United States, 1st Sep 2023, King NewsWire – In recent years, the global economy has experienced significant impacts due to the COVID-19 pandemic. Financial institutions and tangible enterprises have seen an increasing exposure of non-performing assets, while events like corporate defaults and debt crises have become frequent occurrences. According to statistics, over the course of three years since the pandemic began, the number of globally closed-down enterprises has reached a staggering 20 million, resulting in a substantial surge in the market size of non-performing assets. However, simultaneously, the accumulation and concentration of these non-performing assets have severely disrupted the normal functioning of the market’s financial order, and there exists a potential systemic risk of financial crisis.
In the face of the new economic situation, only by intensifying efforts to dispose of non-performing assets, expanding channels for disposal, and optimizing methods for disposal, can we effectively revitalize these assets, assist struggling enterprises in upgrading their industrial structure and strategic adjustment, thereby turning losses into gains.
To secure a position in the multi-trillion-dollar non-performing asset disposal market, the company (Odyssey) has recruited industry giants from the financial sector. These include Armin Choksey, Business Manager of Singapore Variable Capital Company (VCC); Henk-Jan Rikkerink, Global Solutions and Multi-Asset Head at Fidelity Funds; Peter Blair Henry, Senior Director of Citibank; Dr. Ye Jin Guo, Chairman of Singapore’s Ye Shui Fu Group, among others. This has resulted in the formation of a powerful advisory team to assist and support the company in seeking relatively high-quality non-performing assets globally, conducting acquisitions and mergers, restructuring and packaging for listing, revitalizing assets, and creating value.
There remains some misunderstanding about non-performing assets in the market. Many still believe that they equate to worthless assets. Non-performing assets mainly include but are not limited to assets of banks, governments, securities, insurance, funds, and enterprises. They generally refer to net asset losses, potential losses booked, and non-performing bank claims that have not been dealt with. In simple terms, non-performing assets refer to loans where borrowers are unable to repay principal and interest as scheduled.
Non-performing assets are not synonymous with trash assets. They do not necessarily imply inefficacy or uselessness. Among these non-performing assets, some are from companies with quality resources. They are unable to repay debts due to temporary operational difficulties. If these companies can undergo mergers and acquisitions, infuse new, vibrant quality assets, they have the potential to transform and upgrade, rejuvenating themselves.
Odyssey fully leverages its accumulated customer and project resources in the non-performing asset business, as well as its high credit rating advantage. Through in-depth examination and research of acquired companies, it employs various methods for non-performing asset disposal including direct collection, public transfer, agreement transfer, asset-for-debt swap, asset securitization, entrusted liquidation, and cooperative liquidation. Through restructuring arrangements, it addresses repayment times, amounts, methods, and security mortgages, solving liquidity issues faced by enterprises, realizing debt recovery, and aiding companies in achieving debt reduction, equity transfer, and asset substitution, effectively resolving their debt crises and restoring profitability.
Simultaneously, the platform generates significantly higher returns on investment for its investment partners compared to typical market investment choices during the asset restructuring process.
Odyssey is involved in 14 sectors across four major industries in the non-performing asset disposal field:
Agriculture: cigars, red wine, coffee, and agarwood
Mining: jewelry, rare earths, precious metals
Tourism Real Estate: hotels, villas, homestays, apartments
Technology: AI intelligence, blockchain, distributed cloud storage
As of the end of July, Odyssey has accumulated the acquisition of non-performing assets from small and medium-sized financial institutions and various enterprises, amounting to $120 million.
Looking at future development trends, the non-performing asset disposal industry is in a vigorous growth stage. It is anticipated that the industry’s scale will further expand in the coming years. Governments around the world are increasing support for the non-performing asset disposal industry, actively promoting its development. The industry’s favorable external market development trends provide significant growth prospects for the company. By accelerating its own transformation and upgrading, increasing capital input, fully utilizing information technology and intelligence, and enhancing efficiency and quality in non-performing asset disposal, the company’s investment in non-performing asset disposal is expected to reach $1 billion in 2023, positioning itself as a crucial force in the future non-performing asset disposal industry.
Contact Person: keekoksen
Country: United States
Release Id: 0109236005