Time for highly leveraged consumers to take stock

Singapore

SINGAPORE'S highly leveraged consumers will have some soul-searching to do this Christmas, as business restructuring starts to bite.

By June next year, an estimated 40,000 Singaporeans who borrowed more than a year's income through unsecured loans for three straight months, will have their credit lines cut, until they reduce their debt. Most delinquent borrowers will also get the same treatment.