Singapore defaults seen as bellwether for Asia distress in 2017

(Dec 28): Singapore’s commodities-related defaults could turn out to be the canary in the mine.

Despite a modest rebound in resource prices, restructuring specialists including KPMG and Hogan Lovells Lee & Lee see more Asia-Pacific commodities and shipping companies being pushed into delinquency. Law firm DLA Piper said there could be choppy waters ahead on rising interest rates and President-elect Donald Trump’s overhaul of trade with China.

Regional non-bank borrowers face US$76.4 billion ($110.8 billion) of dollar bonds maturing in 2017, 24% more than this year, Bloomberg-compiled data show.

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