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2021-11-25

Fall in share price is nothing to do with the service disruption … just simply the share price is too high

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The problems stemmed from the bank’s access control servers, resulting in customers’ inability to log in to the services, country head Shee Tse Koon said in a video clip on its Facebook page.</p>\n<p>“We acknowledge the gravity of the situation and as we work to resolve matters, we seek your patience and understanding,” Shee said. He apologized to customers and reassured them that their deposits are safe, adding that banking services at all its branches have been extended by two hours.</p>\n<p>The central bank has been following up closely with DBS since the disruptions began, Lim said. MAS agrees with DBS that the priority is to restore services, he said, without commenting on what potential supervisory actions the authority may take.</p>\n<p>Under MAS’s regulations, financial institutions need to ensure that the maximum downtime for each critical system doesn’t exceed four hours within any period of 12 months. In 2010, DBS set aside S$230 million ($168 million) in regulatory capital after its banking services failed for more than six hours following repairs.</p>\n<p>DBS in recent years has invested heavily to digitize its core banking business and set up new technology platforms. Such efforts have helped to boost the bank’s return-on-equity and have enabled the lender to reach more customers in all of its markets.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DBS stock fell 1% in Singapore</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDBS stock fell 1% in Singapore\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-11-25 10:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>DBS stock fell 1% in Singapore&nbsp;following a 2-day service disruption.</p>\n<p><img src=\"https://static.tigerbbs.com/2dc3d8db44d48826f6ab3837efb129c2\" tg-width=\"850\" tg-height=\"622\" width=\"100%\" height=\"auto\"></p>\n<p>Singapore’s central bank said it will consider supervisory actions after DBS Group Holdings Ltd. suffered&nbsp;one&nbsp;of the worst digital disruptions for Southeast Asia’s biggest lender in the past decade.</p>\n<p>“This is a serious disruption and MAS expects DBS to conduct a thorough investigation to identify the root causes and implement the necessary remedial measures,” Marcus Lim, assistant managing director at the Monetary Authority of Singapore, said in an emailed response to questions on Wednesday. “MAS will consider appropriate supervisory actions following the investigation.”</p>\n<p>The disruptions in DBS’s digital services -- an area where the Singapore-based bank has invested in heavily -- started early Tuesday and resurfaced the following day. The problems stemmed from the bank’s access control servers, resulting in customers’ inability to log in to the services, country head Shee Tse Koon said in a video clip on its Facebook page.</p>\n<p>“We acknowledge the gravity of the situation and as we work to resolve matters, we seek your patience and understanding,” Shee said. He apologized to customers and reassured them that their deposits are safe, adding that banking services at all its branches have been extended by two hours.</p>\n<p>The central bank has been following up closely with DBS since the disruptions began, Lim said. MAS agrees with DBS that the priority is to restore services, he said, without commenting on what potential supervisory actions the authority may take.</p>\n<p>Under MAS’s regulations, financial institutions need to ensure that the maximum downtime for each critical system doesn’t exceed four hours within any period of 12 months. In 2010, DBS set aside S$230 million ($168 million) in regulatory capital after its banking services failed for more than six hours following repairs.</p>\n<p>DBS in recent years has invested heavily to digitize its core banking business and set up new technology platforms. Such efforts have helped to boost the bank’s return-on-equity and have enabled the lender to reach more customers in all of its markets.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"D05.SI":"星展集团控股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113757092","content_text":"DBS stock fell 1% in Singapore following a 2-day service disruption.\n\nSingapore’s central bank said it will consider supervisory actions after DBS Group Holdings Ltd. suffered one of the worst digital disruptions for Southeast Asia’s biggest lender in the past decade.\n“This is a serious disruption and MAS expects DBS to conduct a thorough investigation to identify the root causes and implement the necessary remedial measures,” Marcus Lim, assistant managing director at the Monetary Authority of Singapore, said in an emailed response to questions on Wednesday. “MAS will consider appropriate supervisory actions following the investigation.”\nThe disruptions in DBS’s digital services -- an area where the Singapore-based bank has invested in heavily -- started early Tuesday and resurfaced the following day. The problems stemmed from the bank’s access control servers, resulting in customers’ inability to log in to the services, country head Shee Tse Koon said in a video clip on its Facebook page.\n“We acknowledge the gravity of the situation and as we work to resolve matters, we seek your patience and understanding,” Shee said. He apologized to customers and reassured them that their deposits are safe, adding that banking services at all its branches have been extended by two hours.\nThe central bank has been following up closely with DBS since the disruptions began, Lim said. MAS agrees with DBS that the priority is to restore services, he said, without commenting on what potential supervisory actions the authority may take.\nUnder MAS’s regulations, financial institutions need to ensure that the maximum downtime for each critical system doesn’t exceed four hours within any period of 12 months. 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