Is All Well In Singapore? Bankruptcy Level Highest Since ’09

Concerns over Singapore’s rising household debt levels may increase after data showed bankruptcy orders have risen to the highest level since 2009, but it isn’t clear whether it signals trouble ahead.

Bankruptcy orders rose nearly 14 percent on year in 2013, and although the actual number was relatively low at 1,992, that is the highest number since 2009, the middle of the global financial crisis.

“We’re seeing perhaps rising costs coming from rentals and labor costs having some impact on some businesses in a very competitive landscape,” said Song Seng Wun, an economist at CIMB. “It is inevitable that some businesses and individuals who may have overstretched themselves would struggle.”


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu