Asian oil and petrochemical companies have procured almost US$10 billion worth syndicated loans in 2005, the highest borrowing of any industry in the region. These loans have mostly been utilized for capacity expansions to meet robust demand from the growing Asian regions, particularly China. China, the world's fastest-growing economy, growing by an annual average 9.5% over the past three years, is leading Asia's demand for chemicals.
Asian borrowers were led by Thailand's state-controlled oil company PTT Pcl, Taiwan's Formosa Petrochemical Corp. and Singapore's Hin Leong Trading Pte Ltd., as they sought more than US$2 billion of loans for expansion.
09-Jan-06 
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