OUB Centre at Raffles Place on a Saturday morning. Shops just opening.
Time to acquire local banks
With the stock market going into a tailspin, with banks and blue chips companies at fire sale prices, it is time for GIC and Temasek to consider buying them up in the cheap.
The American govt is pumping in US$250b to buy up bank stocks. GIC and Temasek should find value to acquire or build up their holdings of local banks and blue chips.
And with DBS being the smallest local bank, why not buy up the number One or number Two banks?