The $37bn problem facing Asian oil and gas

Asia’s oil and gas companies have suffered defaults, delayed results and stock price plunges. But their problems are only just beginning.

The $37bn problem facing Asian oil and gas

Asia’s oil and gas companies are struggling.

Malaysia’s Perisai and Singapore’s Swiber have both defaulted on bond payments, but the problems are much more widespread. Bankers say discussions about covenant loosening or maturity extensions are happening across the sector.

This is despite the rebound in the price of oil. Brent oil now trades above $50 per barrel. That is a far cry from the $112 per barrel it was trading at in...

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