First Bad Assets Leases Signed in DalianChina Great Wall Assets Management Co. signed assets lease agreements with 15 investors Thursday in Dalian. The lease is valued at 76.436 million yuan, and the contract rent is 16.401 million yuan, including a value of 16 million yuan, which is related to individual lease.This has not only marked the launching of a new method for disposing of bad assets since the transformation of debts into stock shares, enterprise restructure, and assets auction were introduced, but has also set a precedence of involving civil capital into bad financial assets disposal. The main task of Great Wall Assets Management Corporation is to buy out, manage, and dispose of the bad assets separated from Bank of Agriculture. Since the loan of the bank is concerned with many industries and separate debtors, the assets being small in value and difficult to cash, Great Wall Co. has after two months' study decided to make a trial lease in Dalian, adopting installment payment with the longest leasing period of six years and the shortest of one year. The first batch of leases has generated a rent of 3.993 million yuan, in which 12 individual investors account for 80% in numbers of investors and 96% in investment value. |
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