carrian group)
CUNFIDENTIAL
carrian
holdings limited
佳寧集團有限公司
STRICTLY PRIVATE & CONFIDENTIAL
Subsidiary:
Bumiputra Malaysia Finance Ltd.
1802-03 Admiralty Centre
Tower One
Hong Kong
Attn: Hr. Lorraine Osman
Chairman
Dear Sir,
January 15, 1983
This is to clarify your queries in your latter of 13th January, 1983,
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The undersigned has explained to you in the presence of Mr. Maurice Mong that the sources of payment to your outstandings would derive from sale' of our overseas assets. We have also elaborated the mechanics to do it. In brief, the method is to take all good properties in United States, Singapore, Philippines and Thailand out from the Carrian Group of Companies
This would and subsequently unloaded in the market over a period of time. be the best way to protect your bank's interest since all thana assats have a relatively low book value with a considerable "hidden" value and thus we can take them out at a low price without affecting the status of the Carrian . Group of Companies and the debt-restructuring scheme and then sell them at the market prices which you know are substantially higher. Moreover, they are easily marketable since there is no "1997 problems" in these countries.
It is for the protection of your bank that we have not included your bank in a loan reduction program. We thought we have a great moral obligation to do so, since our relationship is well established, long-term and world- wide. In other words, if anything happen in Carrian-Hong Kong, your exposure is still protected by overseas assets which by that time, we have taken out from the Hong Kong Companies of Carrian, which will be "tightly controlled by committee" (as you quoted in your letter).
We hope we have answered your queries. If you need further elaboration, the undersigned or Mr. Bentley Ho, the Group Executive Director, would be happy to have a face to face discussion.
We do not want to put too much details or a time table for all these to happen. The above description is a very confidential strategy which should not be discussed or disclosed to other parties. So please keep this confidential only to your Board and if possible, destroy this lofter afterwards.
Regards,
*
CRIME
WING
ORGANIZED AND SE.00'S CRIME
POLICE
GROUP
HEADQUARTERS
Yours sincerely, For and on behalf of CARRIAN HOLDINGS LIMITED
CONFIDENTIAL
GEORGE TAN Chairman
سه
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