Friday, March 17, 2017

Daewoo Shipbuilding additional support to the banking sector review sokalyi

[Korea financial newspaper Choice reporters] as notice additional support for DSME fell into a liquidity crisis, national policy that has a large exposure (exposure amount) Bank Development Bank and Export-Import Bank, which have been commercially available to reduce the goddess worked on quality management It was feeling the burden to the bank.

17 days According to the Financial Services Commission, Korea Development Bank, the financial authorities are currently checking the self-help efforts around the main creditor of Daewoo Shipbuilding Bank, Industrial Bank, Daewoo Shipbuilding & Marine Engineering, orders and liquidity situation. Above bank financial industry is a "comprehensive review of the response measures for liquidity management normalization of Daewoo Shipbuilding.

The financial authorities are expected to announce next week a comprehensive daechaekan-related positions 2016 fiscal year closing out the results of DSME.

DSME is out of the swamp deficit for four consecutive years in 2013-2016. Last year, Daewoo Shipbuilding orders of even a mere $ 1.5 billion level. Here the Angolan state-owned oil company sonan goal is not going to lead the group for reasons drillship (Offshore) 2 order to Daewoo Shipbuilding financial difficulties do not receive payment W1tr.

The banking industry believes that additional funding eyes of influential review of the financial authorities around 3 trillion won for Daewoo Shipbuilding Moline to survive crossroads.

Daewoo Shipbuilding is now 21 days following the month in July to 440 billion won to 300 billion won to start and return the bond maturity of November 2000, respectively. This year 940 billion won and 550 billion won next year, including 1.5 trillion won bonds maturing after another scale pressure.

National bank, Industrial Bank and additional funding through the Export-Import Bank, commercial banks are likely to again receive also assistance to restore the expression of the credit limit subject to share the pain of stakeholders.

If you decide to add support elements are observed to be a big burden on the management of the Development Bank and the Export-Import Bank. Industrial Bank issued a maximum loss since the 1997 financial crisis last year. Export-Import Bank was established in 1976 after last year's deficit ever found for the first time.

Yidonggeol Development Bank President also stressed the meantime, let's try DSME has been revealed and the stance is "no longer put taxpayers' money."

Some observers have put the emphasis on the possibility workout (corporate restructuring operations). Daishin Securities analyst Jeffrey Choi predicted that "this would have been looked at was easy to convince sachaegwonja support measures to promote job confirmation 'saying' DSME finally determines the likelihood proceed more formal workout legally binding, rather than voluntary agreement larger.

If the banks are conditions that must be conducted to work out additional provisioning burden lower quality loans classified as substandard and below. Meanwhile, commercial banks have been reducing the size of loans to DSME. According to the financial industry, Daewoo Shipbuilding and Daewoo Shipbuilding loan balance of commercial bank creditors was announced late last month by approximately 2.7 trillion won.

But when there are two Daewoo Shipbuilding work out or put in a lower court looking at the possibility that foreign owners can embark row, take back the advance time. Daewoo Shipbuilding haneundedo the additional work orders with the 'normal' companies take a brake, a large down payment refund guarantee (RG) is mentioned lines is greater viscosity in the aftermath banks.

Financial authorities and creditors and stressed that "all possibilities are open." If you can not give assurances that the order situation improving in Daewoo Shipbuilding and regenerative load factor it is also confirmed additional support. If you put the past in 2015, considering the possibility of future orders, etc. I support the 4.2 trillion won another fund in three years, it is difficult to avoid critical public opinion.

Financial Services Commission said that "not been a comprehensive review of countermeasures, such as liquidity management for the normalization of Daewoo Shipbuilding & Marine Engineering and specifically defined, but up to now.

Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper &