All articles by Fred Crawley
Fred Crawley
Commlinks launches scheme to sell ex-lease telecoms equipment
UK telecoms equipment provider Commlinks is keen to buy up used telecoms assets from leasing companies, with the intention of refurbishing the systems for resale. In a scheme that mitigates the notoriously low resale options of ex-lease telephone systems, the equipment is dismantled, tested, cleaned, and often given fresh backup batteries, before being reassembled and resprayed with plastic coating.
Can a Canadian lessor inject new life into UK market?
UK introducers reading these pages will be heartened by the emergence of Aldermore and Close Business Finance as homes for deals in 2010, but another new name has been heard more and more in conversation over the last quarter.
Revealed: Northern Ireland’s embattled brokers
Leasing Life research reveals Lombard is virtually the sole broker funder left in Northern Ireland
The future for brokers
In a two-page report on UK brokers, we examine the latest funders to have pulled out of introduced business and whether a Canadian subprime player might be a tonic for the market in 2010.
Fresh hope for leasing
Two major moves in the UK leasing market suggest there is still plenty of money to lend, particularly to small and medium-sized enterprises
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Commercial fleets make headlines
As has been the case in recent months, the most visible deals on the market continue to be commercial vehicle fleet deals.
Dutch oil tech group to buy out Stable Leasing
Paradigm Oilfield Services Limited (POSL) is to pay a six-figure sum for the remaining trade an assets of the Aberdeen based Stable group, which includes a leasing business for oil industry equipment.
Legal recruiters: asset finance work set for slow growth
Despite widespread reports of increased litigation work by asset finance lawyers at present, a recent survey of City partners conducted by recruitment firm Nicholas Scott states that asset finance is one of the practice areas least likely to grow over the next six months.
Baltic impairments cause 99 percent profit drop for SEB
Swedish banking group Skandinaviska Enskilda Banken (SEB) has announced a third quarter profit of 2.5 million, some 99 percent down on last years figure of 187 million, due largely to write-offs in the Baltic region. The bank, a major player in Scandinavian and Baltic leasing, reported 323 million in credit losses over the quarter, with most attributable to loan books in Lithuania, Latvia and Estonia. The Lithuanian arm of SEB Bank, for example, reported a net loss of 181.6 million for the first nine months of this year, accrued from a leasing and credit portfolio in the country worth over 6 billion
Fixed interest agreements give Cat Financial a tough third quarter
Caterpillar Financial Services has reported global revenues of $676 million (451.8 million) for the third quarter of 2009, down 11 percent year-on-year. Profits at Cat Financial stood at $76 million (50.8 million), some 36 percent lower than after the equivalent period in 2008. The decline was largely ascribed to a $77 million (51.5 million) decrease in lease receivables from agreements on constant interest rates, offset slightly by a positive impact of $20 million (13.4 million) from higher rates on newer contracts.