Just last year, DBS attributed the mis-sale of H5 note to 'clerical mistake'. The customers were expected to spot it.
http://mycroeconomics.blogspot.com/2009/09/dbs-apparent-mistake.html
Today, DBS CEO apologized 7 days after a 7-hour failure in the bank IT system, attributed it to a 'procedural error'. IBM is probably expected to spot it.
http://www.dbs.com/sg/pages/announcement.aspx
Even though the CEO said the bank takes full responsibility of the event, I see no mention of DBS IT. The message keeps mentioning IBM, but where exactly is DBS IT?
The way the bank handles errors may be an error itself.
Great Website you've got. Very informative.
ReplyDeleteI was wondering whether you have any idea why Food Junction shares have been going up. Seems like some big timer is accumulating shares. Do you think there will be a big news coming soon?
Hi Linus,
ReplyDeleteThanks for the compliment.
On your question regarding Food Junction, let me look into it, and share my finding in my next post.