DBS and Singapore Airlines enter new rewards program

* * *

KrisFlyer Programme allows DBS cardholders a faster way to earn their ideal holidays

SINGAPORE, June 5, 2003 - DBS Bank and Singapore Airlines launched today the DBS-Singapore Airlines KrisFlyer Partnership. This partnership is significant as it brings two of Singapore's biggest brands together to benefit their common customer base.

Under this arrangement, DBS credit card holders who are members of Singapore Airlines' KrisFlyer frequent flyer programme will be able to convert their DBS perk$ to KrisFlyer miles and enjoy free flights to exciting destinations.

Announcing the new partnership, Mr Huang Cheng Eng, Singapore Airlines Executive Vice President Marketing and the Regions, said: "We are always looking for ways to add value for our KrisFlyer members.

"With this new partnership, our KrisFlyer members who hold DBS credit cards will be able to earn miles from something as simple as buying groceries or filling the car with petrol."

Mr Edmund Koh, DBS' Managing Director and Head, Consumer Banking Group Singapore, said: "The DBS Rewards is our way of saying thanks to our customers who have remained loyal to us over the years. Over the past couple of years, we have seen both our card base and card usage increase 45 percent and 16 percent respectively. This, we believe, is our customers' way of telling us that our DBS cards are indeed meeting and fulfilling their lifestyle needs.

"This partnership with Singapore Airlines is an excellent reward for our customers who deserve exclusive airline privileges that the KrisFlyer frequent flyer programme offers to our credit card holders."

The DBS-Singapore Airlines partnership is part of a regional rewards programme. For a start, more than 500,000 cardholders in Singapore will benefit from this new tie-up with Singapore Airlines. Towards the end of this year, the same privileges will also be extended to DBS' Hong Kong cardholders. There are currently more than 900,000 cardholders in Hong Kong.

Chance To Win A Million Krisflyer Miles

To launch the partnership, DBS cardholders who link their KrisFlyer membership account to their DBS Credit Card will stand to win one million KrisFlyer miles, the equivalent of six First Class return tickets to Europe. Until 31 December 2003, they will be awarded 10 chances in the draw when they link their membership, and another 10 chances every time they convert perk$ into KrisFlyer miles.

With the addition of DBS Bank, KrisFlyer now boasts 74 global partners, ranging from airlines, hotels and a travel agency to credit cards, an insurance company and a telecommunications provider.

* * *

DBS Corporate Profile

DBS Group Holdings Ltd is the holding company of DBS Bank and is one of the largest companies in terms of market capitalisation whose shares are listed on the Singapore Exchange. DBS Group Holdings Ltd and its subsidiaries form one of the largest banking groups in the region in terms of shareholders' funds and total assets as at December 31, 2002, being approximately S$14.5 billion (US$8.3 billion) and approximately S$149.4 billion (US$86.0 billion). With its acquisition of Dao Heng Bank in June 2001, DBS is the fourth largest bank in Hong Kong by assets.

DBS Bank is a full service bank, having diversified since its establishment in 1968 as a development financing institution. DBS Bank has more than 100 branches in Singapore; a banking presence in Thailand, Hong Kong, Indonesia and the Philippines through subsidiaries and associated companies. It also has branches and offices in the United States, United Kingdom, Japan, Hong Kong, India, Malaysia, Myanmar, China, Taiwan, Korea and Thailand.

With the acquisition of the business undertakings of POSBank in 1998, DBS Bank has dominant market shares with access to over 4 million customers. DBS Bank has also established itself as a leader in initial public offerings and regional equity transactions in the Singapore capital market. It is also the top-rated custodian for institutional investors and global custodians, and has built a regional franchise in many Asian markets. A key player in the Singapore money market and a leader in domestic treasury services, DBS Bank is a leader in corporate lending and project finance as well.

DBS Bank provides a full range of financial services aimed at fulfilling the total banking and financial needs of individuals and their businesses. Active in corporate, retail and investment banking, DBS Bank is one of Singapore's main sources of medium and long-term financing, and is actively engaged in providing short-term banking facilities, including trade financing and working capital financing. It also provides investment banking services, portfolio management services and custodian services.

The acquisition of 60 percent of Vickers Ballas in September 2001 gives DBS a leading presence in the stock broking business, not only in Singapore but regionally. In addition, alliances with global financial services companies including the world's largest investment consultants Frank Russell Company, TD Waterhouse, one of the world's leading online and self-directed brokerage companies, and a bancassurance partnership with Aviva, the largest insurer in the U.K. with more than 15 million customers, have further enhanced the Bank's wealth management suite of offerings.

* * *

Backgrounder 2J


With KrisFlyer, SIA's award-winning frequent flyer programme, customers can redeem miles for free flights with 20 world-class airlines to over 800 destinations. They can also obtain upgrades to First or Raffles Class on SIA and Business Class on SIA's regional carrier, SilkAir, and companion tickets on both airlines. Customers earn 150% of actual miles flown on First Class, 125% of actual miles flown on Business Class and 100% of actual miles flown on Economy Class, on qualifying fares with SIA, SilkAir, Star Alliance partners and other KrisFlyer airline partners.

KrisFlyer members enjoy one of the lowest redemption levels in the industry, as international round-trip awards start from just 15,000 KrisFlyer miles.

More miles can be accrued when the KrisFlyer member transacts with KrisFlyer partners such as hotels, credit/ charge card companies, car rental agencies, KrisShop, a telecommunications service provider, an insurance company and a travel agency.

Latest Promotions

§  From now till 30 June 2003, the KrisFlyer companion offer allows members worldwide to purchase a First or Business Class ticket and take a companion with them for 50% of the usual miles required. For instance, members can save 45,000 miles on a return Raffles Class trip from Singapore to London that's enough to redeem 3 Economy Saver return tickets from Singapore to Bali

§  Also in the month of June 2003, round-trip redemptions made online enjoy a 25% discount. That's a saving of 15,000 miles on a trip to Europe enough for a round trip award ticket from Singapore to Malaysia or Indonesia. The promotion will continue into the month of July, when a discount of 15% will apply.

There are several tiers in the KrisFlyer programme. Qualification depends on frequency and class of travel. The tiers are:

§  KrisFlyer Elite Silver and KrisFlyer Elite Gold for frequent travellers in any class on SIA, SilkAir, Virgin Atlantic or any Star Alliance carrier

§  PPS Club and Solitaire PPS Club for frequent travellers in First and Business Class on SIA and SilkAir

§  Young Explorer Club for young travellers aged 12 or under


§  KrisFlyer's 20 airline partners include Star Alliance members: Air Canada, Air New Zealand, All Nippon Airways, Asiana Airlines, the Austrian Airlines Group (Austrian Airlines, Lauda Air, Tyrolean Airways), British Midland, Lufthansa, Mexicana, Scandinavian Airlines, Singapore Airlines, Spanair, Thai Airways International, United Airlines, and Varig.

§  Other airline partners include Delta Air Lines, Emirates, SilkAir, and Virgin Atlantic.

§  Customers also earn miles when they make use of the services of any of 54 reputable non-air partners.
At, members can:

§  Redeem miles for Singapore Airlines return flights. It's quick and saves time on the phone

§  Check out new membership promotions and events and enjoy exclusive offers

§  Check the number of miles required to redeem a Singapore Airlines award, or a Star Alliance award, which enables members to redeem a seamless itinerary consisting of multiple flights on Star Alliance carriers, including Singapore Airlines

§  Subscribe to KrisFlyer online newsletters and statements, the quick and convenient way to receive KrisFlyer communications

§  View account summary and account statement online to check their latest transactions

§  Use the accrual and redemption calculators to work out how many miles a flight earns, or how many miles it will take to redeem

§  Submit retroactive claims for Singapore Airlines flights with the click of a mouse

Issued by Public Affairs Department
Singapore Airlines Ltd

Back to News List

Search News

Select Country

DBS Annual Report

DBS Annual Report 2018

Click here to read DBS' 2018 Annual Report - Best Bank in the World.

View our previous Annual Reports