DBS to move 35% of Singapore staff into new Changi complex by 2010

[metalslug]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/411442/1/.html

DBS to move 35% of Singapore staff into new Changi complex by 2010
By Desmond Wong, Channel NewsAsia | Posted: 25 February 2009 2146 hrs

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SINGAPORE: DBS will be shifting 35 per cent of its Singapore workforce into its new Asia Hub in the Changi Business Park by the first quarter of next year. The lender marked the completion of structural works on the new building on Wednesday.

The structural works are done for DBS' new 340,000 square foot building at Changi Business Park.

When the building called the DBS Asia Hub is fully completed, the bank expects to relocate 2,400 staff from its Shenton Way offices and Technopark @ Chai Chee to the new location.

This will save on downtown rentals and provide other benefits.

Koh Boon Hwee, DBS Group chairman, said: "You can deploy people better rather than having them located in different buildings. Also, in terms of attracting employees, it's also easier for them to get to work, the parking is easier, and of course, in a location like this with the MRT coming up, I think it should be quite efficient".

While the total savings from the move are still unclear, DBS said it expects a cost reduction in rental to come to about 30 to 40 per cent.

The DBS Asia Hub is part of a multi-year strategic occupancy programme announced in 2007.

This includes relocating DBS' current headquarters to the Marina Bay Financial Centre in Singapore and various business units to two main locations in Hong Kong.

DBS is not the only bank to move operations out of Singapore's Central Business District.

Other lenders like Standard Chartered, Citibank and Credit Suisse are also taking similar strategies to build synergies and save on rentals. - CNA/vm

 

[congo9]

siao liao ......... when all the banks move all their operation to all these outskirt places, will there be more ERP ? Will the down town shentonway become GHOST TOWN ? Who will want to take this places up ?

 

[zuoom]

similar concern here. when they move 35% of staff out of the current Shenton way n Chai Chee location... what will become of that places?

 

[ahleebabasingaporethief]

You guys are quite slow.

The Real Reason and THE ONLY reason why they are shifting to Changi is to get their employees as far away from the IR as possible.

Imagine just walking to the IR for a lunch gamble and back to work? Imagine the rise in numbers of CBT cases.

Please also note the proposed date of moving ...2010...also around the time the IR will open for business lah

 

[congo9]

ok la , let the casino operator have more places ........ to BECOME a GAMBLING HUB !

 

[po2wq]

You guys are quite slow.

The Real Reason and THE ONLY reason why they are shifting to Changi is to get their employees as far away from the IR as possible.

Imagine just walking to the IR for a lunch gamble and back to work? Imagine the rise in numbers of CBT cases.

Please also note the proposed date of moving ...2010...also around the time the IR will open for business lah

wanna b world crass financial centre ... oso wanna b world crass gambling den ...

conflict of interest, isnt it? ...

y dun shift 2 jb? ...

 

[qwerty]

similar concern here. when they move 35% of staff out of the current Shenton way n Chai Chee location... what will become of that places?

built one more IR in shenton way

 

[popdod]

So they wanna push the prices of property up at outskirts..??

Imagine boon lay flats 3rm going for 300k??
or
loyang changi 400k.....

Huat liao arhh....

:p

 

[red amoeba]

I believe they will still house some of their staff at their cushy address at Shenton Way esp those priviate banking and corporate banking lah...the rest like backroom staff will fuck off to CBP. Then they can rent out excess space to other companies.

But with economy expected to be gloomy for years...i wonder who will take up the rentals...hantus?

 

[zuoom]

built one more IR in shenton way

haha, idea leh.