DBS's Piyush Gupta tackles questions ranging from Hyflux to climate change

Bank has been putting effort into educating investors; its policy on sustainable development is ahead of IEA's goal

Tay Peck Gek

Published Thu, Apr 25, 2019 · 09:50 PM

Singapore

DBS Group Holdings posted record earnings in 2018 but shareholders seemed more preoccupied with the bank's stand on duty of care and ethical investing at its annual general meeting on Thursday.

A shareholder fired the first question, on DBS' role in marketing Hyflux's perpetual securities offering and whether the bank's analysts had been "farsighted enough" to see the underlying issues that have beset Hyflux.

Speaking before an audience of over 1,000 shareholders at the Marina Bay Sands Expo, DBS chief Piyush Gupta replied: "It's obviously unfortunate that Hyflux is in the situation it is in, but DBS' disclosure was diligent and fulfilled the requirements, as much to the best of …