SJM to pay $9.9 million for two private jets

SJM Holdings Ltd.  said it would pay $9.9 million to exercise options to buy two private jets it has been leasing from Credit Suisse for at least five years for use by VIP customers.

SJM will in turn be reimbursed by Jet Asia, which operates the planes and is selling the two and four others due to low demand. It has found a customer to buy four of the planes. Both SJM and Jet Asia are controlled by Sociedade de Turismo e Diversões de Macau SA.