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- wong chee tat :)
Tuesday, November 3, 2015
Nov 2015 Singapore Savings Bonds - GX15120V
Issuance details - GX15120V
| Bond ID |
GX15120V
|
|---|---|
| Amount available |
$1 . 2 billion
|
| Issue date |
1 Dec 2015
|
| Maturity date |
1 Dec 2025
|
| Interest payment dates |
The 1st interest payment will be made on 1 June 2016, and
subsequently on the 1st business days in December and June. |
| Investment amounts |
You can invest a minimum of $500, and in multiples of $500 up
to $50,000 for this issue. The total amount of Savings Bonds held across all issues cannot be more than $100,000. |
| Application period |
Opens: 6.00pm, 2 Nov 2015
Closes: 9.00pm, 25 Nov 2015 Results: After 3.00pm, 26 Nov 2015 Keep track of the important dates with our SSB calendar. |
| Apply through |
DBS/POSB, OCBC and UOB ATMs and DBS/POSBInternet Banking,
from 7.00am - 9.00pm, Mon - Sat, excluding Public Holidays. CPF and SRS funds are not eligible. |
This bond will be reflected as "SBDEC15 GX15120V" in your CDP statement and "CDP-SBDEC15" in your bank statement.
Interest rates
* At the end of each year, on a compounded basis
Calculate the interest you will earn based on your desired investment amount using the Interest Calculator.
- wong chee tat :)
Standard Chartered axes 15,000 jobs, announces US$5.1b capital raise
Standard Chartered axes 15,000 jobs, announces US$5.1b capital raise
The job losses are part of a major restructuring that will cost around US$3 billion, the bank said.
POSTED: 03 Nov 2015 16:52 UPDATED: 03 Nov 2015 23:39
HONG KONG: Asia-focused British bank Standard Chartered said on Tuesday (Nov 3) it would axe 15,000 jobs and raise US$5.1 billion in capital after posting a "disappointing" third-quarter loss as it struggles to return to growth.
The job losses are part of a major restructuring that will cost around US$3 billion, the bank said. A Standard Chartered spokeswoman said she could not give any further details of the job cuts.
When contacted, a spokesperson from StanChart Singapore declined to say if the job cuts would affect Singapore operations.
More than half of the restructuring costs would come from potential losses on liquidating assets and businesses, the bank said in a statement.
The remaining charges would be from "potential redundancy costs" of a planned headcount reduction of 15,000, as well as goodwill write-downs, it added.
The bank reported an unexpected pre-tax quarterly loss of US$139 million compared with a US$1.53 billion profit a year earlier, in a performance described as "disappointing" by group chief executive Bill Winters.
Revenue was down 18.4 per cent to US$3.68 billion and impairment losses increased from US$536 million to US$1.23 billion for the quarter.
Shares in the bank plunged as much as 6.2 per cent on the Hong Kong stock exchange in the wake of the results and closed down nearly 3 per cent - its stock value has fallen around 30 per cent in the past year.
"I know a lot of people losing their jobs is not good, (but) from a business point of view, that's what they have to do," Hong Kong-based financial analyst Jackson Wong told AFP.
Wong said loan losses were the main reason the bank swung to a pre-tax loss, adding that it needed to "control costs and try to remodel (its) business".
RIGHTS ISSUE
Standard Chartered announced a plan to raise US$5.1 billion in capital through a rights issue, and a strategic review that raised its cost-cutting target to US$2.9 billion between 2015 and 2018.
It added it was refocusing on "affluent retail clients" rather than corporate and institutional banking businesses and would exit or restructure US$100 billion of assets.
"The business environment in our markets remains challenging and our recent performance is disappointing," Winters said in a statement filed to the Hong Kong bourse.
"The plans we have outlined today significantly reallocate resources to change fundamentally the mix of the group towards more profitable and less capital-intensive business," Winters said in a separate statement detailing the strategic plan.
Winters, former co-head of JP Morgan, took the reins from Peter Sands in June after shareholder calls for a boardroom cull following profit warnings.
The bank said in January it would axe 2,000 jobs around the world in 2015 in an attempt to make savings of US$400 million in a structural overhaul.
It had already shed 2,000 jobs in the three months before January.
Standard Chartered saw its profits plunge in the first half of this year, with net profit slumping 36.7 per cent in the six months to June compared to the period in 2014.
Bosses at the bank gave up their bonuses after profits fell by more than a third in 2014, sliding 37 per cent to US$2.51 billion.
- AFP/CNA/ec
- wong chee tat :)
The job losses are part of a major restructuring that will cost around US$3 billion, the bank said.
POSTED: 03 Nov 2015 16:52 UPDATED: 03 Nov 2015 23:39
HONG KONG: Asia-focused British bank Standard Chartered said on Tuesday (Nov 3) it would axe 15,000 jobs and raise US$5.1 billion in capital after posting a "disappointing" third-quarter loss as it struggles to return to growth.
The job losses are part of a major restructuring that will cost around US$3 billion, the bank said. A Standard Chartered spokeswoman said she could not give any further details of the job cuts.
When contacted, a spokesperson from StanChart Singapore declined to say if the job cuts would affect Singapore operations.
More than half of the restructuring costs would come from potential losses on liquidating assets and businesses, the bank said in a statement.
The remaining charges would be from "potential redundancy costs" of a planned headcount reduction of 15,000, as well as goodwill write-downs, it added.
The bank reported an unexpected pre-tax quarterly loss of US$139 million compared with a US$1.53 billion profit a year earlier, in a performance described as "disappointing" by group chief executive Bill Winters.
Revenue was down 18.4 per cent to US$3.68 billion and impairment losses increased from US$536 million to US$1.23 billion for the quarter.
Shares in the bank plunged as much as 6.2 per cent on the Hong Kong stock exchange in the wake of the results and closed down nearly 3 per cent - its stock value has fallen around 30 per cent in the past year.
"I know a lot of people losing their jobs is not good, (but) from a business point of view, that's what they have to do," Hong Kong-based financial analyst Jackson Wong told AFP.
Wong said loan losses were the main reason the bank swung to a pre-tax loss, adding that it needed to "control costs and try to remodel (its) business".
RIGHTS ISSUE
Standard Chartered announced a plan to raise US$5.1 billion in capital through a rights issue, and a strategic review that raised its cost-cutting target to US$2.9 billion between 2015 and 2018.
It added it was refocusing on "affluent retail clients" rather than corporate and institutional banking businesses and would exit or restructure US$100 billion of assets.
"The business environment in our markets remains challenging and our recent performance is disappointing," Winters said in a statement filed to the Hong Kong bourse.
"The plans we have outlined today significantly reallocate resources to change fundamentally the mix of the group towards more profitable and less capital-intensive business," Winters said in a separate statement detailing the strategic plan.
Winters, former co-head of JP Morgan, took the reins from Peter Sands in June after shareholder calls for a boardroom cull following profit warnings.
The bank said in January it would axe 2,000 jobs around the world in 2015 in an attempt to make savings of US$400 million in a structural overhaul.
It had already shed 2,000 jobs in the three months before January.
Standard Chartered saw its profits plunge in the first half of this year, with net profit slumping 36.7 per cent in the six months to June compared to the period in 2014.
Bosses at the bank gave up their bonuses after profits fell by more than a third in 2014, sliding 37 per cent to US$2.51 billion.
- AFP/CNA/ec
- wong chee tat :)
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