SINGAPORE: Singapore banks have “insignificant” loan exposures to debt-laden Chinese property giant Evergrande, said senior minister Tharman Shanmugaratnam on Monday .
Exposures to Singapore property developers with operations in China are a further 2.5 per cent of loans to non-bank customers, Mr Tharman added. This includes all loans made to these developers, not just loans related to their Chinese operations. Fears of a broader fallout on China’s property sector and beyond have also unnerved global financial markets.In his written response, Mr Tharman also touched on the exposure of Singapore’s property developers to China.
Source: Financial Digest (financialdigest.net)
Three hundred billion dollars of debt
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