Latest news with #DBS
Business Insider
9 hours ago
- Business
- Business Insider
Singtel (SNGNF) Receives a Buy from DBS
DBS analyst Sachin Mittal maintained a Buy rating on Singtel (SNGNF – Research Report) today and set a price target of S$4.58. The company's shares closed last Tuesday at $3.16. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Mittal is a top 100 analyst with an average return of 22.4% and a 73.48% success rate. Mittal covers the Technology sector, focusing on stocks such as Accenture, Cognizant, and Infosys. Currently, the analyst consensus on Singtel is a Moderate Buy with an average price target of $3.31. Based on Singtel's latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6.99 billion and a net profit of $1.23 billion. In comparison, last year the company earned a revenue of $7.03 billion and had a net profit of $2.14 billion
Business Insider
9 hours ago
- Business
- Business Insider
HKR International Limited (HKR) Receives a Buy from DBS
In a report released today, Jeff Yau from DBS maintained a Buy rating on HKR International Limited (HKR – Research Report), with a price target of HK$1.19. The company's shares closed last Wednesday at €0.08. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Yau covers the Real Estate sector, focusing on stocks such as Sun Hung Kai Properties, Henderson Land Development Co, and Hongkong Land Holdings. According to TipRanks, Yau has an average return of 2.0% and a 68.48% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for HKR International Limited with a €0.13 average price target.
Straits Times
13 hours ago
- Business
- Straits Times
DBS expects economic value from its use of AI to exceed $1 billion in 2025
Since DBS began focusing on AI, the bank has created more than 350 use cases and has 1,500 models in production PHOTO: ST FILE DBS expects economic value from its use of AI to exceed $1 billion in 2025 SINGAPORE - Banks are ramping up their use of artificial intelligence (AI), and DBS – which has earned $750 million through its use of the technology – estimates that its economic value could surpass $1 billion in 2025. Since the bank began focusing on AI, it has created more than 350 use cases and has 1,500 models in production, said Rajeev Hassamal, DBS' head of generative AI and flow of work, at SuperAI Singapore, a two-day conference held at Sands Expo and Convention Centre. The conference participants at the event discussed, however, the challenges in striking a balance between innovation and responsible use of AI when developing AI models. 'Finding that sweet spot is very hard,' said Mr Hassamal. Speaking at a panel discussion on the integration between AI and finance, he emphasised the importance of equipping employees, regardless of role, with an understanding of how the technology works. 'We need to ensure people understand how to use this technology,' said Mr Hassamal, who showcased DBS' internal generative AI chatbot, DBS-GPT, which helps its employees with content generation and writing tasks, all within a secure environment. Speaking at a separate panel, Sambit Sahu, vice-president of applied research at Capital One, noted that the AI and machine-learning space has completely changed over the past five years. Large language models have progressed from doing simple tasks, to taking a more agentic approach, he noted. One use case of AI, he suggested, is in mimicking employees' tasks, but it does it more efficiently. '(Banks) deal with huge amounts of data, text, images, audio and also visuals,' he added. Sigrid Rouam, chief AI officer at EFG Bank, pointed out that generative AI can also be put to work on compliance-related tasks, such as checking the source of money from a bank's clients. AI can also assist with non-advisory related tasks – those that take up 70 per cent of relationship managers' time, she said. 'All of this should be completely automated and streamlined.' The Monetary Authority of Singapore (MAS) warned that guardrails need to be in place amid the race to implement AI in the financial sector. Kenneth Gay, MAS' chief fintech officer, said that the central bank takes regulation very seriously, given that the regard for regulation is a competitive advantage for Singapore. Project MindForge, an initiative by MAS in 2023, examined the risks and opportunities of generative AI for banks. Mr Gay said that since financial institutions are at the stage of building and deploying generative AI applications, they are seeking more clarity from the government about the sort of specific features that should be included. He added that MAS intends to release a playbook this year that will give institutions from across the segments of the financial sectors, including banking and insurance, more clarity regarding the key risk considerations across AI's key use cases. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Online Citizen
a day ago
- Online Citizen
Woman allegedly loses life savings after joining fake FB hiking group, installing suspicious app
A Singaporean woman allegedly lost her life savings after joining a Facebook group for hikers and being instructed to install a suspicious app. The incident was shared in a 9 June 2025 Facebook post by user Raji Vry, who described the victim as a close friend. According to the post, the woman had joined a Facebook group named 'Happy Strides', which appeared to be a legitimate platform for hiking enthusiasts. The administrator of the group, identified as Jamie, allegedly initiated contact with the woman on 7 June. Jamie instructed her to install an app called Azure Club to create a profile for the hiking community. This guidance reportedly took place over a WhatsApp call. During the installation, the woman's phone began to lag. Jamie allegedly told her that such behaviour was normal and advised her to let the program run. The phone temporarily went blank but then returned to normal. However, the next morning, the woman's debit card was declined while attempting to pay for lunch. She visited a DBS ATM and discovered only around S$100 remaining in her account. 'She tried to withdraw money from DBS ATM, but there was only about S$100 left in her cash balance,' Vry wrote in her Facebook post. That was when the woman realised something was amiss. Large sums had reportedly been siphoned from her accounts, and her digital token had been used for 15 separate purchases to a YouTrip account. Her transfer limits had allegedly been modified to allow larger transactions, and notifications were muted, making it difficult for her to notice the activity. In addition, her emails were reportedly compromised. Both her DBS accounts were emptied. According to Vry, 'That's her life savings and she was planning to retire.' A police report has since been filed. Vry warned others on Facebook and Instagram, especially those involved in hiking communities, to remain vigilant. 'Stay alert if you receive any links in your messengers,' she cautioned. Other Facebook user reports near miss after refusing to share bank details with group admin Comments on Vry's post included another Facebook user claiming a similar experience. The user said the group admin asked her for payment details via a link. When she refused, the admin blocked her. Local media outlet Stomp also covered the incident, reporting that photos used by 'Happy Strides' were taken from other hiking groups. One image posted on 20 May had originally appeared on the Exploring Singapore Hiking Group page on 15 December 2024. Legitimate hiking group distances itself, warns members of photo misuse by scam page In response, the Exploring Singapore Hiking Group issued a clarification on 19 June 2025. Its administrator accused 'Happy Strides' of using their photos without consent. 'We are NOT associated with 'Happy Strides' in any way. This is a fraudulent group,' the group stated. They urged their members to be cautious and never to share personal or banking information without verification. As of 19 June, the 'Happy Strides' Facebook group was no longer accessible.
Business Times
a day ago
- Business
- Business Times
DBS expects economic value from its use of AI to exceed S$1 billion in 2025
[SINGAPORE] Banks are ramping up their use of artificial intelligence (AI), and DBS – which has earned S$750 million through its use of the technology – estimates that its economic value could surpass S$1 billion this year. Since the bank began focusing on AI, it has created more than 350 use cases and has 1,500 models in production, said Rajeev Hassamal, DBS' head of generative AI and flow of work, at SuperAI Singapore, a two-day conference being held at Sands Expo and Convention Centre. The conference participants at the event discussed, however, the challenges in striking a balance between innovation and responsible use of AI when developing AI models. 'Finding that sweet spot is very hard,' said Hassamal. Speaking at a panel discussion on the integration between AI and finance, he emphasised the importance of equipping employees, regardless of role, with an understanding of how the technology works. 'We need to ensure people understand how to use this technology,' said Hassamal, who showcased DBS' internal generative AI chatbot, DBS-GPT, which helps its employees with content generation and writing tasks, all within a secure environment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Speaking at a separate panel, Sambit Sahu, vice-president of applied research at Capital One, noted that the AI and machine-learning space has completely changed over the past five years. Large language models have progressed from doing simple tasks, to taking a more agentic approach, he noted. One use case of AI, he suggested, is in mimicking employees' tasks, but it does it more efficiently. '(Banks) deal with huge amounts of data, text, images, audio and also visuals,' he added. Sigrid Rouam, chief AI officer at EFG Bank, pointed out that generative AI can also be put to work on compliance-related tasks, such as checking the source of money from a bank's clients. AI can also assist with non-advisory related tasks – those that take up 70 per cent of relationship managers' time, she said. 'All of this should be completely automated and streamlined.' The Monetary Authority of Singapore (MAS) warned that guardrails need to be in place amid the race to implement AI in the financial sector. Kenneth Gay, MAS' chief fintech officer, said that the central bank takes regulation very seriously, given that the regard for regulation is a competitive advantage for Singapore. Project MindForge, an initiative by MAS in 2023, examined the risks and opportunities of generative AI for banks. Gay said that since financial institutions are at the stage of building and deploying generative AI applications, they are seeking more clarity from the government about the sort of specific features that should be included. He added that MAS intends to release a playbook this year that will give institutions from across the segments of the financial sectors, including banking and insurance, more clarity regarding the key risk considerations across AI's key use cases.
