%+? Good if u can get at less than 1.5% fixed rate. Other banks can only offer 1.4x% for Sibor packages.
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sharenoob1984
Veteran |
27-Apr-2020 15:27
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something interesting to share. i was enquiring abt refin for mortgage. the lowest interest rate for fixed rate lock-in 3 years is less than 1.5% now. so its a fact that declining margins in the near term plus bad debts should weight down on bank earnings. i recall DBS had the best NIM among 3 local banks, ard 1.9% ish at economy' s prime?
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john_ric
Supreme |
27-Apr-2020 14:03
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right.
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FATABA
Supreme |
27-Apr-2020 13:43
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What good news are u expecting ... result not as bad as expected ?
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lighter87
Master |
27-Apr-2020 13:20
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the world stock market is basically following usa movement. wait until the whales sell finish in US side first then market will drop. DBS will follow suit | ||||
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