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Singapore developers, banks could emerge unscathed from China’s property crisis
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Country Gardens, China’s largest privately-owned developer by sales, averted default for the third time over the past month.
PHOTO: REUTERS
SINGAPORE - The crisis surrounding China’s property sector continues to rumble, but Singapore property developers and banks with operations in that country may escape without serious harm, said market watchers.
That is because Singapore developers in China are not saddled with the liquidity problems afflicting their Chinese counterparts. And some have dodged a bullet because they mainly have operations in cities relatively unaffected by the crisis.
