After Hyflux's fall, Singapore debt buyers are scrutinizing these firms

These are some smaller firms with bonds maturing before end next year that bear watching, according to analysts.The logistics company, a subsidiary of Hong Kong-listed CWT International Ltd, paid its bond due on April 18 but its parent's problems have cast a shadow.

CWT International's total debt was HK$9.7 billion and cash and equivalents stood at HK$1.7 billion as of Dec 31, according to Bloomberg-compiled data.Debt coming due: S$66 million bond due Oct. 3, 2020 Cash and equivalents stood at S$59.9 million as of Jan 31, according to the company's filing. Its total debt came to S$332.8 million, Bloomberg-compiled data show. The group said in a March filing it's currently seeking permanent waivers for loan covenant breaches resulting from the"Blackgold event."

Its efforts to sell assets have faced some difficulties. The firm terminated a letter of intent to sell its two hotels to Gracious Land for S$950 million in March, prompting a slump in its share price. Since Neptune Orient Lines was bought by French shipping firm CMA CGM SA in 2016, there has been less visibility on the firm. NOL had a net loss after tax of US$134 million for its financial year 2018, while its total debt stood at US$2.6 billion and total cash at US$134 million as of Dec 31, according to unaudited figures included in a presentation on its website.

Debt coming due: S$75 million notes due June 22, 2020; S$120 million 6.6 per cent perpetual bonds; S$140 million 7 per cent perpetual securities

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