The Floral Trust Instant Shunde project finalizes the property disposal plan. Some investors say "a stone finally landed"

25JUN

Wen | Wu Shan Yu Junyi

The trust agency "personally entered the battle" to deal with the Evergrande real estate project, focusing on reducing the risk of losses and resolving, and becoming an important force behind the construction of many places. On June 24th, the reporter of the Securities Daily was exclusively informed that after the completion of the "Dentalization of Evergrande" of the Ministry of Field Trust, the Trust -related project was successfully finalized. Accept "answer sheet". Since the second half of 2021, the Ministry of Field Trust has determined that the property disposal plan has exposed liquidity risks in the second half of 2021. It has successively appeared in negative events such as overdue business tickets, project shutdown, and debt defaults. The property security of some trust companies has also faced severe challenges. In this context, at the end of last year, the Everbright Trust, Minmetals Trust, AVIC Trust and other institutions successively took over the projects of Evergrande in Foshan, Dongguan, Chongqing and other places. It is reported that the Shunde Real Estate project of the Ministry of Field Trust "stepped on Thunder" has identified the trust property disposal plan. If the handling plan is implemented, the beneficiary expects the total amount of trust interests will not be less than 98.9%of the trust scale. After the Evergrande Shunde project expired, in the face of the property disposal plan for the cost of 1.1%of the principal, most investors said that although they were unwilling, considering the special circumstances of the real estate market and Evergrande, they were willing to understand and accept the plan. "I have been very nervous after Evergrande's problems last year, and pay attention to the progress of the project. Later, the media reported that the Ministry of Field Trust acquired all the equity of the project and was a little solid in my heart. Now there is a solution. But overall better than expected, a stone finally landed. "An investor in the project expressed to reporters. It is understood that in 2020, Minmetals Trust has established the Minmetals Trust Trust to the Foshan Shunde District Yingde Qin Real Estate Development Co., Ltd. (hereinafter referred to as "Yingqin Real Estate") No more than 3.3 billion yuan. The funds were used for the development and construction of the Foshan Fengsha project and returning the initial investment of the shareholders. The Minmetals Trust was transferred to Yingqin Real Estate 51%of the equity before lending. However, with Evergrande's "thunderstorm", the above projects are in trouble. In January of this year, the Ministry of Five Mine Trust undertaked 49%of Yingqin Real Estate held by the shareholders of Evergrande's shareholders through partial transfer of property rights trusts, and realized 100%of Yingqin Real Estate's shareholding and managed the project alone. To the Minmetals Trust, as the trustees of the project, the Minmetals Trust has always fulfilled their duties to maintain the legal interests of the beneficiary as the primary goal. The company's management and control rights protect the security of trust property to the greatest extent. Facing the complex market situation, there is a large uncertainty in the continuous operation of the project. The company insists on exploring the risk resolution path of legalization and marketization, actively promotes the transfer of the project's rights and interests, and strives to complete the realization of trust property within the trust period. "At present, the property disposal plan given to the Ministry of Field Trust can be said to be a useful attempt to resolve the risk resolution of the real estate trust project, especially in the current complex economic and financial environment." Show. A professional in the industry told reporters that the real estate market is still downturn at this stage, and the risk of disposal of real estate projects requires a long time. In order to return the principal as soon as possible, institutions and investors can accept a small principal loss. Market -oriented disposal plan. The "receiving" risk project is mostly helpless. With the liquidity risk of some housing companies, many trust institutions have taken the initiative to enter the venue and choose the "pick -up" risk project. Some people in the industry said that this is a helpless move. Because there is a risk of liquidity in the real estate project, if the other party with abundant funds will not help, the subsequent construction of the project will fall into stagnation, resulting in expansion of risks, causing companies and investors to suffer losses. The above -mentioned industry people believe that as far as the trust company itself is concerned, there is lack of sufficient construction and management capabilities, and the number of real estate risk projects is more to ensure the safety of the project itself and facilitate the risk of project risks. Trust companies are more suitable for handling and resolving project risks by using financial methods such as debt reorganization. It is rare to directly participate in real estate project construction. At the same time, many housing -related project trust plans are about to expire this year. According to the research report released by Moody's, the trust assets directly related to the real estate will be expired at the nine months of 2022. As the CBRC puts forward more stringent requirements for channel trust products, the amount of redemption may also surge in advance. In addition, investors have risk aversion to the current credit crisis of the real estate industry, which may affect the ability of the trust company to issue a new trust plan to replace the expiration plan. Fill with your own funds. The disposal of real estate default trust projects is a major problem facing some trust companies. Shuai Guorang believes that under the new economic and financial environment, especially under the new regulations of asset management, in addition to traditional methods (litigation recovery, early termination, extension of redemption) in terms of risk disposal, future trust companies will pass the withs of the trust industry and financial assets The management company and local asset management companies cooperate with professional institutions to take market -oriented means to resolve risks, which may be another important choice.

"The current real estate industry is adjusted as a whole. Therefore, trust companies should strengthen information disclosure transparency and publish project announcements to investors in a timely manner. In addition, the trustee should also perform due diligence in project management and project risk management and control to effectively protect investors' rights and interests, Try to obtain investor recognition and understanding. "The industry insiders suggested.Recommended reading

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Photo ｜ Site Cool Hero Bao Map Network Production | Zhou Wenrui

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