Singapore banks are facing strong headwinds in Oil & Gas sector.

http://www.businesstimes.com.sg/companies-markets/singapore-bank-stocks-battered-by-more-om-bad-news?xtor=EREC-16-1[BT_Newsletter_1]-20170816-[Singapore+bank+stocks+battered+by+more+O%26M+bad+news]&xts=538380

We did state in our previous postings that banks were not forthcoming in their oil & gas loan exposures.

http://sg-stock.blogspot.sg/2017/08/watch-out-for-dbss-2nd-half-earnings.html

They should be more transparent about their loan exposures but they didn't.  This showed that shareholders' accountability is not at the top of their minds and the management just wanted to be hush about the banks' poor performances.