Tat Lee cuts RI exposure<\/p>\n
SINGAPORE (Dow Jones): Tat Lee Bank Ltd of Singapore said
\nyesterday that it has reduced its loan exposure to Indonesian
\nclients with Singapore assets as collateral, in line with the
\nfall in property and equity values, confirming a report in the
\nBusiness Times.<\/p>\n
A Tat Lee Bank spokeswoman said in a telephone interview: \"Our
\nquantum of loans extended to Indonesian clients has been reduced
\nsince December last year.\"<\/p>\n
The bank said in March that as at December 1997, it had an
\nexposure of S$502 million (US$300.6) in loans to Indonesian
\ncustomers operating in Singapore.<\/p>\n
The spokeswoman declined to disclose the outstanding exposure,
\nbut confirmed the newspaper report that the reduction came from
\nboth repayment of loans that have matured and adjustment of
\ncredit lines.<\/p>\n
Tat Lee Bank is in the process of merging with Keppel Bank
\nLtd.<\/p>",
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