With the marine and offshore industry struggling in Singapore, the government is looking into measures that can be taken in order to mitigate the effects of the slump. In addition to the currently available SME Working Capital Business Loan, the government is developing other ways of helping the ailing industry. Will the industry be able to recover or will we see another Swiber Holdings in the making?
Amidst the slowing economy, one of the worse hits so far has been because of the slowing global trade and commodities market. This could mean high default rates for Singapore companies that have their corporate bonds due soon. With an increasing number of bond issuers attempting to refinance, the default rate is likely to go up. With non-performing business loans at rising for Singapore’s three biggest banks, trouble does seem to be lurking in the horizon.