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5th GPF Executive Workshop on Feasibility, Valuation and Financing Port and...

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Pan Pacific Singapore

7 Raffles Boulevard (S)039595

Singapore, 039595

Singapore

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5th GPF Executive Workshop on Feasibility, Valuation and Financing Port and Terminal Projects, June 17-19, 2019 Singapore

Global Ports Forum presents – 5th Executive Workshop on Feasibility, Valuation and Financing Port and Terminal Projects, June 17-19, 2019 Singapore


5th GPF Executive Workshop on Feasibility, Valuation and Financing Port and Terminal Projects, June 17-19, 2019 Singapore

Global Ports Forum presents – 5th Executive Workshop on Feasibility, Valuation and Financing Port and Terminal Projects,

June 17-19, 2019 Singapore

23-25 Sep 2019, Singapore

09-11 December 2019

04-06 March 2020


Dear colleagues

Objectives of the Course

Intense, participative learning about all aspects of Ports related corporate finance in six modules with defined learning objectives, subject content, simulation among participants and deliverables by participants over a 3 days’ period.

The end of the course each participant will go away with a clear view of (1) How to conduct feasibility of port / terminal projects in green/brown field (2) Assess valuation of the project from the promoters, investors and operators perspective (3) Evaluation and selection of Financing methods and options by understanding how each component of Ports Corporate Finance works and how it links with every other part of the business (4) How to achieve Financial Closure and select optimum combination of financing options.

Current trends in the global supply chains clearly suggest a paradigm shift in pattern of customers’ value proposition. In line with value migration investments in the global supply chains and logistics sector and in particular in ports and terminals – whether though greenfield activity or M&A (brown field projects) - have been steadily moving towards creating a better and more integrated infrastructure, both to facilitate supply chain integration and to lower transport costs, thus contributing to regional, national and global economic growth. Live case studies of DP World, CMA-CGM, Maersk – APMoller, PSA and a number of other leading port and terminal operators demonstrate these trends. These case studies will be used during the three days deliberations encouraging participants to utilize applicable concepts in their own working environment.

The course makes use of case studies, which will follow the logical steps in the project identification to actual execution and implementation process: from feasibility to ppp Implementation and bank-ability.

Course Format

Pre Course Reading Materials

Select Ports’ business – last annual report, investor presentation & call transcript; every participant will be sent a reading pack to be read.

During the course

Overview of corporate finance concepts linked to ports Corporate Finance extensive use of tools.

While this is not a modelling course, we will use excel to the extent possible, participants with limited exposure to excel will be helped by the trainers during the course.

After course

Trainers available for follow up emails, questions on phone.

Distribution of discussion materials.

Form a participant only online group.

Course Introduction

Introduction to financial statements, financial analysis, corporate finance and how the 3 link up.

Introduction to the port business – economic rationale, technical, market, operations – Participants to participate with elaboration of their roles

Port Business Corporate Finance

Overview of recent Ports transaction global activity

Participants to participate with comments on the assets they are familiar with

Program Details (Daily 9.00am to 5.00pm)

Day 1

  • Introduction to World Maritime Trade and development of international ports.
  • Understanding Role of Ports as vital gateways for national trade and economic development.
  • Changing role of Ports as most essential link in the international logistics and supply chain.
  • Types of Ports and classification of ports and terminals based on nature of business and customers to be served – passengers and different types / categories of cargo.
  • General or multi-purpose ports v/s specialized ports – Advantages and disadvantages.
  • Classification of Ports and terminals based on ownership / operation structure.
    • Port Business analysis. Understanding dynamics, market forces and elements which impact the ports business.
    • Analysis of each factor and extent of its influence on the port business volume and revenue.
    • Mapping competition activities and market environment scan.
    • Process of Port Development for new project sites and existing project sites.
    • Site selection, prefeasibility studies, plans for environment management, project funding and financing options and structure; Legal and commercial terms – concession agreements.
    • Site investigation and detailed studies, preparation of bankable Detailed Project Report (DPR), achieving Financial Closure for the project, negotiation of legal and commercial terms and signing concession agreement.

Day 2

  • Financial Analysis – using PSA/ APM Terminals/ DP World as Case Studies
  • Accounting overview
  • The Three Core Financial Statements and what they tell you – Income Statement, Balance Sheet and Cash Flow Statements.
  • Financial statement integration
  • Core accounting principles
  • Ratios for financial analysis and performance measurement
  • Cash Flow Statement Overview
  • Analysing a cash flow statement
  • Working capital management
  • Cash conversion
    • Impact of a chosen concession system for all players concerned”
      • General conditions for concessions
      • Governance of the concession policy
      • Public –private partnership
      • The dual character of a concession
      • Tariff policy of a port
    • Choosing a Port Over Another – Terminal Operator View
      • Granting concession in a port(case study)
      • Competition and collaboration between ports
      • Rules and regulations for a fair competition between public and private terminal operators:
      • Why facilities public and private.
      • Reasons to choose a port over another
      • Forces stimulating port reform
    • Case Study
      • Analysis of a live concession bid document
      • Simulation – Participants divided into port land lords, competing terminal operators across cargo types – dry bulk, container. Liquid

Port Sector Analysis

  • Sales growth, operating profit margin and working capital requirements
  • Capital expenditure and asset requirements
  • Competitive forces and critical success factors to sustain a competitive advantage
  • Tools to analyze Comparative advantage vis a vis competing ports in the vicinity

Management and Shareholders

  • Review the strengths and weaknesses of management and the influence of company ownership:
  • Management performance
  • Corporate aims and goals and their effect on the company’s future
  • Shareholder structure, support and influence.

Business strategy

  • A company’s markets, products, services and competitive position
  • Corporate actions underpinning its growth strategy.

Earnings dynamics

  • Quality and stability of revenue and cash flow from core operations
  • Cost base analysis, profitability and cash flow measures
  • Peer and ratio analysis to evaluate performance
  • Different accounting conventions and misleading accounting practices

Asset management

  • Asset conversion cycle, asset efficiency and investment needs
  • General and industry specific ratio and cash flow tools to analyse and compare asset efficiency

Cash flow drivers

  • Forecast operating performance and asset investment requirements.
  • Financial Risk
  • Evaluate the appropriateness of a company’s funding structure given all factors identified

Liquidity

  • Financial flexibility: measuring liquidity or payment readiness
  • Funding instruments used by companies that can increase the refinancing risk and overall financial risk

Solvency

  • Funding structure including off balance sheet obligations
  • Debt servicing ability using cash flow analysis
  • Rating medians to evaluate a company’s financial standing
  • Future cash available for debt service using a simple debt capacity cash-flow model
  • Refinancing risk: debt capacity vs. borrowing capacity
  • Structure
  • Review the appropriateness of existing or new debt instruments
  • Debt profiles in view of repayment sources

Day 3

Port Valuation and Financial Modelling

  • Port / terminal Market potential and traffic projections for the like of concession
  • Hinterland Mapping and competition analysis
  • Dynamic value addition and Unique Selling Proposition
  • Pricing strategy and business volume sensitivity
  • Master / spatial planning and determination of infrastructure / superstructure required
  • Capital Expenditure (CAPEX) required in a phase wise manner
  • Business volumes, revenue and operating expenses calculations
  • Preparation of periodic cash flow and balance sheet
  • Financing options – debt and equity
  • Ratio analysis and debt serviceability
  • Determination of IRR – for the project and equity
  • Arriving at project valuation and achieving financial closure
  • Building in sensitivity (fluctuation in revenue or costs) in the Financial Model.

Endorsement for the executive workshop from past participants:

“Excellent workshop. Course director is very knowledgeable and the discussions provided good interactions. Like the exercises in P&L, Finance spreadsheets and Due Diligence.”

Capt. Samuel Arava, CEO, ABIJAM Global Enterprises LTD, Jamaica

“A lot of case studies being used which helped us the participants to understand the financing processes better.”

Jonathan Chia, Manager, Portek International Pte Ltd, Singapore

Who Should Attend?

  • Non corporate finance professionals from Ports businesses – technical, business development, operations, legal, controllers to get a deeper understanding of the corporate finance function and how their day jobs are linked to the corporate finance function.
  • Fresher’s who are joining corporate finance, business development, M&A divisions of Port businesses; equity research analysts, Investment Banking professionals beginning to cover or in the early stages of covering Port Businesses
  • Corporate finance or non-corporate finance professionals who interface with Ports as a customer – Heavy Industries (Dry Bulk), Oil & Gas, Freight Forwarders, Shipping Lines, land logistics asset owners or service providers

About the Course Directors


Mukesh Parikh

Mr. Mukesh Parikh who is associated with Global Maritime Industry for over 35 years. Mr. Mukesh Parikh has a distinction ofhaving hands on Maritime Industry experience with continuous involvement in Training and Development throughout his distinguished career. Mr. Mukesh Parikh has a post graduate degree in Management with specialization in Marketing and Finance. He attended one year training program Professional Shipping at Norwegian Shipping Academy, Oslo.

During his career of 18 years in the Commercial Shipping, he was associated with UNCTAD/UNDP as a Trainer and Course developer. He attended two weeks instructors Workshop (Training for Trainers) organized by UNCTAD / UNDP in collaboration with The Ministry of Transport and Ports in Malaysia at Penang Port Commission. He conducted a number of training Programs in the Middle East, South East Asia and Indian subcontinent including developing a training program on General Shipping Management for Arab Maritime Transport Academy, Sharjah, UAE; covering shipping subjects.

A sound foundation of Shipping Industry and clear understanding of market and customer requirement and expectations from service providers enabled Mr. Mukesh Parikh to build the next phase of his career in Ports and Terminal Industry. He joined The Adani Group in Senior Management position at the inception stage of Mundra Port in India and made a major contribution to set up Business Development and Marketing Team as well as Establish Standard Operating Procedures for the entire spectrum of Operations in the Port. He successfully built marketing and operations teams and trained them. His next role was Chief Operating Officer of Sterling Port for setting up integrated Port Facilities at Dahej Port. All stages of Green Field Port development were covered – From site selection to Feasibility, Environment Impact Assessment and Environment clearance for the project, Detailed Project Report, Concession Agreement with Authorities for development of Port infrastructure and facilities on Build, Own, Operate and Transfer model.

Since July 2014, Mr. Mukesh Parikh has taken up advisory and consultancy role for The Maritime Industry. His assignments for Ports and Terminals cover Business volume estimation and hinterland mapping with competition analysis, Revenue forecasts for the life of the project and financial modelling, investment optimization in line with market potential; Commercial and legal aspects of logistics, cargo handling, warehousing contracts; business excellence and standardization of operating procedures; Organization development, structuring and Manpower planning and training.

Thomas Ng

Thomas Ng has over 23 years of consulting experience in the ports and shipping industry. Thomas is known for developing innovative solutions for players within the ports & shipping industry, — in areas of investments advisory, port strategy, development, marketing, planning & redesign, customer services and port operations; and delivering superior results.

He is the Executive Chairman of The Global Ports Forum (GPF) since 2008. The Global Ports Forum is a platform where all ports stakeholders in the ecosystem- port customers, port authorities, port operators, port people, port suppliers & service providers are gathered together to discuss about issues furthering the interests of ports globally.

Thomas is well-respected in the ports & shipping circles — recognized for his in-depth industry knowledge and far-reaching personal industry network and linkages. Some of his recent port investments advisory work include ports in the Middle East, Africa, Southern Europe, South East Asia, Latin America, etc.

Given Thomas’ far-reaching personal port industry network and linkages, Thomas is often seek out by port investors and port privatisation candidates all over the world for collaborative partnership.

Thomas is invited regularly as speaker & facilitator for Ports conferences, roundtable and executive programs and workshops.

He is the senior port & terminal training expert for the Singapore Ministry of Foreign Affairs (MFA) Singapore Cooperation Programme (SCP) for foreign ports officials for over 10 years. Recent programmes conducted by Thomas include the 5 days executive program in “Port Development and Competitiveness”, Singapore on 12-16 Dec 2016 where Thomas was the key trainer for over 60% of the whole executive program. Some other early SCP programmes that Thomas taught over 20 senior foreign government transport officials included the 2 weeks Singapore MFA Executive Programme in Logistics & Distribution Management on 28 Aug – 10 Sep 2007 & again on 6 Oct – 17 Oct 2008.

Thomas spoke recently at the Transport Intelligence Singapore 2013 Infrastructure panel, together with senior executives from the World Bank & UPS, the Container Depot Association Singapore Conference 2014 on ports and infrastructure, Tank Storage Asia Conference in 2015 and an exclusive Roundtable on Smart ports & ships and Internet of Things in Jun 2016.

On a professional level, Thomas is a veteran Chartered member of the Royal Chartered Institute of Logistics & Transport UK since 2001. He is also a Board Member and Treasurer of the Singapore Branch of Chartered Institute of Logistics & Transport for over 14 years.


Costs:

On or Before 17 May 2019: The ‘Early Bird’ Rate is SGD4595 – Save SGD400!

Special Offer! – 3 Delegates For The Price of 2 in This Category! Save SGD4595!

From 18 May 2019: The Regular Rate is SGD4995

Special Offer! – 3 Delegates For The Price of 2 in This Category! Save SGD4995!

Note: All fees stated include luncheons, refreshments and complete set of documentation. It does not include the cost of accommodation and travel.

REGISTER NOW!

To register, please submit the following details to thomasng@globalportsforum.com:

Name:
Position:
Organisation:
Address:
Tel:
Fax:
Email:
What Best Describes Your Industry Sector?:

Billing information:

For cheque payments: To be made payable to ‘Global Ports Forum Pte. Ltd.’ Please do not send post-dated cheque.

For telegraphic transfers:

Account Name: Global Ports Forum Pte. Ltd.,

Account No. : 695 477 141 001.

Beneficiary Bank: Oversea-Chinese Banking Corporation Limited, Singapore. (Swift: OCBCSGSG),

Address : 65 Chulia Street #01-00, OCBC Centre, Singapore 049513.

Please supply confirmation via email of the TT from your bank. Transmitting bank charges must be paid by sender. Please quote both delegate and company name as reference.

Kindly note that as we are providing a special rate for ‘early bird’ sign up, we will need to receive your company payment by 17 May 2019 to enjoy the discount.


Details of GPF forthcoming executive workshops/forums are available on our website at below link:

http://globalportsforum.com/forthcoming-gpf-executive-programmes/

Details of GPF PAST executive workshops/forums are available on our website at below link:

http://globalportsforum.com/past-events/

Look forward to welcoming you at the executive workshop in Singapore!

Kind regards

Thomas Ng

Chairman

The Global Ports Forum

GLOBAL PORTS FORUM PTE. LTD.

10 Anson Road

#27-15

International Plaza

Singapore 079903

Website: www.globalportsforum.com/

Mobile: +65 9684 3289

DID: +65 65197662

Fax: +65 6725 8438

Email: thomasng@globalportsforum.com

Terms & Conditions:

No delegate registration will be accepted without completing registration details and full payment.

Upon receipt of your registration details and full payment, further programme information will be emailed to you including your proforma invoice and, if required, a letter of invitation for entry visa application.

Delegates will not be admitted unless payment has been received in Full.

Flights, Airport Transfers and Accommodation are not included in your delegate registration fee.

Refund Policy – a reimbursement of the registration fee, minus administrative charges will only be made if the participant has notified Global Ports Forum Pte. Ltd. in writing that he/she is unable to attend the event no less than 45 days prior to the commencement of the event. No cancellation is allowed after that, but a replacement with another participant is allowed.

This programme is subject to change without notice, E&O.E.

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Date and Time

Location

Pan Pacific Singapore

7 Raffles Boulevard (S)039595

Singapore, 039595

Singapore

View Map

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