Swiber

[Blueray]

  On 8/5/2016 at 1:43 AM, Ttl1976 said:

Dbs is falling.

standby......

 

JP Morgan put out Sell call on DBS ... other brokeages will also follow with sell calls ...

[Ktglfc]

  On 8/5/2016 at 1:52 AM, Blueray said:

JP Morgan put out Sell call on DBS ... other brokeages will also follow with sell calls ...

 

Sell and we buy ... huat ah :))

 

Or wait ...

 

 

 

 

 

They are announcing the result in the early morning of 8 Aug ... may go down further !

Edited August 5, 2016 by Ktglfc

[Ttl1976]

  On 8/5/2016 at 1:52 AM, Blueray said:

JP Morgan put out Sell call on DBS ... other brokeages will also follow with sell calls ...

I will jib once it hit $13 or below

[Wt_know]

if only swiber bad loans ... sup sup water

the worry is cascading effect

if swiber bite the dust ... what about other O&G companies the small-to-middle size operators ...

kepcock should be safe right? but got this bribe scandal brewing leh ...

Edited August 5, 2016 by Wt_know

[Blueray]

if everything go haywire ... when we reach withdrawal age ... instead of cash, we get a portfolio of DBS, Keppel, Sembawang ... 

[Ttl1976]

  On 8/5/2016 at 1:55 AM, Ktglfc said:

Sell and we buy ... huat ah :))

 

Or wait ...

 

 

 

 

 

They are announcing the result in the early morning of 8 Aug ... may go down further !

buy when pple sell

sell when pple buy....

 

if not, how to earn kopi money?

[Little_prince]

  On 8/5/2016 at 1:56 AM, Ttl1976 said:

I will jib once it hit $13 or below

14+ Liao. V near!

[Throttle2]

Easily $12. in my opinion

[Yeshe]

  On 8/5/2016 at 12:22 PM, Throttle2 said:

Easily $12. in my opinion

 

i more greedy, $10 [laugh]

[Ttl1976]

  On 8/5/2016 at 1:10 PM, Yeshe said:

i more greedy, $10 [laugh]

almost jib today.....

but seeing the comments.....

 

i shall wait.

[Blueray]

Swiber saga DBS says bond sales driven by demand

 

Bank adds that Swiber and oil prices were both going strong when bonds rolled out

 

The Swiber Holdings bonds sold by DBS Bank to clients were rolled out to voracious demand, at a time when the company and oil prices were going strong. So DBS should not be singled out for scrutiny over bondholders' exposure to Swiber's demise, a bank spokesman noted, in response to claims that DBS and its staff may have pushed the Swiber bonds to clients who were little aware of the products' risk profile.

 

Swiber this week defaulted on its semi-annual payment for its $150 million 001 Trust Certificates.

A self-employed man, who wanted to be known only as Mr Jin, said he had invested $500,000 in two Swiber bond issues through DBS. "I was simply following the advice of my relationship manager, who never told me much about the company. I just thought, a bank in Singapore, with this much regulation, would not recommend risky investments," the 44-year-old said.

 

DBS said the sale was driven by demand: "Many clients were reaching out to us and... private banks for yield instruments, given the very low interest rate environment."

 

There are two outstanding vanilla Singdollar Swiber bonds: a $160 million issue in 2013, with an annual yield of 7.125 per cent, got orders of $240 million; and a $100 million issue in 2014, with a 5.55 per cent yield, had over $500 million worth of orders. The bonds were distributed by various banks here, including United Overseas Bank and OCBC.

 

Market conditions were positive, and concerned investors had plenty of chances to exit, DBS added.

"The two bonds were issued in 2013 and 2014, when oil prices were still above US$100 a barrel and Swiber stock was trading above $1."

 

The Swiber bonds were available only to accredited investors - with net personal assets of more than $2 million - or those investing a minimum of $250,000.

 

Mr Jin said: "I'm a new immigrant and could barely understand English. I just signed whatever papers the relationship manager gave me."

 

Another investor, who asked to be known only as Laura, 34, and a banker, said: "My banker said DBS could lend me money to invest, so I'm 50 per cent leveraged on Swiber bonds. Now they've defaulted, I'm asked to pay the bank $250,000 by next Tuesday to cover the margin."

 

The DBS spokesman said: "DBS does lend against all eligible and acceptable market securities, and investment leverage is offered to wealth customers based on prudent underwriting standards. This includes imposing criteria on the credit quality and duration of fixed income securities as well as requiring the underlying investments of each customer to be diversified."

 

DBS relationship managers are rewarded based on a balanced scorecard, and there is no direct link between sales targets and remunerations, the spokesman added.

 

http://www.straitstimes.com/business/swiber-saga-dbs-says-bond-sales-driven-by-demand

Edited August 6, 2016 by Blueray

[Wt_know]

swim naked ... now must cover $250k margin ... ho say liao

 

  Quote

Another investor, who asked to be known only as Laura, 34, and a banker, said: "My banker said DBS could lend me money to invest, so I'm 50 per cent leveraged on Swiber bonds. Now they've defaulted, I'm asked to pay the bank $250,000 by next Tuesday to cover the margin."

Edited August 6, 2016 by Wt_know

[Voodooman]

  On 8/6/2016 at 2:02 AM, Blueray said:

Swiber saga DBS says bond sales driven by demand

 

Bank adds that Swiber and oil prices were both going strong when bonds rolled out

The Swiber Holdings bonds sold by DBS Bank to clients were rolled out to voracious demand, at a time when the company and oil prices were going strong. So DBS should not be singled out for scrutiny over bondholders' exposure to Swiber's demise, a bank spokesman noted, in response to claims that DBS and its staff may have pushed the Swiber bonds to clients who were little aware of the products' risk profile.

Swiber this week defaulted on its semi-annual payment for its $150 million 001 Trust Certificates.

A self-employed man, who wanted to be known only as Mr Jin, said he had invested $500,000 in two Swiber bond issues through DBS. "I was simply following the advice of my relationship manager, who never told me much about the company. I just thought, a bank in Singapore, with this much regulation, would not recommend risky investments," the 44-year-old said.

DBS said the sale was driven by demand: "Many clients were reaching out to us and... private banks for yield instruments, given the very low interest rate environment."

There are two outstanding vanilla Singdollar Swiber bonds: a $160 million issue in 2013, with an annual yield of 7.125 per cent, got orders of $240 million; and a $100 million issue in 2014, with a 5.55 per cent yield, had over $500 million worth of orders. The bonds were distributed by various banks here, including United Overseas Bank and OCBC.

Market conditions were positive, and concerned investors had plenty of chances to exit, DBS added.

"The two bonds were issued in 2013 and 2014, when oil prices were still above US$100 a barrel and Swiber stock was trading above $1."

The Swiber bonds were available only to accredited investors - with net personal assets of more than $2 million - or those investing a minimum of $250,000.

Mr Jin said: "I'm a new immigrant and could barely understand English. I just signed whatever papers the relationship manager gave me."

Another investor, who asked to be known only as Laura, 34, and a banker, said: "My banker said DBS could lend me money to invest, so I'm 50 per cent leveraged on Swiber bonds. Now they've defaulted, I'm asked to pay the bank $250,000 by next Tuesday to cover the margin."

The DBS spokesman said: "DBS does lend against all eligible and acceptable market securities, and investment leverage is offered to wealth customers based on prudent underwriting standards. This includes imposing criteria on the credit quality and duration of fixed income securities as well as requiring the underlying investments of each customer to be diversified."

DBS relationship managers are rewarded based on a balanced scorecard, and there is no direct link between sales targets and remunerations, the spokesman added.

http://www.straitstimes.com/business/swiber-saga-dbs-says-bond-sales-driven-by-demand

Caveat emptor but investors will still blame the RM who recommended the Swiber bond.

[Throttle2]

After the last crisis, bank clients still stupid enough to make such claims?

 

Go in with your eyes open.

 

Even Lehman was rated A, a day before it went under.

 

Buy Swiber debts when everyone knows that O & G is already deeply underpressure?

You better have a big risk appetite, Mr Jin!

Leveraged on something already heavily leveraged? You better hv big risk appetite Laura!

 

Dont kpkb when lose.

 

Becos when you make money, you are not going to share any either!

 

Pwui lah dont throw the faces of private investors.

Really hate this kind of lame investors.

[Tedlhw]

  On 8/5/2016 at 1:56 AM, Ttl1976 said:

I will jib once it hit $13 or below

 

then when hit $13, you will say wait for $10..Hit 10,  you will say wait for $8

Go back to $10, you will say shit.. wait for it to came back to $8

Then hit $13.. Aiya should have bought. at $10.. nvm so ex now.. can wait..

Hit $15... wah lau crap.. Better buy now, if not boat run away...

Edited August 6, 2016 by Tedlhw

[Enye]

no wonder we import so many mr jin into our country

 

support the wealth management industry and local companies

 

 

[Wt_know]

haha ... that's why majority buys at $15 ...

 

  On 8/6/2016 at 9:57 AM, Tedlhw said:

then when hit $13, you will say wait for $10..Hit 10, you will say wait for $8

Go back to $10, you will say shit.. wait for it to came back to $8

Then hit $13.. Aiya should have bought. at $10.. nvm so ex now.. can wait..

Hit $15... wah lau crap.. Better buy now, if not boat run away...

[Throttle2]

KNN,

" i am a new immigrant, i barely understand English, i sign whatever papers the relationship manager gave me .

 

Ning na buei, understand?

 

Barely understand why you migrate to Singapore ?

singapore's national language (first language) is English ok!

Edited August 6, 2016 by Throttle2