20 Mar '17, 5am

Default Fears Resurface Over Singapore's Looming Debt Wall

Default fears are resurfacing in Singapore ahead of a wall of maturing corporate debt, as a U.S. bankruptcy filing of a firm from the city flags lingering pain despite economic recovery. Pressure to pay down obligations has been unrelenting. Companies excluding banks in Singapore must repay S$38 billion ($27 billion) of local bonds through the end of 2020, after about the same amount fell due in the four years through 2016, according to data compiled by Bloomberg. Six firms have defaulted on S$1.2 billion worth of notes since November 2015. The most important market news of the day. Get our markets daily newsletter. Sign Up For some of Singapore’s small debt-laden companies, a rebound in manufacturing and exports hasn’t been enough to bolster bottom lines sufficiently. In the latest sign of strains, Ezra Holdings Ltd., which provides engineering services to the offshore oi...

Full article: https://www.bloomberg.com/news/articles/2017-03-20/singap...

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bloomberg.com 20 Mar '17, 5am

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todayonline.com 20 Mar '17, 3am

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Singapore's Ezra Holdings files for US bankruptcy

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cnbc.com 19 Mar '17, 11pm

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