DBS vs LVB: Sweet Meat For The Wolves, Game Of The Century


SSO said...

DBS vs LVB: Sweet Meat For The Wolves, Game Of The Century

The Lakshmi Vilas Bank (LVB) Deal is the most "lucrative" and "enticing" business proposal ever made in the history of banking and finance. Some more, it was made by such a distinguished and outstanding government of India, under the steady steering hands of the well-known PM Modi of CECA fame.

Simply speaking, it is "Too good to be true."

It is so good that it simply cannot be turned down by any rich investor with a huge capacity of cheap funds, using other people's money of course, lying around in the hands of eager-beavers ever-ready to make a kill in his/her name, so that at year-end he/she could reap another unimaginable hefty sum of $millions in annual bonuses, and retires in comfort, laughing all the way to the bank everyday.

But, but, but the thing is:

If the deal is so good...too good to be true, why didn't the Indian Government buy over LVB wholesale by itself? The Modi government could not see the "lucrative" long-term returns-on-investment? The hawkish Modi leadership was out of wits and funds and therefore could not go in for the kill by itself? As such, it has to invite lucky DBS to grab it for a song and also write-off the shares of the previous owners of LVB with ease, without having to worry about potential repercussions?

Or, Why didn't any of the big and rich local Indian companies take over the in-deep-shit LVB and immediately owns 350 banks throughout India, which took LVB almost 100 years to build up? So wonderful! So easy! Why no takers?

Questions aside, whichever way one may look at it, under such circumstances, there is always big money to be made in the shades, under the shadows and enclosed in darkness, behind closed doors, over a sumptuous dinner, by some shrewd, crafty and cunning big players in the Game Of Cheat, in this Game Of The Century.

The meat is so sweet and fresh, and therefore, the greedy and hungry wolves are many. Like the Hollywood movie "The Wolf of Wall Street", this is the "The Wolf Of Madrass" in real life.

In my mind, the first suspected wolf is the one who proposed the purchase of LVB to those that count.

The second suspected wolf is the one who influenced the decision-maker to go ahead with throwing good money after bad loans.

The third suspected wolf is the one who made the decision to buy over the LVB in accordance with the Modi Government's alluring proposal of a life-time.

The fourth suspected wolf is the PR guy, the one who looks like a white-collar criminal with corruption written all over his face when he spoke with the intention of influencing the unguarded about how good it is to invest in India Tamil Naidu.

The fifth suspected wolf is the middleman or men in this Game Of The Century.

The sixth and subsequent suspected wolves are those in the other camp, right from the top to the bottom.

Last but not least, I simply say only, the glaringly suspected wolf is the "Honourable" Judge who presided over this case, who has holds the power, who made the judgement, and who aimed and shot two arrows, one after another, straight
into the Heart of DBS, just like what Robin Hood would have done.

I believe the CBIB would have already started to get busy investigating deeper and wider into this "too good to be true" fishy Game of the Century.

Keppel's Brazil misadventures, for 13 long years, are still very fresh in our minds, except for those who have dozed off.

So, what now, DBS, going forward?

SSO - 4 Dec 2020.

PS: CBIB stands for Cheats and Badass Investigating Board.


Anonymous said...

The silence from Singapore authorities on this matter is deafening.

Anonymous said...

The question is not why don't any of the rich and big local Indian business take over LVB.

The reason is that DBS thinks it should expand big in India by taking over LVB and have their 350 branches in it's stable. Whether they know that they are having to bail out shareholders of the bank as well in their calculation is unknown. Obviously that ruling by the court about having to set aside more money to compensate shareholders took them by surprise.

SSO said...

Bottomless pit, if you ask me. No amount of CPF compulsory insurance premiums increase can cover this bottomless pit.

It's a very sad story for old folks Singaporeans to be involved in this Game of Cheat blundering decision of an Indian turned Singaporean.

This is the problem of giving Singapore citizenship anyhow to any Tomahawk, Dickhead, and Hairy Chimpanzee, whom the "God of No Mercy" and the "Goddess of Greed" think that they are good in contributing to the growth of the GDP at all costs. But in reality they could turn out to be wolves in goats' skin.

Bottom line is that the innocent uncles and aunties god to pay extra 35% insurance premiums for no faults of theirs.

Hokkien people say,
"This is very "chek ark"!

There will be serious retribution in the future to those who are making the old folks pay for their sins.