I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday 25 June 2010

MM Lee says S'pore banks may need to consolidate to expand overseas

DBS merges with OCBC? Since UOB is a family controlled bank so it is harder to eat up.

-----------------------------------------
By Imelda Saad

Posted: 25 June 2010 2256 hrs

SINGAPORE : Minister Mentor Lee Kuan Yew said Singapore's local banks may need to consolidate if they want to effectively expand overseas.

He said the three local lenders did not have the size to engage foreign markets in the same way that global leaders do.

Speaking at an event organised by the Association of Banks in Singapore on Friday, Mr Lee suggested that it might be better for the banks to consolidate to two, or even one entity to generate the mass required to break into foreign markets.

With opportunities in China and India opening up, and limited penetration in Southeast Asian markets, Mr Lee said local lenders needed scale.

He said: "We're in Indonesia in a small way, Malaysia in a small way, Thailand almost nothing. But the big future is in China and in India. And I don't see three banks as capable of making that foray as two banks… Just look at the capitalisation of the big banks in the US and in the UK."

No comments:

Post a Comment

Related Posts with Thumbnails