Why Can't see any Indian, Malay Staff in UOB, and the Big Boss's Funeral ?

[k1976]

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Opinion
Andy Mukherjee, Columnist

The Singapore Banker Who Tried to Be Gandalf​

DBS chief Piyush Gupta got the big calls right. But lack of attention to little things could spell more uncertainty.
February 8, 2024 at 5:00 AM GMT+8
By Andy Mukherjee
Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services in Asia. Previously, he worked for Reuters, the Straits Times and Bloomberg News.

Is the wizard of Asian banking is running out of time?
Photographer: Lionel Ng/Bloomberg
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It’s rare for a bank boss to take a 30% cut in variable pay — after delivering a chart-topping return on equity of 18%.
In doing just that, Piyush Gupta, the chief executive officer at DBS Group Holdings Ltd., has acknowledged the role of small things — like an overheated data center — in making a bank good, average or bad in the digital age.
Before it’s here, it’s on the Bloomberg Terminal





Opinion
Tim Culpan

India’s True Manufacturing Rival Is Vietnam, Not China​

With import taxes higher than all its competitors, New Delhi is blowing its chance to become an alternative to the world’s factory. That has to change.
February 8, 2024 at 6:00 AM GMT+8
By Tim Culpan
Tim Culpan is a Bloomberg Opinion columnist covering technology in Asia. Previously, he was a technology reporter for Bloomberg News.

An alternative to China?
Photographer: Linh Pham/Bloomberg
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If India wants to build a robust computer and electronics manufacturing industry, it needs to shift focus, fast. Instead of concentrating on the domestic market, it should become regionally competitive and export-driven. That means recognizing that Vietnam, not China, is its biggest rival.
The latest reminder of this urgency came last week with a US appeal for New Delhi to make the business environment easier and more transparent to navigate, or keep losing out on foreign direct investment. Cutting import duties ought to be high on the list, US Ambassador to India Eric Garcetti told the Indo-American Chamber of Commerce on Jan 30.
Before it’s here, it’s on the Bloomberg Terminal





Opinion
David Fickling

India Is Scorning the Energy Bounty That Transformed China​

Touting carbon capture and storage is wishful thinking at best, and dangerous shortsightedness at worst. Just look at China.
February 8, 2024 at 5:30 AM GMT+8
Corrected
February 8, 2024 at 11:23 AM GMT+8
By David Fickling
David Fickling is a Bloomberg Opinion columnist covering energy and commodities. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times.

An under-exploited resource.
Photographer: Pallava Bagla/Corbis News/Getty Images
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You know an electricity policy is bankrupt when its advocates start touting the virtues of carbon capture and storage.
Decades of promoting the technology, also known as CCS — which aims to filter the carbon dioxide from smokestacks and inject the pollution deep underground — have failed to produce more than a handful of operating plants. So plans by India’s government think tank Niti Aayog to capture as much of 70% of the country’s power-sector emissions should be treated as wishful thinking at best, and dangerous shortsightedness at worst. “We have abundant coal and we want to use it, in a sustainable way,” the body’s energy adviser Rajnath Ram told Bloomberg News.
Before it’s here, it’s on the Bloomberg Terminal

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Wall Street Snubs Chin

 

[k1976]

https://www.businesstimes.com.sg/co...finance/singapore-banker-who-tried-be-gandalf

IT’S rare for a bank boss to take a 30 per cent cut in variable pay – after delivering a chart-topping return on equity of 18 per cent.

In doing just that, Piyush Gupta, the chief executive officer at DBS Group Holdings, has acknowledged the role of small things – like an overheated data centre – in making a bank good, average or bad in the digital age.

But the US$3 million hit to salary also shows how far Singapore’s largest lender is from realising its CEO’s ambition. Under Gupta, DBS has always aspired to be less of a bank, and more of a technology powerhouse. And not just any tech firm, but one that would rank alongside some of the world’s most admired brands. As DBS told McKinsey & Co, the plan was to borrow the initials of Google, Amazon, Netflix, Apple, LinkedIn and Facebook, supply the missing D, and voila: You have Gandalf from The Lord of the Rings.

 

[k1976]

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The Singapore banker who tried to be Gandalf​

Andy Mukherjee​

Published Thu, Feb 08, 2024 · 8:47 am Updated Thu, Feb 08, 2024 · 8:50 am

Under Piyush Gupta, DBS has always aspired to be less of a bank, and more of a technology powerhouse.
PHOTO: BLOOMBERG

Piyush Gupta​

IT’S rare for a bank boss to take a 30 per cent cut in variable pay – after delivering a chart-topping return on equity of 18 per cent.
In doing just that, Piyush Gupta, the chief executive officer at DBS Group Holdings, has acknowledged the role of small things – like an overheated data centre – in making a bank good, average or bad in the digital age.
But the US$3 million hit to salary also shows how far Singapore’s largest lender is from realising its CEO’s ambition.

Under Gupta, DBS has always aspired to be less of a bank, and more of a technology powerhouse. And not just any tech firm, but one that would rank alongside some of the world’s most admired brands. As DBS told McKinsey & Co, the plan was to borrow the initials of Google, Amazon, Netflix, Apple, LinkedIn and Facebook, supply the missing D, and voila: You have Gandalf from The Lord of the Rings.

Trouble is, after more than 14 years leading DBS, the wizard of Asian banking is running out of time: Succession is on the horizon. To cement his legacy as the banker who inserted DBS into Gandalf, the CEO has to act fast.

In full-year earnings on Wednesday (Feb 7), Gupta promised to eliminate single points of failure for key services during the current quarter. The bank is also close to appointing a chief information officer, he said.
Stalled ATM transactions and other tech disruptions became the lender’s Achilles’ heel in what was otherwise a much better year than I had anticipated.

Trouble in United States regional banking failed to derail the Federal Reserve’s campaign to keep interest rates higher for longer. That helped DBS extract a juicy profit margin on its loans. On its home turf, elevated borrowing costs failed to deter first-time local homebuyers. Mortgage demand in Singapore has been trending lower since end-2021, but it has not fallen off the cliff.

Yet, before the results, DBS shares were down nearly 12 per cent in one year, the worst among the Asian financial centre’s three homegrown banks.

It was not big credit mishaps or spectacular interest-rate miscalculations that hobbled performance, but everyday operational snafus.

In the end, 2023 will be remembered as the year in which DBS annoyed its customers and regulator and suffered business and reputational damage that were not expected from what Euromoney named the world’s best digital bank in 2016.

 

[Cottonmouth]

Why would the cleaners be invited??

 

[Cottonmouth]

IT’S rare for a bank boss to take a 30 per cent cut

That's the price to pay for flooding DBS with incompetent shitskins from the same village

 

[syed putra]

They worship PAPPY.

Malays despise PAP and it's ethnic cleansing and native land seizure policies.

 

[k1976]

Malays despise PAP and it's ethnic cleansing and native land seizure policies.

No leh, malay population still growing very well