Today’s Headline

DBS net profit dropped by 9%, though revenue up by 5% and share prices closed at 1.7% higher; Mostly affected by allowances for NPLs (non-performing loans) that surge 87% in the quarter. The bank is also affected by Oil/Gas bad loans, although CEO believes DBS has passed the worst.”

Today’s Outlook

ST Engineering Q4 profit surge 21% and revenue by 2.2%; Electronic arm rose by 9% pre-tax profit, shipbuilding pre-tax profit down by 15% while land systems down by 66% due to one-off charge in Q3.”

STI rose by 0.27% following the gains on Dow Jones. Both DBS and UOB rose by 1.7% and 0.34% respectively, with Thai Beverage topping the index with yet another 2.13% gain.”



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