Kevin Lim
Reuters
Singapore’s top lender DBS Group said on Monday its total exposure to Dubai is about S$1.8 billion ($1.28 billion).
It said in a statement it believed this exposure was manageable as a substantial portion was to Dubai-owned firms operating in Asia that it said were sound.
DBS shares dropped 2.98 percent on Monday on worries about its Dubai exposure, after a Singapore market holiday on Friday.
Asian stocks recovered on Monday after last week’s sell-off over the Dubai debt crisis on growing speculation the fallout from a potential default will be limited, though stocks in the United Arab Emirates tumbled as the market reopened.
http://www.reuters.com/article/hotStocksNews/idUSSGC00338820091130