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Old 08-01-2015, 12:31 PM   #2851
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dun so bad to them mah...they decline to comment because maybe they also scared for their job leh then cannot say much also....close down whole brokerage section, all those working those area also scared to kena retrench mah...
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Old 08-01-2015, 12:34 PM   #2852
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dun so bad to them mah...they decline to comment because maybe they also scared for their job leh then cannot say much also....close down whole brokerage section, all those working those area also scared to kena retrench mah...
Let's call together, and share the comments they give
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Old 08-01-2015, 12:37 PM   #2853
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Sinkie, cimb got take LSE shares? And what is the transfer procedure like? First time transferring shares
I just checked with my custodian

For Australia and uk shares, fee charged is $30 usd per counter
For the rest include nyse, sgx, there's no fee charged by cimb

But but but but, Scb will still charge you for handing fee etc

Cimb don't charges anything as of above except Australia and lse shares

This is when transfer between Scb sub custodian and cimb sub custodian

Still recommend you all to transfer back to Cdp for sgx shares, foreign share can still transfer in here.
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Old 08-01-2015, 12:40 PM   #2854
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Wat happens if I only have scb as my sole brokerage , shld i open a new brokerage (dbs vickers) asap and transfer ?
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Old 08-01-2015, 12:42 PM   #2855
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Sinkie, CIMB got custodian fees (monthly/yearly) for foreign shares?
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Old 08-01-2015, 12:43 PM   #2856
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decline to comment means got % chance to close !!!! if not they will just say wont close down !!!!!
ya... actually management should come out and make a clear statement and not let investors panic

if not closing, I think 100% they should be firm and response by saying not closing

by saying no comments... there's so much uncertainty that makes their customers uncomfortable... also they probably quite busy now, as those scared to die one today see the news already start to unwind or transfer their positions liao

u dun wanna be the last one still looking for a chair when the music ends
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Old 08-01-2015, 12:43 PM   #2857
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I just checked with my custodian

For Australia and uk shares, fee charged is $30 usd per counter
For the rest include nyse, sgx, there's no fee charged by cimb

But but but but, Scb will still charge you for handing fee etc

Cimb don't charges anything as of above except Australia and lse shares

This is when transfer between Scb sub custodian and cimb sub custodian

Still recommend you all to transfer back to Cdp for sgx shares, foreign share can still transfer in here.
Thanks sinkie

I don't have local counters with scb, only LSE counter. Looks like I have to pay the $30.
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Old 08-01-2015, 12:44 PM   #2858
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**** happens...
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Old 08-01-2015, 12:44 PM   #2859
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Wat happens if I only have scb as my sole brokerage , shld i open a new brokerage (dbs vickers) asap and transfer ?
I think it would be wise to open ASAP, in case you need to transfer SGX stocks to CDP. Otherwise can try CIMB as mentioned
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Old 08-01-2015, 12:44 PM   #2860
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Wat happens if I only have scb as my sole brokerage , shld i open a new brokerage (dbs vickers) asap and transfer ?
Yes go do it asap, best is open at the bank. Just open as many as u can, they are free to open
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Old 08-01-2015, 12:44 PM   #2861
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dun so bad to them mah...they decline to comment because maybe they also scared for their job leh then cannot say much also....close down whole brokerage section, all those working those area also scared to kena retrench mah...
ya, well said

I think in this situation, if put yourself in the shoes of the staff.. I think what's in their mind is not whether your accounts are fine or not... U imagine so many singaporeans working in SCB, they also fear wait kanna retrench cannot find job leh, how to pay the bills for car, house, kids, credit card, study loan etc... they even super more stress than us sia
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Old 08-01-2015, 12:44 PM   #2862
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ya... actually management should come out and make a clear statement and not let investors panic

if not closing, I think 100% they should be firm and response by saying not closing

by saying no comments... there's so much uncertainty that makes their customers uncomfortable... also they probably quite busy now, as those scared to die one today see the news already start to unwind or transfer their positions liao

u dun wanna be the last one still looking for a chair when the music ends
yeah, they is why i suggest everyone to call scb and ask, and see what are the replies they give.

i tio one sound like a pinay also.. not sure maybe she is just going thru motion.
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Old 08-01-2015, 12:45 PM   #2863
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Sinkie, CIMB got custodian fees (monthly/yearly) for foreign shares?
Yeah...if CIMB no charge for inactivity, platform, dividend and custodian fees, I'm in
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Old 08-01-2015, 12:45 PM   #2864
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Wat happens if I only have scb as my sole brokerage , shld i open a new brokerage (dbs vickers) asap and transfer ?
better safe than sorry, best open a few local brokerage house accounts.. harder to go wrong man
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Old 08-01-2015, 12:45 PM   #2865
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HONG KONG: Standard Chartered Bank will exit the institutional cash equities, equity research and Equities Capital Market (ECM) "with immediate effect", a Singapore-based spokesperson told Channel NewsAsia on Wednesday (Jan 8).

The move will lead to about 200 layoffs in the region - part of a wider plan that will see about 4,000 cuts, half of which were made in the last three months of last year, with the remainder expected during 2015, the bank said.

"This decision is purely related to our institutional cash and research business, along with ECM, and does not impact our core strategic aim of supporting the international trade, wealth and fixed income, currencies and commodities (FICC) needs of our corporate and affluent retail client base, under the refreshed strategy announced last year," the spokesperson in Singapore said, adding that a transition team will remain to manage the interim period.

"This will impact around 200 jobs, mainly in Hong Kong, Indonesia, Korea, India and Singapore," the spokesperson said, without offering a breakdown of the layoffs by territory. "There is a minimal presence in the UK and US."

4,000 LAYOFFS PLANNED

The bank's main British office on the same day issued a press release stating that the decision is part of a series of actions being taken to deliver at least US$400 million of cost savings targeted for 2015, as communicated to investors last November. The Group is already on track to achieve this aim, the bank said.

In the Retail Clients segment, the Group’s strategy of focusing on key cities and accelerating the switch to digital has resulted in around 2,000 job cuts announced or completed in the last three months. A reduction of a further 2,000 is expected during 2015, primarily to be achieved by not replacing staff when they leave, the bank said.

The bank - which has been struggling with rising bad loans - will close its stock broking, equity research and equity listing desks around the world, and cut more than 200 jobs, Reuters had reported earlier on Wednesday, quoting an internal memo and unnamed sources.

“(Standard Chartered) has not made any money in the last two years,” Reuters quoted a source as saying. The bank had failed to be among the top 10 banks globally for research or trading at the end of 2013, reported Reuters, citing a survey by Greenwich Associates.

The Asia-focused bank will be one of the first global banks to completely exit the equity capital markets business, according to Reuters. London-based Standard Chartered had said it would aim to cut costs by more than US$400 million in a bid to reverse declining profit growth, Reuters added.
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