26 Apr '17, 9pm

The big three Singapore banks could use a bit of Hong Kong property mania

Stable oil prices are fine, and a recovery in the Baltic Dry Index can't hurt. But seriously, how long can Singapore's banks remain hostages of the island's shipping and offshore marine services industry? This Ship Must Sail Oil prices and dry-bulk shipping rates have had an outsize influence on Singapore banks' shares for nearly two years Source: Bloomberg That question is bound to be asked as another earnings season comes burdened with a high-profile bankruptcy. Ezra Holdings Ltd., the Singapore-listed offshore services group that sought protection from creditors in the U.S. last month, counts DBS Group Holdings Ltd. and Oversea-Chinese Banking Corp. among its biggest unsecured creditors. United Overseas Bank Ltd., the third of the city's three homegrown lenders, is on the hook too. The trio's claims total $642 million, most of which is unsecured. Providing for losses on...

Full article: https://www.bloomberg.com/gadfly/articles/2017-04-26/sing...

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