EG :: Volume #17

#1697: Minute service( sought subscription)

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„Pahrump, according to our beforehand agreements, Land Rover is your Tata Motors, a factory in North America is also your, this you select first, according to the contract amount investment, simultaneously shoulders the corresponding debt.” Feng Yu very natural saying. “帕朗吉,按照我们之前的约定,陆虎是你们塔塔汽车的,北美的一家工厂也是你们的,这个你先挑,按照合同金额出资,同时背负相应的债务。”冯宇很大方的说道。 Pahrump some were not quite actually happy that he also wants fertile and fertile, however the matter of purchase, is the Wind & Rain Holding Company group is managing completely, and what disburses money is China xx invests Corporation, apportioned their Land Rover is very good, let alone factory in North America, but also made them select first. 帕朗吉其实有些不太高兴,他还想要沃而沃呢,但是收购的事儿,全部是风雨控股集团在主持,并且出钱的是华夏xx投资公司,分给他们一个陆虎已经是很不错了,更何况北美的工厂,还让他们先挑呢。 Is good also knows because of him that with using that side is not did not discuss, but suspends first, is equal to becomes with that side goes down in the world, then negotiates, turns head Tata Motors to obtain 1-2 good passenger vehicle brands. 好在他也知道,同用那边不是不谈了,而是先暂停,等同用那边变得更加落魄的时候,再进行谈判,回头塔塔汽车还是能得到一两个不错的轿车品牌的。 „We want this.” Pahrump works on a document, is in these three factories, largest, but is not the position is best, now but Tata Motors wants is the expansion. “那我们就要这个吧。”帕朗吉抓起一份文件,是这三家工厂中,规模最大的,但并不是位置最好的,不过塔塔汽车现在要的就是扩大规模。 „Ok, then the Jie leopard turns over to us, will turn head to sell to the Bing City Machinery manufacture group. Xu Zong, Shanghai with using stockholder's rights you wanted, then often the peaceful Ford stockholder's rights you also do want? Is fertile and fertile, you determined that all wanted?” “可以,那么婕豹归我们,回头会卖给冰城机械制造集团。徐总,魔都同用的股权这个你们要了,那么常安富特的股权你们是否也要？还有沃而沃,你们确定全要了吗？” „The joint capital Corporation stockholder's rights, we all wanted, fertile and fertile also determined that all wanted, but can let a factory to you. North America reached an agreement we also to have a factory was right, we wanted this to be good.” “合资公司的股权,我们全要了,沃而沃也确定全要了,但是可以让出来一家工厂给你。北美这边说好了我们也有一家工厂对吧,我们要这家好了。” Xu Zong also gratefully said own condition, or is above studies the good condition, naturally is ahead of time has also discussed with Feng Yu. 徐总也毫不客气的说出了自己的条件,或者说是上头研究好的条件,当然也是提前跟冯宇商量过。 „Good, then we defer to agreement, invests to establish asset management Corporation, then reorganizes these properties, the bad assets strip, we undertake in proportion.” “好,那么我们按照约定,出资成立资产管理公司,然后将这些资产进行重组,不良资产剥离出来,咱们按比例承担。” The meaning of Ralph, is bad assets that side debt, sells outright directly. Also is disposable pays off the debt, the surplus workers and others gave the compensatory payment to sell outright the contract directly, then some Corporation can cancel directly. 拉尔夫的意思,是不良资产那边的负债,直接买断。也就是一次性将债务还清,剩余的工人等直接给予补偿金买断合同,然后一些公司就可以直接注销了。 Tata Motors thinks that does not sell outright cost-effective/worthwhile directly, although the later every year must pay some interest for these debts, but can actually ease the present fund pressure, making them not need to invest that much money all of a sudden. 塔塔汽车则认为直接买断不划算,虽然以后每年要为这些债务支付一些利息,但是却能够缓解现在的资金压力,让他们不用一下子投资那么多钱。 National capital does not matter, they are now rich, sell outright also to give, but are few some money, then the economical these money will take away the investment to make money also very well. 国资方面则无所谓,他们现在有钱,买断也给得起,但是少出一些钱,然后将节省的这些钱拿去投资赚钱也挺好。 However they also understand that now the economic situation surface is good, but the influence of sub-prime loan crisis appeared, small real estate finance Corporation did not go bankrupt, then the economic situation, might develop rapidly after a sudden turn very much, they may not have the confidence also to guarantee that at this time the investment made money. 但是他们也明白,现在经济形势表面良好,但是次贷危机的影响已经出现了,许多小的房地产金融公司不都破产了么,那么经济形势,很有可能急转直下,他们可没有信心在这个时候还能保证投资赚钱。 Generally this big fund investment, will choose some long-line safe investments, for example blue chip stock, for example high-quality long-term bond, for example high-quality fund wait / etc.. 一般这种大笔资金投资,都会选择一些长线的稳妥投资,比如蓝筹股,比如优质长期债券,比如优质基金等等。 As for the investment futures market, this risk too big investment, the national capital does not do generally. They have done only also invests the gold, does not dare to use over two times of financial leverage, is not for fear that careful, loses money a big pen, this responsibility no one can carry. 至于投资期货市场,这种风险太大的投资,一般国资是不做的。他们唯一做过的也就是投资黄金,根本不敢用超过两倍的杠杆,生怕一个不小心,亏损一大笔,这个责任谁都背不起。 Although the gold has been rising for these years, but also has falling time. National capital here level is ordinary, generally speaking earns many, are fortunately few, but has to owe. 黄金虽然这几年一直在上涨,但是也不是没有下跌的时候。国资这边水平一般,总体来说还是赚得多,亏得少,但并不是没有亏过。 They currently have another idea, that is the same with moving eastern Corporation, buys the fund bond of Taihua Consulting release, the income is good, but also is very safe. 他们现在有另外一个想法,那就是跟移东公司一样,买泰华咨询发行的基金债券,收益不错,还很稳妥。 However some people opposed that thinks the Taihua Consulting bond has an income sector, is ensure you have the minimum many incomes, but high also these many. Even if this project gains are more, but will not apportion you again. 但是有一些人反对,认为泰华咨询的债券有一个收益区间,就是保证你有最低的多少收益,但是最高也就这么多。即使这个项目赚的更多,但是也不会再分给你。 This to the person one type has possibly owed the feeling, making many people very not happy. Must say that the direct trust gives Taihua Consulting, they have the worry, thought that did not feel relieved, the commission proportion that another Taihua Consulting receives is too high, Taihua Consulting registers unexpectedly in Hong Kong, what adopts is the commission consultation system. 这给人一种很可能亏了的感觉,让许多人非常不痛快。要说直接托管给泰华咨询,他们又有顾虑,一个是觉得不太放心,另外一个泰华咨询收的佣金比例太高,泰华咨询竟然注册地是在香江,采取的是佣金协商制。 In other words, they by the commission quota restraint of mainland, cannot decide unusual is high, can decide unusual is low. The home may in a sector, unable to surpass this sector, cannot be lower than this sector. 也就是说,他们不受内地的佣金限额约束,可以定的非常高,也可以定的非常低。国内可都是在一个区间内,不能超过这个区间,也不能低于这个区间。 Feng Yu already knows that mainland will have these limits, therefore already had also made the preparation. In any case Hong Kong is also China, who can also say what inadequate? 冯宇早就知道内地会有这些限制,所以也早就做了准备。反正香江也是华夏的,谁还能说出来什么不成？ Several the ways of processing bad assets have the merit, has the shortcoming, looked how to suit own development how to elect. 几种处理不良资产的方式都有优点,也都有缺点,看怎么适合自身的发展怎么选。 Feng Yu told Ralph, actually sold outright these bad assets all of a sudden, they could not have achieved, that side the Taihua holding did not have money, the fund was reassigned in the money market by Feng Yu, although much money in account, but cannot move. 冯宇告诉拉尔夫,其实一下子买断这些不良资产,他们还真做不到,泰华控股那边也没钱,资金都被冯宇抽调到金融市场上了,许多钱虽然在账上,但是不能动。 Therefore they decide to adopt another means that that bad assets securitization. Any meaning, is these bad assets take-out, the release negotiable securities sells. Then with this sum of money, can sell outright the bad assets. 于是他们决定采取另外一种办法,那就是将不良资产证券化。什么意思呢,就是这些不良资产打包,发行证券卖出去。然后用这笔钱,就能将不良资产买断了。 Also has another way, Morgan Stanley and other big bank , etc., is the master who processes these bad assets, can sell to them these bad assets direct take-out. 或者还有另外一种方式,摩根仕丹利等大的银行等,也是处理这些不良资产的高手,可以将这些不良资产直接打包卖给他们。 The bad assets securitization, this is also at the fumble condition in China, but also attempts in some pilots merely, the words of domestic operation, are troublesome, they will process fortunately externally complete. 不良资产证券化,这个在华夏还处于摸索状态,还仅仅是在一些试点进行尝试,国内操作的话,非常麻烦,还好他们会在国外处理完成。 The Pahrump lucky team calculated the fund that they should pay quickly, he went with the group Corporation report, was discussing hit the funds the matter. 帕朗吉的团队很快核算好他们应该付出的资金了,他去跟集团公司汇报,商量着打款的事情。 Xu Zong mystical low voice said at this time: „Chief Feng, these bad assets, our national capital prepares to buy.” 徐总这时候神神秘秘的小声说道:“冯总,这些不良资产,我们国资准备买下来。” Feng Yu very surprise looks at Xu Zong, the domestic bad assets securitization is also at the beginning stage, do they plan to process? 冯宇很诧异的看着徐总,国内的不良资产证券化还处于萌芽阶段的,他们打算怎么处理？ The bad assets processed, truly possibly made money, but if processing were not good, not only need build money, but may also form a giant burden. 不良资产处理好了,确实可能赚钱,但是如果处理不好,不但要搭钱,还有可能会形成一个巨大的累赘。 Xu Zong sees the Feng Yu doubts expression, explained: „Chief Feng, initially you continued to the Bing City Machinery manufacture group capital time, has the agreement with above, if, can accept the Bing City Government stockholder's rights to increase according to the certain proportion when necessary right?” 徐总看到冯宇疑惑的表情,解释道:“冯总,当初你继续对冰城机械制造集团注资的时候,跟上头有过约定,如果在必要的时候,可以接受冰城政斧的股权按照一定比例增加对吧？” Feng Yu is selecting the eyebrow: „Are you plan debt transfer shares of stock?” 冯宇挑着眉毛:“你们是打算债转股？” The debt transfers shares of stock, transfers the stock debt, this measure, started to attempt in the late 80's, about 98 years were in vogue in the soe reform. 债转股,就是将债务转为股份,这种处理办法,早在八十年代末就开始尝试了,98年左右更是在国企改制中非常盛行。 Initially Feng Yu diluted the Bing City Government stockholder's rights, diluted including the Fu Guangzheng stockholder's rights much. Afterward according to the contract promise, Fu Guangzheng supplemented the investment, pulled back the equity ratio 16%. 当初冯宇将冰城政斧的股权稀释了很多,包括付光正的股权也稀释了不少。后来按照合同约定,付光正追加了投资,将股权比例重新拉回到了16。 But Bing City Government also supplemented some investments, pulls back the equity ratio, but did not have initially that many. Now might as well the Fu Guangzheng equity ratio is high. 而冰城政斧虽然也追加了一些投资,将股权比例拉回一些,但远没有当初那么多。现在还不如付光正的股权比例高呢。 Bing City Government cannot put out to bring in money, but above, after a simple operation, restores the equity ratio in the name of Bing City Government, then paid off a debt in labor to some capital on the line. 冰城政斧拿不出来钱,但是上头可以啊,经过一个简单的操作,以冰城政斧的名义恢复股权比例,然后再抵债给某国资就行了。 „Chief Feng, spread out long said that this was you initially complied.” Xu Ruoruo saying. “冯总,张布长说这个是你当初答应了的。”徐弱弱的说道。 This change, do I need to renege on a promise? Again what kind, Taihua Holding Group is still the holding side. 嘁,这点小钱儿,我需要反悔吗？再怎么样,泰华控股集团依然是控股方。 „Does not have the issue, turns head you to speak in detail with Zong Qingxian.” “没问题,回头你跟宗庆先详谈吧。” ......( To be continued.) ……(未完待续。)
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