Far East Horizon sells financial leasing assets to securities firm

Far East Horizon sells financial leasing assets to securities firm

Hong Kong-listed financial services provider Far East Horizon has announced that it has reached agreements with Shanghai Guotai Junan Security Asset Management for the disposal of two financial leasing subsidiaries.

Far East Horizon will sell International Far Eastern Leasing and Far Eastern Horizon (Tianjin) Financial Leasing company to Guotai Junan for RMB833.6m ($130.8)and RMB1.1bn ($172.7m) respectively.

Far East Horizon believes the disposal will accelerate the overall turnover of the Company’s assets and increase the overall revenue generated, moreover, the proceeds received from the disposal will provide financial supports to the company’s business development of new projects.

Far East Horizon mainly provides integrated finance and leasing services in transportation, infrastructure construction, industrial machinery sectors, as well as ship brokerage and chartering services.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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