Reuters, 6 Nov 2009
SINGAPORE, Nov 6 (Reuters) - Eight years after burning its fingers on a pricy acquisition in Hong Kong, Singapore's DBS Group Holdings Ltd (DBSM.SI), Southeast Asia's biggest bank, faces a dilemma -- stick to growing its existing business or beef up its Asia presence with a significant buy.
Memories of the Dao Heng purchase -- DBS paid $5.8 billion in 2001 and then had a big writedown in late 2005 -- still haunt DBS as critics say the acquisition failed to deliver value for money.
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