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UBS well positioned for more mkt difficulties: Ospel

ZURICH
Mon Dec 10, 2007 3:21am EST

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ZURICH (Reuters) - Swiss bank UBS (UBSN.VX) is well positioned to cope with further market difficulties after it recapitalized the bank with an injection of capital from a Singaporean government entity and a Middle East investor, UBS chairman said.

Marcel Ospel made the comment during a media conference call.

UBS earlier unveiled $10 billion in shock subprime writedowns on Monday and said it had obtained an emergency capital injection from a Singapore government entity -- The Government of Singapore Investment Corporation -- and an unnamed Middle East investor.


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