Home News Debt and defaults

Debt danger lurks in Covid-19 shadow

Jeffrey Tan
Jeffrey Tan5/29/2020 07:00 AM GMT+08  • 13 min read
Debt danger lurks in Covid-19 shadow
More companies in danger of default given higher leverage, weaker balance sheets and greater risk of liquidity crunch amid the pandemic
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More companies in danger of default given higher leverage, weaker balance sheets and greater risk of liquidity crunch amid the pandemic

SINGAPORE (May 29): On April 27, Jardine Cycle & Carriage (Jardine C&C) sounded a rare warn­ing to the market on its financial per­formance year to date. The conglom­erate, which has interests in multiple businesses across South-east Asia, says it ex­perienced “challenging trading conditions” in the first quarter of 2020 as a result of the novel coronavirus (Covid-19) pandemic.

In particular, the various measures to curb the spread of the Covid-19 pandemic have re­sulted in the temporary closure of many of its businesses. This has led to an adverse impact on the operations of many of its subsidiaries.

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