Oriental AMC looking for buyers to sell 30 billion non-performing asset packages

Source: Internet
Author: User
Keywords Asset Management non-performing assets China
In the afternoon of May 25, 2009, China Oriental Asset Management Corporation (AMC) held its 2009 annual asset promotion meeting in Beijing Capital Hotel to promote more than 30 billion assets from 20 provinces and cities such as Beijing, Shanghai and Guangzhou. The promotion will include asset packages, individual claims, equity and physical assets, including chemicals, pharmaceuticals, electricity, real estate and other industries.  More than 100 Chinese and foreign investors and intermediaries, including Deutsche Bank, GE, Ernst and firm, Deloitte, etc., attended the promotion meeting.  From the east assets of Dalian, Tianjin, Nanjing, Guangzhou and other offices responsible for the promotion of high-quality non-performing assets in the area, these assets have characteristics, but also contains greater investment value, such as Shanghai Chongming Island Land, Tianjin Binhai New Area project, Dalian East Asia Commercial Plaza assets. The "crisis" of non-performing assets, "machine" vice president of Oriental assets, said Li Xin, since the second half of last year, the domestic economic growth has been a round of rapid decline, asset prices have come down and fluctuations, corporate cash flow is generally tense, some of the original normal business enterprises are also subject to changes in the market demand for greater operating pressure. But after the country's rapid package of promotional policies, the first quarter of this year has stabilized, asset prices will rebound stabilisation, which has a positive impact on the disposal of non-performing assets.  Orient assets actively market-oriented, holding the large-scale asset promotion, aimed at attracting investors in the economic downturn, "bottom" bad assets market yesterday's bad assets has become today's investment opportunities, and will bring a huge return on investment tomorrow. Oriental assets also remind investors to pay attention to the two changes, one is the macroeconomic changes, the second is the judicial environment changes, these two points to the disposal of non-performing assets to bring certain difficulties.  But the company said that now, in the face of the international financial crisis to the domestic financial market impact, financial asset management companies are making full use of 10 years in the disposal of non-performing assets accumulated rich experience, customer resources and professional technology, in order to prevent and resolve the damage caused by the international financial crisis to make their biggest contribution. "In the face of the financial crisis, asset management companies will have more opportunities to acquire assets in the asset acquisition market; In the operating mechanism, the asset management company would pay more attention to risk prevention, especially the risk of innovative business, improve the ability of risk prevention and control, in the construction of talent team, to attract outstanding professionals have more leeway. In the face of the impact of the international financial crisis, the Oriental assets to adjust the strategy, enhance the sense of mission and self-confidence, in dealing with the financial crisis, prevention and control of financial risks and explore financial integrated management will be very promising.  "The director of the East Asset office said.  China oriental assets last year, the general non-performing assets disposal yield of about 20%, the company last year total cash recovery amounted to more than 14 billion yuan, to achieve profit of 360 million. Explore the financial sector in the 1999, the Ministry of Finance presided over the establishment of the Huarong, the Great Wall, the east, the letter amounted to four asset management companies, responsible for the acquisition of state-owned banks non-performing loans, and management and disposal of the resulting assets. At present, these four asset management companies are facing a commercialization transformation. Zhang Chunping, deputy general Manager of Oriental Asset Investment Management, said that Oriental Asset management company in the past ten years of business process, adhere to the disposal of non-performing assets at the same time, has been committed to the development of financial strategic investment, financial investment, bond business, custody liquidation, investment banking, financial advisers and other market-oriented business  And as a useful supplement to the main business. In recent years, China Oriental Asset Management company relies on a large number of non-performing assets resources, human resources and related experience technology, has entered the securities, financial leasing, rating, data and other financial services, and as a financial investor in the identity of some insurance companies and banking institutions.  Through years of positive exploration, the main business of non-performing assets, supplemented by other financial operations of the financial holding group model has been first-class. Zhang Chunping, deputy general Manager of Oriental Asset Management company, said that the transformation of the four major asset management companies in China has been reported to the State Council for approval, but Orient Asset Management company has already taken steps in the commercialization transition. The listing of Dongxing Securities last May and the development of foreign trade leasing business in recent years are the specific steps of commercialization transformation. The future of the company will be the financial services industry as the main business, financial investment will gradually be separated. "Out of the main business, speed up the non-financial business of various types of investment projects under the withdrawal of the company's future strategic task."  "Zhang Chunping said. It is reported that the Oriental Asset Management company's strategic transformation has been embryonic. In the field of credit rating holding the Oriental Jincheng International Credit Evaluation Co., Ltd. and Shanghai Far East Credit Evaluation Co., Ltd., the first in the asset companies to intervene in the field of credit rating, investment of 125 million capital, in this field has far surpassed the competitor.  In addition, Oriental Asset Management company has used its own industry background to the bad asset package data processing, and the Chinese Academy of Sciences to establish a powerful database, to pave the way for subsequent development. Although the commercial transformation of asset management companies has not yet finally been approved by the State Council, four asset management companies have firmly embarked on the road to financial holding. It is reported that the company plans to use 3-5 years of time to implement the "three-step" strategy to promote the implementation of the "big customer" strategy, the introduction of excellent strategic investors, timing listing, to achieve the company's leapfrog development.  Fidelity, Great Wall Asset management company executives previously in the media interview also said that the overall promotion of the company's commercialization of transformation and development is the future direction of development. Zhang Chunping revealed that, with the asset promotion, China Oriental Asset Management company to the financial services sector business cooperation to investors and intermediary agencies to promote. The company's future cooperation in the financial field and the parties to the discussion, mainly related to securities, ratings, data, leasing and other financial services, specific cooperation targets include China Oriental Asset Management Company's Dongxing Securities Co., Ltd., Oriental Jincheng International Credit Evaluation Co., Ltd, Shanghai Far East Credit Evaluation Co., Ltd.,  Beijing Oriental Data Consulting Co., Ltd. and China Foreign Trade Financial Leasing Co., Ltd. Li Yu, general manager of Asset Management Department of Oriental Asset Administration, said that China Oriental Asset Management CompanyIn the process of transition to commercialization, in order to focus on the development of non-performing assets business and financial services, the exit step of various investment projects under non-financial business is accelerated. Exit industrial Investment project in the promotion, China Oriental Asset Management company to investors on the proposed withdrawal of industrial investment projects, including the commercial taste of real estate and investment companies such as Non-financial investment, mainly for equity investment. such as Shijiazhuang Oriental City Plaza Co., Ltd. Project, as the most well-known comprehensive shopping brand in Hebei Province, located in Shijiazhuang commercial Gold lot, is a modern, comprehensive shopping malls, and has high-grade office.  China Oriental Asset Management Company intends to transfer the 92.73% stake in the company to the public through the equity exchange. Li Yu said that ten years ago, in order to deal with the impact of the Southeast Asian financial crisis, the State Council decided to set up four asset management companies to help state-owned banks to prevent and defuse financial risks and promote state-owned enterprises to establish a modern enterprise system.  Since its inception, asset management companies have always been to maximize the preservation of state-owned assets as the mission, in the management and disposal of non-performing assets, debt to the stock and risk financial institutions, such as trusteeship has played a positive role. After 10 years of development, non-performing assets as a market segment has developed into an indispensable resource allocation mode in the domestic market economy system. As one of the important participants in the market, the asset management company has developed and made great progress in the development and prosperity of market economy, and its business development is more marketable and professional. The way to dispose of non-performing assets from the initial simple "packaging, discount, litigation" extensive management into market-oriented bulk disposal, entrusted disposal, layered trust, asset securitization of professional operations, and formed a bad assets due diligence and valuation pricing technology, accumulated a wealth of market customer resources,  Set up a rigorous and efficient workflow, with a professional asset disposal personnel. 10 years after its establishment, in the face of the impact of the international financial crisis on the domestic financial market, "in order to cope with the impact of the international financial crisis, China Oriental Asset management companies to actively adjust the strategy to speed up commercialization transformation, in response to the financial crisis, prevention and control of financial risks and exploration of financial integrated management will have a bright
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