DBS Group Holdings has been named one of S&P Capital
IQ's top 10 Asia stock picks for 2014 - the only Singapore stock to make
the list - PHOTO: BLOOMBERG
DBS Group Holdings has been named one of S&P Capital IQ's
top 10 Asia stock picks for 2014 - the only Singapore stock to make the
list.
The research platform for Standard and Poor's noted that Singapore's largest bank, with a market cap of S$42.2 billion, has appreciated 15.2 per cent in 2013, outperforming the Straits Times Index's 0.3 per cent decline.
It gave DBS a "4-stars" "buy" rating.
"DBS' valuation remains attractive, in our opinion, at (a) prospective 2014 price-to-book ratio of 1.1x versus domestic peers' multiple of 1.2x-1.4x,'' it said
The research platform for Standard and Poor's noted that Singapore's largest bank, with a market cap of S$42.2 billion, has appreciated 15.2 per cent in 2013, outperforming the Straits Times Index's 0.3 per cent decline.
It gave DBS a "4-stars" "buy" rating.
"DBS' valuation remains attractive, in our opinion, at (a) prospective 2014 price-to-book ratio of 1.1x versus domestic peers' multiple of 1.2x-1.4x,'' it said
DBS Bank, the nation's largest debt player, has started the year
with a bang - with a slew of bond sales involving multiple currencies.
In just two weeks, with fixed-income marketing hotting up, it has done more than $2.4 billion in deals - these include the year's first perpetual issue and first offshore yuan bond - as companies are jolted into action ahead of an expected interest-rate rise and investors are becoming active again.
Clifford Lee, DBS head of fixed income, said: "So far, activity has been good."
In addition to several Singapore-dollar deals, DBS has churned out yuan and US dollar issues; there is also a sukuk or Islamic bond in the pipeline.
In just two weeks, with fixed-income marketing hotting up, it has done more than $2.4 billion in deals - these include the year's first perpetual issue and first offshore yuan bond - as companies are jolted into action ahead of an expected interest-rate rise and investors are becoming active again.
Clifford Lee, DBS head of fixed income, said: "So far, activity has been good."
In addition to several Singapore-dollar deals, DBS has churned out yuan and US dollar issues; there is also a sukuk or Islamic bond in the pipeline.
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