SINGAPORE: Persistently high interest rates are putting stress on corporate balance sheets and leaving increasing numbers of firms here and across the region at risk of bankruptcy, according to a new report and experts.
The report noted that high interest rates have created an unfavourable borrowing environment, operational challenges and dented consumer spending.
These have resulted in a broad-based increase in distressed companies, unlike previous cycles in Asia where the pain was concentrated in specific industries such as the shipping and oil sectors.
The report from global consultants AlixPartners noted that Asias restructuring market is expected to heat up over the rest of this year and into 2024 with financial players expecting a …
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