| March
8, 20 – Fraser & Whatt Trading, Ltd.
390 River Valley Road
SINGAPORE 1124
Gentlemen:
You are no doubt aware of the recent sharp declines in
sales in our market due to the recession here. This decline
has left us with huge inventories, the carrying cost of
which is now putting an extremely heavy burden on our finances.
We are writing today to ask for your cooperation in dealing
with this problem. Specifically, we request that you grant
us an additional 60 days usance on all payments until inventories
can be adjusted to normal levels. This will probably require
another four to five months depending on sales in the interim.
Your usual prompt and positive consideration of this request
would help a great deal at this time.
Yours sincerely,
Jin Ki-shik
Director of Finance
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