financeleaseinchinaturningchallenge(ppt51)-經(jīng)營(yíng)管理(完整版)
【正文】 ?Need funds ?Lack expertise ?Have a proven need for assistance in marketing services. ?Financing ?Technical knowhow ? business services October 1999 XIN DE TELECOM 33 What does SPL mean for them? ? Outside investors Not allowed equity in Chinese work operators. ? Equipment vendors Want to participate in China’s tele expansion. Want acceptable payment term. ? Operators Need funds for work rollout expansion Lack expertise in new technologies Have a proven need for assistance in marketing services. October 1999 XIN DE TELECOM 34 Capital funds ? Project Sponsors ? Major Suppliers ? International Equity Investment Fund: Tele Hitec Infrastructure Fund ? Project Finance Lender ? Strategic Investors ? Debt and Equity Capital Market October 1999 XIN DE TELECOM 35 Projects ? Migration away from a generalist approach and focus on specialty markets. ? For Xin De Tele, it is limited to Hitech, Telemunication sector. October 1999 XIN DE TELECOM 36 Resource ? Resource intensive for the level of risk and investors requirements. ? Professionals in engineering, information, sales amp。 Lender (1) (2) Lessee Lessor October 1999 XIN DE TELECOM 5 Multiple Contracts (1) Master Finance Lease Contract between lessor and lessee. (2) Purchase Contracts between lessor and suppliers based on lessee’s decision. (3) Capital funds Loan at LIBOR + a Lease at LIBOR + b (4) Guarantee. October 1999 XIN DE TELECOM 6 Applicable Scope ? A wellestablished operator or corporate entity. ? Purchasing equipment for the expansion of its operations. ? Lease obligation is supported by other profitable businesses. ? Guarantee usually required. October 1999 XIN DE TELECOM 7 Great Achievement in China ? Start point: 1981. ? 41 JV panies. ? Raised capital funds US$ 7 billion, at the end of 1998. ? Foreign investor Majority from Japan, and all industrialized countries and regions. ? Indust
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