DBS

DBS - The bank is in advanced stages to secure the bid for Societe Generale's Asian private bank, which is expected to cost an ~$300-$400m, which is expected to propel the bank into Asia's top 6-7 largest Asian Private bank. However with no disclosure on how the bid will be funded should it be successful, sceptical investors could be wary of any potential cash call / dilution in the near-term. Seperately, DBS announced today that it has sold its stakes in Hwang-DBS Investment Bhd (Hwang-DBS) and its assets worth RM1.36b, to Affin Holdings. Hwang-DBS is the country's third largest stockbroker with a market share of 12% and manages more than RM18.1b worth of assets.