(28-07-2016, 08:03 PM)GPD Wrote: DBS's statement on its exposure to Swiber's winding up.
http://infopub.sgx.com/Apps?A=COW_CorpAn...60701e087c
SGD700million in loans, notes and off-balance sheet item. Expect to recover half.
To have a total exposure of SGD700 million to an animal like Swiber, it is clearly reckless! To have sponsored a massive failed credit risk like Swiber to the SGD bond/notes market, I think DBS has crossed the line into imprudence and irresponsibility towards local investors. Sad, DBS's top management better starts doing some serious soul-searching!