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Spotlight thrown on highly leveraged borrowers

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It has prompted CCS to offer a centralised repayment system to borrowers with debts owed to several banks from next year, which is supported by leading retail banks in Singapore.


A BORROWER mired in debt here would have taken up nearly S$80,000 in loans - or some 28 months of his salary - from seven creditors. He would probably stand hunched among the 3 per cent of unsecured-credit borrowers that the Monetary Authority of Singapore (MAS) estimates to