Is the 1989 hit for British R&B group Soul 2 Soul.
Well according to Bloomberg, defaults from Singapore's oil and gas sectors are going to come back to life in a big way in 2017.
Bloomberg has the story. Read Below :
Singapore’s commodities-related defaults could turn out to be the canary in the mine.
Despite a modest rebound in resource prices, restructuring specialists including KPMG and Hogan Lovells Lee & Lee see more Asia-Pacific commodities and shipping companies being pushed into delinquency. Law firm DLA Piper said there could be choppy waters ahead on rising interest rates and President-elect Donald Trump’s overhaul of trade with China.
Regional non-bank borrowers face US$76.4bil of dollar bonds maturing in 2017, 24% more than this year, Bloomberg-compiled data show.
While oil prices have jumped 17% since Trump was elected, they are about half what they were in 2014. Resource prices as a whole are down 64% from their peak before the 2008 global financial crisis, the Bloomberg Commodity Index shows.
Singapore, whose economy relies on shipping and oil service firms, was exposed first because the companies were smaller and less able to tap government support.
“Singapore is a bellwether for the larger Asean and Asian region,” said Andy Ferris, Singapore-based partner at Hogan Lovells Lee & Lee. “
