Singapore Banks Hurt as Swiber Drags on Energy Services: Chart

Singapore’s three largest banks are feeling the heat from loans to energy-services companies hurt by slumping oil prices. One of those businesses, Swiber Holdings Ltd., helped drag the SGX Oil & Gas Index to new lows after it filed for liquidation last week. DBS Group Holdings Ltd. subsequently revealed a S$700-million ($522-million) exposure to Swiber and its units. Bad loans from offshore marine-services companies will increase as more borrowers face cash flow strains and approach the banks for loan restructuring, Moody’s Investors Service said in a report this week.

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