Singapore banks put to another major test on O&G exposure

Singapore

WITH oil trading giant Hin Leong making headlines amid the recent collapse of oil prices, the Singapore banks are set to take charges against their broader exposure to the oil-linked sectors but in a more measured way given more prudence today, analysts said.

The Business Times reported that the Singapore banks have a total exposure to Hin Leong at about US$600 million. In 2017, the local banking trio was also hit by their exposure to the oil-and-gas (O&G) sector with the protracted slump in oil prices.