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    D05   SG1L01001701

DBS GROUP HOLDINGS LTD

(D05)
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DBS Group Begins Trading Commodities on London Metals Exchange

06/21/2021 | 01:12am EDT

By Clarence Leong

DBS Group Holdings Ltd. has begun trading commodities on the London Metals Exchange, the world's major trading platform for industrial metals.

The Singaporean bank is currently one of four Category 4 members on the LME, which allows it to trade and issue client contracts but doesn't give it clearing abilities. It is also the first bank in Asia to be issued a LME membership registered outside of London, it said Monday.

DBS's corporate clients across Asia can tap the LME's extensive network of warehouses to hedge their metal trades in preferred markets, the bank said.

Metal prices have leapt ahead in recent months thanks the global economic recovery from the coronavirus pandemic and substantial fiscal stimulus from governments. A global decarbonization drive and investments in green technology also caused a boom in demand for metals like copper.

"The LME membership will provide our clients in the metals and mining space with the option to access sustainably-produced metal," said Tan Su Shan, DBS' Group Head of Institutional Banking. "Metals are an essential enabler to achieve a sustainable future."

The LME is owned by Hong Kong Exchanges & Clearing Ltd.

Write to Clarence Leong at clarence.leong@wsj.com

(END) Dow Jones Newswires

06-21-21 0111ET

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Financials
Sales 2021 14 644 M 10 768 M 10 768 M
Net income 2021 6 319 M 4 646 M 4 646 M
Net Debt 2021 - - -
P/E ratio 2021 12,2x
Yield 2021 3,73%
Capitalization 77 584 M 57 045 M 57 047 M
Capi. / Sales 2021 5,30x
Capi. / Sales 2022 4,96x
Nbr of Employees 29 000
Free-Float 98,4%
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Mean consensus BUY
Number of Analysts 21
Last Close Price 30,21 SGD
Average target price 32,71 SGD
Spread / Average Target 8,29%
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Managers and Directors
Piyush Gupta Vice Chairman & Chief Executive Officer
Sok Hui Chng Chief Financial Officer
Lim Huat Seah Non-Independent Non-Executive Chairman
Jimmy Ng Chief Information Officer & Head-Operations
Chee Kin Lam MD, Head-Legal & Group Compliance Officer