SET-listed Group Lease Plc (GL) will call additional loan collateral from its Cypriot debtor and insists it does not need to set aside loan-loss provisions to cover its intercompany loans. For the Singaporean borrowers, Group Lease does not plan to call more loan collateral. Its loans outstanding to Cyprus borrowers totalled $41.8 million and it charges them 15% interest. Borrowers in Singapore hold a combined 75 million shares in GL, some 4.96% of the total, while Cyprus borrowers own 11.5 million shares, a mere 0.75%. The company has no liquidity problems and can expand its business as planned, including takeovers of overseas companies, Mr Konoshita said.

Source: Bangkok Post March 14, 2017 23:03 UTC