Coal Mines Become Mine Field for Trust Companies; CCT Steps on Another Mine

A ¥1.3 billion trust from CCT matures on July 25 and maturity may be extended. This was one of the trusts listed by ZeroHedge back in February: The Chinese Dominoes Are About To Fall: Complete List Of Upcoming Trust Defaults
25 Jul 2014, Rmb1.3bn borrowed by Xinbeifang & arranged by China Credit Trust

Details: Xinbeifang is another Shanxi coal miner.
Potential outcome: repayment may be extended.
Reason: Xinbeifang is negotiating with an SOE to sell some of its coal mine assets.
Xin Beifang is translated by Google as "New North Group."

煤矿成信托"雷区" 中诚信托再次陷入兑付危机
Credit Trust earlier this year when the deep 3 billion yuan cash crisis event if still present, only half the time, CCT again in crisis, "Jin Cheng to open the 2nd" Perhaps in turn delayed payment. The "2" the "step on mine," the same is also involved in mining products, the industry because of this incident once again set off a rigid payment is broken discussion.

A new round of crisis

Recently, the China Credit Trust issued "interim report 2011 · Cheng Cheng to open the 2nd set of gold trust scheme" (hereinafter referred to as "interim report"). "Interim report" to make special risk warning on the principal and the beneficiary, given the current coal market remains in the doldrums, the new company under the five northern mines resume production integration and technological upgrading work has not been completed, business difficulties, Jiao Jindong, Jiao Jinzhu, Wang Caixia, Shanxi New North Group Co., Ltd. Tianjin Jindong mineral sales did not turn up to pay maintenance fees equity and equity transfer price, the trust property in the July 25, 2014 to complete the disposal and realization of uncertainty, the trust scheme may be postponed.

CCT can be seen in the official website, the trust products on July 26, 2011 formally established plan in July 25, 2014 expiration. Raised reached 1.3 billion yuan, is expected annualized rate of return of 10.5%.

Although insiders predict the crisis might take a similar approach with early to save, but it Caixin reported that sources close to Credit Trust has said that the crisis of the "2" and "1" different. Prior to this, "1", when given in the window will not break the rigid views emphasize the unspoken rules of honor from this hole 3.0 billion, "2", however different, are advocates a multi-market approach to resolve.

Yesterday, the Morning News reporters Lian Jizhong and Cheng Xintuo, its customer service to corporate customers instead refused to disclose relevant developments, and would like to contact the reporter interviewed the relevant departments of the intention to clear the grounds of its direct refusal.
"Press gourd dipper float"

CCT past six months it should be a "press gourd dipper float" the old saying, just press the early payment of 3 billion yuan, "gourd", year and $ 1.3 billion float of the "scoop."

It is reported that China Credit Trust launched the "2010 Cheng & Cheng to open the 1st set of gold trust scheme" in 2010, the expiration time for this year's program on January 31. Issued after the project, there have been adverse news. Financing Fangzhen Fu Energy Vice Chairman Wang Pingyan suspicion of illegal deposits from the public XingJu; name mines shut down, hard-core assets short-term realizable; company has not made payments in accordance with the requirements of product design and other news let investors jittery.

When the industry was still guessing the outcome of an event, "Kim Cheng to open on the 1st," eventually got a clear outcome - found a mysterious funds fallback. But as the above said persons close to CCT, perhaps not every crisis can be so lucky.

In fact, the year after "to Jin Cheng No. 1" again raised great concern of one billion yuan Jilin Trust payment crisis is not resolved.

According to reports, Yoshinobu · Songhua River Trust 77 Products Total 6, the total size of 972.7 million yuan. Where a scale of 244.9 million yuan; two scale 139.5 million yuan; three scale 089.4 million yuan; four on a scale of 289 million yuan; five on a scale of 109 million yuan; six Scale 1 billion. "Unfortunately," is the product of all six overdue, has not yet been cashed.

"Rigid honor" always break

The face of this year's cash crisis-prone, developing trust industry is experiencing a bottleneck? Credit Trust, Jilin Trust successive payment crisis erupted, will break the "rigid honor," the unspoken rules? In this regard, Morning News reporters Zuo Ricai and Fang Liaoyong Trust chief analyst Li Yang Yi, his interpretation is much more obvious to be calm, that there was no need to panic too much, not to read too much.

Li Yang pointed out that frequent cash crisis this year, mainly related to the economic environment, after all, after the fall of rapid economic development, the impact of the coal industry is emerging, while liquidity is one of them, which is in the Prudential Trust, Jilin trust crisis after another main reason for the emergence of cashing Moreover, there is the risk of these investments themselves, faced with unpredictability is greater.

At the same time, the rapid development of the trust industry itself has accumulated a lot of questions, and after a slowdown, if there are problems, it will be quickly amplified. From the perspective of public data Trusts Association, little change in the proportion of trust products, economic structure adjustment, have an impact on certain industries also normal.

From the current point of view of the industry, Li Yang believes that the problem still occurs only in real estate, coal and a few other industries, the occurrence of systemic risk may be small, so investors do not have to worry too much. As rigid payment, Li Yang believes that there is actually broken before, but did not disclose it, or have a correct understanding of this rigidity payment is not "umbrella", will one day be broken.

No comments:

Post a Comment