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<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Nov 17, 2008
</TR><!-- headline one : start --><TR>Reposession of assets held back <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Christopher Tan, Senior Correspondent
</TD></TR><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"-->BANKS and finance houses are holding back on car repossession in this economic downturn, despite a rising number of loan defaults, say industry sources.
They cite a soft resale market here and weak demand abroad as reasons. With slack demand from abroad, the re-export market, along with the resale value of cars in general, has been hit.
In this climate, a bank which repossesses a car may not be able to recoup the sum it is owed. Read Christopher Tan's full story in Tuesday's edition of The Straits Times.
</TR><!-- headline one : start --><TR>Reposession of assets held back <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Christopher Tan, Senior Correspondent
</TD></TR><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"-->BANKS and finance houses are holding back on car repossession in this economic downturn, despite a rising number of loan defaults, say industry sources.
They cite a soft resale market here and weak demand abroad as reasons. With slack demand from abroad, the re-export market, along with the resale value of cars in general, has been hit.
In this climate, a bank which repossesses a car may not be able to recoup the sum it is owed. Read Christopher Tan's full story in Tuesday's edition of The Straits Times.
