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'Inevitable cascade' of O&G defaults seen

Oil-related firms face S$1.4b of S'pore dollar bonds maturing through 2018, with sustained weakness in crude raising risks

39254918.1 (39255366) - 29_07_2016 - SINGAPORE-BANKS_SWIBER HOLDINGS.jpg
Singapore bondholders and lenders, already stung by Swiber Holdings Ltd's woes, face mounting pain as a drop in oil leaves more companies in the industry starved for cash.

Singapore

SINGAPORE bondholders and lenders, already stung by Swiber Holdings Ltd's woes, face mounting pain as a drop in oil leaves more companies in the industry starved for cash.

Investment bank UOB Kay Hian warned last week that the sector may suffer a "cascade" of defaults.