29 Jul '16, 6am

The first domino falls: We just heard news of Swiber sudden winding down. DBS is one of the main banks that loans…

The first domino falls: We just heard news of Swiber sudden winding down. DBS is one of the main banks that loans…

We just heard news of Swiber sudden winding down. DBS is one of the main banks that loans money to Swiber, so their exposure is about 700 million. That’s not a lot of loans, relatively speaking. 700 million is about 0.25% of their total outstanding loans in 2015 and it’s about 15% of their total 2015 net profit. But they are confident of getting half of it back and after tapping onto their general provision, they are net loss of about 150 million. How much is that? It’s about 3.3% of their 2015 net profit.

Full article: http://thefinance.sg/2016/07/29/the-first-domino-falls/

Tweets

Swiber Holdings Winding Down – Uncertainty is N...

investmentmoats.com 28 Jul '16, 12am

Imagine that your Private Banker introducing you to purchase a 4 year corporate bond with a yield of 7.1% in 2013 Then bec...

Bitcoin Picks Up in Malaysia as Ringgit Falls - newsBTC

Bitcoin Picks Up in Malaysia as Ringgit Falls -...

newsbtc.com 28 Jul '16, 6pm

The deteriorating global economic situation comes as a blessing to the popular digital currency Bitcoin. The activity in t...

WRAPUP 2-Singapore bank concerns grow on oil and gas sector as DBS reports Swiber exposure

WRAPUP 2-Singapore bank concerns grow on oil an...

reuters.com 29 Jul '16, 3am

* DBS discloses S$700 million exposure to Swiber * Singapore oilfield services firm Swiber says to liquidate * OCBC Q2 net...

Singapore Banks Facing Earnings Stumble as Bad Loans, Sibor Bite - Bloomberg

Singapore Banks Facing Earnings Stumble as Bad ...

bloomberg.com 25 Jul '16, 10pm

Earnings reports due soon from Singapore’s largest banks may show their second-quarter profits were crimped by higher buff...

WRAPUP 1-Singapore banks' concerns grow about o...

reuters.com 28 Jul '16, 8am

* OCBC Q2 net profit S$885 mln vs consensus of S$882 mln * UOB Q2 net profit S$801 mln vs consensus of S$769 mln * Both re...

Nike LeBron Witness // First Look

nicekicks.com 28 Jul '16, 4pm

Just a day after news that Nike would be lowering the price of the forthcoming Nike LeBron 14 , more from James’ extensive...