(January 11 10:54) Sbr.com.sg
Submitted By:
Sandra Sendingan
Case Study:
No
The indebted crude oil supplier owes the three Singapore banks a combined US$172.1m.
The liquidation process undertaken by crude oil supplier Coastal Oil Singapore is unlikely to result in the previous oil and gas (O&G) downturn that pushed up the banking sector’s bad debt and credit costs although lenders are likely to take a one-off hit, according to CIMB.
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