Singapore banks have huge doubtful loans in the oil & gas industries because of under provisions. The banks have to increase the provisions significantly by as much as 2/3 which will affect their earnings in 2017.
https://www.bloomberg.com/gadfly/articles/2017-02-15/collateral-damage-in-singapore?cmpid=yhoo.headline&yptr=yahoo
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It will be hard to sell the vessels and rigs under bank possessions in this kind of economic environment and banks will have to sell at low prices which won't be enough to cover the loan losses. Therefore, bad loan provisions have to be increased to factor in this.
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