Sadly, for a number of Singapore’s individual bond investors, it has been less a case of Crazy Rich Asians’ in recent years, and rather more one of Crazy Poor Ones’.
Since the market started to come under pressure in late 2015, more than a dozen borrowers have defaulted, representing 2.6% of outstanding issuance.
While the percentage is not large, it is almost certainly of no comfort to the scores of retail and high net worth investors who got burnt after failing to take note unwittingly or otherwise that a...
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