NG Kee Choe
Economic Development of Singapore,
Accession Number 003043
- Oral History Centre
Source
- 3
Total Reels
- Shashi Jayakumar (Dr)
Interviewer
- 02:29:26
Total Running Time
- English
Language
Copyright Notice
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Reel/Disc 2 of 3
Metadata
- 26 Apr 2006
Recording Date
- 00:55:41
Running Time
- MP3
Format
- Citation/reproduction requires written permission from the source
Conditions Governing Access
- 29 Mar 2025
Date of Release
Synopsis
Work on personnel issues in DBS. M J Y Pillay’s views on personnel planning. Introduction of promotion/performance system. Other projects to expose promising officers. Some of the officers identified.
Other significant issues - DBS’ move into commercial banking. Introduction of DBS Autosave. Other banks unhappy at this. Discussions with MAS on the issue. Effect of 1985 recession on banking sector and DBS. Effect not comparable to 1997 Financial Crisis.
Own career progression. Role in starting DBS Finance. Also in charge of consumer banking in DBS (1980s). Both arms in competition (housing loans). DBS by late 1980s/early 1990s had become premier Singapore bank. Professional management. Preferred by foreign partners. Range of services offered. Question of Regionalisation.
Mr Ngiam Tong Dow’s Chairmanship of DBS. Issues pertaining to his tenure. Difficulties within DBS at this time. Relations with MAS. MAS’s policies on local and foreign banks. Competition between local/foreign banks. Mr Koh Beng Seng’s vision for local banks. After 1984 recession - Government’s consultation with local banks. Mr Lee Hsien Loong’s role. New initiatives and developments encouraged in the local economy/financial services. Own involvement in investment banking matters. Promotion of REITs market.
Reasons for DBS rising to top of local banking scene - Leadership, good hiring policy. Diversified involvement in various sectors.
Regionalisation. Rationale for this policy. Acquisition of Thai Danu Bank. Connected with Asian Financial Crisis. Affected DBS’s bottomline. Views on decisions taken on this acquisition.
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Reel/Disc 3 of 3
Metadata
- 9 May 2006
Recording Date
- 00:40:36
Running Time
- MP3
Format
- Citation/reproduction requires written permission from the source
Conditions Governing Access
- 29 Mar 2025
Date of Release
Synopsis
Acquisition of Kwong On Bank (1999). Significance of this acquisition. Reasons for DBS’s acquisition/regionalisation strategies. Effect of Asian Financial Crisis on DBS’s acquisitions - Thai Danu Bank. Formulae for successful regionalisation.
Competition from foreign banks in Singapore. DBS prepared for this. MAS’s policies for local banks and foreign banks.
Question of foreign talent in local banks. Mr S Dhanabalan’s views. John Olds. Changes and perceptions within DBS. Use of consultants. Treatment of senior management. Changes and reverses in policy within DBS. Phillipe Paillart. Jackson Tai. DBS’s apology over comments made on Mr Wee Cho Yaw. Comments made on OCBC and OCBC’s CEO Dr Cheong Choong Kong.Views on UOB’s takeover of OUB.
Asian Financial Crisis : DBS’s risk management for overseas acquisitions.
Views on overall development of financial markets in Singapore. DBS took advantage of opportunities as it was professionally run. Challenges in coming years. Banks must expand products. Investing in talent. Expanding overseas.
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