Is POSB a STATE OWN Bank?

[rambo22]

My banker told me that POSB is no longer a State-owned bank?

How true is it?

Isn't Temasek Holding the major share holder?

 

[TracyTan866]

My banker told me that POSB is no longer a State-owned bank?

How true is it?

Isn't Temasek Holding the major share holder?

POSB was owned by Singaporeans.

But it was given to DBS for free. No goodwill paid to Singaporeans. The DBS shareholders benefited at the expense of Singaporeans

Another PAP sin against Singaporeans

 

[rambo22]

POSB was owned by Singaporeans.

But it was given to DBS for free. No goodwill paid to Singaporeans. The DBS shareholders benefited at the expense of Singaporeans

Another PAP sin against Singaporeans

Isn't DBS state owned also?

Who are the major share holders of DBS?

 

[GOD IS MY DOG]

and i'm sure DBS shareholders will include Lee Family and their cronies....................


State-owned = owned by Lee Family...................

 

[TracyTan866]

Isn't DBS state owned also?

Who are the major share holders of DBS?

DBS is public listed...owned by many foreigners.

 

[TracyTan866]

and i'm sure DBS shareholders will include Lee Family and their cronies....................


State-owned = owned by Lee Family...................

State owned is by singapore govt for Singaporeans

 

[GOD IS MY DOG]

State owned is by singapore govt for Singaporeans

aiyah....................we all know the real deal lah....................

all state-owned companies are run by PAP cronies................S'poreans have no say at all...............PAP controlled by LKY...............so you say leh ?

reason why these companies become listed is so that LKY and his cronies can become shareholders ......................

 

[TracyTan866]

aiyah....................we all know the real deal lah....................

all state-owned companies are run by PAP cronies................S'poreans have no say at all...............PAP controlled by LKY...............so you say leh ?

reason why these companies become listed is so that LKY and his cronies can become shareholders ......................

dont be disheartened..just know that state owned companies are not legally LKY companies

 

[laksaboy]

My banker told me that POSB is no longer a State-owned bank?

How true is it?

Isn't Temasek Holding the major share holder?

POSB is nothing more than a subsidiary of DBS. I thought that's common knowledge.

Who owns DBS?

And just because a company is listed on the stock exchange, doesn't mean it is a private corporation.
Examples: Capitaland, Sembcorp, Singtel, NOL, SMRT.

Always ask yourself: who are the majority shareholders?

P.S: Your banker is an idiot.

 

[rambo22]

dont be disheartened..just know that state owned companies are not legally LKY companies

If that is the case, SIA is also public listed.

So it is not state owned.

But when the pilots strike, why OLD MAN kay poh leh??

 

[rambo22]

POSB is nothing more than a subsidiary of DBS. I thought that's common knowledge.

Who owns DBS?

And just because a company is listed on the stock exchange, doesn't mean it is a private corporation.
Examples: Capitaland, Sembcorp, Singtel, NOL, SMRT.

Always ask yourself: who are the majority shareholders?

P.S: Your banker is an idiot.

In that case, POSB is the BIGGEST IDIOTS cos the employ MANY IDIOTS.

 

[rambo22]

PROPOSAL FOR THE RELEASE OF THE GOVERNMENT FROM THE RESTRICTION ON SELLING NON-VOTING SHARES

DBS Bank wishes to announce its intention to approach its shareholders to authorise the Board of Directors to release the Government of the Republic of Singapore (the "Government") from its undertaking relating to the moratorium on the Non-Voting Convertible Preference Shares of S$1 each in the capital of DBS Bank ("Non-Voting Shares") issued to it in connection with the acquisition of the respective business undertakings of Post Office Savings Bank of Singapore and Credit POSB Pte Ltd (the "POSB Transaction"). In the agreement relating to the POSB Transaction entered into between the Government and DBS Bank, the Government undertook that, prior to 1 January 2002, it would not sell to any person (other than a wholly-owned entity which has executed a similar undertaking) any Non-Voting Shares issued to it or any Ordinary Shares converted from the Non-Voting Shares. This undertaking was referred to in the Circular dated 2 September 1998 issued by the Bank in connection with the POSB Transaction. Part of the Non-Voting Shares have been set aside for Finlayson Global Corporation Limited, a wholly owned subsidiary of Temasek Holdings (Pte) Ltd, in its issue of approximately US$941 million Privatisation Exchangeable Notes due 2004 ("PENS").

DBS Bank is of the view that with the above Restructuring and proposed merger of the local and foreign shares, the above-mentioned undertaking may no longer be necessary. The removal of the selling restriction on the Non-Voting shares will be beneficial to all shareholders as it will over time provide greater liquidity in the Bank’s Ordinary Shares. It is therefore proposed that the Ordinary Shareholders authorise the Directors to release, at their discretion, the Government from such undertaking.

The proposed release of the selling restriction on the Non-Voting Shares requires the approval of the Bank’s Ordinary Shareholders by way of ordinary resolution at a general meeting to be convened. Temasek Holdings (Pte) Ltd and MND Holdings (Private) Limited will abstain from voting in respect of this matter.

 

[giggity_shit]

without posb, dbs would have gone long ago

 

[Prometheus888]

without posb, dbs would have gone long ago

yeah the bunch of clowns bought some overpriced useless thai bank that nearly sunk their ship...after taking over posb for like $1 or ridiculous amount, after that they still acted damm yaya and cleared the POSB house by getting rid and replacing the posb staff with their own...

nobody knew anything then because nobody knows how to spread news like on the internet like the present...besides thats all water under the bridge...


anyways why are u so concerned whether it is state owned? because if you wanna know, your money in posb is only safe to the amount of $50k(as with any other deposit taking bank) so anything in excess to that amount when they lose if they collapse will be your own problem.

 

[streetsmart73]

My banker told me that POSB is no longer a State-owned bank?

How true is it?

Isn't Temasek Holding the major share holder?

hi there


1. aiyoh!
2. so much for transparency hoh.
3. ts, the only person that can provide you the besterest answer.
4. sheep's custodian, some white-haired sheep being paid millions

 

[Capano2121]

dont be disheartened..just know that state owned companies are not legally LKY companies

Nothing & nobody stops them treating the banks as their own piggy bank!

 

[halsey02]

POSB was owned by Singaporeans.

But it was given to DBS for free. No goodwill paid to Singaporeans. The DBS shareholders benefited at the expense of Singaporeans

Another PAP sin against Singaporeans

It had a "SAVINGS BANK LICENSE" in case you do not know, enjoyed a lot of benefits, COMMERCIAL BANK does not have, every thing here is owned by the STATE, the flat you live, the car you drive..and so forth.

 

[halsey02]

Nothing & nobody stops them treating the banks as their own piggy bank!

How about the "perpetually replenishing bank" "Cheat Perpetually Fund"?? aka C.P.F. ha ha ha

 

[TracyTan866]

If that is the case, SIA is also public listed.

So it is not state owned.

But when the pilots strike, why OLD MAN kay poh leh??

of course SIA is not state owned..

 

[rambo22]

of course SIA is not state owned..

Maybe OLD MAN bought a lot of the SIA shares.