It is not fresh news that the oil and gas industry is in a slump due to a secular shift in oil prices. Firings and non-renewal is common.
The recent interesting development was Marco Polo Marine refusing to take delivery of a SembCorp Marine oil rig stating that there are defects. There is a stream of announcement from the 2 companies with SembCorp intend to earn the money and deliver without defects on time.
On the investment front, if you take a look at the Singapore corporate bond market, there are much juicy bonds yielding 10%.
I can envision some rich patrons of private banking being influenced to buy these bonds, and perhaps some would even buy it on leverage.
Bond Leveraging is similar to you paying a 20% down payment on a private property that you intend to rent out, and borrowing the other 80% at less than ......