Zhou Tian Bao dream car is being awakened. CBRC warning of a risk of paper documents so that people bigger surprise: The capital of the player's "car Kingdom" is just rolling in the assets pledged to build up, and local governments in the heap snowball game, as players were the best co-operation of capital partners. It is because of extensive government contacts, "state-owned money, private enterprises work" model will often operate in the weeks to reproduce the capital Tempo, and has been very cautious in lending to private enterprises were state-owned banks, in the "Tempo line "on the show generosity, we should also investigate the underlying causes.
Early December, many of Banking Board and the banking system have received a report on the "warning 'Tempo series' credit risk," the document, the document said, "Tempo system," its 50 affiliates to form a total non-performing loans and overdue loans 32.86 billion, involving 47 banks.
The CBRC issued the last time a similar risk warning document, attracting enormous attention, or 2004, "Drilon system" that crash.
"Tempo, Department of" actual control Zhou Tian Bao is the sort of person? Carefully will find that on November 29, Zhou Tian Bao just announced the acquisition of a high profile in Detroit, GM's U.S. car giant focuses on automotive steering systems business NEXTEER companies, warning document issued, Zhou Tian Bao in the United States.
December 9, this reporter learned exclusively, "Tempo, Department of" core assets - Northern Thai Automotive Industry Co., Ltd. ("the North Motors"), the legal representative Xu Chaoyang, chief financial officer and a financial officer Chen Xiangdong, a executives back in July 2010 on suspicion of "obtaining credit" being held in Beijing.
A risk warning CBRC makes weekly Tempo paper single-handedly built the system, including Albert, silver pass system, Norstar system, the smooth lines, constant total of 50 giant companies, Department of the "Tempo series" "Auto Kingdom" enterprise group at the edge of collapse.
Various case-ridden North Motors executives XingJu
Hongda North Road, Beijing Economic and Technological Development Zone No. 10 is Norstar Founders (2339.HK) core assets Norstar's car production base in Beijing, this reporter saw Simon at the base, broken beer bottles scattered on the , the security booth was empty, through the iron fence, you can see part of the northern Thai automobile production plant, Dec. 9 at 3 o'clock, the reporter saw the west side of the workshop near the company actually empty.
"Simon has been shut for a long time, and we are now out from the main entrance." Thailand from the north gate out of the car is a staff member told reporters that the plant has half the staff resigned in August 2010 has not paid the wages to hands.
Motors claims in the North, a five to six employees work told reporters: Xu Zhaoyang legal representative of the company, Chief Financial Officer Xiangdong as well as a financial officer and an executive as early as July 2010 was the police control, "do not know What may be related with the loans, "the employee also confirmed to reporters the" half-staff to resign in August has yet to issue wage "argument," the rest of the employees compensation in other companies, the company now only enough orders maintained until the end of December this year. "
Thai automotive journalists at the North entrance of the factory waiting to 17:30, only to see several people have been piecemeal out of the factory gate, according to the aforementioned employee representation, and their work time is 5 PM. "The company mainly produces automotive shock absorbers and axle (the axle tire connection), the current bridge has been basically discontinued, still in the production of shock absorbers from Beijing Benz - Daimler Chrysler Automotive Co., Ltd. Under the order, is expected to be completed by the end of December, after new orders have is hard to say. "
The information reporter after another out of the factory gates at the mouth of the employees confirmed. Press office building in the factory to see dozens of office only a door, the whole building deserted.
According to statistics, Norstar Norstar Founders cars, one of the core assets, which is registered in the Cayman Islands, is a typical offshore company, the actual control of Zhou Tian Bao. October 2003, Norstar Founders landed in Hong Kong Stock Exchange, January 16, 2009, by the financial crisis, burdened by $ 24,000,000 loss on foreign exchange contracts and partners to 326.6 million yuan recourse debt initiative for provisional Norstar Founders winding up, the resulting suspension Norstar Founders, suspension price was 0.73 dollars, suspended for 919 million Hong Kong dollars while the total market capitalization.
In addition to the Beijing production base, Norstar Automotive High-tech Zone of Bengbu City in Anhui Province, also has called the "Northern Thai Auto Parts Industrial Park," the production base, "it inside the (North Thailand Auto Parts Industrial Park) and Norstar are many related businesses, Automotive Chassis Systems of Northern Thailand (Anhui) Co., Ltd., North Thailand shock absorber (Anhui) Co., Ltd., Anhui Bengbu Norstar Automobile Co., Ltd. Branch Company. "December 9, Bengbu City, a work of Hi-tech Zone told the "China Business" reporter.
Reporter from Bengbu City of Industry, queries to the information: North Motors Bengbu Branch was established in August 11, 2000, under the Beijing Automotive Industry Co., Ltd. Northern Thailand, a total investment of 80 million yuan and registered capital of 44 million yuan, of which Investors Industry & Trade Corporation China Anhui (in production equipment, plant, production technology investment 19,800,000 yuan, accounting for 45%), foreign, Hong Kong Pacific Industrial Holdings Limited (cash invested 24.2 million yuan, accounting for 55%) legal representative Zhou Tian Bao. Its 2005 operating income of 48.268 million yuan, but the net profit actually 15.6 million.
In addition to the aforementioned foreign exchange contracts Norstar Founders deep loss, partners of recourse debt, the newspaper reporter also from the Beijing First Intermediate People's Court was informed that the December 8, 2009, the court heard and Norstar are the two vehicle-related from the loan contract dispute, one of the Northern Zhou Tian Bao Motors Albert corporate guarantee of another's enterprise, involving an amount of 8,000 million; the other car to the northern Thai branch of China Merchants Bank, the first body of overdue loans to 50 million yuan.
Disaster loans from the association
As mentioned before the credit crisis in North Thailand car just bogged down, "Tempo series" Crisis in the tip of the iceberg.
Early December 2010, around the Banking Bureau under the China Banking Regulatory Commission and the banking system issued a report on "Alert 'Tempo series' credit risk," the file, the file called "Tempo line" its a total of 50 affiliates and the formation of non-performing loans 3.286 billion yuan of overdue loans, involving 47 banks.
The "Tempo series" enterprise group received a total of 16.066 billion yuan for the bank credit line, loan balance of 5.676 billion yuan, which means, "Tempo, Department of" corporate group now total loans was 103.9 billion, of which the formation of non-performing loans and past due loans to 3.286 billion yuan, accounting for 35.47% of total loans. According to the China Banking Regulatory Commission documents, "Tempo line" contains a total of 50 enterprises, with total assets of 132.619 billion yuan, total liabilities of 63.937 billion yuan, assets and liabilities was 48.21%, most of these enterprises in Beijing, Shanghai, Tianjin, Bengbu, Shenyang, Changchun and other places.
"Similar warnings have appeared before the risk, but there have been several years there have been no such a big fuss, and 'Tempo system' is comparable to alert the attention received in 2004 'Deron Line' when that collapse." One digital assets of a bank guarantee from all responsible person said that under normal circumstances, this warning files are the official paper documents with a seal, issued directly to the financial institutions involved, "a confidential document, rarely by the media informed. "
According to media reports, the "Tempo line" credit alert began in the summer of 2010 the National Audit Office of the Bank's regular review. Review found that "Tempo system," there are a lot of related group companies and loan guarantees, and reporting. Subsequently, the China Banking Regulatory Commission by querying its National Early Warning System-generated customer risk associated with groups found in the "Tempo system" in the major bank loan data, and an urgent meeting of nine self-examination jurisdiction of the Banking Board meeting to request control of the Banking Board check out the risk early warning system for banks to verify the data and alerts. According to the alert file, "Tempo system" within a group affiliate group of the total guarantee amount of 2.564 billion yuan, of which the two companies within the group guarantee each other the amount of 876 million yuan, accounting for the total guarantee amount within the group of 34.18%. For the group to provide security in the amount of overdue loans reached 1.166 billion yuan, accounting for the total guarantee amount within the group of 45.46%, the part of the security involved in the group of overdue loans accounted for 20.54% of total loans. For the group to provide security in the amount of non-performing loans 21.39 billion yuan, accounting group in the total amount being 3.42%. The documents also show: "Tempo system" associated enterprise group involved in credit lines and loans totaling 47 lines, the largest lender China Construction Bank Shanghai branch base amount of 631 million yuan in loans, accounting for 11.12% of total loans, the largest credit Behavior Construction Bank Beijing Branch, to provide credit for the group of 1.66 billion yuan, accounting for 10.33% of total credit.
According to informed sources, the previously mentioned legal representative of the northern Thai automotive Xu Zhaoyang, chief financial officer and a financial officer Chen Xiangdong, a senior police control and the "Tempo system" directly related to the credit alert, "involving financial crime, Apart from 'Tempo' association executives, but also including two bank credit managers. "
Informed sources confirmed to reporters this statement: Xu Zhaoyang and Xiangdong XingJu was the end of July 2010, on suspicion of "obtaining credit", now being held in Beijing.
Tempo "car empire" collapse soon?
"We alerted the file to start the asset preservation at the same time, companies have rushed to the location involved, seizure of assets and other assets preservation action." Banking sources who asked not to be named, said.
At this point the U.S. is still the weekly Tempo Detroit to continue his "car empire" working hard.
November 29, 2010, the Beijing Yizhuang International Investment Joint Development Co., Ltd. (hereinafter referred to as "Serious International") of the weekly Tempo, the new company set up Pacific Century price of 4.5 billion acquisition of U.S. auto giant GM's focus automotive steering systems business NEXTEER company.
In the preceding June 2010, Zhou Tian Bao also co Shougang Group, acquired by BeijingWest global automotive electronics and systems technology, Delphi's leading supplier of braking and suspension systems business and related assets.
"National banks are to seizure of assets, the weekly Tempo is right back to deal with the matter, it is impossible to restore, and including all upstream and downstream, including the 'Tempo series' related businesses, and Zhou Tian Bao will no longer deal with." Bengbu a local boss in auto parts production that, even if "Tempo system" is not so serious media coverage, nor the containment of the 47 banks survive the next block.
Zhou Tian Bao Serious and international partners recently at this juncture also chose silence.
December 8, the reporter in accordance with the Serious and international requirements, to the Beijing Economic and Technological Development Zone Administrative Committee sent a interview outline.
9 December, reporters came to the Serious and international offices in Beijing Yizhuang, but Yizhuang Economic and Technological Development Zone was announced that the Department of Work staff to "unable to contact the Serious and International" refused the interview. The Serious and international level also declined to respond.
"Tempo Group Finance imagine the outside world so there is no serious, relevant government agencies and financial institutions to give more time to the Tempo Group." Living in Detroit, "Tempo line" of a case through the media, executives said.
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