The asset management segment recorded a revenue of HK$ million ( issued by China Cinda Group and the bank, respectively. means of a prospectus. Such prospectus will contain detailed information about the company China Cinda Asset Management Co., Ltd. CHINA CINDA ASSET MANAGEMENT CO., LTD IPO The material stated above is according to the prospectus issued by the issuer. Neither.

Author: Sashura Branris
Country: Latvia
Language: English (Spanish)
Genre: Personal Growth
Published (Last): 26 March 2007
Pages: 313
PDF File Size: 16.83 Mb
ePub File Size: 13.91 Mb
ISBN: 581-3-19775-501-4
Downloads: 34497
Price: Free* [*Free Regsitration Required]
Uploader: Nakinos

Balance Trump, cosy up to China, Koreas: When the four bad debt managers were set up, the companies borrowed from the state to purchase the bad loans.

UPDATE 2-Cinda IPO unveils secrets of a Chinese bad debt factory

Last year, the regulator found defects in its review of assets, disposal of assets, internal control, audit, cash and financial management – almost all aspects of management function. So in Junethe government gifted Cinda a policy to make it the first and the only asset management company to acquire distressed assets from non-financial enterprises.

Dying alone in Japan: Cinda said one of the main ways it conducts the distressed asset management business is by buying assets at a discount and selling them later for a profit.


Yet, bad-debt management and pricing in China, where professional liquidators do not exist, is mannagement transparent. In return, it issued the state with bonds it had no prospect of repaying. That makes it a significant player in distressed debt when stacked against global peers. Bangkok set to sparkle Sponsored by: It needs to be a “monopoly” to stay afloat.

But that’s not enough to guarantee Cinda a good profit to pay the ministry the 9. Although Cinda has acquired 28 billion yuan worth of bad loans on commercial terms over the years, the “bad bad loan” assets still form the bulk of its balance sheet. With just under half of the shares on offer already assigned to cornerstone investors, retail demand for the remaining shares is expected to be strong: At Cinda, those borrowings have yet to be repaid.

UPDATE 2-Cinda IPO unveils secrets of a Chinese bad debt factory | Reuters

Diversification sweetens the pill, however. This article appeared in the South China Morning Post print edition as: Second volume showing hidden details in old Hong Kong photos published.

It has even acquired two listed companies. Its profit increased from 2.

To fund this capital-intensive process, new investors are being asked to inject the equivalent of 15 billion yuan. Most Popular Viewed 1. Thank you You are on the list.


Besides, it has to pay the instalments to the ministry. That still costs From the numbers, Cinda looks promising. In the name of reforms, the central bank is also cutting its prosectus to Cinda. To mitigate this impact, the ministry waived Cinda’s obligation to repay the Despite the policy sweetener, its return on equity has dropped from US trade war forces firms to rethink private investment.

Among other things, Cinda also offers sub-scale insurance and securities businesses, a fast-growing trust company and a portfolio of unlisted shares it says are worth twice the value on the books.

It can be the result of bad-loan managers trading assets among themselves at artificially inflated values; or local governments “repaying” bad loans with more failing manage,ent.

Shanghai dumplings made the old fashioned way Sep 20th Investors in the cinxa Cinda are spared that backstory.

Third, with three bad-loan management companies lining up for listing, how long Cinda will keep the “monopoly” access to non-financial enterprises’ assets is anybody’s guess.