Singapore Banking System: Outlook in the Year of the Rabbit Feb 99

Standard & Poors, February 1999

Abstract
Standard & Poor's anticipates that fiscal 1999, which in the Chinese zodiac is depicted by the year of the docile rabbit, will not be a placid year for the Singapore banking system. Beleaguered by an expected weak 1998 financial performance, Singapore banks will find fiscal 1999 to be a challenging year as they attempt to manage not only the negative impacts from the regional crisis, but also germinating foreign competition arising from a liberalized banking sector. Nevertheless, the business fundamentals of the domestic Singapore banks are sound, and it is expected that they will gradually recover early next century. Mitigating the unstable short-term outlook is the consideration that the liberalization measures are likely to be implemented in the medium term....

Companies mentioned in this report are:
- The Hongkong and Shanghai Banking Corp. Ltd.
- Hong Kong (Special Administrative Region)
- Malaysia
- Thailand (Kingdom of)
- Singapore (Republic of) (Unsolicited Ratings)
- DBS Bank Ltd.
- China (People's Republic of )
- Indonesia (Republic of)
- Philippines (Republic of the)
- United Overseas Bank Ltd.
- Oversea-Chinese Banking Corp. Ltd.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

- The Hongkong and Shanghai Banking Corp. Ltd.
- Hong Kong (Special Administrative Region)
- Malaysia
- Thailand (Kingdom of)
- Singapore (Republic of) (Unsolicited Ratings)
- DBS Bank Ltd.
- China (People's Republic of )
- Indonesia (Republic of)
- Philippines (Republic of the)
- United Overseas Bank Ltd.
- Oversea-Chinese Banking Corp. Ltd.

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