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By June 30, 2007, it is 371.47 billion yuan that COAMC possesses the book value of various NPLs. Among them, remaining policy-purchased asset of creditor's right is 34.74 billion yuan, entrusted asset of creditor's right is 137.9 billion yuan, commercial purchased asset of creditor's right is 198.83 billion yuan, the remaining debt-equity swap policy asset is 18.5 billion yuan.
Main business as following:
1. Commercial Purchasing: Purchase solder’s assets through market operation, manage and dispose the assets, finally realize recovery.
2. Added-Investment: To have improving the value of recovery as a goal, invest to collateral assets acquired as NPLs.
3. Debt-to-equity Swap: Through legal procedure swap debt into equity of the debtor’s company, and share the capital returns and shareholder’s rights.
4. Debt Recourse: Collect debt from debtors (enterprises) directly.
5. Asset Assignment/Sale: Sell the holding equities, physical assets and other assets to certain unit directly.
6. Debt Payment in Physical Assets: Pay the debt with physical assets under the agreement or legal procedure by the debtor, guarantors or a third party.
7. Debt Restructuring: Change former loan contract to spur the debtors to repay the rest of the liabilities on time, such as modify the terms of loan,reschedule payment term, excuse certain portion of the capital and interest of the debt.
8. Asset Replacement: Exchange the holding equities, physical assets and other assets with those legal assets held by other units, aiming to promote total disposal.
9. Auction: Carry out open bids and auctions of the holding equities, physical assets and other assets.
10. Leasing: Lease the holding equities, physical assets and other assets to the public or particular entities directly.
11. Asset Trusteeship: Entrust, by signing the trust management agreement, debt or equity assets to particular organizations to preserve and increase the value of the assets.
12. Bankruptcy and liquidation: Apply bankruptcy and liquidation to debtors and guarantors whose financial statuses are desperate, and get recovery from the asset liquidation. |
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Through debt restructuring, Bangxin Investment Management Company, one of the subsidiaries of COAMC, successfully became a shareholder of hi-tech companies such as Hunan Boyun Dongfang Powder Metallurgy Co. Ltd.
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