Singapore – By asset size, Southeast Asia's largest bank is sending a message to investors: Singapore and its businesses can help them cope with the many uncertainties around the world.
DBS Group CEO Chen Shushan stated at the DBS Asia Future Forward conference held in Singapore: "I really like that what we all call 'Little Red Dot' is open... predictable, and almost a bit boring." When referring to the nickname for this city-state of Singapore, she said, "In an era of such great volatility, 'boring' isn't a bad thing, right?"
From trade wars and El Niño-related weather issues to conflicts in Iran and the Russia-Ukraine war, the global investment and business environment has been disrupted. Singapore, with its AAA rated debt, stable political environment, and its central location in Asia, is regarded by many as a stronghold of stability.
Chen Shushan stated that DBS also possesses similar characteristics.
During a break in the meeting, she said in an interview with CNBC that DBS has "one of the safest credit ratings in the world." As of March 31, Temasek, which manages assets amounting to 518 billion Singapore dollars (404 billion US dollars), is the largest shareholder of DBS. As a state-owned global investment company, Temasek is considered to contribute to Singapore's financial stability.
Chen Shushan stated that DBS is also in a favorable position to cope with global economic uncertainties.
She said, "Both trade and supply chains are becoming fragmented. If you need to diversify your upstream supply chain due to concerns about geopolitics, blockages, wars, and the Strait of Hormuz, DBS can be your partner to help you... We can assist our clients in quickly transitioning from one market to another."
Chen Shushan also discussed employee management in the era of artificial intelligence, as well as how to find talents with the appropriate skills to harness this technology.
She said, "Humans are naturally flexible and agile... I tell all my managers that when hiring, attitude is what matters most—because you know, attitude cannot be bought or trained."
—— CNBC's Ying Shan Lee has also contributed to this article.
