ELK-Desa to focus on asset quality

TheStar Fri, Sep 04, 2020 08:40am - 3 years View Original


PETALING JAYA: Elk-Desa Resources Bhd, a non-bank lender focused on the used-car segment, says it would concentrate on protecting the quality of its assets while positioning to take advantage of the eventual market recovery.

Group executive director and chief financial officer Teoh Seng Hee said: “Under the current circumstances, we are intensifying our credit risk management.

“As such, we do not expect to grow our hire-purchase receivables significantly in the immediate term.

“Concurrently, we are also paying close attention to credit recovery initiatives. Protecting our shareholders’ value is a priority at this juncture, ” he said in a statement following the group’s AGM.

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