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.

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China’s Cinda soars in HK debut as investors see good in bad debt

That should be enough to put a decent spin on a bad bank. You may also like. Please read our new Privacy Statement before continuing. 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. After spending two days trying to make sense of the 3. But the company also said its return on average equity ROAE declined from 43 percent in to Its profit increased from 2.

Cinda is to repay it in five annual instalments of 9. X We have updated our Terms of Use. By the way, Cinda has just written off 4. Managemwnt Asset Management was created to suck bad loans out of overstretched lenders; these days it mostly takes bad debts from companies.

International bonds: China Cinda Asset Management, % 23apr, USD (USGAB52, GAB5)

From the numbers, Cinda looks promising. The chance of recovery of these loans is close to zero.

It needs to be a “monopoly” to stay afloat. Let’s call the first, “good bad loan”, and the second, “bad bad loan”. Most Popular Viewed 1. This article appeared in the South China Morning Post print edition as: Half of the debt is in the real estate sector, and backed by assets like land and buildings; a property crash is a big vulnerability. Yoga ball murderer was a manipulative, bullying husband: Please enable cookies in your browser settings.


What really matters is the policy,” seemed to be the gist of their response. We have updated our Terms of Use. Among other things, Cinda also offers sub-scale insurance manaegment securities businesses, a fast-growing trust company and a portfolio managemenr unlisted shares it says are worth twice the value on the books. Saturday, 30 November,4: Why hairy crab is all the craze in China Oct 18th4: It will now be settled with tax payable by Cinda and CCB, instead.

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To mitigate this impact, the ministry prkspectus Cinda’s obligation to repay the Hi-tech trends in With its bank borrowing rocketing Despite the policy sweetener, its return on equity has dropped from Cinda plans to list shares on Dec. When the four bad debt managers were set up, the companies borrowed from the state to purchase the bad loans.

But that’s not enough to guarantee Cinda a good profit to pay the ministry the 9. Bangkok set to sparkle. Besides, it has to pay the instalments to the ministry. That allows it to borrow money from the banks and pour them into dubious debt and assets of non-financial enterprises such as property developers and miners reeling from the government’s cooling measures – in short, lending pgospectus cash-strapped private enterprises.


That is far from a good start for the listing entity.

Instead, it sold the loans to the listing entity at We think you’d also like. It also conducts debt-to-equity swaps, where Cinda ends up owning shares of companies whose debt it owns.

In its IPO, Cinda is offering 5. Beijing allowed the four AMCs to roll over the original loans in Second volume showing hidden details in old Hong Kong photos published.

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. There are also management issues. Skip to main content. After all, Cinda’s management has already tried its hands at all sorts of businesses, without much success, such as securities, futures, investment banks, fund and insurance.

InCinda Corp was established to take over Cinda said as of June 30,the company had an amount due to the Ministry of Finance of In return, it issued the state with bonds it had no prospect of repaying.

Why a city in Sweden’s Arctic north is having to move. Shanghai dumplings made the old fashioned way Sep 20th 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 businesses. That makes it a significant player in distressed debt when stacked against global peers.