{"id":39169,"date":"2016-12-29T10:37:55","date_gmt":"2016-12-29T03:37:55","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-defaults-a-bellwether-for-asia\/"},"modified":"2016-12-29T11:46:54","modified_gmt":"2016-12-29T04:46:54","slug":"singapore-defaults-a-bellwether-for-asia","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-defaults-a-bellwether-for-asia\/","title":{"rendered":"Singapore defaults a bellwether for Asia"},"content":{"rendered":"


\nAnalysts are predicting potential defaults on bond issuances by property developers.
\n\u00a0
\nSingapore saw five companies, including oil services firms Swiber Holdings and Swissco Holdings, default on nearly S$1 billion of bonds this year, revealed a Bloomberg report.
\nRestructuring specialist KPMG expects the defaults to widen to include the city-state\u2019s property developers, after housing prices fell the most in over seven years during the third quarter of 2016.
\nThe commodities-related defaults in Singapore may prove to be the canary in the coal mine.
\n\u201cSingapore is a bellwether for the larger Asean and Asian region,\u201d said Andy Ferris, Singapore-based partner at Hogan Lovells Lee & Lee. \u201cSome of the fundamental problems those industries face won\u2019t go away. Many of the companies in the commodities sector have high levels of debt and depressed revenues.\u201d
\nData compiled by Bloomberg shows that the Asia-Pacific region\u2019s energy-related firms, including coal miners and oil services companies, face US$12 billion of dollar bonds maturing in 2017, while real estate companies must repay US$8.7 billion.
\nOil producer MIE Holding\u2019s dollar notes maturing 2018 traded at 83.3 cents on the dollar on Monday (26 December), while commodities trader Noble Group\u2019s dollar bonds due 2020 traded at 84.2 cents.
\nGraham Martin, Head of Restructuring at KPMG Singapore, expects more defaults among shipping and oil services firms throughout the Asian region, including countries such as Thailand, Malaysia and Indonesia.
\n\u201cWe think Indonesia will be one of the top markets for restructuring work in 2017,\u201d said Martin.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore defaults a bellwether for Asia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts are predicting potential defaults on bond issuances by property developers. \u00a0 Singapore saw five...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-39169","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-abL","jetpack-related-posts":[{"id":39267,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-defaults-a-bellwether-for-asia-2\/","url_meta":{"origin":39169,"position":0},"title":"Singapore defaults a bellwether for Asia","date":"December 30, 2016","format":false,"excerpt":"\r Analysts are predicting potential defaults on bond issuances Singapore saw five companies, including oil services firms Swiber Holdings and Swissco Holdings, default on nearly SGD1 billion of bonds this year, revealed a Bloomberg report. Restructuring specialist KPMG expects the defaults to widen to include the city-state\u2019s property developers, after\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":124517,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/investors-shun-chinese-developers-as-bond-sales-slump-70-per-cent-with-market-frozen-for-many-junk-rated-borrowers-amid-defaults\/","url_meta":{"origin":39169,"position":1},"title":"Investors shun Chinese developers as bond sales slump 70 per cent with market frozen for many junk-rated borrowers amid defaults","date":"February 9, 2022","format":false,"excerpt":"\r Investors seem to have lost their appetite for bonds issued by Chinese developers while rising defaults by an increasing number of cash-strapped companies have pushed the cost of funding for the sector to more than a decade high.Chinese real estate companies issued 48.1 billion yuan (US$7.6 billion) worth of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":130718,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cifi-defaults-on-bond-triggering-sell-off-of-developers-fears-chinese-property-debt-crisis-is-spreading\/","url_meta":{"origin":39169,"position":2},"title":"Cifi defaults on bond, triggering sell-off of developers, fears Chinese property debt crisis is spreading","date":"October 13, 2022","format":false,"excerpt":"\r Cifi Holdings\u2019 first offshore bond default sparks fears that the debt crisis gripping China\u2019s property sector is spreading to developers previously deemed financially sound.\r \r Source : South China Morning Post\r Read more...Cifi defaults on bond, triggering sell-off of developers, fears Chinese property debt crisis is spreading","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":156714,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/smaller-hong-kong-developers-face-defaults-amid-mounting-debts-analysts\/","url_meta":{"origin":39169,"position":3},"title":"Smaller Hong Kong developers face defaults amid mounting debts: analysts","date":"July 1, 2025","format":false,"excerpt":"\r Hong Kong developer Emperor International Holdings\u2019 inability to repay HK$16.6 billion (US$2.1 billion) in loans highlights a growing debt crisis among small and medium-sized developers in the city, prompting analysts to warn of more defaults. \u201cHigh debt ratios have become a mainstream condition among Hong Kong developers, particularly mid-sized\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137954,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-more-china-property-developers-fail-to-meet-bond-repayment-obligations-seek-advise-on-resolving-defaults\/","url_meta":{"origin":39169,"position":4},"title":"Two more China property developers fail to meet bond repayment obligations, seek advise on resolving defaults","date":"June 26, 2023","format":false,"excerpt":"\r Central China Real Estate and Leading Holdings Group became the latest to default on their debt repayments as China\u2019s property sector\u2019s litany of woes continues with Beijing disappointing expectations of large-scale stimulus support.\r \r Source : South China Morning Post\r Read more...Two more China property developers fail to meet\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82470,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sg-developers-burdened-by-higher-debt\/","url_meta":{"origin":39169,"position":5},"title":"SG developers burdened by higher debt","date":"March 12, 2018","format":false,"excerpt":"\r Debt of major developers increased significantly in six Asian markets, including Singapore, from 2006 to 2016, according to a report from the Bank for International Settlements. Based on sample data, debt as a percentage of gross domestic product (GDP) of local developers in the city-state rose from about six\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39169"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=39169"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39169\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=39169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=39169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=39169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}