DBS in hot soup in India because of LVB?

The hottest topic today must be the long queue of Indian companies waiting to sue DBS Bank. Every concern Singaporeans, every thinking Singaporean is raining cold sweat if you know the consequences of this turning bad. My email and sms have been flooded with messages on the legal suits taken in India, not in Singapore, against DBS Bank. I would be feeling more secure if they were to sue in Singapore courts. But in Indian courts, tough.

Many are at the point of being hysterical on the fear of huge losses by DBS Bank, and at the way things are looking, it is a bottomless pit. To the concern and thinking Singaporeans it is not just our reserves being affected, their pockets would also be affected. See that? The big hole must be patched somehow, and who is going to pay for it? If you are still blur, then you are a perfect daft Singaporean.

OK, before this drama becomes too melodramatic, before doomsayers got carried away, I would like to give Singaporeans a big confidence booster. No need to worry lah. Why? Everything is under control. Such a big decision cannot be made like between Muthu and Ah Seng in the backlane, ai mai, eh sai beh sai, and deal done. 

Many very clever people must be involved in studying this merger before they said yes. No due diligence, cannot be lah. 

One best sign to know that all is well is that no one in the govt has said anything to the contrary or trying to sound out to the people, to prepare the ground, that DBS or Singapore is in deep shit. This is another way of saying, if no one complains, then there is no problem. In this case if the PM and all his ministers and MAS and DBS did not sound worrying, then all is fine. Opposition MPs also never make noise. You know they sure make a lot of noise if something is foul. If they also keep quiet, then must be ok lah. See no one ask question about this. See how many questions they asked about climate change and you know what is more important.

My logic good right?

Then DBS is not a fly by night company that was born yesterday. DBS has many years of experience in this type of merger, even advising companies about merger. How can DBS not know what it is doing. Gupta is the best banker in Singapore, maybe the whole world. And he came from India, born in India, just a few years ago he was still an Indian citizen. His contacts would have told him if got problem. He could smell them too. He is not paid millions to fumble in such a simple merger of two banks. Any small banker would be able to do it quite easily, especially to protect from unknown and unlimited liabilities. There would be a standard checklist of do's and don'ts.

And DBS have a lot of damn bloody smart and damn bloody shrewd lawyers.  These experts would be there first on the ground to assess the situation and to make sure the ground is safe before saying ok to put in hundreds of millions into the deal. Please don't suggest the damn bloody smart and shrewd lawyers were sleeping or did not know their job. They are experts in such things, many years of experience, not the first time working on such a case.  Ignorant lay people no need to worry too much. Leave it to the experts in DBS and the govt. Singapore is in good hands. Cross my heart.

Still not convinced? I guarantee you DBS and Singapore would not lose a single cent in this merger. Gupta already said LVB would be profitable in a year or two. Trust him. He is the best bank manager Singapore can find and afford to pay. Not to worry.

Yes, I guarantee. If DBS India becomes DBI, I lose and I will buy you kopi. See, putting money where my mouth is. Trust me, not to unduly worry over this and have sleepless night. Everything is fine, will be fine.

Remember, DBS is the best bank in the whole world.  You mean they could be duped so easily by the Indian govt into such a scam? Come off it. Don't let your imagination goes too wild. I bet all the Sues would be thrown out of the Indian courts. DBS would pay for the best Indian lawyers to fight these spurious lawsuits. No need best Indian lawyers from Singapore, no need Davinder. And in India, DBS can pay them in rupees some more. Cheap, cheap.

And we have a trump card still not use yet. If all else fails, send Chok Tong. He is India's man and the Indians would give him face. He looks so handsome in his Indian dress. What you call that he used to wear? When Chok Tong goes to India, all problems become no problem.

Have a good sleep and get on with your life. No need to worry unnecessarily....And we have so many top officials, ministers and MAS and DBS chiefs, all Indians, can talk in same language and understand the Indians and the game they are playing. How can anything go wrong? Por lah.

PS. Please excuse me if I made too many mistakes. I wrote this after downing half a bottle of Cabernet Sauvignon.  Cheap cheap one, offer from Fairprice.


SSO said...

I got a strong feeling that PM and other kilat kilat Ministers are not saying anything because they are so shocked until "THE" also can say.

As for the Wayang Opposition Parties, they talk only when there are points to score, irrespective of political points of personal points.

They are trying to avoid being sued or labelled as "racists". Because the whole affairs involves many Indian Chiefs, almost all of them originated from India. Almost all are newly minted Singapore citizens. So, the moment any oppo opens his mouth, some running dogs would come running and barking "Racists, Racists, Racists!"

See what has happened to Lim Tean for trying to call out the CECA issue?

Anonymous said...

Singapore will be saved if it becomes a state of India. Then no more allegations of racism.

Anonymous said...

Change name from Singapore to Sindiapore. Soon. Very soon

Anonymous said...

Smart lawyers in DBS also no use if they are Indians. Their loyalties probably is to India.

The Chinese have this saying: Rearing rats to gnaw at the rice sacks to get at the rice.

The English Language version: Biting the hands that feed them.

The Alternate version: The thief in the house is the most difficult to catch.

We probably have all three of them now in Red Dot.

Anonymous said...

I think DBS will have to be sued until bankrupt.

Only then, the stupid Singaporeans will wake up to the threat from India.

So yes.
We have to sacrifice DBS to wake up Singaporeans

Anonymous said...

DBS has been deliberately filled with Indians, like Citibank. But Citibank dares not become hero to go and bail out the the debt-infested failing Indian bank LVB. Why?

Anonymous said...

Why DBS got itself into this shit?

Are they so stupid, so careless to the point of negligent, or there is more to it than meets the eyes.

Anonymous said...

Cannot say like that lah. The garment cannot be so stupid or so blind to let DBS be filled with Indians lah. Even if someone want's to do it he would be stopped in his path lah.

Anonymous said...

Putting two and two together, there must be something amiss. It's very unnatural and uncanny, even sinister. That's why there should be a thorough commission of inquiry to get to the bottom of this dark bottomless pit that the Dumb Blur Stupid (DBS) has deliberately got itself into.

Anonymous said...

I think it may turn out to be the most well-planned and well executed fraud of the century.

Anonymous said...

This is like turning on a big pipe pouring money into India. The Indians are now salivating, wondering how much they are going to collect. They are pushing out all their pails in a long queue for free money.

Anonymous said...

Thank you DBS. Thank you Singapore.

Anonymous said...

Not much planning needed if the fish offered itself to be hooked.

Anonymous said...

If you were to examine the background of the actors at play, this intriguing case is curiously very fishy. The stench of rotten fish can be smelled thousands of miles away.

Anonymous said...

Despite this being a hot topic, all is quiet at the top of the glass tower.

As Woody woodpecker commented, no anything means everything is fine. But beware, because what he said over the years, like Goal 2010 and Swiss Standard of Living are just foul air released from the bottom orifice.

You just have to watch closely.

Anonymous said...

Rb dont worry lar as dbs very strong making like 6 billion profit so use one year profit should be enough to settle all the claims

Anonymous said...

So, you are suggesting that because DBS can afford it, therefore it can let its ex-Indian original CEO distributes some of the profits to his countrymen in India?

Anonymous said...

The big question is:

Has a crime been committed?

Anonymous said...

Not to worry. Even if a crime has been committed, there are lots of goats around to slaughter to appease the public.

i am no blogger - just a speck in the universe said...

Let's get serious; it's no laughing matter over the mounting lawsuits coming in.

Anonymous said...

This is like visiting a whore house without wearing pants and throwing away the French cap. All the lawsuits are avoidable, preventable. The fact that they are now faced with so many lawsuits and having to defend them says what?

Someone must be hanged for these lawsuits and all the claims that should have been written off or else no deal.