Bank DBS Indonesia embarked on a journey of exploration and celebration of the Year of the Wood Dragon that is filled with happiness and prosperity through the "Bank DBS Indonesia Spring Festival 2024: Wood Dragon Wonders" held in Jakarta. During the event, experts shared the latest insights into the financial, business, and investment outlook for the Indonesian market as well as Feng Shui analysis for the Year of the Wood Dragon. The event was attended by PT Bank DBS Indonesia President Director Lim Chu Chong, PT Bank DBS Indonesia Head of Institutional Banking Group Kunardy Lie, PT Bank DBS Indonesia Head of Consumer Banking Melfrida Gultom, and Feng Shui consultant Angelina Fang from Feng Shui Consulting Indonesia. The annual event was also held in Medan, Bandung, Surabaya and Semarang on February 16-22, 2024 for DBS Treasures and DBS Treasures Private Client customers as part of the curated wealth management strategy.

The Chinese New Year momentum was overshadowed by multiple conditions that have affected market dynamics such as geopolitical conflicts, movements in inflation, and central bank rates. In Indonesia, the market is fundamentally strong post-election. Taking into account the current situation, Bank DBS Indonesia endeavoured to unravel market complexities and proactively communicate insights, including through the annual Spring Festival. The event was targeted at affluent and high-net-worth individuals (HNWI) in priority banking (DBS Treasures) and private banking (DBS Treasures Private Client). The personalised solutions and timely support are expected to help customers seize opportunities anytime and anywhere.

President Director of PT Bank DBS Indonesia Lim Chu Chong stated, "It is an invaluable opportunity for us to strengthen the bond between Bank DBS Indonesia and its customers. We understand our customers' need for a reliable partner to navigate market developments and make informed financial decisions. Therefore, Bank DBS Indonesia is continuously exploring relevant investment strategies and navigating the financial landscape to support customers in their journey to prosperity. All these efforts are aimed at enabling our customers to 'Live more, Bank less'."

Bank DBS Indonesia invited Feng Shui Expert Angelina Fang from Feng Shui Consulting Indonesia to the event to take a deep dive into Feng Shui’s principles of harmony and balance. According to Angelina Fang, the Year of the Wood Dragon is a year associated with stubbornness, sensitivity, courage, and curiosity. Although this year presents the potential for fierce competition, entrepreneurs and industry players are expected to achieve new records and remarkable growth. Therefore, a more flexible and friendly attitude is crucial to achieve this ambitious progress. Angelina Fang also drew attention to a number of businesses that have great potential, such as metal-element industries like manufacturing, commodities, telecommunications, automotive, fintech, and beauty.

Earlier, DBS Chief Investment Officer and DBS Group shared projections of the growth of the technology, non-essential, and luxury industries that are expected to strengthen portfolios. This runs parallel with the growing activities closely related to infrastructure development and digitalisation. Moreover, inflation in Indonesia is currently considered under control and will remain stable throughout 2024, at 2.8%.

Aware that each customer has a unique profile and financial aspirations, Bank DBS Indonesia shares insights and investment portfolio recommendations through various channels, including the digibank by DBS application. Customers can access more than 100 types of bonds and around 68 mutual fund products, including Environmental, Social, and Governance (ESG)-rated products. Bank DBS Indonesia also collaborates with multiple asset management partners to continue to educate customers who want to invest while applying the ESG principles.

For more information about:

DBS Treasures priority banking, visit this page
DBS Treasures Private Client private banking, visit this page
CIO Insights Q1 2024, visit this page

About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 15 consecutive years from 2009 to 2023.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

Bank DBS Indonesia analyses financial outlook for the Year of the Wood Dragon at Spring Festival 2024