Singapore bank lending down in February
Total bank lending in Singapore fell a little in February, with business loans continuing their slide for a third straight month. The overall sum lent to both consumers and businesses for the month was $603.5 billion, according to data released by the Monetary Authority of Singapore (MAS) yesterday. This is a 0.65 per cent drop […]
Genting Singapore’s RWS to borrow $2.27 billion
Genting Singapore’s Resorts World Sentosa plans to raise $2.27 billion of bank loans, Bloomberg reported, citing sources familiar with the deal. The five-year syndicated deal will be split into a S$1.75 billion amortising term loan, a $500 million revolving facility, and a $20 million bank guarantee facility. Bank of Tokyo-Mitsubishi UFJ, DBS Bank, HSBC Bank, […]
Singapore bank lending falls, credit card debt up in December
Bank lending in Singapore fell in December from November in a sign that economic activity could be slowing down. Total loans and advances fell to S$607.96 billion at the end of December from S$608.17 billion at the end of November, according to the Monetary Authority of Singapore’s (MAS) latest monthly statistical bulletin. Banks lent more […]
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 […]
