UOB has just marked down its O&G loans by 70-80%.

https://sg.finance.yahoo.com/news/uob-burdened-toxic-loans-o-044300079.html

This showed that our banks had been too optimistic about the recovery in the O&G industry in the past.

Let's see what DBS & OCBC will do.

We did warn about such optimism and the banks were not forthcoming with O&G loan exposures.

http://sg-stock.blogspot.sg/2017/08/singapore-banks-are-facing-strong.html