tag:blogger.com,1999:blog-37872616.post6720581174246199406..comments2024-03-28T18:20:20.744+08:00Comments on BULLy the BEAR: DBS 4.7% preference shares redemptionla papillionhttp://www.blogger.com/profile/01372278083694506953noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-37872616.post-71411609394009239282015-02-03T21:45:19.223+08:002015-02-03T21:45:19.223+08:00Hi Cory,
Not sure what this means... They changed...Hi Cory,<br /><br />Not sure what this means... They changed the institutional tranche of this pref shares to fit into the new regulatory requirements. But for the retail one, I believe, they didn't recall back prematurely because the amt is too little. This one shouldn't fit into the new regulations, but they did it out of goodwill and didn't recall.<br /><br />Not sure what else there is to see regarding this matter?la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-77356937874050142182015-02-03T21:38:07.287+08:002015-02-03T21:38:07.287+08:00Just found this today....
http://www.dbs.com/annua...Just found this today....<br />http://www.dbs.com/annualreports/2012/capital-management.html<br /><br />"Lastly, Basel III has revised the criteria for the eligibility of capital instruments. The Group’s existing preference shares and subordinated term debts are ineligible in the first instance as capital instruments under Basel III rules as they lack provisions for conversion to ordinary shares or write-down at the point of non-viability as determined by the MAS, but are accorded partial recognition under the Basel III transitional arrangements.<br /><br />On a pro forma basis, the Group’s Basel III CET1 CAR as at 31 December 2012 was 13.5% based on transitional rules effective on 1 January 2013 and 11.8% on a “look-through” basis, i.e., after all adjustments that will eventually be taken against CET1 by 1 January 2018. These levels exceed the minimum CET1 CAR requirements under Notice 637 of 4.5% effective on 1 January 2013 and 9.0% effective on 1 January 2019 and take into account higher risk-weights for exposures to financial institutions and new capital charges for over-the-counter derivatives under Basel III.<br /><br />The Group is well-positioned to comply with other forthcoming Basel III requirements, viz., leverage ratio, liquidity coverage ratio and net stable funding ratio."<br /><br />so what this mean ? :)<br />Coryhttps://www.blogger.com/profile/18166646368324976318noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-14625843165814274702014-02-14T17:57:02.095+08:002014-02-14T17:57:02.095+08:00Hi LP,
Tempted but I will work out the sums this ...Hi LP,<br /><br />Tempted but I will work out the sums this weekend. I need quite a lot of cash if I'm going to buy a property. kekekeDerekhttp://thefinnace.sgnoreply@blogger.comtag:blogger.com,1999:blog-37872616.post-494323552056631952014-02-14T13:37:31.913+08:002014-02-14T13:37:31.913+08:00Hi Cory,
Much appreciated! thanks!Hi Cory, <br /><br />Much appreciated! thanks!la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-59448772911009329712014-02-14T10:41:04.427+08:002014-02-14T10:41:04.427+08:00There is a discussion in the hw zone which someone...There is a discussion in the hw zone which someone put the details.<br /><br />http://forums.hardwarezone.com.sg/stocks-shares-indices-92/will-dbs-early-call-4-7%25-pref-shares-par-4455387.html<br /><br />Coryhttps://www.blogger.com/profile/18166646368324976318noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-62302956169972658762014-02-13T21:34:56.888+08:002014-02-13T21:34:56.888+08:00Hi Derek,
Not selling off leh. Will hold it until...Hi Derek,<br /><br />Not selling off leh. Will hold it until they said they are going to redeem. This redemption is not the one that is listed on sgx. It's for the 250k per bond one.<br /><br />As for the CMT bond, I'm going to apply in advance first. If necessary, I can 'sell' to my parents at par if one of the pref shares gets redeemed :)<br /><br />You going to apply? I've a feeling it's going to be hot. la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-49866055606513588942014-02-13T21:32:06.496+08:002014-02-13T21:32:06.496+08:00Hi Cory,
That's what peroxide said too. But I...Hi Cory,<br /><br />That's what peroxide said too. But I couldn't find the exchange. Any links you can point to guide me here?la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-14756538084029922752014-02-13T21:03:27.455+08:002014-02-13T21:03:27.455+08:00Hi LP,
What do you intend to do after selling off...Hi LP,<br /><br />What do you intend to do after selling off the DBS preference shares? Invest in CMT retail bonds?Derekhttp://thefinnace.sgnoreply@blogger.comtag:blogger.com,1999:blog-37872616.post-26877057600259052672014-02-13T19:55:15.563+08:002014-02-13T19:55:15.563+08:00I think is of slightly different understanding. I ...I think is of slightly different understanding. I remember when they first announced is due to compliant issue which is allowed, and they need to change in-exchange of a new issue.Coryhttps://www.blogger.com/profile/18166646368324976318noreply@blogger.com