Regulator demands cos report sub-prime exposure

The demand applies principally to companies with real estate investments in the US, but also those with past exposure through indirect investments.

The Israel Securities Authority has ordered dozens of companies to report the extent of their exposure to the sub-prime crisis. The demand applies principally to companies with real estate investments in the US, but also those with past exposure through indirect investments.

The Securities Authority recently mapped carried out an internal mapping of the companies which purportedly could have exposure of varying degrees to the sub-prime crisis. Following this, dozens of companies were asked by the Securities Authority to provide details of the extend of their exposure, and today's announcement to the Tel Aviv Stock Exchange (TASE) by BSR Projects (TASE: BSRP) is the outcome of this initiative.

BSR Projects, a member of the BSR Group controlled by president Nachshon Kivity and Kalman Sufrin, said it estimated the fall in value of its US projects at $3.3 million, which would be reported in the company's report for 2007. One property is in Fort Myers, and the other in Saint Petersburg in Florida.

Published by Globes [online], Israel business news - www.globes-online.com - on March 6, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018