2/21/2019

DBS drops bombshell on remisiers

Yesterday Business Times asked DBS if it was planning to close down its stockbroking arm. DBS replied that it would hold a townhall meeting with the remisiers on its restructuring plan.

Last night the DBSVickers remisiers were told that they could not continue with their stockbroking business and the bank would explore ways to redeploy them based on their qualifications and experience as well as age, subject to the bank's policy on hiring older employees, market practices and MOM regulations on retirement age. Their businesses and clients will be taken over by the bank.

Many remisiers were in shock and disbelief with this bombshell coming immediately after the Chinese New Year festivities.  Many have spent 20 or more years with the DBSVickers. With many remisiers quite senior in age and having been in the stockbroking business most of their lives, it is unlikely that they could find suitable jobs with the bank with comparable income. The younger remisiers are very concerned as they have young children to feed and their livelihood is likely to be adversely affected, rice bowl broken.

The remisiers are now pondering over their next move over this financial crisis in their lives. With the difficulties in finding another job, the older remisiers can forget about this option and join the statistics as retirees and not add to the list of the unemployed. The situation for the younger remisiers is just as bleak unless the bank could find them alternative employment with equivalent income.

This is looking like a fire that has just started in the industry and the fear is that other banks or broking houses could follow suit and the problem could spiral into something beyond recognition. The coming GE could have another hot issue to blow hot and cold about.

Hard times are here for the stockbroking industry, the remisiers and supporting staff. How would this add to the pool of the unemployed PMETs in Singapore?

Wonder what is the position of MAS and the govt with this announcement?

56 comments:

Anonymous said...

They can apply to be Grab drivers leh . . .

Anonymous said...

Singaporeans lost jobs because of foreign talent CEO.

Anonymous said...

General Election in coming, time to settle scores. Sharpen your claws !!

Ⓜatilah $ingapura⚠️ said...

@ "Creative Destruction"

Ah, another instance of where the disruptive nature of "creative destruction" takes place.

Suddenly, without having to pay these fees, everybodys expense ratios suddenly got better. 🤣

Anonymous said...


This is SG! You die your business!

SG is like that liao!

But very very funny.

The masses seem to be very very happy with life.

So happy that a massive 69.9% voted pap!

PAP must be very very good!

PAP must be very very good!

Correct?

virgo49 said...

Just one sentence;

Those who are the Papies Stooges deserved it - Those who are not,too bad you are just collateral damages to the Papies stooges.Finally, those who still thinks that they be safe as Papies stooges will be next in line.

Ar Me Tau Hook/Amen/No men

Anonymous said...

This is not something unexpected.

The writing has been on the wall at least a decade ago. Anyone who cannot see beyond his nose has only himself to blame.

In this digital age, not only is old time remisiering outdated, many other fields will also face redundancies because of automation and artificial intelligence.

Also, with the internet and Google, there is absolutely nothing of value that these old remisiers can add that cannot be gleaned from the web.

Perhaps for these oldies, it's time to catch up with fulfilling some bucket list aspirations or in your case, write more on what's ailing Singapore these days.

All the best bro.

jjgg said...

So the bank will take over the business which u took years to build .. if it was insurance the payouts will be in the millions..your client portfolio worth nothing? Perhaps the remeisers have themselves to blame.. many trade on their own account n only maintain a small client base to show show.. anyway..just go to the independent ones la.. U need the bank?

Ⓜatilah $ingapura⚠️ said...

@ re-employment:

Any retrenched rimiser who's offered a new job in private equity, should jump into it. The growth in P.E. space is excellent.More and more people are noticing that returns from P.E. outperform public markets. And recently lots of the "smart money" is totally pissed off with public markets, what with QE, QT, fraud and "balance sheet engineering, toxic derivatives which no one understands, increasing credit spreads in fixed-income (toxic sovereigns, toxic corporates), whip-sawing sideways markets which defy logic, expectations, and of course the "everything bubble".

Most of Singapore's wealthy have made their dough in P.E. investments whether it's in real estate or their small/medium business.

Anonymous said...

I think the retrenched workers may need to go Jalan besar to offer american sailors their ass to be sodomizd to earn a living to put food on table for family members. Very tragic end to their lives and very pitiful

Anonymous said...


Sg is like that liao!

No money no talk!

Very fair! Profits......OK!

Very fair! No profit......Stop/Exit!

You die your business!

No money no talk!

Sg is like that liao!

No point kpkb kpkb and kpkb!

What to do! What to do! The 69.9% Yes the 69.9%

This is life! This is life!

Anyway.......worry less and be happy more!

Cheers.........

Unknown said...

Going to bring in more Indian foreign talents?

Anonymous said...

This is really bad. If banks throw stockbroking and stockbrokers under the bus, which is tied to the banking business, it means liao lah!

I think not only stockbrokers, retailers doing business from shops paying expensive rentals will face the music, now that online buying and delivery is picking up very fast indeed. Not only are things much cheaper bought online, they are delivered right to your doorstep, even for small items that cost very little.

And talking about jobs, humans are going to be redundant very soon with robots doing all the work in factories and warehouses making and doing all kinds of stuff and jobs that previously were done by humans. Just wonder what will happen if humans have no jobs and no or limited disposable income to purchase all those stuff made cheaply by robots, who is going to replace them to buy those things anyway?

America should realise that all those job losses cannot all be because of production shifting to China and elsewhere, but those are basically jobs taken over by robots. They will never go back to America, ever. Even big car manufacturers are now largely automated and need few human workers. What kind of job is Trump thinking of bringing back to America? With worldwide car manufacturers facing difficult times, who is going to invest in car manufacturing.

Progress in robotics and AI, but at what cost?

Anonymous said...

Hahaha, foreign talent creating jobs for Singaporeans or destroying jobs for Singaporeans?

Anonymous said...

DBS is a national bank, a government bank so to speak. Suxh a drastic and sudden move that immediately affects the lives and livelihoods of so many stable lucrative jobs/occupations (that have long-term effects) must have been approved or supported by the government before hand.

MAS may claim ignorant - that it has not been consulted. But can we really believe so?

Taking over the remissers' businesses and clients can be equated to daylight robbery and hooligan mafia tactics. It is totally unacceptable and unlawful. It is criminal!

The affected people should report to the Police.


Anonymous said...

February 21, 2019 9:15 am
Anonymous Anonymous said...
I think the retrenched workers may need to go Jalan besar to offer american sailors their asses to be sodomizd to earn a living to put food on table for family members. Very tragic end to their lives and very pitiful

Anonymous said...

Remisiers must not allow the bank to take over their businesses and clients which they take years to build client loyalty for free. Remisiers should get together to get legal help to demand hundreds of millions from the bank as taking over fees for their businesses and clients. Nothing is for free in Singapore. The bank or banks must pay for the businesses and clients of all the remisiers concerned.

Eagles Eyes

Truth said...

Sinkieland stock market dying, going to chup lup already, no need stockbrokers anymore.

Unknown said...


A forum page posting :
“Today’s meeting with DBS bank CBG head Jeremy Soo was full of anger and sense of betrayal by the Remisiers of DBSV

the meeting was planned in advance, but the nonchalant attitude and the arrogance of the DBS management can be seen by the fact that no details were available during the dialogue session and the CBG head deflected stinging questions by using the often quoted reply of “the bank together with the HR department with address the issue with the party concerned according to our HR policies”...

The meeting begun with accolades of DBS bank”s 2018 awards plastered all over the projector screen in the auditorium. That was the only slide shown throughout the dialogue session. Give me a break, talk about self promotion!

This was met with much distain and disgust by the attendees who feel that the bank simply was not interested in involving them. The feeling was that the meeting was called to announce the imperial edict.

1. Attendees questioned why MR Soo had never set foot in DBSV for years only to break bad news to them when meeting them today for the 1st time since taking over for years.
2. Sense of betrayal and anger as DBS bank has no details on redeployment of staff and to TRs above age 62. Questions were met with ...the bank together with HR...”
3. Questions about systematic attempts by bank to undermine the Remisiers businesses were not addressed. For examples , DBSV Remisiers cannot do bonds and placements as these under the accredited investors regime will be handled by the bank.
4. No answers were available as to how and what will happen to the tens of thousands of trading accounts that does not fall under the wealth management platform of private banking and treasures banking.
5. Remisiers who has 20-30 years of relationships with the bank and clients were disappointed that they were simply informed of the restructuring instead of being allowed to participate in the process
6. Some questioned why the bank has systemically withheld products from Remisiers on the DBSV platform while they are available on the banks wealth management side

To sum up , the bank in its pursuit of more profits has chosen to put its agents and clients concerns aside .

With 200 Remisiers jobs at stake, the already anemic equity market will quieter

Virgo49 said...

Sssshhhh! You want to be sodomised is it?

Sinkies after 50 odd years under the Pay And Pay became so fearful as three monkeys liao.

See nothing, hear nothing and talk nothing.

They dared take class action against the PAP?

Fat hope.Just stuck thumbs and said boh pian, Cheng Hu se you chor.

Goon lan suan ye. Poh Eng ah?

Sinkies as long as they not affected will just tak bodoh lah.

Pigs in pens take turns to be slaughtered at Kim Chuan Abbatoir.

Anonymous said...

@All,

Good!! Local banks are now starting to act on my suggestions as what I wrote in earlier postings. You can bet MAS is also pushing the other 2 local banks to follow.

Speculators & investors have long abandoned expensive remisiers 15-20 years ago. Only Ah Peks will pay minimum $25 or 0.28% commission just to buy/sell.

Today's super mature transaction systems is negligible in operating costs, except to feed a small army of parasitic remisiers.

Fintech, dynamic customisable individualised FA/TA analysis & screening, "always on" holistic portfolio analysis, risk balancing etc have replaced remisiers' "hot tips" and buy the rumour sell the news tactics.

The fact that most "senior" remisiers will have difficulty in being re-deployed or finding alternative positions is VERY TELLING of how useless & jiak liao bee these people actually are.

Those young remisiers will likely be re-deployed as RMs aka financial/bancassurance salesmen.

Virgo49 said...

Anon 12.36

Wow, Typical PAP Potential BATCH of Executioners and Leaders.

Should be selected for this coming Erection.

After passed by date, considered as JLbs and to be discarded.

No mercy.The Heartless and Right upbringing of the Manuremmineials and their Cohorts

Don't know when another Manure millienials will also discard him in turns.

What's goes round,comes around.

But think, they are already like Robots with only Robotic minds that no longer process any human souls.

Anonymous said...

Do you think those responsible should be sodomizd by the remisrrs? Who do u proposed are responsible that should be sodomizd? All suggestions are welcome

Anonymous said...

Very funny leg

BT said...

US Intends To Dominate The World Forever

Yesterday, President Donald Trump directed the Pentagon to develop plans to create a new Space Force.

The Space Force would have a Senate-confirmed Undersecretary for Space within the Air Force.

Some questioned whether having a Space Force would increase the odds of armed conflict in space.

Anonymous said...

Singaporeans deserve to be sodomised by foreigners.

Anonymous said...

Hi all

Ask your remister friends who did they voted at the last GE!

You will be surprised!

Hahaha..,,...,..,,,,,,,

Virgo49 said...

Culling by the PAP is their forte.

They called it pragmatic.Pragmatism like Voodism

Cheers

Anonymous said...

Very funny leh

Ⓜatilah $ingapura⚠️ said...

@ 1236 "entitlement mentality"

Many postings here show that the "entitlement mentality" (aka "world owes me a living") is very much alive and well. People hate competition. They loathe the disruptive nature of our super-techy world.

FinTech is huge. One of the largest players at the moment is CHINA. They are developing all sorts of shit --- especially in blockchain. Surprise, surprise --- China is paying the BEST SALARIES for blockchain engineers, at the moment.

Consider the following e.g.: I can trade with RobinHood at ZERO commission (ok lah, they "makan" a few basis points per trade) on my phone, any time I like...why the fuck should I pay "commission" to a human broker? So far, AFAIK, there are no ZERO COMMISSION brokers in Singapore. But that tech will come...if the govt doesn't get in the way.

So many people still believe that they are "so special" that they should be immune to the disruptive nature of"creative destruction". Yup, entitlement mentality alive and well for people who "overvalue" their actual worth.

On with the show! 🤣

Anonymous said...

This is just a drop of water in the vast ocean of the 69.9%. These people have been enjoying a good life under the PAP for the past 40 years. They could have consistently voted for the PAP. Serve them right, for those who have.

It is just the beginning. The pain and suffering must hit their family and spread further. Otherwise, the status quo will continue.

Only more backsides get screwed by garfield, pigs and rats, will the 69.9% wake up!

Cheers! happy getting your ass screwed. No sympsthy needed.

Unknown said...

Human life is cheaper , life is even cheaper in Singapore .

These guys are part of the game . After old man died , country rotting even faster


Sgx opened it legs to be screwed by China con listings , the foreign biz trust , soon it will be reits .


Caveat emptor it’s a lie .

The rot is starting only . Singaporeans deserve it . For the 30% you are the collateral damage .

Anonymous said...

After reading the comments here I feel that SG is very very siong!

What should we do now?

Very very siong!

What should we do now?

Unknown said...

Eat grass lor, top management, top leadership eat meat , the rest eat bones .

Any way may be good , security guard take home more than Remisiers . Singapore deserves it

Anonymous said...

I just heard Heng Swee Kiat on TV talking about taking care of seniors like real.

Here we have DBS sacking more than 200 seniors, breaking their rice bowl without any signs of unease. Their families are going to be in hard times.

If DBS does not repair this damage it caused to the seniors and their families and revert their bad decisions, the PAP is going to get a lot of backlash in the coming GE with DBS as the punching bag.

This is karma for bringing in foreign talents to screw Singaporeans, Singaporean seniors for no good reasons. The opposition parties would be glad to blare this episode in the GE to show how uncaring is the PAP for allowing this to happen right before their eyes in the state's govt bank.

TBT said...

USA Is The International Rogue Nation - Part 1/3

In 2003, America (and its lap-dog UK) invaded and destroyed Iraq on the basis of lies to the effect that the U.S. (and UK) regime were certain that Saddam Hussein had and was developing weapons of mass destruction. These U.S. allegations were based on provable falsehoods when they were stated and published, but the regime’s ‘news’-media refused to publish and demonstrate (or “expose”) any of these lies. That’s how bad the regime was - it was virtually a total lock-down against truth, and for international conquest (in that case, of Iraq): it was mass-murder and destruction on the basis of sheer lies.

That’s today’s U.S. Government - that’s its reality, not its ‘pro-democracy’ and ‘human rights’ myth. (After all: its main ally is the Saud regime, which the U.S. regime is now helping to starve and kill by cholera millions of Houthis to death in Yemen.)

In 2011, the U.S. regime, invaded and destroyed Libya — also on the basis of lies that its press (which is controlled by the same billionaires who control the nation’s two political Parties) stenographically published from the Government and refused ever to expose as being lies.

From 2011 to 2019 (but actually starting undercover in 2009), the U.S. regime (and its then allies King Saud and Tayyip Erdogan, and the Thanis who own Qatar) hired tens of thousands of jihadis from around the world to serve as foot-soldiers (the U.S. regime calls them ‘rebels’), in order to bring down Syria’s secular, non-sectarian, Government, and thereby, via these jihadist proxy-forces, they invaded and destroyed Syria — likewise on the basis of lies that the ‘news’-media hid, secreting from the public such facts as that “The US Government’s Interpretation of the Technical Intelligence It Gathered Prior to and After the August 21 Attack CANNOT POSSIBLY BE CORRECT.” But the lies are never publicly acknowledged by any of the participating regimes and their press. Therefore, the U.S. is an international Empire of Death and Destruction based upon lies.

From 2011 to 2014, the U.S. regime perpetrated a bloody coup that ousted Ukraine’s democratically elected Government and replaced it by a fascist rabidly anti-Russian regime that destroyed Ukraine and perpetrated ethnic cleansing. How much of this reality was being reported in the U.S. regime’s press, at the time, or even afterward? It was hidden news at the time, and so those realities have since become buried, to become now only hidden history; and the U.S. regime and its ‘news’-media continue to hide all of this ugly reality. It remains hidden, and isn’t mentioned by either the regime or its press.

Right now, the U.S. regime (along with its other lap-dog Canada) is perpetrating, or at least attempting to perpetrate, a coup to take over Venezuela.

On February 8th, the Latin American Geopolitical Strategic Center (CELAG) issued their study, “The Economic Consequences of the Boycott of Venezuela”, and reported that throughout the five-year period of 2013-2017, Venezuela’s “economy and society suffered a suffocation [of] $ 22.5 billion in annual revenues, as a result of a deliberate international strategy of financial isolation [of Venezuela]. Evidently, this financial pressure intensified since 2015 with the fall in the price of crude oil.” So: that’s a total loss of over $112 billion from Venezuela during the entire 5-year period, and the result has become (especially after 2014) the impoverishment of the country. The U.S. regime and its allies and their propaganda-media blame, for that, not themselves, but the very same Government they’re trying to take down.

The U.S. regime and its allies have contempt for the public everywhere. The more that Venezuelans blame their own Government for this impoverishment, instead of blame America’s Government for it, the more that their exploiters will have contempt for them, but also the more that their exploiters will benefit from them, because the exploiters’ taking control of the Government will then be much easier to do.

Continues .....

Anonymous said...

For all you know, the bankers may be conspiring to bring down the regime by this act against the seniors. Who knows what is their real intention, pretending they could not see any linkage to the election or angry votes against the regime.

TBT said...

USA Is The International Rogue Nation - Part 2/3

The US and-allied exploiters are attempting to install in Venezuela a man who has absolutely no justification under the Venezuelan Constitution to be claiming to be the country’s ‘interim President’. For some mysterious reason, Venezuela’s President isn’t calling for that traitor to be brought up on charges of treachery — attempting a coup — and facing Venezuela’s Supreme Judicial Tribunal on such a charge, which Tribunal is the Constitutionally authorized body to adjudicate that matter. So, Venezuela’s Government is incompetent — but so too have been all of its predecessors since at least 1980, and incompetence alone is not Constitutional grounds for replacing Venezuela’s President by a foreign-imposed coup. At least Venezuela’s actual President is no traitor, unlike the puppet Juan Guaido who definitely is.

Did Venezuela invade USA so that US's economic war against it can be justified? Did Iraq invade USA so that US's destruction of it can be justified? Did Libya invade USA so that US's destruction of it can be justified? Did Syria invade USA so that US's destruction of it can be justified? Did Ukraine invade USA so that US's destruction of it can be justified? None of them did, at all. In each and every case, it was pure outright aggression by the evil US Empire, the International Rogue Nation today.

In 1986, regarding US’s international relations, including its coups and invasions, the US quit the International Court of Justice (ICJ), when that Court ruled against the U.S. in the Iran-Contra case, Nicaragua v. United States, which concerned the US’s attempted coup in that country. But though the US propaganda-media reported the Government’s rejection of that verdict in favor of Nicaragua, they hid the more momentous fact: the US Government stated that it would not henceforth recognize any authority in the ICJ concerning the US’s international actions. The public didn’t get to know about that. Ever since 1986, the US Government has been a rogue regime, simply ignoring the ICJ except when the ICJ could be cited against a country that the US regime is trying to destroy (‘democratize’). And then, when the ICJ ruled on 9 March 2005 against the US regime in a US domestic matter where the regime refused to adhere to the US Constitution’s due-process clause regarding the prosecutions and death-sentences against 51 death-row inmates, and the Court demanded retrials of those convicts, the US regime, in 2005, simply withdrew completely from the jurisdiction of the ICJ. Ever since 9 March 2005, the US regime places itself above, and immune to, international laws regarding everything. George W. Bush completed what Ronald Reagan had started. Trump is the worst.

This rogue regime has no real legitimacy even as a representative of the American people. It doesn’t really represent the American public at all. It is destroying the world and lying through its teeth all the while. Its puppet-rulers on behalf of the US’s currently 585 billionaires are not in prison from convictions by the International Court of Justice in the Hague. They’re not even being investigated by the International Court of Justice in the Hague. That’s a UN agency. Does the UN have any real legitimacy, under such circumstances as this? Can an international scofflaw simply refuse to recognize the authority of the international court? This mocks the UN itself.

The US places itself above the UN’s laws and jurisdiction and yet still occupies one of the five permanent seats on the UN’s Security Council and still is allowed to vote in the UN’s General Assembly. Why doesn’t the UN simply expel America? It can’t be done? Then why isn’t a new international legal body being established to replace the UN - and being granted legal authority everywhere regardless of whether a given national regime acknowledges its legal authority over matters of international law? Why is Venezuela being internationally isolated and sanctioned, instead of the US?

Continues ...

TBT said...

USA Is The International Rogue Nation - Part 3/3

On top of all that, this is the same US regime that has blocked the Paris Agreement on Climate Change, and that has broken one international agreement after another - not only NAFTA, and not only the nuclear agreement on Iran, and not only many nuclear agreements with first the Soviet Union and then Russia, but lots more - and all with total impunity.

And it’s not only the countries that the US invades or destroys, which are being vastly harmed by this evill monster-regime. How many millions of the flood of asylum-seekers who are pouring into Europe have done that in order to reach safety from US’s bombs and proxy-troops - jihadists and fascist terrorists - which have ravaged their own homelands? What is that flood of refugees doing to Europe, and to European politics - forcing it ever-farther to the right and so tearing the EU apart? Why are not Europeans therefore flooding their own streets with anti-US marches and movements for their own Governments to impose economic sanctions against all major US goods, and demanding prosecution of all recent US Presidents, starting at least with G.W. Bush - or else to vote out of office any national politicians who refuse to stand up against the US bully-regime?

It isn’t only weak nations such as Nigeria that are corrupt and rotten to the core. The entire US Empire, especially its US masters, are.

How much more will the peoples of the world remain suckers to the vast corporate propaganda-operation by that out-of-control beast of a rapacious regime, which displays the Orwellian nerve to label as being a ‘regime’ each and every Government that it seeks to overthrow and to call itself a ‘democracy’? The US regime is itself actually allied the most closely with the world’s most barbaric rulers, the Saud family, that own Saudi Arabia. The US regime is also allied with the apartheid and internationally aggressive regime in Israel. Is such an international gang, as this is, going to get off scot-free, as if there were no international law — or at least none that applies to itself?

If the US regime is so concerned to ‘protect democracy’ and ‘protect human rights’ all over the world (as that perennially lying bunch always claim to be the ‘justification’ for their invasions and coups), then why isn’t it starting first by prosecuting itself? (Or, maybe, by prosecuting Crown Prince Mohammed bin Salman al-Saud, for his many crimes — and prosecuting his predecessors for financing the 9/11 attacks against Americans?) Well, of course, Hitler didn’t do anything of the sort. (Nor did he prosecute his allies.) He set the standard. Maybe, ideologically, Hitler and Mussolini and Hirohito actually won the war, though this has happened after they first physically lost what everyone had thought was the end of WW II. After all, nobody is prosecuting the US regime today. Isn’t that somewhat like a global victory for fascism - the Axis powers - after the fact? Maybe “we” won the war, only to lose it later. Doesn’t that appear to be the case? Mussolini sometimes called fascism “corporationism”, and this is how it always functions, and functions today by agreement amongst the controlling owners of international corporations that are headquartered in the US and in its vassal-nations abroad.

Is this to go on forever? When will this international reign of fascism end?

The US militarily occupies the world; this is a global empire; it has over a thousand military bases worldwide. Why aren’t the people in all of those occupied countries demanding their own governments simply to throw them out — to end the military occupation of their land?

You can’t have a world at peace, and international justice, without enforcing international laws. What we have right now is actually a lawless world.

Why can't the UN be replaced with a new International Body, without the International Rogue Nation?

TBT = Truth Be Told.

Anonymous said...

Initiative to coordinate care for the elderly to launch soon

https://www.todayonline.com/singapore/community-networks-seniors-pilot-multi-ministry-effort-support-seniors
----------------------------------

"Immediate care for elderly cardboard collectors and elderly toilet cleaners"
- when I see this headline, then I believe

"Soon" ....
- in Hokkien this means "tan ku ku"

Anonymous said...

Who do You think in DBS that ought to be sodomized? All suggestion welcome😀

Anonymous said...

Everyone has different thought on this who should be responsible.nit can be from a VP on strategy development side to an executive VP in charge on the business division to the CEO to Chairman to majority shareholder VP to CEO to Chairman to minister to PeeAm to even the prcedent. Just my humble suggestion.

Anonymous said...

Of course, the ones who sit on the Board of Directors of DBS and draws high bonuses every year are ultimately responsible for DBS, in accordance with Corporate Laws.

However, the CEO of DBS, being a foreigner, could have influenced the decision-making process and therefore cannot absolve himself of blame.

Also, GBD, being a subsidiary under Temasek Holdings, could have been directed by the CEO and Executive Chairman/President of Temasek Holdings to take the drastic/ruthless short-change route to more profitable long-term end-of-year accounting.

Anyway, such a move could not have gone as it has, witbout the approval of MAS.

THEREFORE, the PMO must have also been informed.

Anonymous said...

Correction:

GBD = DBS.

Virgo49 said...

Hi TBT, interesting Read. Tks

The U.N. can be onmy be replaced by other more fair minded and just members when that Rougue U Ass A is soundly thrashed by Russia and China.

Being whacked just like the Ah Neh KL robber soundly till Cry For Hell and Earth response then U ASS A will quiet down.

Now, still swaggering thinking that they are Invincible.

Unknown said...

The rot starts with caveat emptor regime by young man n Tharman era .

The demutualisation of ses and simex and the subsequent rush to cash in on the golden egg by the newly sgx killed the market .

Tons of new IPOs of dubious quality were listed . Remember Asiasons Blumont LionGold ? Till today not settled . So much for efficiency.


The greed ignorance and the gullible investors all contributed to the demise of the industry .

The regulators and industry leaders , ie heads of the Broking houses are to be responsible too .

The last and only town hall by sgx , chew Su tat was cherry picking statistics until the young man from DBS Vickers pointed this out . Nala from DBSV too questioned the exchange officials.

More DBSV brokers joined in .

This posted is served to remind fellow industry players and local investors that there are people with guts and virtues among those being let go by DBS Bank . These are the people who raised up to tell the exchange officials wake up your damn bloody ideas and stop dreaming .

Singapore needs to wake up too . We have tolerated lousy leadership and cherry picking statements for too Long . Many of these men / woman in DBSV works there 20-40 years . They have a 90 year old who retired last year!

Shame on the nay sayers . It’s easy to blame Fintech , technology and other reasons .

The bottom line is . The leadership of the industry should be sacked long time ago . The regulators too should be held to task .

Unknown said...

well phrased

Anonymous said...

7,20am so who are you proposing to be sodomizd?

Unknown said...

Since you are so kin, give me an address, I would consider any human or animals , I can mail you a rubber doll . For anonymous @9.20am

Anonymous said...

Haha very funny but that dude asked for it

Anonymous said...

Rb, is 9.29pm anon your Friend as you kept on deleting my response to him. I starting to lose confidence on you being neutral in discussion. So I also now want to sodomize you.😀

Chua Chin Leng aka redbean said...

When you sodomise each other, I can close an eye. Please don't bring in father and mother and wife into your verbal combat. Not very nice.

Anonymous said...

Rb matilar did it all the time and I don't see you deleting his leh

Anonymous said...

Imagine a state bank employing hundreds of foreigners, giving them good jobs, and then sacking hundreds of Singaporeans. And no Singaporean think this is wrong.

Anonymous said...

The writings on the end of remisiers were already on the wall ON THIS BLOG:
https://mysingaporenews.blogspot.com/2019/02/a-financial-centre-with-no-stockmarket.html

What do you expect from a failed stockmarket lacking vibrancy, imagination and serious investors, played only by those from neighbouring countries with very questionable sources of income? Die, die must chion ... finally DIED! DBS should pay all remisiers their lost income for the remainder of their lives.


Gazzali said...

What about our shares? How to trade?