Global Investor Stena Injects Multi Million Dollar Investment as Collectius Reaches One Million Customers
KUALA LUMPUR, Malaysia, June 11, 2018 (Newswire.com) - As Collectius is reaching 1 million customers Stena is making a multimillion dollar equity injection and increases its commitment through a credit line. The Swedish family-owned conglomerate Stena’s increased commitment in Collectius reflects the company’s potential as a market-leader within distressed consumer credit or so-called non-performing loans (NPLs) in South East Asia. The investment will help the company reach its short- and mid-term goals.
“We are hungry and reaching one million customers. Stena is a good partner who brings not only capital but an entrepreneurial business culture that we treasure. We are aligned,” says Gustav A. Eriksson, CEO Collectius Group.
Collectius focuses on helping banks dispose of their non-performing loans (NPLs). According to the company’s chairman Mr. Tibor Veres (previously chairman for Aktiv Kapital and co-founder of Hoist finance) says debt sales are common in the U.S. and Europe and something that banks are constantly doing as a part of their operations and funding.
Debt sales in Asia is expected to increase significantly because it makes huge economic sense to sell the write-off portfolios also with time tighter regulations and accounting measures will drive NPL portfolio sales. Ted Osborn (partner at PwC Hong Kong) says that banks benefit by selling NPLs to third parties in many ways including improving their capital position and liquidity and by freeing up resources.
In an interview published by Bloomberg (Firm Backed by Swedish Money Eyes Distressed Loans in Asean) By David Yong the Group CEO Gustav A. Eriksson described how Collectius has recently helped many banks in the Philippines, Malaysia and in Thailand to dispose of their NPLs, bringing the company closer to its short-term target of one million customers. This has likely motivated Stena to increase its investment. According to Collectius management, after the Stena capital injection, Collectius will be very well-positioned to further grow and strengthen its presence in South East Asia.
“We are very impressed with what the management team has been able to achieve with the company. We look forward to supporting Collectius Group to expand into new markets and continue to invest in further growth. We have full confidence in management’s strategy to build a market leading position in Southeast Asia,” says Andy Boehm, Managing Director Stena Switzerland.
Stena Sphere:
Stena AB is one of the largest family-owned companies in Sweden and has global operations in five business areas: Ferry Operations, Offshore Drilling, Shipping, Property, Finance and New Business.
Collectius Group:
Collectius’s goal is to help debtors become debt free and to integrate them back into the society more financially knowledgeable than before. Collectius is promoting debt collections that have the highest level of compliance, automation, predictive analytics, big data analytics and customer-centric offer optimization.
Source: Collectius Group
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Tags: Become debt free, Collectius, Debt, debt free
