Graham Martin, head of restructuring at KPMG in Singapore, said he expects more defaults among oil services and shipping firms throughout Asia including countries like Malaysia and Thailand, with rising stress in Indonesia where coal miners face low prices.
“Singapore is a bellwether for the larger Asean and Asian region,” said Andy Ferris, Singapore-based partner at Hogan Lovells Lee & Lee. “Some of the fundamental problems those industries face won’t go away. Many of the companies in the commodities sector have high levels of debt and depressed revenues.”
https://www.bloomberg.com/news/arti...-seen-as-bellwether-for-asia-distress-in-2017
what the article didn't point out is the political hurdle s'pore facing between China and USA. It can't be that bad if oil prices are recovering and USA is doing extremely well currently, cos' spore tag US. Next year, whichever country play their cards politically right will stead them in turbo race mode. cos' next year, global economy will be driven by politics, beginning in Europe. btw, I am going to invest heavily in Philippines, i see it as the bright spot in Asia.
“Singapore is a bellwether for the larger Asean and Asian region,” said Andy Ferris, Singapore-based partner at Hogan Lovells Lee & Lee. “Some of the fundamental problems those industries face won’t go away. Many of the companies in the commodities sector have high levels of debt and depressed revenues.”
https://www.bloomberg.com/news/arti...-seen-as-bellwether-for-asia-distress-in-2017
what the article didn't point out is the political hurdle s'pore facing between China and USA. It can't be that bad if oil prices are recovering and USA is doing extremely well currently, cos' spore tag US. Next year, whichever country play their cards politically right will stead them in turbo race mode. cos' next year, global economy will be driven by politics, beginning in Europe. btw, I am going to invest heavily in Philippines, i see it as the bright spot in Asia.
