DBS bank confident of 15-17% ROE in next 3 to 5 years
SINGAPORE’S biggest bank DBS Group is confident of achieving a return on equity (ROE) of 15 per cent to 17 per cent in the medium term or over the next three to five years, its chief executive officer Piyush Gupta said on Thursday (Mar 28).
“Rates have come down from the 5.5 per cent. We think the new normal is closer to 3 per cent but even in that environment, we think we continue to deliver 15 to 17 per cent ROE,” he told shareholders at an annual general meeting.
ERP 2.0 on-board units to be installed in all new vehicles in Singapore from May 1
New vehicles registered in Singapore on or after May 1, 2024, will be fitted with on-board units (OBUs) that can support distance-based road pricing, or Electronic Road Pricing 2.0 (ERP 2.0).
This is the latest move to prepare for the shift away from the current ERP system, which relies on gantries in fixed locations, to satellite technology-based ERP 2.0.
New motorcycles were the first in line, with OBUs having already been installed from Feb 13, said the Land Transport Authority (LTA) on Thursday (Mar 28).
Household electricity, gas tariffs to fall in Q2
SINGAPOREAN households can expect to pay slightly lower electricity and gas rates in the second quarter of 2024, compared to the previous quarter.
On Thursday (Mar 28), state energy suppliers SP Group and City Energy each announced a decrease in tariffs for electricity and gas from Apr 1 to Jun 30, amid lower costs compared with the first quarter of 2024.
The electricity tariff will decrease by 0.3 per cent or S$0.001, to S$0.2979 per kilowatt-hour (kWh) before goods and services tax (GST), from S$0.2989 in Q1.
ComfortDelGro wins contracts to run buses in Manchester
METROLINE Limited, a wholly-owned subsidiary of , has won contracts worth £422 million (S$719.8 million), to operate four public-bus franchises in the UK for five years.
It will run buses for Greater Manchester’s Hyde Road, Sharston, Tameside and Wythenshawe franchises, the transport group said in a bourse filing on Thursday (Mar 28) night.
The contracts, awarded by the Greater Manchester Combined Authority, come with options to be extended for two one-year terms.
Seatrium’s former executives charged with bribery involving more than S$20 million in Brazil
TWO former executives, including a top executive, of offshore and marine (O&M) giant Seatrium (previously known as Sembcorp Marine), were charged with corruption offences on Thursday (Mar 28) for paying bribes of more than S$20 million to further the company’s business interests in Brazil.
Wong Weng Sun, 62, was charged at Singapore’s State Court with five counts of conspiring to corruptly give gratification to a former consultant with Seatrium, Guilherme Esteves de Jesus.
Wong was president, executive director and chief executive of Sembcorp Marine for 14 years. He stepped down from Seatrium in February 2023, following the merger of Sembcorp Marine and Keppel’s O&M unit.
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