DBS CEO Piyush Gupta said at a briefing,
"The whole sector is under stress. Let's start with that. I don't want to minimize the challenges faced by the sector. Even at the US$40-45 oil prices, many are cancelling contracts... so the sector is challenged and there will be some impact, "
"But there are some positives. In the last 6 weeks, a couple of the oil majors have started putting in investments. Many people's view is that oil prices firmed up to the US$50-60 level over the next 12 months... but that's looking into the future, we don't know (for sure),"
Furthermore, DBS's oil and gas exposure up by another S$1B. Other banks are not so better off either although, DBS's S$23B exposure to the sector is bigger than UOB 14B and OCBC 12.6B!
Nah... we only like to hear the nice stories, stock analysis that can make us rich......
Mind you, this is also not about glorifying myself saying how accurate my predictions are. I seriously do not care about all these glorifies. It brings me no happiness or feels good factor. It is more sadness for me to see majority of people's reactions today.
Oh ya... a friend of mine while we were chit chatting the other day, just reminded me that in Christianity all those who proselytize the truth will be persecuted! Shee.......