financeleaseinchinaturningchallenge(ppt51)-經(jīng)營管理(存儲版)
【正文】 struction contract. ? Capital injection period and payback period: Conventional in series SPL model with overlap. October 1999 XIN DE TELECOM 22 Annual Capital Funds Requirements 0204060801001201401 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16October 1999 XIN DE TELECOM 23 Calculation Basis ? Define business result basis ? Measurable amp。 Objective agreedupon in detail ? Could be a percentage of: sales, gross margin on sales, ine, operating cash flow October 1999 XIN DE TELECOM 24 Business Result 010020030040050060070080090010001 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16October 1999 XIN DE TELECOM 25 The Cash Flow Between Lessor and Lessee 0501001502002501996 1997 1998 1999 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020N e w I n v e s t m e n tR e i n v e s t m e n tA n n u a l R e n tEnd of Payback Period October 1999 XIN DE TELECOM 26 Payback Period ? Time required to repay principal amount + accrual interest. ? Begins with first capital injection. ? Rent payment is based on lease project performance. ? Lender bears project performance risk. October 1999 XIN DE TELECOM 27 Discount Formula ( 1 + i ) Where， A = Outstanding principal retired by V。 rent. ? Strict credit assessment. ? Amount of lease principal is limited. ? Limited to well established operators. ? Limited to single equipment units. October 1999 XIN DE TELECOM 9 2, The Leasing Cycle Finance leases Flexible/creative finance leases Operating lease Innovative leases Maturity October 1999 XIN DE TELECOM 10 The Finance Lease Basics ? Customer (Lessee) is using Lease to finance 100% of a fixed asset ? Lease Company (Lessor) is paying 100% of the costs of the fixed asset, so retains title until end of the lease. ? The Lease transfers substantially all risks and rewards incident to ownership of an asset . October 1999 XIN DE TELECOM 11 The Basics (cont.) ? The Lease is noncancelable. ? At end of Lease, the title is transferred to Lessee at symboli
黨政相關(guān)相關(guān)推薦
鄂ICP備17016276號-1