SHIPPING & MARINE | Staff Reporter, Singapore

Daily Briefing: Keppel uncertainty prolongs; China infects Singapore banks

And here’s the deal on a mega project launching soon.

Keppel Corp.’s uncertainties about the oil- rig market are set to continue after a key customer in Brazil that has fallen more than a year behind on its bills postponed a meeting on restructuring. Sete Brasil Participacoes SA decided to push back the meeting, a company press official said in an e-mailed statement Thursday. No new date has been set. Read more here.

The Chinese juggernaut of slowing economic growth, wobbly currency movements, slumping stock prices, pervasive disinflation and elevated credit stress has reached Singapore, where there's now palpable gloom in investors' dim view of the city-state's banking industry. Sample just one statistic: Even during the 2008-09 financial crisis, there wasn't a time when all three of the island's homegrown lenders traded below book value, which is what they did this week. Find out more here.

A S$58.3 billion mixed-use development the size of Ang Mo Kio is set to rise near the Tuas Second Link in the Johor Strait. The first phase of Forest City, a 14 sq km mixed-used development comprising four man-made islands, will launch in Singapore, China and Malaysia in the first quarter of 2016, but the sales gallery is already open for bookings. Read more here.

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