Cash on hand

Mainland asset repackager Silver Grant International has enough cash to buy new distressed assets and predicts at least 15 per cent annual returns from such acquisitions.

'The company has a few billion cash on hand. We will contribute that whole amount into acquiring more distressed assets,' said Silver Grant managing director Gao Jianmin.

The company plans to take part in China's first open public bidding event for distressed assets but Mr Gao declined to provide other details.