SINGAPORE, 30 November 2009 - DBS said today its total exposure to the city-state of Dubai is approximately SGD1.8 billion (USD1.28 billion). The bank believes that the situation is manageable as a substantial portion of this is to Dubai-owned companies operating in Asia that are sound, such as Labroy and South Beach, which is collateralised.
As of today, the only credit that is captured under the standstill notice is a SGD558 million (USD400 million) bilateral loan to Dubai World Finance, which represents 0.2% of DBS’ total balance sheet. The bank has no exposure to Nakheel.
DBS’ exposure to the entire Middle East region accounts for around 2% of its balance sheet.
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CreateWealth8888:
With this announcement, will it stop further panic sellling in DBS?
Market Outlook (26/05/12): Selling Eases As Trader Sidelined For News!
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In last week, STI merely fell 6 points from the opening of 2779 and close
lower at 2773. A black candle sticks with long upper lower shadow affirms
that bu...
1 hour ago

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