He said, 'We expect to see more banks with cross-border exposure dispose of underperforming assets
, including those that may have previously been considered as core businesses, in order to unlock value.
Group chairman Meenu Malhotra said: "We have always had a plan to acquire and develop underperforming assets
and bring them to their fullest potential.
The Company has made important development in separating its core and non-core portfolios and, in the case of the latter, improving the prospects for certain previously underperforming assets
that have yet to reach their potential, notably Pilar and C1 Santa Luz.
VRH's mission is to optimize the value of underperforming assets
He quickly stepped up sales of underperforming assets
and reined in costs in an effort to improve flagging financial performance, and early indicators suggest the moves are bearing fruit.
The company said it attributed the increase in net income primarily to its strategic focus on core competencies that led to the 2012 sale of certain underperforming assets
and shutdown of certain operations at the subsidiary level.
Real estate leases have their own sets of optionality issues that cover both ends of the asset performance spectrum: the disposition of underperforming assets
and the need for added capital to expand assets that are strong performers.
With banks taking more steps to sell underperforming assets
, a stronger consensus for near-term economic growth and more comparable sales lending clarity to asset prices, we expect the volume of transactions will increase throughout 2011 and 2012," the report says.
Summary: NEW DELHI - Dubai World, the state-owned holding company restructuring $26 billion in debt, is seeking to separate ogoodo businesses from underperforming assets
as part of its restructuring plan, Shaikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee, said.
NEW YORK: Merrill Lynch and Company is setting up a group to get rid of troubled or underperforming assets
and named US fixed income sales head Doug Mallach its head, according to an internal memo.
2 billion of Leggett & Platt's underperforming assets
In the past year, as a part of the transformation plan to rationalize underperforming assets
, the company exited its Sprague and Rittman mills, and closed its Lafayette, Ind.