About Us

About your loan
Selected loans were transferred from HSBC Bank Malaysia Bhd to Eucalypt Mortgages Sdn Bhd with effect from October 12, 2007 . This transfer took place under Bank Negara Malaysia 's "Guidelines for Disposal of Non-Performing Loans by Banking Institutions". 
If your loan was selected as part of this transfer, it was due to its non-performing status as of October 30, 2006 . Even if the status of your loan changed since that time, the transfer remains in effect and Eucalypt Mortages Sdn Bhd remains as your lender. 
Unless other arrangements have been agreed between you and EMSB, all the terms and conditions in your previous loan agreement with the Bank will continue to apply between yourself and EMSB. The only difference is that your loan is now vested with EMSB, meaning that the lender and chargee institution is now EMSB. 

About the loan transfer
HSBC Bank Malaysia Bhd (the "Bank") sold selected loans to Eucalypt Mortgages Sdn Bhd (Company No. 761862-K) (“EMSB”) pursuant to Bank Negara's Malaysia 's Guidelines for Disposal of Non-Performing Loans by Banking Institutions. The transfer of loans was ratified by the High Court of Malaya at Kuala Lumpur by way of a Vesting Order. This Vesting Order was advertised in The New Straits Times and Berita Harian on 12 October 2007 .
Effective since 12 October 2007 , these loans, together with the Bank's rights to the underlying security were transferred in full to EMSB. All outstanding amounts are owed and payable to EMSB, and the rights to the underlying security are exercisable by EMSB.

About EMSB
EMSB is a company registered with Bank Negara Malaysia to carry on factoring business (that is, the business of acquiring debt). EMSB is owned by a local consultancy firm and a foreign special purpose vehicle managed by an asset management firm, regulate.