Credit card defaults rise in Singapore
Source: http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert/0/0/credit-card-defaults-rise-in-singaporePosted on Monday, November 3rd, 2008 | In Asia
Contributed by: Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert) -
Singapore debt collector DP Information Group reported that its credit card collection cases have more than doubled since March.
And the company expects conditions to get worse.
‘We have already detected a downturn in consumer repayment behaviour as a result of the credit crisis. We foresee a greater and more visible impact on defaults and
rollover amounts in the coming months. This would be due to greater job
losses and general negative consumer sentiment.”
Last 5 posts by Tony Sagami
- World Bank Calls China: A “Ray of Hope” - April 14th, 2009
- Even Walt Disney Couldn’t Have Imagined This … - April 9th, 2009
- Following the Warren Buffett of China - February 17th, 2009
- Gaming stocks down on their luck - January 20th, 2009
- Japan: worst stock market drop in history - December 31st, 2008
 About Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert)
Tony Sagami, a veteran investment advisor and a leading expert on Asian markets, is the owner and founder of Harvest Advisors, an investment research and money management company. Mr. Sagami has been managing money for more than 20 years and is one of the early pioneers in the application of technical and quantitative analysis to mutual funds and stocks. He is a featured contributor to Weiss Research’s daily e-letter, Money and Markets and monthly Safe Money Report as well as the editor of Asia Stock Alert. Prior to establishing his own firm, Mr. Sagami was managing director at W.E. Donoghue & Co, serving additionally as the director of investment. During his successful career, he also held the position of account executive at Merrill Lynch. Mr. Sagami’s views on Asian markets, specifically Chinese investments, have been featured in publications such as The Wall Street Journal, Barron’s, Kiplinger’s, Smart Money, Business Week, New York Times, Washington Post, Investors Business Daily, Bloomberg, Financial Planning Times, Mutual FundsMagazine, Chicago Tribune, and the LA Times, as well as on CNBC and CNBC Asia. Mr. Sagami holds a degree in economics from the University of Washington. |
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