Rounding up top investing articles from around the web, including articles shared in our Reddit Community: r/SingaporeInvestments.
While the troubles at Evergrande, with more than US$300 billion of liabilities, happened in China, all three Singapore lenders — DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. — have operations on the mainland and in Hong Kong.
Hong Kong’s central bank and the U.S. Federal Reserve have also asked lenders to report their financial commitments to Evergrande, China’s largest issuer of high-yield, dollar-denominated bonds. The developer missed interest payments due last week to at least two of its largest bank creditors, people familiar with the matter have said.
DBS, Singapore’s biggest lender, has no exposure to Evergrande and doesn’t see the crisis as a systemic risk to the region’s banking industry, Chief Executive Officer Piyush Gupta said in a Bloomberg Television interview on Monday.