15 Aug '16, 2am

Singapore's real-estate firms are facing record debt maturities #PropertyNews #RealEstate

Singapore's real-estate firms are facing record debt maturities, just as home sales post their longest-ever losing streak, straining the finances of builders less prepared to weather the storm. Singapore builders and trusts have an unprecedented S$1.8 billion of local currency bonds maturing this quarter, S$1.2 billion in the final quarter and another S$3.7 billion in 2017. Credit Suisse Private Banking said it doesn't recommend smaller builders due to "relatively high" leverage. JPMorgan Chase & Co said these companies are "most exposed" to a further property market correction given their weakening financial profiles. "Many bonds are un-rated and investors aren't adequately rewarded and have under-priced the risk," said Ben Sy, head of fixed income, currencies and commodities at the private banking arm of JP Morgan in Hong Kong. The finances of smaller builders are weaken...

Full article: http://www.srx.com.sg/singapore-property-news/22602/singa...

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