DBS Reaffirms Presence In Indonesia

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Clarifies Bloomberg News Report

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No Current Plan To Surrender Securities License

SINGAPORE, OCT. 4 - DBS Group (DBS) said today it has no plans to exit its businesses in Indonesia.

DBS today responded to a report filed Wednesday morning (Oct 4) by Bloomberg News, dealing with DBS' securities arm in Indonesia. The report has been widely misinterpreted as reflecting plans by the company to withdraw from the Indonesia market.

DBS officials said that staff levels at DBS Securities Indonesia have been reduced commensurate only with reduced trading levels on the Jakarta Stock Exchange, but the Group had no current plan to surrender its license.