Singapore Syndicated Lending Surges 91% to Record $38 Billion
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Syndicated lending in Singapore has almost doubled to a record this year, driven by demand from property developers and a surge in commodity trading.
Loans surged 91 percent to $38.3 billion this year from the same period of 2010, beating the previous record of $30.7 billion in all of 2008, according to data compiled by Bloomberg. The total doesn’t include a S$5 billion ($3.9 billion) loan sought by Temasek Holdings Pte and Khazanah Nasional Bhd., the state-owned investment companies of Singapore and Malaysia, to fund S$11 billion of hotels, apartments, offices and shops.