{"id":33188,"date":"2020-12-23T15:21:41","date_gmt":"2020-12-23T07:21:41","guid":{"rendered":"https:\/\/sg.everydayonsales.com\/news\/?p=33188"},"modified":"2020-12-23T15:26:59","modified_gmt":"2020-12-23T07:26:59","slug":"ssangyong-motor-in-dire-straits-after-fail-to-make-a-loan-repayment-of-60-billion-won","status":"publish","type":"post","link":"https:\/\/sg.everydayonsales.com\/news\/33188\/ssangyong-motor-in-dire-straits-after-fail-to-make-a-loan-repayment-of-60-billion-won\/","title":{"rendered":"SsangYong Motor in Dire Straits after Fail to make a Loan Repayment of 60 Billion Won"},"content":{"rendered":"

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SsangYong Motor in Dire Straits after Fail to make a Loan Repayment of 60 Billion Won<\/p>\n

\"\"<\/p>\n

The ailing South Korean automaker said in a statement that they have filed for bankruptcy after failed to make a loan repayment of about 60 billion won (S$78 million) with foreign banks. As SsangYong owes Bank of America about 30 billion won (S$39 million), JP Morgan Chase 20 billion won (RM73.2 millionS$23 million), and BNP Paribas 10 billion won (S$13 million).<\/p>\n

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As currently, Mahindra and Mahindra which hold a 74.65% of stake in SsangYong have said that the due was on December 14 where previously it said would be pumping US$423 million(S$566 million) into SsangYong to make it profitable by 2022 but after the Covid-19 breakout, it has ended that planing. And Mahindra would no longer invest in SsangYong and asking SsangYong to look elsewhere for the funding. And the Indian company would be willing to let go of their ownership and stake for anyone looking to buy over SsangYong.<\/p>\n

As sales currently are being low at the moment in Korean carmaker, where it only sold 97,000 vehicles between January to November, which is 20% of sales compared to 2019.<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

SsangYong Motor in Dire Straits after Fail to make a Loan Repayment of 60…<\/p>\n","protected":false},"author":6,"featured_media":33190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[65],"tags":[4052],"yoast_head":"\nSsangYong Motor in Dire Straits after Fail to make a Loan Repayment of 60 Billion Won - Singapore EverydayOnSales News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sg.everydayonsales.com\/news\/33188\/ssangyong-motor-in-dire-straits-after-fail-to-make-a-loan-repayment-of-60-billion-won\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SsangYong Motor in Dire Straits after Fail to make a Loan Repayment of 60 Billion Won - Singapore EverydayOnSales News\" \/>\n<meta property=\"og:description\" content=\"SsangYong Motor in Dire Straits after Fail to make a Loan Repayment of 60…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sg.everydayonsales.com\/news\/33188\/ssangyong-motor-in-dire-straits-after-fail-to-make-a-loan-repayment-of-60-billion-won\/\" \/>\n<meta property=\"og:site_name\" content=\"Singapore EverydayOnSales News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/sgeverydayonsales\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-23T07:21:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-12-23T07:26:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/12\/a-Loan-Repayment-of-60-Billion-Won.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@sgeons\" \/>\n<meta name=\"twitter:site\" content=\"@sgeons\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"1 minute\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#organization\",\"name\":\"EverydayOnSales Singapore\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/sgeverydayonsales\",\"https:\/\/www.instagram.com\/sgeverydayonsales\/\",\"https:\/\/twitter.com\/sgeons\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2019\/08\/SG-EverydayOnSales.jpg\",\"contentUrl\":\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2019\/08\/SG-EverydayOnSales.jpg\",\"width\":400,\"height\":400,\"caption\":\"EverydayOnSales Singapore\"},\"image\":{\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#website\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/\",\"name\":\"EverydayOnSales Singapore News\",\"description\":\"Trending news for Singapore\",\"publisher\":{\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/sg.everydayonsales.com\/news\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/33188\/ssangyong-motor-in-dire-straits-after-fail-to-make-a-loan-repayment-of-60-billion-won\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/12\/a-Loan-Repayment-of-60-Billion-Won.jpg\",\"contentUrl\":\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/12\/a-Loan-Repayment-of-60-Billion-Won.jpg\",\"width\":1200,\"height\":630},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sg.everydayonsales.com\/news\/33188\/ssangyong-motor-in-dire-straits-after-fail-to-make-a-loan-repayment-of-60-billion-won\/#webpage\",\"url\":\"https:\/\/sg.everydayonsales.com\/news\/33188\/ssangyong-motor-in-dire-straits-after-fail-to-make-a-loan-repayment-of-60-billion-won\/\",\"name\":\"SsangYong Motor in Dire Straits after Fail to make a Loan Repayment of 60 Billion Won - 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