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Technology Stocks : Creative Labs (CREAF)

CREAF 0.440

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Dec 11 9:30 AM EST

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To: prakash who wrote (9524)	2/12/1998 10:39:00 AM
From: Savoirman	Read Replies (1) of 13925

Singapore News: There was a rumour reported in the South China Morning Post (a Hongkong newspaper) that DBS Bank (Singapore's largest in terms of assets), OUB (the smallest of the "Big4"), POSBank (a government-agency-type post office savings bank) and the soon-to-be merged Keppel and Tat Lee banks (phew what a mouthful) were going to be merged into one of the largest banks in Asia. None of the big banks would comment. Keppel and Tat Lee called it speculation. Yeah. Reported in the SCMP is no small beer. Usually these things come true, in some modified manner. Moral of the story: Now, if five (5) of Singapore's seven (7) banks (that makes 71% of Singapore's banks, BTW) can be forced/encouraged to merge, how difficult is it to pass legislation to enable share buybacks, which I might add is widely practiced and legal in Singapore's wannabe financial markets (US & Hongkong), is of no detriment to shareholders with proper corporate governance, and a useful tool to defend shareholder interests in times when the stock is under attack. Doubting Thomasses go figure. Meanwhile, go Creaf!

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