Singapore banks on watch over Chinese SOE exposure, say analysts
Heightened attention comes with DBS singled out in recent China SOE default at Huachen Automotive
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
SINGAPORE banks may move to review or even cut their exposure to Chinese state-owned enterprise (SOE) customers, as a recent wave of high-profile SOE bond defaults become a wake-up call for lenders counting on government bailouts, say analysts.
This comes as DBS is reportedly the largest foreign creditor to SOE Huachen Automotive Group, which defaulted on a one billion yuan (S$204.3 million) bond in October and has since entered bankruptcy restructuring.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
