Malaysian billionaire Ananda Krishnan set to settle 1MDB loan ahead of deadline
Malaysian billionaire Ananda Krishnan is preparing to settle a RM2 billion (S$750,900) loan owed by troubled state fund 1MDB, four sources familiar with the matter said – a last-minute reprieve for the fund whose debt woes are pressuring the ringgit and the country’s sovereign credit rating. The development fund, which owns a large portfolio of […]
What to do about home loan as interest rates rise?
Home owners were caught by surprise last week when a key interest rate benchmark suddenly shot up after years of slumber. It was a reality check for many and a sign of things to come as the era of cheap money begins to draw to a close. Not that we are at sky-high rates yet […]
Credit Suisse sues REI Agro in Singapore over alleged loan fraud
Credit Suisse Group sued REI Agro Ltd. in Singapore claiming the Indian basmati rice producer and 16 related companies conspired to get loans for non-existent trades of the staple. REI Agro founders Sandip and Sanjay Jhunjhunwala used a web of sham rice-trading companies in Singapore and Hong Kong to support a 2012 US$115.5 million (S$154.50 […]
Singapore LNG gets S$1.11b term loan
To refinance some of the government loans used to fund the development and construction of the initial phases of the liquefied natural gas (LNG) terminal located on Jurong Island, Singapore LNG (SLNG) announced on Thursday that it has secured a S$1.11 billion term loan facility. The lenders are Citibank, DBS, Mizuho, Oversea-Chinese Banking Corp and Bank […]
Non-performing mortgage loan risks to persist in banks
NON-performing mortgage loan risks will persist for Singapore banks this year, albeit with a shift from defaults by foreigners on luxury homes to those by locals on suburban homes. Banks remain safe, nevertheless. Maybank Kim Eng analyst Ng Wee Siang, in a report this week, said that high-end apartment prices may have fallen sharply, but […]