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SGX:D05

11 stories mentioning SGX:D05

Every FINWIRES story that references SGX:D05, newest first.

Asia

Singapore Exchange to Launch OTC Gold-Clearing System in 2026

The Singapore Exchange plans to establish an over-the-counter (OTC) gold clearing system for Loco Singapore this year, the Monetary Authority of Singapore said Monday.Major banks such as JPMorgan Chase & Co., DBS Group Holdings (SGX:D05), Oversea-Chinese Banking Corporation (SGX:O39), United Overseas Bank (SGX:U11), ICBC Standard Bank, and Deutsche Bank AG will act as clearing members, with plans for inter-bank trading expected to be operational from 2027, the release said.These banks will work with the Singapore Exchange to enhance the Loco Singapore gold market, improve price discovery, and build trading activities, it said.The Monetary Authority of Singapore will introduce central bank gold vaulting services by October.Shares of Oversea-Chinese Banking Corporation added over 1%, while those of United Overseas Bank increased about 1% at market close.

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Asia

DBS Launches Tokenized Physical Gold for Retail Customers

DBS (SGX:D05) launched DBS Physical Gold Tokens, a tokenized physical gold offering for retail customers, according to a company release on Thursday.The tokens will be available to customers through the DBS digibank platform in the second half of 2026.Each token is backed by one gram of physical gold stored in a dedicated DBS vault in Singapore, with the bank managing everything in-house.Customers will be able to buy, sell, hold, and redeem the tokens for physical gold through a single platform.DBS said the offering aims to expand access to gold investing while supporting Singapore's position as a gold trading hub.

SGX:D05
Asia

Singapore's Proposed TLAC Framework May Impact Banks' Support Ratings, Fitch Says

The Singaporean central bank's proposal for a total loss-absorbing capacity (TLAC) framework could impact banks' support ratings, Fitch Ratings said in a Thursday release.The "aa-" government support rating for the country's three major local banks are in line with their viability ratings, serving as a backstop to their AA- issuer default ratings, Fitch said.The rating agency may not consider government support for markets with credible banks resolution and expectations of senior debt being bailed in.With this, the equilibrium between DBS Group Holdings (SGX:D05) and DBS Bank's ratings may shift if Fitch removes government support as a factor.The Monetary Authority of Singapore's propose external TLAC of 14% of risk-weighted assets of local domestic systemically banks is below the 18% minimum for global ones, Fitch said.The central bank also does not push for a TLAC leverage ratio requirement given the smaller size of varied risk profiles of the domestic banks.The proposal will also not force United Overseas Bank (SGX:U11) and Oversea-Chinese Banking (SGX:O39) to issue any additional debt, reflecting the wider flexibility in the proposed ways for banks to meet the TLAC requirement, Fitch said.

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Asia

Market Chatter: DBS Group to Establish Two New Wealth Centers in Singapore

DBS Group (SGX:D05) plans to establish two new wealth centers in Singapore by the end of 2027 to meet rising demand for its wealth management services, The Straits Times reported Monday.The wealth centers will complement the bank's existing DBS Treasures centers in the city-state.The centers are designed to offer services, including portfolio advisory to affluent and high-net-worth customers, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SGX:D05
International

Fitch Ratings Expects Singapore's Major Banks to Maintain Performance in 12-18 Months

Fitch Ratings expects Singapore banks DBS Group (SGX:D05), Oversea-Chinese Banking Corp. (SGX:O39) and United Overseas Bank (SGX:U11) to continue delivering solid performance over the next 12 to 18 months, according to a release late Thursday.The forecast comes despite increased uncertainty across the globe, with risks linked to banks' lower-rated overseas market and the length and severity of conflict in the Middle East.While all three banks have been reporting slower profitability due to lower interest rates, fee income growth due to wealth management segments has ensured strong financial performances.

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Asia

DBS Group to Liquidate Subsidiary Primefield

DBS Group (SGX:D05) commenced voluntary liquidation proceedings for its indirect subsidiary, Primefield Company, according to a Friday filing with the Singapore Exchange.The subsidiary is a dormant entity, the financial services group said.

SGX:D05
US Markets

OCBC Acquires HSBC Indonesia's Wealth, Retail Business, Adding SG$6.6 Billion in AUM

Oversea-Chinese Banking Corporation (SGX:O39) or OCBC, agreed to acquire the retail and wealth management business of HSBC (HKG:0005)'s Indonesian arm.The deal, executed through its subsidiary PT Bank OCBC NISP Tbk, involves the transfer of assets and liabilities of HSBC Indonesia's International Wealth and Premier Banking business, according to a Monday press release.The acquisition will expand OCBC's Indonesia platform by about SG$6.6 billion in assets under management and 336,000 customers.The portfolio includes SG$4.3 billion in customer investments across mutual funds, bonds, and insurance, as well as SG$2.3 billion in deposits and a retail loan book of about SG$0.3 billion.Total consideration will be based on net asset value at completion, with a premium of up to about SG$0.48 billion, subject to adjustment mechanisms."This acquisition in Indonesia fits well into our Next Frontier strategy under the Franchise Shift of building up our Indonesia franchise," Tan Teck Long, Chief Executive Officer of Oversea-Chinese Banking Corporation, said."Indonesia is a long-term commitment, and a key growth market," he added.The SG$2.3 billion deposit base, including sizable low-cost CASA balances, provides stable funding and opens up further wealth management opportunities, Long said.The deal is expected to be completed in the second quarter of 2027 and will be internally funded, with no material impact anticipated on OCBC's net tangible assets, earnings per share, or capital.IWPB Indonesia operates across 26 branches and is one of the largest foreign-owned retail and wealth platforms in the country.Upon completion, OCBC expects the deal to increase its Indonesia unit's AUM by about 25% and boost credit card balances by more than 150%, while adding around 1,300 employees to strengthen its wealth management capabilities.The news confirms a Bloomberg report in mid-April about OCBC emerging as the lead bidder for the assets. Bloomberg previously reported that Singapore's DBS Group (SGX:D05) and United Overseas Bank (SGX:U11), Malaysia's CIMB Group (KLSE:CIMB) and Japan's Sumitomo Mitsui Financial Group (TYO:8316) were in the running for the business.

HKG:0005KLSE:CIMBSGX:D05SGX:O39SGX:U11TYO:8316
Research

Macquarie Upgrades DBS Group to Neutral from Underperform; Price Target is SG$52.38

DBS Group (SGX:D05) has an average rating of overweight and mean price target of SG$60.12, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

SGX:D05
Asia

Singapore Shares Surge More Than 1% as DBS Books Record Total Income

Singapore shares zoomed over 1% at the close on Thursday, with the market buoyed by DBS (SGX:D05) driving investor sentiment after posting record net income for the first quarter of the year.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,880.67 and 4,917.19 throughout the day. It ended the session at 4,912.69, up 51.72 points or 1.1% compared to Wednesday's close.The bank's shares closed over 3% higher with its total income up 1% year over year to SG$5.95 billion from SG$5.91 billion.Meanwhile, Asian markets remained positive, boosted by progress made by Japan and the US over tariff negotiations.In economic news, Singapore's manufacturing prices jumped 20.3% year over year in March, extending the 5.4% increase in the previous month, the city-state's Department of Statistics reported.Meanwhile, Singapore's Export Price Index rose 8.4% year on year in March, reversing a 4.2% decline in the preceding month.Singapore's total employment grew by 5,000 during the first quarter of the year, compared to 2,300 a year earlier, marking the 18th consecutive quarter of job growth, according to preliminary data from the Ministry of Manpower.Lending activity in Singapore expanded in March, with total loans and advances to residents rising to SG$902.3 billion from SG$893.6 billion in February, according to preliminary data released by the Monetary Authority of Singapore.In other corporate news, Tianjin Pharmaceuticals Da Ren Tang's (SGX:T14) shares were up nearly 7% at the close as its net attributable profit to owners during the first quarter of the year jumped by 13% to 423.8 million yuan from 374.2 million yuan a year earlier.

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Asia

DBS Group's Net Profit Up 1% in Q1; Shares Climb 4%

DBS Group (SGX:D05) net profit rose 1% in the first quarter to SG$2.93 billion from SG$2.90 billion a year earlier, according to a filing with the Singapore Exchange on Thursday.Earnings per share rose to SG$4.17 compared with SG$4.11 in the year-ago period. Visible Alpha expected an EPS of SG$0.98.Total income was up 1% year over year to SG$5.95 billion from SG$5.91 billion.The board declared an interim one-tier dividend of SG$0.0066 per share and a capital return dividend of SG$0.0015 per share for the period.The dividend is expected to be paid on or about May 20.Shares of the bank were up nearly 4% in Thursday trading.

SGX:D05
Asia

Market Chatter: OCBC Leads Bid for HSBC's Indonesian Consumer Business

Oversea-Chinese Banking (SGX:O39) emerged as the lead bidder for HSBC Holdings' (HKG:0005) Indonesian consumer business, Bloomberg News reported Friday, citing people familiar with the matter.The Singaporean bank's offer values the business at $350 million, the report said, citing the sources.No final decision has been made, with a possibility of other parties joining the bid, the people reportedly said.OCBC and HSBC did not immediately respond to requests for comment from.Bloomberg previously reported that Singapore's DBS Group (SGX:D05), Oversea-Chinese Banking, and United Overseas Bank (SGX:U11), as well as Malaysia's CIMB Group (KLSE:CIMB) and Japan's Sumitomo Mitsui Financial Group were in the running for the business.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005KLSE:CIMBSGX:D05SGX:O39SGX:U11