Financing for Water Infrastructure and Technologies: Challenges and Opportunities in the Current Economic Climate

24th June 2009 • 2.30pm – 5pm • Gallery East, 3rd floor Suntec City Convention Centre, Singapore

Programme | Our Speakers | Registration | Contact

Grim economic figures filled the April 2009 issue of the International Monetary Fund (IMF)’s biannual World Economic Outlook.  Particularly worrying, was IMF’s projection that financial strains in mature markets would remain well into 2010.  As a result, credit to the private sector was expected to decline through 2009 and 2010, and emerging and developing economies would face significantly higher difficulties in receiving access to external financing over the same period.

Despite being traditionally considered one of the most stable industries, the water sector has nevertheless been affected by the financial crisis as well.  Companies around the world have reported incidents such as the postponement of projects, and difficulties in securing financing for large projects.  This forum therefore invites experts in the financial sector to address the heart of the topic:

• How can we secure financing project financing amidst this crisis?
• How effective is the widely-touted public-private partnership model?  Is it the solution for this crisis or a further challenge?
• What new investment opportunities have surfaced?

Programme
Co-Organised and Sponsored by Japan Bank for International Cooperation, PUB, and World Bank Group

Time	Programme
2.30 pm	Opening Remarks by Co-Organisers Mr Tan Yong Soon, Permanent Secretary, Ministry of Environment and Water Resources (Singapore) Click here to download presentation Mr Fumio Hoshi, Executive Director, Japan Bank for International Cooperation Click here to download presentation Mr James Adams, Vice President, East Asia and Pacific Region, World Bank Click here to download presentation
2.50 pm	Global Financial Crisis and Public-Private Partnerships – The Way Forward By Mr Sharad Somani, Executive Director, KPMG Corporate Finance Pte Ltd Click here to download presentation
3.00 pm	Financing and the Environment Industry (tbc) By Dr Martin R. Stuchtey, Principal, McKinsey & Co Inc. Click here to download presentation
3.10 pm	Asia Pacific Loans Market Outlook By Mr Boey Yin Chong, Managing Director , Syndicated Finance, DBS Bank Ltd Click here to download presentation
3.20 pm	The Changing Role of Multinational Development Banks in Private Sector Financing (tbc) By Mr Philip Erquiaga, Director General, Private Sector Operations, Asian Development Bank Click here to download presentation
3.30 pm	Tea Break sponsored by KPMG
4.00 pm	Opportunities in Public-Private Financing Partnerships By Mr Takashi Hongo, Special Advisor, Japan Bank for International Cooperation Click here to download presentation
4.10 pm	SingSpring – A Positive PPP Experience By Mr Au Yeung Fai, Chief Executive Officer, CitySpring Infrastructure Click here to download presentation
4.20 pm	Opportunities Amidst the Crisis in Technologies By Mr David Henderson , Managing Director, XPV Capital Click here to download presentation
4.30 pm	Discussion and Q&A Moderated by Mr Kamran Khan, Director, World Bank Urban Hub
5.00 pm	End

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Our Speakers
Our panel of speakers has been carefully selected to represent different facets of the industry, so as to get a comprehensive range of viewpoints.  The following is a short overview of our speakers.

Tan Yong Soon Permanent Secretary Ministry of the Environment and Water Resources, Singapore
	Tan Yong Soon is the Permanent Secretary of the Ministry of the Environment and Water Resources, Singapore.  He also co-chairs the Executive Committees for Environment and Water Technology.  He has served as Principal Private Secretary to the Prime Minister, Deputy Secretary in the Ministry of Defence and the Ministry of Finance, and CEO of the Urban Redevelopment Authority.  He was awarded the Public Administration Medal (Military) (Gold) and the Public Administration Medal (Gold).
Opening Remarks Mr Tan kicks off the Finance Forum by putting the financial crisis into perspective and framing the topics of his fellow speakers.  He neatly summarises the propositions for the afternoon as (1) an analysis of the challenges as a result of the credit crunch, (2) potential opportunities in the current market situation, and (3) making sense of the role of public-private partnerships amidst the changing financial sector.

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Fumio Hoshi Executive Director Japan Bank for International Cooperation
	Trained as a lawyer, Fumio Hoshi has worked in a number of different capacities at the Japan Bank of International Cooperation.  He has had a wide range of experience in numerous fields, including loans, policy planning and coordination, international finance, and project finance.  Mr Hoshi also has extensive knowledge of Asia and Oceania, having been the resident executive director of the region.
Opening Remarks: Role of Financing for Water Infrastructure Mr Fumio Hoshi begins with solutions for all, as he introduces the initiatives that JBIC has enacted in light of the financial crisis. He then analyses how water technologies today have given rise to substantial changes in the water cycle.  This in turn, has resulted in evolving trends in water infrastructure.  Mr Hoshi concludes with an overview of Public-Private Partnerships, to set the backdrop for subsequent presentations.

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James W Adams
Vice President
World Bank Group

Mr. Adams has overall responsibility for World Bank operations in the East Asia and Pacific Region.  Since joining the Bank in 1974, he has held a variety of operational positions in East Asia, Latin America, and Sub-Saharan Africa, including as Country Director for Tanzania and Uganda, as Director for Operations Policy, and as a Division Chief of several departments.  Most recently, he was also Vice President and Head of Network, Operations Policy and Country Services.  Before joining the Bank, Mr. Adams worked as a loan officer for Merchants Bank, in Syracuse, NY, and with the General Agreement on Tariffs and Trade, in Geneva, Switzerland.

Opening Remarks: Financial Sustainability and Development of Cities
Citing the newly launched World Bank-Singapore Urban Hub as an example of a shift in global development in cities, Mr Adams will focus on how cities can attain economic sustainability.  He puts forward a challenging proposition for local governments to utilize public and private savings for infrastructure development, instead of borrowing directly from the market.  Mr Adams then proposes related tools to monitor the borrowing firm’s performance and discusses why financing models must be continuously adapted for sustainable growth. 

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Sharad Somani Executive Director KPMG Corporate Finance Pte Ltd
	Sharad is Executive Director at KPMG Corporate Finance, Singapore.  He leads the Global Infrastructure and Projects practice in KPMG Singapore, focusing on the Asia Pacific and Middle East region.  He specializes in project finance and has handled various projects across infrastructure sectors including water and waste, information and communications technology, industrial infrastructure, energy and transportation.  His skill set includes contract structuring, bid advisory, business planning, financial structuring and modelling, regulatory advisory, risk mitigation, project appraisal, fund syndication and negotiations with bankers for project financing.  Sharad has worked with both investment banks as well as infrastructure developers and has had extensive experience in public private infrastructure projects.
Global Financial Crisis and Public-Private Partnerships (PPPs) – The Way Forward Speaking from a private sector perspective, Mr Sharad Somani will cover the challenges facing PPPs today.  He then provides his professional opinion on the outlook for PPPs, particularly amidst the global financial crisis, and how innovation is essential to sustaining its future.

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Dr Martin R Stuchtey Principal McKinsey & Co Inc.

Dr. Martin R. Stuchtey co-leads McKinsey's Global Special Initiative on Climate Change.  He advises corporations on assessing and mitigating the effects of climate change, and provides investors with analyses in growth opportunities in energy generation, efficiency, and smart transport.  In addition, Martin Stuchtey leads the German Travel, Infrastructure & Logistics Sector and has advised numerous postal and logistics operators, shipping lines, ports and tourism groups.  He has led public sector initiatives around the world, including Wolfsburg, Dortmund, Malaysia, Dubai, and Minas Gerais.  More recently, he has been working on large scale infrastructure development in emerging economies.  Prior to joining McKinsey, Dr. Martin R. Stuchtey served as a company commander in the German Alpine forces and worked as exploration geologist on mining projects in Germany and Southern Africa.  Subsequently, he worked for various companies in the Energy sector.

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Boey Yin Chong Managing Director, Syndicated Finance DBS Bank Ltd

Based in Singapore, Boey heads an award winning team overseeing DBS’s loan origination, structuring and distribution activities across South, South East Asia and Middle East.  He is active in a diverse range of financing including acquisition buyouts, project finance and structured finance.  Yin Chong has been instrumental in developing DBS’s very successful loan syndication business in Singapore and the region including India, Malaysia, Indonesia and more recently in CGG countries as well.  Recent awards won include IFR Asia Singapore Loan House 2008, Euroweek Asia 2008 Asia Pacific Loan House, Best Arranger for Asia Corporate and Singapore Loan House.  Boey is also the Co-Chairman of Asia Pacific Loans Market Association (APLMA) Singapore Branch for past 5 years and is a member of its Market Practise sub-committee.  Yin Chong has been with DBS Bank for more than 20 years and has considerable experience in corporate banking for both Singapore as well as regional markets.  Prior to joining Syndicated Finance in 2001, he was DBS Bank’s General Manager, Seoul Branch in Korea and Chief Representative of Mumbai Representative office.

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Philip C Erquiaga
Director General, Private Sector Operations
Asian Development Bank

As Director General of the Asian Development Bank’s (ADB’s) Private Sector Operations Department, Mr Philip C. Erquiaga is responsible for shaping and implementing ADB’s strategic agenda and operational program in supporting private sector development across Asia and the Pacific.  Prior to his current position, Mr Erquiaga has had multiple assignments at ADB, including ones with the Economics Office, Operations Departments, Treasurer’s Department, Cofinancing Operations, and Pacific Operations.  His responsibilities have ranged from investment portfolio management to risk management, project financing, and regional expansion.  Before joining the World Bank, Mr Erquiaga worked for the Overseas Development Council and Chase Manhattan Bank.  He is also the author of “Improving Domestic Resource Mobilization Through Financial Development – Indonesia”, and contributed extensively to “Banking on the Poor”, an analysis of McNamara’s World Bank, by Robert Ayres.

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Takashi Hongo Special Advisor Japan Bank for International Cooperation
	Takashi Hongo is a Special Advisor and Head of Environment Finance Engineering at the Japan Bank for International Cooperation (JBIC).  He has also served a financial expert in the Asia-Pacific Partnership, as a member of the International Advisory Board of Glove G8+5 Dialogue, and as a member of the UNEP FI Climate Change Working Group.  Prior to his current appointment, Mr Hongo was a Special Advisor and Director General for Kyoto Mechanism and a Director for Environment Risk Analysis.  He has also held positions of responsibility for multiple regions including Germany, the Middle East, and Africa.
Business Opportunities in Public Private Financial Sector Partnerships Mr Takashi Hongo will explain the financial framework that JBIC and other multinational development banks work within.  He then explains why the credit crunch is affecting the water industry in light of the financial risks that such banks face, and the measures that banks have taken to mitigate them.  But even as the world begins to see a light at the end of this tunnel, Mr Hongo highlights three major challenges that financial institutions continue to face, and discusses possible solutions.

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Au Yeung Fai Chief Executive Officer CitySpring Infrastructure Management Pte Ltd
	Prior to joining CitySpring Infrastructure Management Pte Ltd, Mr Au Yeung was with Barclays Bank Group, JP Morgan and CK Life Sciences Int'l., Inc.  During his 17 years in the banking industry, Mr Au Yeung led many transactions in the infrastructure, power and utilities sectors in Asia, Australia, Europe and North America and also advised a number of Asian governments on their privatization plans for the power industry and also advised a number of Asian utility and infrastructure companies on their merger and acquisition plans, including the first merger of two listed Chinese power companies.  He arranged a number of innovative structured/no-recourse financing for infrastructure projects throughout Asia and Europe.  In addition, Mr Au Yeung executed investment banking mandates for several of Singapore's leading infrastructure and utility companies.
SingSpring – A Positive PPP Experience Using SingSpring as a concrete example of a PPP, Mr Au Yeung Fai will describe how the PPP was reached for this landmark desalination plant.  Being Singapore’s first PPP project, it involved extensive cooperation and collaboration between multiple organizations, many of whom had never worked under such an arrangement. The result, however, was a project that won multiple global awards including the prestigious Desalination Plant of the Year 2006, by the Global Water Intelligence.  Mr Au Yeung provides a retrospective reflection of things done well and areas that could be improved.

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David Henderson Managing Director XPV Capital Corporation

David is the founder and Managing Director of XPV Capital Corporation, a leading investment firm dedicated to investing in high growth water companies. At XPV, David focuses on identifying and investing in companies capitalizing on the significant opportunities created by the ‘new water economy’ – a concept he developed. He is a respected speaker and expert contributor in the area of water technology and investing.  His experience includes negotiating partnerships with leading water multi‐nationals, helping portfolio companies complete strategic acquisitions and advising governments and regulators on water technology adoption strategies. Having done business in the United States, China, South Korea, India and the European Union he understands the complexities of building a successful global water enterprise.  David is an Advisor for the US Strategic Water Initiative, Ontario Clean Water Initiative and Imagine H2O. He is past Chairman and a current Director of Advancing Canadian Entrepreneurship where he received the Distinguished Service Award.  David is also a founding member of the National Angel Capital Organization.  Prior to starting XPV Capital, David was at Kinghaven Capital Corporation.

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Kamran Khan Director, World Bank Urban Hub and Infrastructure Finance Advisor, East Asia World Bank Group

Mr. Kamran M. Khan is the Director of the WB–Singapore Urban Hub and the head of the World Bank Office Singapore. He also leads the World Bank’s Infrastructure Finance Practice Group in East Asia, and is a member of the World Bank’s Global Expert Team on Public-Private-Partnerships and Infrastructure Finance. Mr. Khan’s experience includes investment banking, project finance, and management of infrastructure projects. He specializes in leading complex financial transactions as well as implementation of institutional development programs. Prior to joining the World Bank, Mr. Khan spent over eight years in the private sector focusing on investment banking and advisory services with Goldman Sachs, JP Morgan Chase, and LEK Consulting. Mr. Khan has also worked for over seven years at the U.S. Agency for International Development (USAID), where he managed infrastructure projects in South Asia, Eastern Europe, Central Asia and Latin America, and was the team leader of USAID’s global project finance/guarantee facility. Mr. Khan’s experience includes transactions involving municipal bonds, asset securitization, project finance, privatization, mergers and acquisitions, buy-outs and private equity investments.

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Registration

If you are not attending the Water Leaders’ Summit or the Water Convention at the Singapore International Water Week 2009, please register as a Trade Visitor to attend the Finance Forum.  Although online registration has closed, you can still register on-site at Level 1, Suntec City Convention Centre. Registration is free. It is advisable to arrive about 15min early to complete the registration process.

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Contact

For further enquiries, you may contact:
Ms Ruth Khan
Industry Development Department, PUB
Tel: (65) 6731 3251
Fax: (65) 6731 3023
Email: ruth_khan@pub.gov.sg

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