Vice President Vincent C. Siew on the morning of August 13 at the Presidential Building met with DBS Group Chairman Mr. Koh Boon Hwee and Chief Executive Officer Richard D. Stanley. The vice president, on behalf of the government and people of the ROC, extended a warm welcome to the guests.
Vice President Siew first expressed that since President Ma Ying-jeou is on a state journey overseas, he is unable to meet with the guests personally. However, before he left Taiwan, President Ma specially asked the vice president to extend his best regards to the visitors.
Vice President Siew noted that DBS Group is a rapidly growing financial group in the Asian region. He said that the performance of the group has won the attention of the international financial sector. DBS, he said, pays close attention to Taiwan's banking environment. Recently, DBS made a substantial investment on Taiwan by acquiring Bowa Bank. This is a positive development with regards to the internationalization of Taiwan's banking industry, he said.
The vice president said he hopes to take advantage of this rare opportunity to listen to the suggestions that DBS has for Taiwan's new government in terms of banking policies. He also said he would also like to learn their opinions on the state of the international banking industry and in particular the state of development in Southeast Asia and Singapore. Vice President Siew introduced to the guests Financial Supervisory Commission Vice Chairwoman Lee Jih-chu, who sat in on the meeting. In addition to previously serving as a legislator, Vice Chairwoman Lee also has exceptional experience in the banking industry, he said.
DBS Group Chairman Koh thanked Vice President Siew for taking time out of his busy schedule to meet with him. He noted that DBS was founded in 1968 and is Singapore's largest commercial bank. DBS has a presence in Hong Kong and Mainland China, and it is extremely pleased to have an opportunity to participate in Taiwan's banking industry.
Vice President Siew commended DBS Bank's decision to secure a larger presence in Taiwan's banking sector, saying that its move will benefit both sides and is good news for Taiwan. In addition, he said that Taiwan should learn from Singapore's high quality human resources. The vice president said the government here should cultivate even more internationally minded manpower, which would boost Taiwan's international competitiveness.
DBS Group Chairman Koh and Chief Executive Office Stanley were accompanied to the Presidential Building in the afternoon to meet the vice president by Singapore Trade Representative Mr. Stanley Loh and Financial Supervisory Commission Vice Chairwoman Lee Jih-chu.