20-10-2022, 06:47 PM
All ported from POSB. A lot mistaken POSB is POSB , DBS is DBS. Is not. POSB is under DBS. " In the last year of his presidency, Ong found out, through the newspapers, that the government aimed to submit a bill to Parliament to sell the Post Office Savings Bank to The Development Bank of Singapore Limited. The POSB was a government statutory board whose reserves were under the president's protection; the move according to Ong, was procedurally inappropriate and did not regard Ong's significance as the guardian of the reserves; he had to call and inform the government of this oversight. Still, the sale proceeded, and The Development Bank of Singapore Limited still owns the Post Office Savings Bank " https://en.wikipedia.org/wiki/Ong_Teng_Cheong