Orient plans debt sale

China Orient Asset Management Corporation is auctioning off a pool of non-performing loans worth US$386 million in Shandong province, the South China Morning Post reported. The upcoming auction, advised by KPMG, includes borrowings made by 104 debtor companies, which were transferred to Orient from Bank of China in 2000. The planned sale comes as the AMCs look to boost deal flow ahead of their end of 2006 deadline for clearing NPLs taken over from state banks in 2000.