All articles by Verdict Staff
Verdict Staff
VR Leasing ends talks with Italease
The announcement was made by Italeases head Lino Benassi, who said that the decision of DZ Bank, the German group which owns VR Leasing, was totally unexpected and likely linked to the current market uncertainties. Banca Italease and VR Leasing had agreed earlier this year to create a joint venture, in which the German lessor would have obtained a 60 percent majority stake with the option to acquire the remaining 40 percent of the new business unit.
Keeping stock
Scott Hussey, head of asset management at HSBC Equipment Finance UK, explains to Jason T Hesse why, and reveals what the best locations are for offloading used assets. Scott Hussey joined HSBC Equipment Finance UK with the task of setting up and running an asset management function for the lessor
The Latin connection
As Brazil becomes an increasingly interesting market for Western lessors, Brendan Malkin interviews Stephan Knuppertz, the head of Heidelberg Financial Services, about operating in the country LL: Financing activities in the Brazilian market represent a significant part of Heidelberg Financial Services, worldwide activities
Russian leasing firms turn to security service to check clients
Leasing companies in Russia are paying government sources to obtain background information on prospective customers and clients, Leasing Life has discovered. Former Russian security service employees are being hired into leasing companies security departments to obtain government reports on private individuals. According to Eric Sievers, senior vice-president at Nordkap Bank, it has become an accepted and nearly universal business practice of any medium to large-size company.
Prices of IT equipment about to plummet as secondary market begins to dry up
The IT used-equipment marketplace is currently experiencing the calm before the storm companies are holding on to their IT equipment for longer given the current economic climate. As a result, we are seeing a slight lull in the amount of used equipment on the market, with only basic enterprise equipment being sold. A large volume of equipment is expected to come through on the back of the banking and financial industry collapse in the next few months, which is likely to flood the market and push prices through the floor
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Pressing need for MI reports
It is ironic that as soon as lessors have got to grips with their own accounts, they lose much of the economic benefit that would normally flow from this. This point was made clear at Invigors executive briefing last month in which Mark Picken, vice-president and manager of sales at ING Lease UK, said that after three attempts and one year of trials it has finally perfected the production of management information reports on its 800 or so brokers. Clearly, this is great in its own right, and judging by the number of questions thrown at Picken after his presentation, not everyone is as capable as ING Lease is to determine whether the intermediaries they employ are in a position to bring home the bacon.
Hitachi Capital scoops National Grid deal
Hitachi Capital has been chosen to supply utility provider National Grid with 10 suction excavators, the biggest order for such specialist vehicles in the UK to date. The 10 excavators, which are provided under a four-year contract hire deal with an option to extend by a further four years, will be used by National Grid in its gas pipe replacement programme, which aims to renew more than 90,000km of existing cast iron, ductile and steel gas mains in England. The UK-based subsidiary of Hitachi Limited has worked closely with TT-UK and its German partner RSP, which specialises in the construction and manufacture of suction excavators, to develop a bespoke solution in order to access underground pipelines with speed and accuracy, without disturbing existing networks.
De Lage Landen planning further consolidation of business lines
De Lage Landen (DLL) may be the next bank subsidiary to wade into Netherlands leasing uncertainty in 2009, with a possible upcoming consolidation of its business lines. It is understood that DLLs six business lines (agriculture, health care, office equipment, technology, constructionindustrial, and transportation) may be consolidated to some extent in 2009 The companys business plans for the year ahead, originally due to be released during Q3, remain under renewed discussion.
VW requests loan guarantees from German gov’t
Volkswagen has filed a request with the German government for loan guarantees for its financial services unit, the company has announced.
Latvian bank looking to buy leasing portfolios in Belarus and Russia
Latvias Rietumu Bank is considering buying Parex Banks leasing portfolios in Belarus and Russia, a representative from Rietumu has confirmed. Sergejs Grodnikovs said that Rietumu would like its Belarusian subsidiary, WestLeasing, to purchase the Parex Leasing portfolio in Belarus. According to our information, the size of the portfolio is worth tens of millions of US dollars. he said