Singapore, 27th October 2017 – ETHOZ Group Ltd, integrated automotive solutions and financial services provider, today signed a deal for a syndicated loan of S$130m.
Led by Bank of China in partnership with 6 other foreign banks, the 3-year tenured loan will go towards business expansion activities and working capital funds. This landmark deal is the first time ETHOZ is partnering with Bank of China for a syndicated loan.
Officiating the signing ceremony was Mr. Joseph Ong (Chairman, ETHOZ Group Ltd) and Mr. Augustine Lim (General Manager – Corporate Banking, Bank of China) along with representatives from each partner bank and ETHOZ.
“Funding is the lifeblood of all businesses,” said Ms. Cindy Oh, Chief Executive Officer of ETHOZ Group. “This syndicated loan with BOC (Bank of China) and its partners signify the banks’ confidence in our business growth strategy both locally and abroad.”
ETHOZ provides a full suite of long term vehicle leasing options and financial services for corporate clients. It also provides short term car rentals to retail customers. This business model has enabled ETHOZ to achieve sustainable growth over the past 36 years; its current asset value to date is approaching S$1bn.
About ETHOZ Group
ETHOZ Group, incorporated since 1981, is a market leader in integrated automotive solutions and a forerunner in the financial services market in Singapore, providing capital financing and equipment leasing services. The Company also has offices in Malaysia and in all the major cities in China.
At ETHOZ, It’s All About Value. ETHOZ is accessible through their website at www.ethozgroup.com.
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