Asset Acquisitions and Disposals::Establishment of a wholly-owned subsidiary

Issuer & Securities

Issuer/ Manager
DBS GROUP HOLDINGS LTD
Securities
DBS GROUP HOLDINGS LTD - SG1L01001701 - D05
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
21-Dec-2015 19:06:18
Status
New
Announcement Sub Title
Establishment of a wholly-owned subsidiary
Announcement Reference
SG151221OTHR62LD
Submitted By (Co./ Ind. Name)
GOH PENG FONG
Designation
GROUP SECRETARY
Description (Please provide a detailed description of the event in the box below)
DBS Group Holdings Ltd ("DBSH") wishes to announce that its wholly-owned subsidiary, DBS Bank Ltd., has established a wholly-owned subsidiary, DBS Asia Hub 2 Private Limited ("DBS Asia Hub 2"), in Hyderabad, India, on 19th December 2015. The initial and paid-up share capital of DBS Asia Hub 2 is INR705,000,000, comprising of 70,500,000 equity shares of INR10 each. The principle activities of DBS Asia Hub 2 will be providing technology-related services to the DBS Group.

The establishment of DBS Asia Hub 2 has no material impact on the consolidated net tangible assets or earnings of DBSH and its subsidiaries for the financial year ending 31 December 2015. None of the Directors or the controlling shareholder of DBSH has any interest, direct or indirect, in the establishment of DBS Asia Hub 2.