DBS    Last:44.13    -0.25

DBS

Hi focus6900,

Very likely with the good dividend news. Climb up to 14 cents is not difficult actually.

But forget today is Friday plus long week end. Just hope for the best.

foucs6900      ( Date: 07-Aug-2009 08:29) Posted: Wat you tink el7888, will px climb up to 14s......???????

 

DBS this morning announcement:

The DBS Group Holdings Ltd (“DBSH” or “the Company”) Board of Directors report unaudited financial results for the second quarter ended 30 June 2009.


For the second quarter of 2009, the Directors have declared an interim one-tier tax-exempt dividend of 14 cents (second quarter 2008: 8.5 cents) for each DBSH non-voting convertible preference share
(“CPS”) and each DBSH non-voting redeemable CPS, and an interim one-tier tax-exempt dividend of 14 cents (second quarter 2008: 17 cents) for each DBSH ordinary share. Historical comparisons have been adjusted for the one-for-two rights issue.


The second quarter 2009 dividends will be payable on 4 September 2009. The DBSH shares will be
quoted ex-dividend on 20 August 2009. Notice is hereby given that the Share Transfer Books and
Register of Members of the Company will be closed on 25 August 2009. Duly completed transfers
received by the Company's Registrar, Tricor Barbinder Share Registration Services of 8 Cross Street
#11-00 PWC Building, Singapore 048424 up to 5.00 p.m. on 24 August 2009 will be registered to
determine shareholders' entitlement to the second quarter 2009 dividend. In respect of ordinary shares in the securities accounts with The Central Depository (Pte) Limited (“CDP”), the second quarter 2009 dividend will be paid by DBSH to CDP, which will in turn distribute the dividend entitlements to shareholders.

 

Wat you tink el7888, will px climb up to 14s......???????

 

DBS Second-Quarter Profit Beats Estimates as Fee Income Gains



By Shiyin Chen and Kelvin Wong

Aug. 7 (Bloomberg) -- DBS Group Holdings Ltd., Southeast Asia’s biggest bank, reported a smaller-than-estimated 15 percent decline in second-quarter profit as income from stock broking, investment banking and wealth management rose.

Net income fell to S$552 million ($384 million) from S$652 million a year earlier, the bank said in a statement to the Singapore stock exchange today. The median estimate in a Bloomberg survey of analysts was for profit of S$425 million.

DBS and smaller rival Oversea-Chinese Banking Corp. were upgraded on July 23 to “buy” from “neutral” at Bank of America’s Merrill Lynch on optimism earnings will improve as Singapore’s economy recovers. The bank, which gets about a quarter of its earnings from Hong Kong, is also expanding in mainland China and Taiwan.

“DBS’s earnings are most sensitive to an economic recovery,” Merrill Lynch analysts Kar Weng Loo and Alistair Scarff wrote in their report, citing its low loan-deposit ratio and strong capital position.

To contact the reporter on this story: Kelvin Wong in Hong Kong at kwong40@bloomberg.net Last Updated: August 6, 2009 19:35 EDT

 

DBS DELIVERS STRONGER QUARTER-ON-QUARTER PERFORMANCE WITH SECOND-QUARTER NET PROFIT OF SGD 552 MILLION * * * Performance underpinned by record quarterly revenue and cost discipline SINGAPORE, 7 August 2009 – DBS Group Holdings recorded net earnings of SGD 552 million for second quarter 2009, an increase of 21% from the previous quarter. Sustained revenue growth and cost discipline boosted earnings before allowances to a record SGD 1.16 billion. Revenues rose 8% from the previous quarter to a new high of SGD 1.79 billion as better net interest margins, capital market activities, trading and investment income resulted in broad-based revenue growth. Expenses were held at SGD 631 million, improving the cost-income ratio further to 35%, the best level in several years. Allowances of SGD 466 million were 13% higher than the previous quarter. Net interest income grew 3% from the previous quarter to SGD 1.11 billion. Improved credit spreads and reduced funding costs were partially offset by lower returns on interbank assets, lifting net interest margins by two basis points to 2.01% in a soft interest rate environment.

 

DBS is only one of our 3 local banks.  There are several other foreign banks here but obviously they don't have the large customer pool that DBS has.  So your money in the shares are 99 percent safe.  The 1 pc chance you will lose your investment is by the act of God. Don't worry too much.  Wait patiently and you shall make money from the investment.

 

Now only 13.66 :-(

foucs6900      ( Date: 30-Jul-2009 17:28) Posted: wah look at the last minute buy up at 13.78..........wah ho sey liao.......nx wk will cheong up to 15........

 

wah look at the last minute buy up at 13.78..........wah ho sey liao.......nx wk will cheong up to 15........

 

LOL!  Fully agreed!  Brokerage houses  are the 'INSIDERS' and retailers are 'OUTSIDERS'.............

The stock market is an 'insiders game' versus 'outsiders game'.  Its the Insiders who are in the know and its the Insiders who are making money.......

Laulan      ( Date: 30-Jul-2009 10:32) Posted: Always do two things when you read an analyst's report highlighted in the media or some forums or prominent places. Num 1:  Do nothing Num 2: Do the opposite. You will never be wrong as your experience has shown you! Cheers.

 

this baby, i m still holding. will sell just b4 results

 

Today lock in profit for half of my DBS at price of 13.44. I still keep half. just a defensive plan.

 

 

Always do two things when you read an analyst's report highlighted in the media or some forums or prominent places.

Num 1:  Do nothing

Num 2: Do the opposite.

You will never be wrong as your experience has shown you! Cheers.

 

wat i knw is, bank n property shares shld not dwn yet, cos in order to let the investor feel tat markets is gd, they hv to push or maintain it high enough, if not where got ppl will fork out $ to Q up buy condos.............

alth their earning is less than last Quater, of ocs lah, recession mah....less is logic, as long they still hv gd earning and is ++++ and not minus......

foucs6900      ( Date: 30-Jul-2009 09:26) Posted: hah, nv listen to broker firm analy, cos they r the one maniplutae it.....tink maybe they r the one selling n take profit n will buy in back low when ppl panic after read their report......just my view oni

 

hah, nv listen to broker firm analy, cos they r the one maniplutae it.....tink maybe they r the one selling n take profit n will buy in back low when ppl panic after read their report......just my view oni

 

his 13.2 is too kia si; look at the price now

 

CIMB-GK Securities Pte Ltd - 29/07 19:39

Time to lock in performance

We had been bullish on Singapore banks since April. Valuations can still overshoot in
a liquidity rally but after a relentless rally, we believe it is time to consider locking in
gains. We believe that banks stand out as one of the sectors for profit-taking. They
have been consistent outperformers over the past four months. A relatively benign
credit cycle and marked-to-market gains could still provide catalysts in the upcoming
results season, Unfortunately, stock prices have headed above mid-cycle valuations
and reflect those positives, in our opinion. At the same time, a benign credit
environment dampens the pricing-power argument for the sector. We have been
hearing that lending spreads for some REITs have narrowed by 50-100bp in recent
weeks, though they remain wider than pre-Lehman days. Among the three banks, we
pick DBS for profit-taking.

Reason #1: DBS has been the clearest outperformer, on a 1-week, MTD and YTD
basis. The stock is up 11.2% in the past five trading days, against the FSSTI’s +6.4%
YTD, DBS has raced past OCBC to become the strongest performer in the sector. Its
YTD performance is now +60.3% vs. the index’s +48.2%. DBS trades at 1.3x CY09
P/BV. Its strong performance had been due to a rebound from a relatively lower P/BV
than peers, in our view. We believe that DBS will struggle to outperform its peers from
here. In the next two quarters, as credit costs turn out more muted than expected, we
believe investors will start to focus on core earnings drivers and sustainable ROEs.
We find it difficult to push up our ROE forecasts of DBS much higher, partly due to a
larger book-value base after its S$4bn rights issue last year.

Reason #2: lower credit costs in next few quarters might not be that comforting.
Second, although earnings could surprise positively (due to muted credit costs and
trading gains) for all three banks, one cannot help but retain some niggling concerns
on DBS’s loan book. By now, it should be clear that Singapore loan books for all three
banks are getting indistinguishable as the recovery sets in. Defaults are unlikely to be
a big concern too. The differentiated portion of each bank’s credit-risk exposure hence
lies in ex-Singapore loan books. We worry that DBS’s Hong Kong book could
deteriorate in the future. We take more comfort in OCBC and UOB’s ASEAN
exposure, where economies tend to be more driven by domestic consumption. DBS’s
Hong Kong operation is largely exposed to SMEs operating in the Pearl River Delta.
The dominant sector is manufacturing, and the health of manufacturing companies is
still tied to a real export recovery, which remains elusive. With the developed world still
grappling with de-leveraging, rising unemployment, potentially higher taxes and lower
disposable income, we cannot see a real recovery for exports in the near future.

Reason #3: DBS’s margins can improve but will not catch up with peers’. Third,
a global environment flush with liquidity equates to low interest rates and low SIBOR.
Our regional strategist recently highlighted the amount of excess liquidity in the
system. DBS generally suffers in a low-interest-rate environment. Low SIBOR
essentially means its margins will be comparatively lower as excess deposit spreads
will be low. The bulls on DBS believe that DBS’s loan market-share gains will ensure
an NIM convergence with peers. We agree only to a certain extent. Corporate loan repricing
is ongoing and the margin gap should narrow. However, we believe DBS’s
disparity with peers will not totally even out.

Reason #4: DBS has the least prospects for book-value upside. UOB and OCBC
have lost more from AFS marked-to-market valuations and should be the clearer
beneficiaries as asset prices rise. Rising asset prices in 2Q have spilled over to 3Q. If
this continues, the banks might even recoup all their marked-to-market losses by the
end of this year. This leaves the possibility that P/BV valuations for OCBC and UOB
could trend lower after results next week, which is unlikely to be a positive for DBS.

Valuation and recommendation

Target price unchanged at S$13.20; downgrade DBS from Outperform to
Neutral. Our target price remains S$13.20, based on 1.25x P/BV. We will revisit our
target prices and earnings next week, after results. DBS is cheaper than peers on an
absolute P/BV basis. However, this should be easily explained by its lagging ROEs to
peers. Our recovery-stage ROEs (FY11: 10.9%) at this moment can hardly cross
11%. This makes P/BV valuations above current levels hard to justify. At this stage,
we would rather place our bets on OCBC or UOB. Downgrade DBS from Outperform
to Neutral.

 

hmmm, today many sell down...profit taking????? Hope tmr will push up till nx wk bah......

 

Tink by nx wk shld be close to 15......base on 1st Q n coming report shld be gd tP px at 15 n above, just my view oni

 

14 today

 

Long awaited rally...go higher.