Brokers' take

Singapore banks | Negative Maybank Kim Eng, Jan 11

Recent events have shifted focus for Singapore banks from growth and net interest margins to credit spreads and asset quality. Collapsed commodity prices, possible bankruptcy filings by Sete Brasil and wider credit spreads are bringing credit concerns to the fore. Noble Group's credit rating cut by Moody's and S&P to below investment grade is an example. Such developments pose price and default risks to the asset portfolio. Asset quality concerns to the commodities and oil & gas sector remain an overhang. We maintain "negative" on the sector.

Olam International | Sell Jan 11 close: S$1.70 Target price: S$1.56 UOB Kay Hian, Jan 11