ETHOZ Group Ltd Signs S$130m Syndicated Loan

SINGAPORE, Oct. 27, 2017 /PRNewswire/ -- 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.

ETHOZ and its partner banks at the loan signing ceremony
ETHOZ and its partner banks at the loan signing ceremony

"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 signifies 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 in 1981, is a fully integrated automotive solutions and financial services provider in Singapore, providing comprehensive automotive leasing packages and capital financing options to its customers. The Company is headquartered in Singapore with offices in Malaysia and major cities in China.

At ETHOZ, It's All About Value. ETHOZ is accessible through their website at www.ethozgroup.com.

For media enquiries:

Eugene Kang
Assistant Vice President, Marketing
ETHOZ Group
+65-6654-7755
eugene.kang@ethozgroup.com

Photo - https://photos.prnasia.com/prnh/20171027/1974764-1

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