|Bid||21.78 x 0|
|Ask||21.79 x 0|
|Day's range||21.60 - 21.89|
|52-week range||16.65 - 27.04|
|Beta (5Y monthly)||1.18|
|PE ratio (TTM)||9.58|
|Earnings date||06 Aug 2020|
|Forward dividend & yield||1.23 (5.68%)|
|Ex-dividend date||12 May 2020|
|1y target est||30.14|
China's Nanjing Iron & Steel Co Ltd said on Wednesday it has completed its first blockchain-backed trade in iron ore after booking a $16.87 million shipment of the steelmaking ingredient from a joint venture of miner Rio Tinto. Blockchain, a digital ledger that forms the backbone of many cryptocurrencies such as bitcoin, helps to boost efficiency and transparency. For the past several years, commodities groups have been seeking to save time and money by using blockchain to digitalise a sector that still relies heavily on paperwork, but have come up against obstacles.
Although DBS has been growing consistently over the years, investors should watch out for these three potential stumbling blocks to its growth.The post 3 Looming Risks for DBS Bank appeared first on The Smart Investor.
Chinese buyout firm Hopu is partnering with key shareholders of Perennial Real Estate Holdings, including Wilmar International and its CEO, to take Perennial private in a deal that values it at S$1.58 billion ($1.13 billion). The consortium, which includes firms owned by entrepreneur Ron Sim and Perennial's CEO, said late on Friday that the offer comes at a time when the COVID-19 pandemic has roiled the global economy. Perennial is a Singapore-listed real estate and healthcare firm.
* Thai baht at more than 4-month high * Singapore stocks outpace declines in region By Nikhil Nainan June 11 (Reuters) - Led by Singapore, shares in Asia's emerging markets slipped on Thursday, as the U.S. Federal Reserve's forecasts dented hopes that economies would recover more strongly once lockdowns introduced to slow the coronavirus pandemic are lifted. Bank-heavy Singapore led losses, with the Straits Times Index down 2.5%, outpacing drops of less than 1% in Jakarta, Manila and Kuala Lumpur. The Fed forecast the U.S. economy would shrink at 6.5% this year and promised to keep pumping liquidity into markets.
* Singapore and Indonesia rise over 2% in early trade * Potential stimulus helping Philippine market - analyst * Thailand closed for a holiday By Arundhati Dutta June 3 (Reuters) - Southeast Asian markets extended multi-day rallies on Wednesday, with banks leading gains in several markets as investors focussed on the prospect of an economic rebound across the region. Several regional economies have reopened this week, mirroring restarts elsewhere that have buoyed stock markets globally. Chinese companies' purchase of three cargoes of U.S. soybeans soothed worries about the impact of the scuffle over Hong Kong's autonomy on Beijing's trade relations with the United States.
* Philippines, Indonesia up for fifth day * Singapore hits 2-week high * Thailand hits 3-month peak By Arundhati Dutta June 2 (Reuters) - Southeast Asian markets extended multi-day rallies on Tuesday on optimism over an economic rebound from the coronavirus crisis, but caution prevailed globally due to simmering Sino-U.S. tensions and violent protests in many U.S. cities. The Philippine benchmark rose 1.5% to hit its highest level since mid-March.
* Singapore down after 4 straight session of gains * Financials drag Indonesian stocks lower * Philippines set to extend lockdown in some areas By Pranav A K May 12 (Reuters) - Southeast Asian stock markets fell on Tuesday amid fears of a coronavirus resurgence in China and its implications for countries easing restrictions, while prospects of Sino-U.S. tensions flaring further also weighed on sentiment. The central Chinese city of Wuhan, where the pandemic originated late last year, reported its first cluster of infections since a lockdown was lifted a month ago, casting doubts of a wider resurgence, while the reproduction rate in Germany remained above the critical threshold of 1 on Monday. Meanwhile, U.S. President Donald Trump said he opposed renegotiating the "Phase 1" trade deal with China after a Chinese state-run newspaper reported some government advisers in Beijing were urging fresh talks and possibly invalidating the agreement.
* The Philippines top gainer in region * Malaysia policy decision later in the day * Thailand falls By Nikhil Subba May 5 (Reuters) - Most Southeast Asian stock markets on Tuesday clawed back some ground lost in the previous session, as phased easing of coronavirus restrictions by some countries and U.S. states bolstered hopes of an economic recovery. Sentiment was also aided by a firmer finish on Wall Street overnight, as a rally in tech stocks eclipsed worries about simmering U.S.-China tensions over the coronavirus' origin. Meanwhile, shares of conglomerates Ayala Corp and Metro Pacific Investments Corp climbed 6.8% and 8.8%, respectively, after President Rodrigo Duterte apologised to the firms' owners for his "hurting words".
Hontop Energy (Singapore) Pte Ltd, the trading arm of a Shandong-based refiner, is negotiating directly with banks on managing its debts after it withdrew its application for a debt moratorium, two sources with knowledge of the matter said. Hontop submitted last month a request to the Singapore High Court to apply for a debt moratorium but the company subsequently withdrew it, they said. The company went into receivership in February after Singapore bank DBS, one of Hontop's creditors, appointed accounting firm KPMG as the receiver.
* Singapore at near two-week peak, set for best day since April 14 * DBS Group at 7-week peak after bank retains quarterly dividend * Indonesia hits highest level since April 15 By Nikhil Subba April 30 (Reuters) - Southeast Asian stock markets climbed on Thursday as progress in the development of a COVID-19 treatment and higher oil prices spurred a rally. Falling infection rates and phased reopening of economies around the globe have boosted appetite for equities this week, with early results from a U.S government clinical trial showing that Gilead Sciences Inc's experimental drug remdesivir helped certain COVID-19 patients recover more quickly.
DBS Group Holdings forecast annual profit before allowances at around 2019 levels but set aside record high quarterly provisions due to the coronavirus pandemic which pulled down profit by 29%. "Our record operating performance in the first quarter has given us a head start to face the challenges of the coming year," said CEO Piyush Gupta, adding that DBS would not retrench staff or cut salaries even as it reduces costs elsewhere. Gupta expects annual profit before allowances to be flat and said net interest margins are set to weaken due to lower interest rates.
Singapore's DBS Group Holdings set aside S$1.09 billion ($772.5 million)to cover the impact of the coronavirus pandemic as Southeast Asia's biggest lender reported a 29% fall in first-quarter profit. DBS said provisions for credit losses surged in January-March from S$76 million a year earlier. The bank reported first-quarter profit of S$1.16 billion compared with S$1.65 billion a year earlier, in line with an average estimate of S$1.13 billion from four analysts, according to Refinitiv data.
* Thai stocks hit highest since March 9 * Telecoms lift Indonesia, Singapore By Nikhil Subba April 29 (Reuters) - Southeast Asian stock markets edged higher on Wednesday, as investors cheered easing coronavirus curbs in some parts of the world while awaiting preliminary estimate for first-quarter U.S. economic growth and the Federal Reserve's policy decision. Market participants are now looking for any guidance from the Fed, which is due to issue a policy statement at the close of its two-day meeting later in the day. In Southeast Asia, Thai shares rose as much as 0.9% to their highest since March 9.
Singapore oil trader Hin Leong Trading (Pte) Ltd, which has begun talks with lenders to extend its credit facilities, owes $3.85 billion to 23 banks, two industry sources said on Thursday. The coronavirus pandemic has led to an unprecedented slump in fuel demand and hammered oil prices, making it difficult for trading firms to make a profit. Hin Leong is one of the largest fuel traders in Asia and an operator of a major tanker fleet.
* Indonesia top loser, down 1.7% * Philippines hits highest close in over a month, up nearly 3% * Drop in oil prices pressuring Thai energy sector - analyst By Arundhati Dutta April 15 (Reuters) - Southeast Asian stocks ended mixed on Wednesday, with losses led by Indonesia and Thailand, as warnings of a global recession and a sharp decline in oil prices offset a key interest rate cut by the Chinese central bank. The global economy is expected to shrink by 3.0% this year in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression, the International Monetary Fund said on Tuesday.
* The Philippines leads gains, up 3% * Indonesia c.bank cuts RRR, holds rates * China March exports fall 6.6% y/y By Arundhati Dutta April 14 (Reuters) - Southeast Asian stock markets rose on Tuesday on better-than-expected trade data from China and signs of the coronavirus outbreak peaking in certain hotspots. Data from China, the region's biggest trading partner, showed that exports fell 6.6% in March compared with a year earlier, less than analysts' estimate of a 14% plunge. Big caps Ayala Corp and Bank of the Philippine Islands rose 8.3% and 5.2%, respectively.
* Singapore, Philippines up over 2% * Indonesia c.bank may stay on hold - poll By Arundhati Dutta April 14 (Reuters) - Southeast Asian markets rose in thin trade on Tuesday, tracking broader equities on signs of the coronavirus pandemic peaking, amid high caution ahead of Chinese trade data and an uncertain U.S. earnings season. Singaporean stocks advanced up to 2.4%, hitting their highest level in a month. Heavyweight financials United Overseas Bank Ltd and DBS Group Group Holdings Ltd rose over 2%, each.
* Vietnam up for seventh session * Indonesia recovers from early losses, closes up * Philippines closed for a holiday By Arundhati Dutta April 9 (Reuters) - Southeast Asian stock markets tracked global equities to close higher on Thursday, with gains led by Vietnamese stocks, as investor sentiment was boosted by hopes of the coronavirus pandemic peaking and stimulus efforts by governments. Aiding sentiment, Wall Street notched firm gains overnight after New York's governor said social distancing measures are working to keep the pandemic under control in the hard-hit state.
* Expected oil output cut boosts Thai energy stocks * Vietnam up for seventh session * Indonesia sole loser, Philippines market on holiday By Arundhati Dutta April 9 (Reuters) - Most Southeast Asian stock markets rose on Thursday, tracking an upbeat session on Wall Street, as hopes for the coronavirus outbreak nearing its peak rose, while expectations of a cut in oil output pushed the energy-heavy Thai index higher. New York Governor Andrew Cuomo said on Wednesday the state's efforts at social distancing are working to get the pandemic under control, while U.S. President Donald Trump said he would like to reopen the U.S. economy with a "big bang". Energy stocks rose in tandem with crude futures on expectations that the world's largest oil producers would agree to cut production at a meeting later in the day.
* Thailand leads gains in Southeast Asia * Philippines extends gains to third session * Indonesia falls as financials weigh By Arundhati Dutta April 7 (Reuters) - Most Southeast Asian stock markets tracked Wall Street and Asian equities higher on Tuesday, with Thailand rising the most, although gains were capped following a spike in infections due to the coronavirus in the region. As the number of daily deaths in New York steadied and fatalities slowed across western Europe, all three U.S. main indexes closed more than 7% higher on Monday, lifting Asian equities to their second straight day of gains on Tuesday.
* Vietnam rises as much a 3.7% * Indonesia up for 3rd session, hits 3-wk high By Arundhati Dutta April 6 (Reuters) - Southeast Asian stock markets inched higher on Monday, tracking global equities that gained due to a slowdown in coronavirus-related deaths and new infections. Australia's benchmark index rose 0.5%, Japan's Nikkei gained 0.2% and South Korea's KOSPI index climbed 1.4%, while MSCI's broadest index of Asian shares outside of Japan edged up 0.1% Aiding sentiment further, U.S. stock futures gained more than 1.5% in early Asian trading after U.S. President Donald Trump expressed hope the country was seeing a "levelling off" of the coronavirus crisis.
Moody's downgraded the outlook for Singapore's banking sector to "negative" from "stable", citing risks of rising bad loans and deteriorating profitability due to an economic slowdown and a decline in interest rates amid the coronavirus outbreak. "Credit costs will rise as asset quality worsens, while interest rates will decline due to monetary easing, weighing on net interest margins," the ratings agency said in a report on Thursday. Singapore's three main lenders, DBS Group Holdings Ltd , Oversea-Chinese Banking Corp Ltd and United Overseas Bank Ltd had forecast muted earnings growth for 2020 even before the virus outbreak.
* Malaysia says virus infection curve flattening * Singapore falls for second straight day By Arundhati Dutta April 2 (Reuters) - Markets in Singapore and the Philippines fell on Thursday, tracking their peers in the United States on persisting fears about the coronavirus' spread and a recession, while Malaysian shares rose on reports of a slowing rate of new infections. "Difficult days are ahead for our nation," Trump told reporters at the White House on Wednesday. In Singapore, the benchmark index fell for a second straight day, losing up to 2%.
* Indonesia reverses course, ends 1.6% down * Malaysia posts biggest intraday drop in over a week * Thailand dragged by financials By Arundhati Dutta April 1 (Reuters) - Most Southeast Asian markets ended lower on Wednesday as anxiety about the spreading coronavirus and a looming global recession prevailed over regional government efforts to cushion their economies from the pandemic. PT Bank Central Asia Tbk shed 0.8%.
* Singapore c.bank eases monetary policy aggressively * Malaysia warns of surge in coronavirus cases in mid-April * Indonesia faces calls to tighten movement restrictions By Arundhati Dutta March 30 (Reuters) - Southeast Asian stock markets dropped on Monday as worries over a severe economic damage in the region following a rise in new coronavirus cases outweighed central banks' efforts to calm investor nerves through aggressive policy easing. The number of fresh cases and deaths rose in several countries in the region, with Malaysia warning of a surge in the number of cases in mid-April.