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Coffeeshop Chit Chat - Cash Strap DBS inject $ Into Indian Bank</TD><TD id=msgunetc noWrap align=right>
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DBS to inject S$45m into Chola DBS
By SIOW LI SEN
DBS Bank on Friday said Indian associate Cholamandalam DBS Finance Limited requires recapitalisation of Rs 300 crores (SGD 90 million).
DBS owns 37.5 per cent of Chola DBS which said its recapitalisation plan comprises a capital reduction of Rs 323.53 crores (SGD 96 million) to provide for ascertained and anticipated loan losses.
DBS said it and the Murugappa Group will each subscribe for Rs 150 crores (SGD 45 million) of the new capital to be raised by Chola DBS.
The capital infusion of Rs 300 crores from DBS and the Murugappa Group is expected to be completed by end-March 2009.
Chola DBS is also contemplating another Rs100 crores capital to be placed out to third party investors in due course. The net proceeds of the capital infusion will be used to strengthen Chola's capital adequacy and meet its operating requirements
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DBS to inject S$45m into Chola DBS
By SIOW LI SEN
DBS Bank on Friday said Indian associate Cholamandalam DBS Finance Limited requires recapitalisation of Rs 300 crores (SGD 90 million).
DBS owns 37.5 per cent of Chola DBS which said its recapitalisation plan comprises a capital reduction of Rs 323.53 crores (SGD 96 million) to provide for ascertained and anticipated loan losses.
DBS said it and the Murugappa Group will each subscribe for Rs 150 crores (SGD 45 million) of the new capital to be raised by Chola DBS.
The capital infusion of Rs 300 crores from DBS and the Murugappa Group is expected to be completed by end-March 2009.
Chola DBS is also contemplating another Rs100 crores capital to be placed out to third party investors in due course. The net proceeds of the capital infusion will be used to strengthen Chola's capital adequacy and meet its operating requirements
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