Credit quality falls for some big S'pore firms
S&P report cites aggregate doubling in debt since end-2008
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THE credit quality of some of Singapore's largest companies has become poorer compared with more than five years ago as their aggregate debt doubled while revenue growth declined.
Low interest rates in Singapore have seen net debt among a group of Singapore's largest companies nearly doubled between the year-end of 2008 and the first quarter of 2014, a new report by Standard & Poors (S&P) revealed.
The inaugural Asean Top 100 Companies survey showed that the debt growth among the cluster of Singapore companies in the report was the second most rapid over the period - below only that of the Philippines, where net debt nearly trebled, and faster than the 170 per cent growth in Indonesia and the 150 per cent growth in Malaysia.
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