I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

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Value Investing
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Tuesday, 9 August 2011

Negligible impact on our positions, says DBS

DBS, South-east Asia's biggest bank, says the impact of a US credit rating downgrade on its trading and investment positions is 'immaterial' and that it is adequately positioned to meet liquidity needs.


'Over the past few weeks, DBS has already taken proactive steps to understand possible repercussions of a US credit downgrade, including stress-testing our books and portfolios,' said Chng Sok Hui, DBS's chief financial officer, in an email yesterday.

'In terms of our trading and investment positions, on a net basis, the impact is immaterial,' she added.

DBS said its holding of European debt is negligible.

OCBC Bank, Singapore's second- biggest lender, also made a similar statement.

'Given the current level of exposures, the impact of the US sovereign downgrade is not material to OCBC Bank,' said Koh Ching Ching, OCBC's head of group corporate communications.

Analysts said Asia's banks are seen facing a bump-up in dollar-funding costs and potentially slower credit growth after Standard & Poor's US debt rating downgrade, strengthening China's case to push the yuan as a global alternative to the dollar. -- Reuters



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