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Asia

Singapore Shares Remain in Red; DBS Sheds

Singapore shares remained stuck in negative territory as regional stocks in Asia took a beating over inflation worries, driven mainly by rising oil prices and Iran's stance over the ongoing war with the US.The Straits Times Index, a key benchmark for the Singapore Exchange, ranged between 5,684.06 and 5,712.89 throughout Thursday. It ended the session at 5,689.75, down 39.88 points, or 0.7%, from Wednesday's close.On the corporate front, DBS (SGX:D05) closed nearly 1% lower as it figured into a lawsuit seeking SG$1.298 billion in damages related to 1Malaysia Development recovery efforts."DBS has consulted its legal advisers, and categorically rejects and will vigorously resist the Claim," the company said. "It is a matter of public record that there have been global recovery efforts relating to 1MalaysiaDevelopment Berhad, supported by legal counsel since 2018. All this time, there was no claim against DBS. DBS has assessed that no provisions are required at this stage"Meanwhile, Keppel DC REIT (SGX:AJBU) was down over 1% as it unveiled plans to issue 297.6 million new units on Thursday to raise SG$625 million through private placement.

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DBS Rejects SG$1.3 Billion Lawsuit Linked to 1MDB Recovery Efforts
US Markets

DBS Rejects SG$1.3 Billion Lawsuit Linked to 1MDB Recovery Efforts

DBS Bank (SGX:D05) said it "categorically rejects" a lawsuit seeking about SG$1.298 billion in damages related to 1Malaysia Development Berhad (1MDB) recovery efforts.The claim was filed by Affinity Equity International Partners, Blackrock Commodities (Global), Platinum Global Luxury Services and TKIL Global Investments, all of which are in liquidation, DBS said in a Wednesday announcement.The lawsuit was also filed by their liquidators, Jason Aleksander Kardachi and Karnjote Singh s/o Jarmal Singh, according to the bank.DBS said it has consulted its legal advisers and "will vigorously resist" the claim. The bank has assessed that no provisions are required at this stage.The lawsuit is the latest in a series of wide-ranging efforts to recover funds allegedly misappropriated from 1MDB.U.S. investigators have said about $4.5 billion was stolen from the Malaysian state fund between 2009 and 2014 in a complex scheme spanning multiple countries.DBS said global recovery efforts related to 1MDB have been a matter of public record and have been supported by legal counsel since 2018.During that period, there had been no claim against the Singapore lender, according to its statement.In July last year, liquidators seeking to recover funds linked to 1MDB sued Standard Chartered Bank in Singapore, alleging the lender enabled fraud that resulted in more than $2.7 billion in financial losses between 2009 and 2013.The latest claim adds to the legal fallout from the long-running 1MDB scandal, as liquidators and other parties continue efforts to trace and recover assets tied to the fund.

SGX:D05
Asia

DBS Rejects $SG1.30 Billion Lawsuit Linked to 1MDB Scandal

DBS Group Holdings (SGX:D05) has been hit with a lawsuit seeking SG$1.30 billion in damages linked to the multibillion-dollar 1MDB scandal, according to a Wednesday filing to the Singapore Exchange.The lender "categorically" rejected the claim and said it will "vigourously resist" the legal action. DBS added that, following an internal assessment, no financial provisions are required at this stage.The lawsuit was filed by Affinity Equity International Partners, Blackrock Commodities (Global), Platinum Global Luxury Services, and TKIL Global Investments. All four of the companies are under liquidation.Jason Aleksander Kardachi and Karnjote Singh s/o Jarmal Singh, liquidators of the four claimants, are also part of the lawsuit against DBS.DBS noted that global recovery efforts involving legal counsel have been publicly active since 2018, following the 1Malaysia Development financial fraud that siphoned more than $4.5 billion from Malaysia's state development fund between 2009 and 2015.

SGX:D05
Asia

DBS Group, Citi Tie-Up for Instant Cross-Border Payments

DBS Group Holdings Ltd (SGX:D05) has partnered with financial services peer Citi to execute cross-border payments outside traditional banking hours, according to a Monday statement by the company.The first tokenized US dollar payment between Singapore and the US was executed by the two companies on Saturday.The transaction was completed in minutes by DBS and Citi's New York office using tokenised deposits via the Swift Digital Ledger. This was a sharp improvement from the industry norm of up to two business days for cross-border payments, the company said.

SGX:D05
Treasury

DBS Bank Files for Singapore Listing of EUR2 Billion Bonds

DBS (SGX:D05) unit, DBS Bank, filed for the listing of EUR2 billion 3.239% covered bonds due 2031 on the Singapore bourse, according to a filing with the Singapore Exchange on Wednesday.The bonds will be listed and quoted on the Bonds Market on Aug. 27, the filing said.

SGX:D05
Asia

DBS Group, Institute of Banking and Finance to Upskill Singapore's Financial Sector Workforce

DBS Group Holdings Ltd (SGX:D05) has entered into a memorandum of understanding with the Institute of Banking and Finance Singapore to upskill Singapore's financial sector workforce, according to a Monday filing to the Singapore stock exchange.Under the pact, the two parties will focus on artificial intelligence and workforce development in Singapore's financial sector, including foundational AI training through IBF platforms.It will also provide support for employees whose roles are being reshaped by AI by leveraging IBF's job redesign and reskilling career conversion program and DBS' upskilling experience. They will also help expand the pipeline of younger entrants into the industry.DBS also launched a new career advisory service to provide employees with human-led career guidance, which will initially have more than 100 career advisers from within the bank.

SGX:D05
Asia

Market Chatter: DayOne Data Centers Reportedly Eyes HK$1.86 Billion Loan to Finance Hong Kong Data Center

DayOne Data Centers is in discussions with a consortium of banks to obtain a five-year facility worth HK$1.86 billion, Bloomberg reported citing people familiar with the matter.The company aims to use proceeds for refinancing and capital expansion for its data center in Hong Kong, according to the people.The consortium includes DBS Group (SGX:D05), Oversea-Chinese Banking Corp. or OCBC (SGX:O39), and United Overseas Bank (SGX:U11), Bloomberg said.The move comes ahead of the company's IPO in the US.DayOne Data Centers did not immediately respond to' request for a comment.(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.)

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Asia

Market Chatter: DBS Works on Succession Planning of Chairman

DBS Group (SGX:D05) is considering a succession plan for Chairman Peter Seah, who has headed the Singapore lender's board for over 16 years, Bloomberg News reported Wednesday, citing people familiar with the matter.He also chairs DBS' Hong Kong unit and Singapore Airlines, and is a board member of GIC and the Council of Presidential Advisers.In response to' request for a comment, DBS said Seah continues to serve as its non-executive chairman.(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
Treasury

DBS Bank Files for Singapore Listing of AU$500 Million Bonds

DBS Group's (SGX:D05) DBS Bank filed for the listing of AU$500 million floating-rate bonds due 2028 on the Singapore bourse, according to a filing with the Singapore Exchange on Tuesday.The bonds will be listed and quoted on the Bonds Market on Aug. 19, the filing said.Shares of the banking group were down 1% in recent trade.

SGX:D05
Asia

DayOne Secures SG$530 Million Green Loan for First Singapore Data Center

DayOne has secured a four-year SG$530 million green loan from DBS (SGX:D05), Oversea-Chinese Banking Corp. or OCBC (SGX:O39) and UOB (SGX:U11) to support the development of its first data center in Singapore, according to a company release on Tuesday.The loan will fund a 20-megawatt data center, which broke ground in July 2025, and is expected to become operational by the first quarter of 2027.The three banks acted as joint mandated lead arrangers, bookrunners and green loan coordinators of the facility.

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Asia

Singapore Shares Close Friday in the Green Amid Earnings Buzz

Singapore shares were firmly in the green at the close on Friday, echoing investor sentiment that looked beyond geopolitical tensions, and amid another busy day for corporate earnings updates.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,644.56 and 5,700.07 throughout the day. It ended the session at 5,698.43, up 59.44 points or 1.05% compared to Thursday's close.DBS (SGX:D05), the exchange's biggest company by market cap, helped drive gains as it closed 1.67% in the green."DBS Group Holdings (DBS) reported a record net profit of S$3,079m for 2Q26 (+9% yoy and +5% qoq), which was above our expectation of S$2,821m," UOB Kay Hian said in a note, with analysts keeping the stock at buy with a price target of SG$80. "We raised our net profit forecasts by 3.9% for 2026 and 3.5% for 2027 due to stable NIM starting 2H26 and higher non-interest income."Also in earnings news: Elite UK REIT's (SGX:MXNU) was up over 3% as its distribution per unit moved up by 0.6% during the first half to 0.0155 pound sterling from 0.0154 pounds a year earlier. Meanwhile, AvePoint's (SGX:AVP) shares closed over 1% lower as its net income attributable to common stockholders for the second quarter of the year surged to $27.6 million from $2.9 million a year earlier.

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Asia

DBS Group's Net Profit Rises 9% in Q2

DBS Group's (SGX:D05) net profit rose 9% to SG$3.08 billion in the second quarter from SG$2.82 billion a year ago, according to a Thursday filing to the Singapore Exchange.Earnings per share climbed to SG$4.33 from SG$3.98 a year earlier, the bank said.Total income in Q2 also increased 6% year over year to SG$6.09 billion from SG$5.73 billion.The board declared an ordinary dividend of SG$0.66 per share and a capital return dividend of SG$0.15 per share for the second quarter.

SGX:D05
DBS Posts Record Quarterly Profit on Strong Fee Income, Wealth Management Growth
US Markets

DBS Posts Record Quarterly Profit on Strong Fee Income, Wealth Management Growth

DBS Group (SGX:D05) posted a record second-quarter net profit, boosted by higher fee income and wealth management growth that offset a decline in net interest income as interest rates fell.Net profit rose 9% year over year in the second quarter to SG$3.08 billion from SG$2.82 billion, with earnings per share growing to SG$4.33 from SG$3.98 a year earlier, according to its earnings statement published Thursday.Total income rose 6% to a record SG$6.09 billion from SG$5.73 billion, crossing the SG$6 billion mark for the first time.Net interest income, the bank's largest revenue source, fell 2% in the second quarter to SG$3.58 billion from SG$3.65 billion a year prior. DBS attributed the drop to lower interest rates. However, the bank noted that strong loan and deposit growth, in addition to proactive hedging, helped offset most of the impact.Net fee income in the second quarter jumped 25% year over year to SG$1.46 billion, which marked the second-highest quarterly level on record, owing to a 42% jump in wealth management fees to a record SG$919 million.By the end of June, customer loans ballooned to SG$469.4 billion from SG$445 billion at the start of the year, driven by growth in non-trade corporate lending. Deposits rose 4% to SG$638.2 billion from SG$610 billion over the same period.For the first half, attributable net profit climbed 5% year over year to SG$6.01 billion, with earnings per share rising to SG$4.25 from SG$4.04.Total income in the January-June period edged up 3% to SG$12.04 billion, with net interest income dropping 3% to SG$7.08 billion and group net interest margin narrowing 20 basis points to 1.88%.DBS declared a quarterly ordinary dividend of SG$0.66 per share and a capital return dividend of SG$0.15, bringing the first-half payouts to SG$1.32 and SG$0.30 per share, respectively.The bank raised its full-year guidance, with total income expected to exceed 2025 levels and group net interest income expected to "close the gap to 2025 levels." It expects cost-income ratio to be in the low-40% range after booking 39% by the end of the first half.

SGX:D05
Asia

MAS, Singapore Banks Launch AI Cyber Taskforce

The Monetary Authority of Singapore and the Association of Banks in Singapore (ABS) have established a task force to combat emerging threats from frontier AI models, according to a statement on Tuesday.The AI-Driven Cyber and Technology Risk Taskforce (ACT) brings together leaders from MAS, ABS, major banks DBS Group (SGX:D05), OCBC (SGX:O39), and UOB (SGX:U11).Other members include the Singapore Exchange (SGX:S68), Network for Electronic Transfers or NETS, and Banking Computer Services or BCS.The task force will facilitate industry-wide sharing of AI cybersecurity use cases, conduct proof-of-concept trials for advanced AI-enabled defense tools, and develop guidance to help financial institutions better detect and prevent AI threats.

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Asia

Market Chatter: DBS Targets More Than SG$1 Trillion in Assets Under Management by 2030

DBS (SGX:D05) is looking to accumulate more than SG$1 trillion in assets under management across its segments by 2030, according to a Business Times report, citing group executive, Shee Tse Koon on Tuesday.The bank is stepping up investments in AI, partnerships and regional expansion, and will hire 600 front-line advisers and platform engineers by 2028, the report said.The bank's wealth AUM reached SG$492 billion during the first quarter of the year, with around 58% of wealth assets deployed in investment products, the report noted.DBS is also looking to add 18 wealth centers across core regional markets and has also outlined plans to hire across Dubai and London, 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
Asia

DBS Group Files for Singapore Listing of 1.2 Billion Yuan Bonds

DBS Group (SGX:D05) filed for the listing of 1.2 billion yuan worth of 1.90% fixed-rate bonds due 2031 on the Singapore bourse, according to a filing with the Singapore Exchange on Wednesday.The bonds will be listed and quoted on the SGX Bonds Market on July 10, the bank said.

SGX:D05
Asia

Singapore's Straits Times Index Extends Rally Above 5,400 Points on Bank Stock Gains

Singapore's Straits Times Index rallied above 5,400 points at market open on Thursday, owing to strong gains by local bank stocks ahead of the second-quarter corporate earnings season in early August.The STI, a key benchmark for the Singapore Exchange, rose in early trade by 0.7%, or 36.45 points, to open at 5,406.020.Strong institutional inflows pushed Singapore bank stocks to record highs on Thursday, with DBS Group (SGX:D05) briefly crossing SG$70 for the first time. Oversea-Chinese Banking Corporation (SGX:O39) and United Overseas Bank (SGX:U11) also hit new peaks, pushing the STI as investors positioned ahead of the earnings season and sought to secure first-half dividend payouts.

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Asia

DBS Group to Partner With Samsung Securities on Wealth Management

DBS Group (SGX:D05) said it was partnering with Samsung Securities (KRX:016360) to advance wealth management collaboration across Asia, according to a Thursday statement.Under the memorandum of understanding, both sides will explore offering DBS clients access to the South Korea market. In return, Samsung Securities' clients will see access to DBS' global wealth solutions.

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Asia

Singapore Shares Incur Losses as Confusion Reigns Over US-Iran Potential Meeting

Singapore shares crashed nearly 1% at the close on Tuesday, with Iran denying claims of requesting a meeting with the US following exchange of strikes last week.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,164.01 and 5,213.01 throughout the day. It ended the session at 5,170.65, down 38.10 points or 0.7% compared to Monday's close.On the corporate front, shares of Soup Holdings (SGX:5KI) were up over 4% at the close even as it forecasted a net loss for the fiscal half ended Dec. 31.DBS Group (SGX:D05) was down nearly 1% as it completed its inaugural synthetic securitization transaction, referencing a $1 billion diversified portfolio of corporate loans.Meanwhile, shares of Nam Cheong (SGX:1MZ) were down nearly 1% as its unit, Nam Cheong Pioneer, established a new subsidiary in the UAE named, SK Marine Ships Management and Operation.

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Asia

DBS Group Completes Inaugural Synthetic Securitization Transaction

DBS Group (SGX:D05) completed its inaugural synthetic securitization transaction, referencing a $1 billion diversified portfolio of corporate loans, according to a company release on Tuesday.The exercise was the first significant risk transfer transaction undertaken by a Singapore bank.Following the deal, a portion of the referenced portfolio's credit risk will be transferred to investors, allowing the bank to reduce regulatory capital held against assets and redeploy it toward new lending.Meanwhile, the bank will continue to own and service its underlying loans.

SGX:D05

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