\nAnalysts are predicting potential defaults on bond issuances<\/p>\n
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.
Analysts are predicting potential defaults on bond issuances Singapore saw five companies, including oil services...<\/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-39267","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-adl","jetpack-related-posts":[{"id":39169,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-defaults-a-bellwether-for-asia\/","url_meta":{"origin":39267,"position":0},"title":"Singapore defaults a bellwether for Asia","date":"December 29, 2016","format":false,"excerpt":"\r Analysts are predicting potential defaults on bond issuances by property developers. \u00a0 Singapore 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. Restructuring specialist KPMG expects the defaults to widen to include the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111401,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-singapore-homeowners-defaulting-on-mortgages\/","url_meta":{"origin":39267,"position":1},"title":"More Singapore homeowners defaulting on mortgages","date":"October 7, 2019","format":false,"excerpt":"\r For the first half of 2019, there were 213 cases of mortgagee sales, compared with 258 for the whole of 2018. The figures are more than double the 123 mortgagee sales registered in 2014. While new home launches are witnessing brisk demand in Singapore, the city-state is faced with\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":39267,"position":2},"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":126681,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sunac-china-holdings-defaults-on-us741-6-million-bond-snared-by-three-red-lines-policy-and-sputtering-home-sales-amid-covid-19-outbreaks\/","url_meta":{"origin":39267,"position":3},"title":"Sunac China Holdings defaults on US$741.6 million bond, snared by \u2018three red lines\u2019 policy and sputtering home sales amid Covid-19 outbreaks","date":"May 12, 2022","format":false,"excerpt":"\r The company failed to make an interest payment and expects to miss payments on three additional notes, as it struggles to contend with a dramatic drop in sales and China\u2019s \u201cthree red lines\u201d policy.\r \r Source : South China Morning Post\r Read more...Sunac China Holdings defaults on US1.6 million\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":39267,"position":4},"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":39267,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39267"}],"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=39267"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39267\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=39267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=39267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=39267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\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
\nMore: Singapore home sales down 31% in November
\nData compiled by Bloomberg shows that the Asia-Pacific region\u2019s energy-related firms, including coal miners and oil services companies, face USD12 billion of dollar bonds maturing in 2017, while real estate companies must repay USD8.7 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.
\nThis article originally appeared on PropertyGuru.com.sg on 29 December 2016
\nRead next: 6 key takeaways from Singapore\u2019s Real Estate Personality of the Year
\n
\nSource : property-report.com
\nRead more…Singapore defaults a bellwether for Asia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"