Maybank appoints receiver for Xihe tankers
KPMG is named receiver for three tankers on Xihe Group’s 136-strong fleet. Maybank’s move came after OCBC Bank’s success in filing for Xihe’s entities to be placed under court supervision
Maybank is not pursuing court-supervised recovery of its vessel loans, unlike OCBC Bank. However, its loans exposure of $15.3m is relatively modest compared with some other lenders, which have hundreds of millions at stake, and speculation has mounted on what steps the rest of Xihe’s 12-strong lenders might take
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