For his part, Gupta says cutting dividends now is “nonsensical” and “a bit of a red herring”. He notes that years of Basel reforms have left banks with “enormous capital reserves” and a clear protocol: to dip first into buffers, then counter-cyclical buffers, and finally into capital reserves. If this is a multi-year problem... banks will likely get to the point where they can’t pay dividends. But promising now to not pay them is, to me, illogical - Piyush Gupta, DBS He points to the number of retirees who own a handful of treasured DBS shares, which they use to leaven their pension pot, noting that eliminating dividends “doesn’t just hit the fat cats but people who just want to supplement their pensions a bit”.
[SINGAPORE] Singapore's DBS Group Holdings set aside S$1.09 billion to cover the impact of the coronavirus pandemic as South-east Asia's biggest lender reported a 29 per cent fall in first-quarter profit to the lowest in 2.5 years.
DBS said provisions for credit losses surged in January-March from S$76 million a year earlier. They were well above an average estimate of S$605 million, according to Refinitiv data.
First-quarter profit fell to 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.
DBS said it set aside the allowances "to accelerate the build-up of reserves", with two-thirds of the amount kept for general allowances to anticipate a "deeper and more prolonged economic impact from the pandemic." The remainder was for specific allowances, mainly for new exposures recognised as non-performing during the quarter.
DBS, which pays quarterly dividends, retained its proposed dividend of 33 Singapore cents per share for the latest quarter. CW8888 :-) With $0.66 (FY 19 + FY 20 Q1) confirmed; it is unlikely that cash flow in 2020 from investment income to be the lowest since 2009
Walan! Lucky; this is not sold to retail investors in SG by banks here.
Read? Losses on Bank of China crude oil investment product could hit $1.3 billion SHANGHAI (Reuters) - Total losses from a structured crude oil product marketed to retail investors by the Bank of China could be more than 9 billion yuan ($1.27 billion), the Caixin financial news outlet reported on Sunday, citing official sources. More than 60,000 individual investors involved in the scheme have lost deposits worth as much as 4.2 billion yuan, it said. A third of the total had invested more than 50,000 yuan each.
One buys, another one sells, someone waits and all three think that they are smart. Read? The stock market is weird. We can really witness such weird behavior in investing/trading forums! Go and see for yourself. LOL!
Round 5: ROC +1.6%, 3 days, B $8.70 S $8.90 Round 4: ROC +5.1%, 35 days, B $8.40 S $8.90 Round 3: ROC +0.5%, 5 days, B $8.55 S $8.65 Round 2: ROC +5.5%, 6 days, B $7.95 S $8.45 Round 1: ROC +1.7%, 6 days, B $8.40 S $8.60
A futures contract for U.S. crude prices dropped more than 100% and turned negative for the first time in history on Monday, showing just how much demand has collapsed due to the coronavirus pandemic.
But traders cautioned that this collapse into negative territory was not reflective of the true reality in the beaten-up oil market. The price of the nearest oil futures contract, which expires Tuesday, detached from later month futures contracts, which continued to trade above $20 per barrel.
West Texas Intermediate crude for May delivery fell more than 100% to settle at negative $37.63 per barrel, meaning producers would pay traders to take the oil off their hands.
This negative price has never happened before for an oil futures contract. Futures contracts trade by the month. The June WTI contract, which expires on May 19, fell about 18% to settle at $20.43 per barrel. This contract, which was more actively traded, is a better reflection of the reality in the oil market. The July contract was roughly 11% lower at $26.18 per barrel.
The international benchmark, Brent crude, which has already rolled to the June contract, settled 8.9% lower at $25.57 per barrel.
A key benchmark of US oil prices plunged to a 21-year low on Monday, amid continued fears about oversupply in the market.
US West Texas Intermediate crude futures (CL=F) dropped over 18% to a low of $14.45 a barrel on Monday morning, a level not seen since 1999. By 8.20am UK time, US crude futures were still down 17.9% to $15.00.
Brent oil futures (BZ=F), the international benchmark, were more resilient. Brent was down just 2.2% to $27.46 per barrel at the same.
“The steep fall in the price is because of the lack of sufficient demand and lack of storage place, given the fact that the production cut has failed to address the supply glut,” said Naeem Aslam, chief market analyst at Avatrade.
Read? Timeline: How the COVID-19 outbreak has evolved in Singapore so far SINGAPORE: It has been more than 12 weeks since Singapore reported its first COVID-case on Jan 23 – a 66-year-old Chinese national who came to Singapore three days earlier. Since then, there have been more than 5,000 cases and 11 deaths in Singapore from the disease, which was first detected in Wuhan, China. This is how the outbreak has evolved in Singapore so far: Dec 31, 2019: A cluster of severe pneumonia cases in Wuhan, China is reported to the World Health Organization. Doctors do not yet know its cause. JANUARY Jan 2, 2020: Singapore’s Ministry of Health (MOH) says it is aware of the cases in Wuhan and will screen all inbound travellers from Wuhan from the evening of Jan 3. There are no cases in Singapore.
4 to 7% CAGR over the next market cycle? It is me and Mr STI! Cannot afford to miss the next rally or at least put one leg inside the market for the next rally. Unprecedented! Huge risk-reward waiting! Can't afford to miss it!
Now; he sianz! Real life example of retail investing. It is never easy! Who can analyze that DBS drastically raises its dividend from past year of 66 cts to $1.20 from 2018 onwards! Institutions invest along with their rules and policies; but for retails it is all in their Mind and Heart! Checked yesterday and heard that he didn't bought back any last sold DBS yet as he is still thinking worse for COVID-19 Greater Bear is coming soon! This Fear is far greater than the fear in Jan 2016 and freezes him completely! 3M's - Method, Mind and Money Management
Assuming bigger cut in dividends in 2020 H2 Anyway; household expenses in 2020 will also drop since there was no overseas travelling expenses since Jan 20 and that will help to balance out the cash flow,
534K CPF members who used their funds to invest from Oct 2018 to Sep 2019 1. 54% or 267K CPF members actually did worse than those didn't invest the money they had i their CPF. 267,000 is large pool of retail investors! 2. 170K lost money! Statistically, someone on either on your left or right as retail investor did worse than savers! Don't laugh or poke at those choose NOT to invest their CPF money. In CPF, we trust!
The Hen .... convincing the three little pigs on FIRE or Early retirement on leveraging on broker's margin account for higher yield stocks is a good idea! Passive income. Shiok! How many can tell the difference between involved and committed?
Personal investing. Personal retirement planner. It is all personal! LOL! Reaching Financial Freedom A piece of common wisdom we often read from financial or investment bloggers that reaching the edge of financial freedom is when our passive income from investment portfolio exceeds our living expenses. Sure or not???
Can a portfolio full of high yield dividend stocks guarantee you a secure and sustainable future cash flow to overcome inflationary impact in your future living expenses? Saturday, 2 March 2013 Read? Retirement Income for Life??? (8)
Sometime in life, it may be better to regret NOT making more than to feel sorry in bad state! Rotting cash reserve in the bank earning very low return as liquidity to fund few years of household expenses and to avoid any asset draw-down during market low!
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