Regional outlook likely better in 2023, but global slowdown fears remain: DBS chief

The regional outlook is expected to be “a little bit better”, even as the global economy looks increasingly likely to be heading into a slowdown, DBS Bank chief executive Piyush Gupta told CNA’s Asia Now. On Monday, DBS Group reported a 69 per cent rise in net profit for the fourth quarter of 2022 as higher interest rates boosted its net interest margins.

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[blose]

CNA reported Gupta saying DBS has no loan exposure to Adani group! Is this news correct? Is a correction expected? Singaporeans want to be assured our deposits are safe. Large loan exposure to a group engaged in fraudulent transactions with shell companies is worrisome.

[martinlee]

To temper this rising cost of living, we proposed 10 measures:
1. Cut ministerial pay to fund assistance schemes for the poor
2. Raise income tax rate for the top 1 percent
3. Ensure revenue neutral budgets
4. Scrap GST for essential items, raise GST for luxury goods
5.Legislate Minimum Wage
6.Reinstate Estate Duty
7.Reduce Healthcare Cost
8.Lower HDB Prices
9.Return CPF Savings
10.Stop profligate public spending

Our alternative ideas are guided by our belief that it is the people who should take the lead in driving the economy (as opposed to the current state-run affair through Temasek-owned companies) and who should have the predominant voice in how their wages are taxed and CPF savings used.
Under the present autocratic system, however, the people have little say in how their lives are run. Decisions on financial matters, especially regarding taxes, fees and CPF savings, are dictated by the elite few in the PAP.

[miklee]

What a good CEO. My full respect for him.

[deschan]

DBS does well because Singaporeans was squeeze hard. A true blue Singaporean will never hurt fellow Singaporeans' interest. Not sure about foreigner turned Singaporean.

[anziar]

CEO of DBS, OCBC and UOB each earns 5 times the salary of the PM. 👍👍 The PM is probably underpaid.

[anziar]

The PM takes care of the whole country of 5.6 million while bank CEOs take care of only a few thousand staff. The PM deserves to be paid more.

[anghockseng]

I think dbs should
Disclosed total loan to
India

[akashnaiya]

China Growth is really need in Asia, conquer to Asian Markets

[martinlee]

The ruling party has itself admitted that the GRC system serves its own interest by making it easier for fresh recruits to enter Parliament. High election deposits make it a challenge for opposition candidates to contest. Furthermore, elections are overseen not by an independent council but placed under the purview of the Prime Minister’s Office. There is a complete absence of independent oversight to ensure accountability and transparency both in the drawing of constituency boundaries as well as the elections process.
The recently proposed amendments to our electoral system to allow more NMPs and NCMPs are merely cosmetic changes that do not address the above-mentioned issues which have been repeatedly brought up by opposition parties.