TFC CAPITAL COMPLETES DEBT RESTRUCTURING FOR A SHANGHAI BASED MANUFACTURER

A victim of the huge collapse in consumer demand in USA and Europe our client found themselves not only with three production lines and a dwindling order book but also several buyers having to re-schedule orders altogether. A manufacturer of modern designer furniture found itself floundering after 5 years of successful growth. TFC Capital successfully restructured a USD seven figure term loan due in 2010 to 2013 but had to work with a Bank which was closing down its business in Asia and with an insurance underwriter which had also seen several transactions requiring restructuring arrangements during the last 12 months. It was a win win deal and shows the maturity of TFC Capital to gain the respect of two seasoned institutions to take the lead on a successful re-organization of the loan obligations.

TRADE FINANCE CORPORATION COMPLETES TRADE FINANCE ARRANGEMENTS FOR HONG KONG TRADER

Our client, on the one hand being the classic Hong Kong commodity trader with strong ties to Chinese industry also has strong ties to Middle Eastern and North African exporters of commodities. Therefore whilst the requirement was straight forward, the trade flow is less usual for Hong Kong and involved finding a trade finance provider with a strong understanding of Middle East linked business. Therefore the Letter of Credit facility and short term bridging arrangement was arranged by Trade Finance Corporation with a specialist bank in Malta. The USD seven figure credit is a bog standard trade finance arrangement but shippers documents will be received from Middle Eastern/North African suppliers.

TFCB sees change in 2010 risk appetite
After an excellent result in 2009, the new year brings new challenges for TFC Brokerage. A bank market mired in government-supported transactions where insurance cannot assist, hence little new business and an underwriting market concentrating purely on balance sheets. History, skills and trade position seem incidental, and trade finance transactions more difficult to secure.

On the positive side, there is an increased demand for major obligor and political risk cover on various country-related exposures. The recession has (at least temporarily), concentrated minds on the risks and cost of doing business - and how to mitigate; TFCB's core expertise.

TFC Capital (Philippines) Inc sees betterment in 2010
As we anticipate a better 2010 for the Philippines, government and rating agencies show optimism with higher forecasts for economic indicators - GNP and GDP growth triggered by consumption for the May Elections, a "recovering" US economy that will spur an increase in exports, BPO outsourcing revenues and of course foreign investment. Economists say that Services will continue to provide the major spur for growth, with agriculture and mining providing strong support.  Although China will continue to dominate manufacturing, the Philippines' raw material input will provide comparative advantage. 

Against this backdrop, TFC Capital Philippines ratchets up to cover the significant bases as we continue to work with our branches on multiple mandates received from companies in Mining, Agriculture, Renewable Energy, Financial Services, Hotel and Casinos and Education.  At the same time we continue to pursue exciting opportunities in internet technology, food and manufacturing.  2010 brings the promise of hopeful new beginnings for the country and timely opportunities for TFC Capital.

TFC CAPITAL (ZIMBABWE) (PVT) LTD IS BORN
TFC Capital (Zimbabwe) (Private) Limited (“TFCCZ”), the latest addition to our growing network of overseas offices, was incorporated in January 2010.  Based in Harare, the capital city of Zimbabwe, TFCCZ will be the TFC Financial Group’s gateway to Africa and will focus on project finance and inward investment advisory services in mining, tourism, IT, manufacturing and financial services. 

Leveraging on its intimate knowledge of the African markets, TFCCZ is well-placed to assist local companies wanting to access growth and development capital from the international debt and capital markets by tapping into the group’s solid  experience and vast array of contacts in the Asian and other international financial markets.

TFCCZ will be headed by Managing Director Omen N. Muza (37) whose experience encompassing trade finance, structured finance and correspondent banking was gained over a15-year period working for three top Zimbabwean banks. Omen is a holder of a Master of Business Administration (MBA) degree from Nottingham Trent University of London.

TFC资本成功為驻上海一家生產商完成债务重组
一家在美国及欧洲市场失去重大顾客需求的生產商，发现其不单减產至只有三条生產线以及逐惭减少的订单外，还发觉部份买家同时重整订单量。这家从事现代傢具设计的生產商发觉在经过五年之业务增长后，业务处於挣扎状况。

TFC资本成功為这家企业安排七位数字美元之重组贷款，并与一家银行及一保险业者合作，该银行现已退下亚洲业务，而这家保险业者在过去12个月内曾多次处理有重组债务需要之交易。

这形成一个双赢局面，亦促使TFC资本赢得两间机构之重视，因為我们有足够能力担当重组债务角色。

贸易融资有限公司為香港贸易家完成贸易安排
我们的客户是典型香港商品交易商，与中国工业有重大联连，另一方亦与中东及北非地区之商品出口商有紧密联繫。故此，当有关需求较直接时，往香港之贸易流量也会较少，同时亦需要寻找对中东业务有深厚认识的贸易融资提供者。

因此，贸易融资有限公司為这家企业在一家马尔他银行安排信用証及短期贷款。 七位数字美元的信贷额是贸易融资安排的固有标準，但船务文件将会由中东/北非地区供应商提供。

贸易融资保险顾问预计2010年之风险需求改变
贸易融资保险顾问在经过2009年丰盛成果后，新一年将面对更多挑战。 当保险并未能协助银行市场(交易属政府支持性质)，故此，新冒起之小型企业及保险业市场均集中在资產负债表。歷史、技术及贸易位置等等惭成為非主要性质， 此亦令贸易融资较难维持。

正面一点来看，这增加了对主要责任履行者及政治风险保障之需求，有关经济紧缩现像焕起对风险及做生意代价之关注，以及如何缓和风险等等，这些均是贸易融资保险顾问之专长。

TFC资本(菲律宾)展望2010年
因受到五月竞选影响，菲律宾政府及评级机构对国民生產总值及国内生產总值的增长作出正面预测，故此我们预计2010年之发展将会比往年好。美国经济之復甦将刺激出口量，BPO国外收入及外国投资。此外，经济师表示有关措施将持续以加速发展， 而农业及矿產业也给予强大支缓。中国虽然继续主导生產业，但菲律宾之原材料仍享有竞争优势。

TFC资本(菲律宾)现已加快覆盖重要基础，继续与我司之子公司在多个项目上合作， 包括矿產业，农业，再新能源，金融服务，酒店及赌城娱乐及教育等等。与此同时，我司亦从事令人兴奋的商机，包括互联网科技，食品及生產业。期望2010年将為菲律宾及TFC资本(菲律宾)带来更多新开始及适时商机。

TFC资本(辛巴威)有限公司已成立
TFC资本(辛巴威)有限公司 - 本集团扩充海外业务网络之办公室，已於2010年1月正式成立。TFC资本(辛巴威)位於辛巴威首都哈拉雷，是贸易融资金融集团通往非洲的通道，并将专注发展项目融资，及对开採矿石，旅游业，资讯科技，生產及财务服务等所提供的投资顾问服务。

权衡非洲市场，TFC资本(辛巴威)透过本集团之丰富经验以及在亚洲地区及其他国际金融市场之庞大网络，经已作好準备协助当地公司发展及增大资本。

TFC资本(辛巴威)将由董事总经理Omen N. Muza先生领导。Omen君在辛巴威最顶尖三家银行拥有15年丰富贸易融资，结构性融资及相关的银行经验。

TFC是一家以香港为基地的财务服务供应机构。如需更多的相关资料，请到我们的公司网站www.tfcfinancialgroup.com    浏览或以电邮  tfc@tradefinancecorp.com    联络我们。