TODAY'S HEADLINE
DBS BANK  
DBS Bank has jacked up its 'xed deposit (FD) rates in a bid to retain its customers.

Since Aug 15, Singapore's biggest bank has raised the FD rates for tenures of three to 24 months for amounts ranging from $1,000 to $999,999.
For three to 've'month deposits, the new rate is 0.10 per cent, up from 0.05 per cent. For 18 months, the new rate is 0.50 per cent, up from 0.10 per cent previously. For 24 months, it is 0.55 per cent, up from 0.125 per cent.

For one to two'month deposits, the rate remains unchanged at 0.05m per cent. A DBS spokeswoman said the revision was in alignment with market rates.

DBS's deposits dipped to $230.6 billion in Q2 from $232.2 billion in Q1.

The other two local banks  '  OCBC Bank and United Overseas Bank (UOB) ' have so far opted for short'term promotions. OCBC has upped the ante for its hybrid savings account. Yesterday, it o'ered savers $800 cash if they left  $500,000 with the bank for at least six months, which will enjoy 1.08 per cent interest for certain months and 0.6 per cent in other months. The promotion is from Aug 29 to Sept 28.

UOB's seven'month FD promotion, which ends tomorrow, pays one per cent for a minimum deposit of $20,000. BT understands that UOB will roll out more deposit promotions in the coming months.

NEWS BUZZ
SembCorp Marine (S$5.02) 
Wins Brazil deal worth US$674m
SembCorp Marine has clinched a US$674mil contract to carry out work for two 'oating production storage and o'oading vessels (FPSOs) in Brazil. It requires it to build eight modules and do module integration works for the two vessels, P'68 and P'71. The contract raises the group's year'to'date new orders to S$9.1bil and its net order book to S$12.6bil. As part of the agreement, there is a similar contract option to construct four modules and do module integration for an FPSO, to be exercised within 18 months of the contract signing, the company said.

Keppel Corporation (S$11.26) 
Issue $300m 30-year notes
Keppel Corporation has issued $300mil worth of 30'year senior unsecured 'xed rate notes, breaking ranks with corporate'bond issuers before it with its longer' dated maturity. The notes will pay out 4% a year through semi'annual coupons.
Keppel has a call option to redeem this tranche of 30'year notes at par 20 years after their issue date and at every coupon payment date thereafter. Credit Suisse acted as the sole bookrunner for this bond issuance.

Sembcorp Industries (S$5.58) 
In urban development venture
SembCorp Industries' wholly owned subsidiary, Sembcorp Development (SemDev), is co'developing an 860'hectare urban development in Kendal Regency, Central Java, Indonesia with PT Grahabuana Cikarang (GBC). Under the agreement, Sembcorp and GBC will incorporate a 49:51 joint venture company in Indonesia with an initial issued capital of US$20mil.

Yongnam Holdings (S$0.23) 
Wins $21.3m deal in Malaysia
Yongnam Holdings said it has secured a $21.3mil contract to supply, fabricate, surface'treat and deliver 7,000 tonnes of structural steel for a belt conveyor structure for German company Beumer Maschinenfabrik GmbH & Co KG in Malaysia. The project  ' the 'rm's 'rst signi'cant project in Malaysia since 2005  ' will be undertaken by its wholly owned Malaysian subsidiary, Yongnam Engineering Sdn Bhd. The project is expected to be completed in the third quarter of 2013.

Koon Holdings (S$0.205) 
Buys properties at Sixth Lok Yang Rd
Koon Holdings is buying two properties at Sixth Lok Yang Road for $8.8mil. The properties have a gross land area of 181,000 sq  ft  and a gross built'up area of 90,000 sq  ft. The group intends to house its corporate o'ce, support o'ce, and maintenance and storage facility for the construction and plant and equipment rental divisions, on the properties.
Source: The Business Times

Source: AmFraser