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
13-Apr-2016 17:45:31
Status
New
Announcement Sub Title
Establishment of a wholly-owned subsidiary
Announcement Reference
SG160413OTHRS0EW
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 today completed the establishment of a wholly-owned subsidiary, DBS Securities (Japan) Preparatory Company Limited ("DBS Japan"), in Tokyo, Japan.

The initial and paid-up share capital of DBS Japan is JPY150,000,000, comprising of 3,000 equity shares of JPY50,000 each. The principal activities of DBS Japan will be marketing of bonds, equities, and other securities when the license is granted by the local authorities for DBS Japan to conduct such activities.

The establishment of DBS Japan has no material impact on the consolidated net tangible assets or earnings of DBSH and its subsidiaries for the financial year ending 31 December 2016. None of the Directors or the controlling shareholder of DBSH has any interest, direct or indirect, in the establishment of DBS Japan.