SINGAPORE : The number of new bankrupts in Singapore is at its
lowest in more than two years.
Law Ministry figures show that bankruptcy orders fell to 252 in
February, the lowest since December 2002.
It is also the second straight month that the number of new
bankruptcies had fallen.
The improvement is attributed to the job market picking up and a
buoyant economy.
However, the total number of undischarged bankrupts rose to a new
high of more than 21,700 - up 0.6 percent from January.
Analysts say bankruptcies are a lagging indicator of economic
activity, and will continue to fall as the job market and wage
levels improve.
Singapore's economy grew 8.4 percent in 2004, its fastest pace in
four years.
But growth is expected to moderate to between 3 and 5 percent this
year. - CNA