MAS puts more scrutiny on bank loans for property development

A spate of aggressive land deals by developers last year has prompted the Singapore central bank to take a closer look at the way banks are financing development projects.

The Business Times understands that the Monetary Authority of Singapore (MAS) is collecting more data from banks through a new survey sent out to them last month.

Some of the information sought by the MAS includes the size of banks’ exposures and details of the loan facilities granted for each project such as the key covenants and loan-to-value (LTV) ratios, sources say.

Analysts stick to ‘buy’ on CapitaLand

STOCK watchers were happy campers on last week’s news that CapitaLand is dropping 20 malls from its retail asset portfolio in China.

RHB Research Institute Singapore upgraded the stock to a “buy” call, from its previous “neutral” stance, in a note on Monday …