By Anshuman Daga and Roslan Khasawneh
By Anshuman Daga and Roslan Khasawneh
SINGAPORE, March 2 (Reuters) – ING and Malayan Banking Bhd (Maybank) had been the highest collectors of Singapore commodity dealer Agritrade Worldwide, which was final month positioned below interim judicial administration.
Paperwork reviewed by Reuters confirmed Malaysia’s Maybank MBBM.KL tops the listing of secured lenders to Agritrade with $118 million owed to it, with Dutch financial institution ING owed $100 million.
The buying and selling firm has $1.55 billion in excellent liabilities to dozens of collectors, together with $983 million owed to secured lenders, an affidavit by Agritrade’s chief govt officer Xinwei Ng dated Jan. 16, confirmed.
A Maybank spokesman declined to touch upon particular purchasers however stated that it “has a stringent provisioning coverage in place and takes applicable measures as and when required to handle the asset high quality of our total credit score portfolio”.
ING ING.AS declined to remark.
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