Singapore—The largest bank in Southeast Asia by assets is sending a message to investors: Singapore and its businesses can help them navigate the many uncertainties worldwide.
DBS Group CEO Chng Sze Sian said at the DBS Asia Future Forward conference in Singapore: "I love that our home, which we all call the 'Little Red Dot,' is open... predictable, and almost a little boring." Speaking of the city-state's nickname, she added, "In such a wildly volatile era, isn't 'boring' not such a bad thing?"
From trade wars and El Niño-related weather issues to the Iran conflict and the Russia-Ukraine war, the global investment and business environment has been disrupted. Singapore, with its AAA-rated debt, stable political environment, and central location in Asia, is regarded by many as a safe haven.
Chan Suk Shan said that DBS also has similar characteristics.
During a break in the meeting, she told CNBC that DBS has "one of the world's safest credit ratings." As of March 31, Temasek, which manages assets of S$518 billion ($404 billion), is DBS's largest shareholder. As a sovereign global investment company, Temasek is seen as contributing to Singapore's fiscal stability.
Chan Suk Shan said that DBS is also well-positioned to navigate global economic uncertainty.
She said: “Trade and supply chains are fragmenting. If you need to diversify your upstream supply chain due to concerns over geopolitics, blockages, war, or the Strait of Hormuz, DBS is the partner that can help you... We can assist clients in transitioning relatively quickly from one market to another.”
Chen Shushan also discussed employee management in the age of artificial intelligence and how to identify talent with the right skills to master this technology.
She said, “Humans are naturally flexible and agile... I tell all my managers to hire for attitude—because you can’t buy attitude, and you can’t train it.”
Ying Shan Lee of CNBC also contributed to this article.