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News Articles Organized by Date
The bi-annual conference brings together members of all IMAP firms worldwide to share ideas and opportunities in the M&A sector.
Above are Suresh Iyer (IMAP India) (left), Brian Baldwin (IMAP Seattle) (second from right) and Peter and Ginny Church (IMAP Australia) at the Smithsonian Portrait Gallery function during the IMAP Conference in Washington in April 2008.
ACPET had earlier initiated a tsunami victim scholarship program at Al Muslim University in the province of Bireun in North Eastern Aceh. Under this project full tuition scholarships were provided for 322 students to allow them to continue their studies at the private University in Bireun. The total amount contributed by ACPET members for the Aceh scholarship was $A75, 000.00 so in total $A100, 000.00 has been contributed by ACPET to the tsunami and earthquake victims in Sumatra. This is a magnificent response and has been warmly applauded by the Indonesian and Australian governments, the Australian Embassy and the recipient communities.
ACPET member and Associate Director of the Asean Focus Group Michael Fay has assisted in coordinating this project over the past two and a half years. On his most recent trip to Indonesia Michael was able to complete the agreed ACPET contribution to the Nias project and his report follows:
On Thursday January 17th I met with M/s Silvana Sinar the coordinator of private education and training for the provinces of North Sumatra and Aceh together with the rector of IKIP (Teacher Training College ) Gunung Sitoli, Nias and the Australian Honorary Consul for North and West Sumatra Mr Mick Stevens.
A cheque from Acpet was handed over to the rector made out to IKIP Gunung Sitoli for the outstanding amount of 53,550.000 Indonesian rupiah (approx AUD 6,694).This completes the agreed payment for student fees under the ACPET Nias Scholarship.
It was agreed as per the spirit of the agreement that the surplus amount 2,912,700 Indonesian rupiah (approx AUD 364) would be used to assist in funding a two day teacher training workshop at Gunung Sitoli Teacher Training College by the Australia Centre Medan in the first half of 2008.This workshop will assist up to 15 English language teachers working at the college to develop their English language teaching skills. The Indonesian side has agreed to contribute one return airfare for a teacher trainer and accommodation for 3 nights.
I am pleased to report that the scholarship program has been successfully concluded and reflects very favourably on ACPET and all parties involved. In particular I would like to thank the Australian honorary consul in Medan Mr Mick Stevens for his ongoing support and the ACPET national chair for championing this generous response within ACPET.
It is hoped some of the heads of private education and training from various Indonesian provinces will attend the ACPET National Conference in Hobart in August 2008
The rector of IKIP Gunung Sitoli , Private Education and Training head Silvana Sinar and Mick Stevens at the Australia Centre Medan (photo by Michael Fay)
This survey was conducted during December 2007, with the objective to evaluate the perceptions which Australian and New Zealand business hold about Asia, with specific reference to Thailand, as a commercial target and business partner. It is one in an ongoing series which allow the perceptions to be monitored over time.
The survey was conducted by Glen Robinson and Mitchell Brown of Asean Focus Group. Glen Robinson is a founder and has been an executive director of AFG for over 17 years, and as such has advised and assisted many companies which wished to establish or enhance a commercial presence in Asia.
The number of participants this year was an all-time record, giving us a lot of confidence that the results are representative of the perceptions and feelings of those who have existing or aspirations to have commercial contact with Asia, and in this case Thailand in particular. It is interesting that the results are very positive and encouraging, despite the political turmoil during the year.
This survey will be published in the March issue of Advance, a publication produced and distributed by the Thailand office of The Australian Chamber of Commerce (AustCham) and the Australian Thai Business Council.
Click here to download Asian Perspectives 2007 (pdf)
The ASEAN Business Dialogue addressed a number of thought-provoking issues and contained many forthright presentations underscoring the importance of addressing the challenges that confront doing business in the ASEAN region.
Malaysian publication The Edge covered the event and has published the below report.
Special Report: Asean at critical turning point
By Anna Taing
19 Nov 2007
http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_5bf8e7a3-cb73c03a-1d4d4930-2ebbd269
In the 1980s and 1990s, the Singapore-based Ascott group derived some 90% of its profits from Southeast Asia. Today, Asean contributes 33%, while Europe, 50%. "So, is Asean still relevant?" asks Yip Hoong Mun, CEO, Asia-Pacific Gulf region, Ascott International Management, Singapore. He believes so, because Asean is still Ascott's base, and contributes a third to its overall income. "Asean is important, it is still our base, but other emerging markets are coming up... we have to be careful," he told a conference on "Doing Business in Asean, Challenges and the Way Forward", organised by Zaid Ibrahim & Co in Kuala Lumpur recently.
But Asean must move on, because five years from now, the story could be very different. For the Ascott group, it is expanding fast to other parts of the world, and Asean may end up contributing less than 30% to the group's overall profits, according to Yip.
To take it a step further, what the Ascott group is experiencing today is shared by other businesses, too. The key is, will Asean still be relevant then for the businessman who wants to expand and grow market share? And the worry is, with the emergence of more competitive markets elsewhere in the region, Asean is in real danger of being marginalised.
Its biggest challenge, some observers say, is that few businesses view it as a single market.
"Asean as an economic bloc is still not on the minds of many CEOs, and this is a big challenge for us. We are comfortable with where we are, but there is still so much potential to be tapped," says Sandiaga S Uno, managing director of Saratoga Capital, Indonesia.
Sandiaga, Indonesia's new breed of aggressive young entrepreneur who have emerged from the downfall of the Suharto regime in the aftermath of the 1997 Asian financial crisis, says for Asean to go forward, its members need to help each other.
"Integration is positive, it is important, because it will help the bloc grow bigger and better. For example, Indonesia has so much natural resources, reforms are being carried out, and other businesses from Asean can help by taking part in this development," he opines.
Steve Maloy, General Electric's senior legal officer in Asia-Pacific, says Asean still has huge potential.
"For GE, some 70% of its sales comes from just three countries in Asean, therefore, there is a huge potential for growth... the challenge facing Asean is how to capitalise on its strength, and get people to see Asean as a single market," he says.
Asean Charter, AEC Blueprint
How can Asean rise to the challenge and ensure it stays relevant in a fast-changing world? This issue will top the agenda of the 13th Asean Summit, which will be held in Singapore next week, starting from Nov 20.
Indeed, the Singapore summit will be one of the most crucial meetings for the 10 members of Asean, because two major blueprints are up for approval blueprints that will make or break the regional grouping that celebrates its 40th anniversary this year.
The two blueprints, the Asean Charter and the Asean Economic Community Blueprint, will map out the direction Asean will take in the next few years, the goal being the creation of a single market an Asean Economic Community by 2015.
The decision to establish the Asean Charter was made in 2005, the objective being to consolidate and strengthen Asean's community building. As it stands today, Asean is a loosely organised regional body, because its initial objective was keeping peace, and not ensuring economic prosperity in the region. Ong Keng Yong, Asean secretary-general, said in a recent speech that with the charter, Asean will become a more rules-based organisation, which will enable it to meet the challenges posed by regional integration, expansion of its external linkages and rapid globalisation.
Thus, in effect, the Asean Charter will set the legal foundation for Asean to restructure its existing mechanisms and improve its decision-making process to enhance efficiency. "The charter will provide Asean with a legal personality," he said.
Which is crucial if Asean wants to make headway in wanting to become a single market by 2015. The charter and AEC economic blueprint are up for ratification at the 13th summit.
The economic blueprint essentially is a masterplan that will guide Asean's economic cooperation and integration over the next eight years. The aspiration is to transform the AEC into a single market and production base that is highly competitive, equitably developed, and well integrated into the global economy.
The blueprint will contain measures that are required to realise the AEC, and these will include milestones and timelines for its implementation. More importantly, measures will be directed at modernising the group's commerce and economic systems, to bring down border barriers and facilitate a better flow of people and goods between the countries.
Roadblocks ahead
The road to a single market in Asean will not be easy, even though much has been achieved during the last 40 years.
Let's take a look at how far Asean has come since 1967. Apart from achieving significant success in the region's security, a major milestone for the grouping is the establishment of the Asean Free Trade Area (Afta) in 1992. Afta aims to eventually reduce tariffs to between zero and 5% in the region. Today, intra-regional trade amounts to some US$320 billion (about RM1.1 trillion) a year.
To expedite AFTA, 12 priority areas have been identified for fast-track integration by 2010, and these include agro-based products, air travel, automotive products, electronics, fisheries, healthcare, logistics, textiles and apparels, tourism, wood and rubber-based products.
Be that as it may, much remains to be done on the economic front. For one, Asean today is still viewed as 10 different countries, with 10 different customs' authorities, rules and regulations, and 10 different borders. Not surprisingly, viewed individually, each member is too small to make an impact. Moreover, the cost of doing business, like moving goods in and out of Asean, can be high if the borders remain.
Yet, viewed as a single entity, Asean is a huge market of more than 500 million people, where each country is a gateway into a hinterland that is rich in natural resources.
The biggest challenge to a single Asean market is whether there is political will to do so. Already, the drafting of the Asean Charter has been fraught with problems, and observers say the biggest impediment is whether all the governments will accept the agreement to set up a human rights commission.
Peter Church, managing director at Asean Focus Group Pty Ltd Australia, says the Asean Charter is important for Asean only if it is enforced. "The situation now is, even if the agreement is in place, nothing happens if people breach them. For example, the forest fires in Indonesia. Year in and year out, similar resolutions are made but nothing happens, and this is repeated year after year."
The Asean Focus Group is involved in corporate advisory services, particularly to companies on the soundness of their Asian strategies and business plans.
Church notes that while issues like Myanmar don't matter for day-to-day business, Myanmar is still the weak link in the chain for Asean, from a macro-perspective.
"The question is whether Myanmar will sign the charter, which contains a legal framework to establish a human rights body," he says.
Anangga W Roosdiono, secretary of the Asean Business Advisory Council, believes that the realities to confront, in moving Asean forward, is whether there is political will to drive through complete integration. In this regard, he says there is a need to balance development, and prevent it from causing weaknesses and discord among members.
Singapore summit critical
Human capital is the next frontier. Saratoga's Sandiaga says in terms of flexibility of labour mobility, Asean cannot be like the European Union, where every member has to follow a norm.
"Asean is made up of 10 siblings and they are all different. The way to do it is not by interfering, or dictating, but to include all in discussions. For example, for Myanmar, the solution is not through coercion, but dialogue on political reforms and so on," he opines.
Sandiaga's dream is that in 10 to 15 years, a bridge that symbolises Asean integration will be built to link Java, Sumatra and Malaysia together.
Philip Lee, CEO at JP Morgan Securities Asia Pte Ltd in Singapore, is all for greater integration in Asean. "There will be more business opportunities, investments, but there is a need for a common ground for regional investments," he says. "The challenge is, we have to take down border barriers in the face of globalisation, because it is difficult for foreign entities to conduct business because of these barriers and different regulations. "To change, this will take time, we have to be patient, but there is need to make regulations relevant for business."
Asean today is at a critical turning point. The consensus is that there is vast potential to be tapped, but first, it must re-engineer itself into a more open and integrated and well-coordinated grouping.
The wheels to achieve a single market, a common legal framework and greater cohesiveness among the 10 members have been put into motion. How fast things will move from here, though, will hinge on the outcome of the Singapore summit.
In total, the conference attracted over 163,000 trade visitors from 175 countries and was an excellent opportunity to gather comprehensive information from 6,607 exhibitors from 95 different markets.
Decision makers from a wide variety of locations attended the IMAP congress "Global Strategic Partnerships in the Agriculture and Food Industry" including representatives from companies based in countries such as Argentina, Malaysia, India, Lebanon, Russia, Sri Lanka and Thailand.
An IMAP member firm from each major geographic region presented a detailed overview of current global transaction activities based on the latest market surveys and furnished information on predicted Mergers & Acquisition trends.
The International Network of M&A Partners (IMAP) is an exclusive global partnership of corporate finance lead advisory firms. IMAP has unmatched global reach, with 350 dealmakers spread across 34 countries, covering North and South America, Europe and Asia. Globally, IMAP advises on circa 200 completed transactions per annum and in 2006 completed transactions with an aggregate value of $6.3 billion.
ACG buys Croatian capsule firm
BS Reporter / Milan October 8, 2007
ACG Worldwide, one of world's largest pharmaceutical machinery and capsule manufacturers, has acquired Croatia-based Lukaps, which manufactures capsules.
This is the first investment by an Indian company in Croatia, said Ajit Singh, chairman, ACG Worldwide. Our customer base is increasing in Europe and Russia and the acquisition will help quick deliveries of hard gelatin capsules in Europe and the Russian region, he said on the sidelines of the CPhI Worldwide pharmaceutical exhibition at Milan.
He declined to reveal the size of the acquisition. The 25-year-old Lukaps is the largest capsule maker in Eastern Europe and can produce over 2.5 billion capsules per annum.
ACG would soon triple its capacity with additional investments, said company sources.
The company employs about 100 people and has a turnover of about ¤ 4-5 million. ACG Worldwide has bought 100 per cent equity stake in Lukaps.
ACG Worldwide is a grouping of about six companies, led by Associated Capsules - the world's largest gelatin capsule producer in the world. ACG is also one of the largest manufacturers of pharmaceutical machinery.
The company has a string of technology collaborations with global pharma machinery makers such as Alcan, Brimrose, Honeywell, Proditec, Sarong and Pactech and exports to all over the world.
ACG is also talking to manufacturers in the US and Italy for joint ventures or technology transfer to manufacture more sophisticated machines, said Ajit Singh.
Dr Sudibyo Markus Chairman of the Muhammadiyah Health Committee and students at the Muslim Students Conference hosted by UWS
Director International at the University of Western Sydney Dianne Dwyer and Dr Sudibyo Markus below and representatives from Macquarie University and the University of Technology Sydney
Left to right; Dr Natsir Nugroho , Dr Syafri Guicci and Dr Sudibyo Markus all from the Muhammadiyah Health Committee on a visit to UWS College to discuss English language issues
From left to right: Mr Brian Davies Official Secretary and Chief of Staff to the Governor, Sir Nicholas Shehadie husband of the Governor; Pak Din Syamsuddin Muhammadiyah Secretary General and his Excellency Mr Bill Farmer Australian Ambassador
Her Excellency Governor Marie Bashir with representatives of the International Award for Young People (Duke of Edinburgh Award Scheme)
The smelter, to be known as the Sarawak Aluminium Company, is expected to begin operation by the end of 2010. The smelter would provide approximately 1200 direct jobs and up to 3500 indirect jobs, while adding billions of US dollars to Malaysia's gross domestic product.
Rio Tinto Aluminium already has four smelters in its portfolio, including Australia's largest, Boyne Smelter in Queensland, which produces more than half a million tonnes of aluminium each year from its three production lines. It is expected the new smelter, in which Rio Tinto will own a 60 per cent stake, could be one of the world's largest aluminium smelters.
Asean Focus Group is acting as adviser to Rio Tinto Aluminium for this project.
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The publication, glossy and beautifully presented, profiles Australia's international education industry sectors, including the Australian Council for Private Education and Training (ACPET) as a major sponsor, and a number of other key Australian education providers that are clients of the Asean Focus Group.
The launch was hosted at Sydney University and speakers were introduced by the CEO of Focus Publishing, Jaqui Lane.
Prof Gavin Brown, Sydney University's Vice Chancellor welcomed guests and reiterated that Australian education offers quality and choice. His words stressed that his and the other universities are already differentiated and that Australia's graduates "can be found among the highest achievers in industries around the globe".
Managing Editor of the publication, Michael Fay, picked up Prof Brown's reference to graduates, by noting the importance of alumni not only for institutions, but also for Australia. Turning to acknowledge the private sector, Michael gave the example of ACPET's scholarship program for tsunami victims in Indonesia. The success of this program would have been very difficult without the support of Tengku Silvana Sinar, Director of private education and training in the provinces of North Sumatra and Aceh. Silvana is an alumnus of Sydney University. The Asean Focus Group has been a partner in the Australia Centre Medan, North Sumatra, since 1994.
Dua AFG has been extremely active in the M&A sector in India throughout 2006 and holds a number of active buy and sell mandates for Indian clients.
For further information please contact:
Peter Church,
Managing Director of Asean Focus Group
+61 2 9258 7878
ASEAN Focus Group associate director Michael Fay has been coordinating planning for an important sustainable tourism workshop to be held in Padang, West Sumatra Indonesia on September 4 and 5 2006.
The focus for the workshop is on the Mentawai islands off the West Sumatra coastline which is an emerging area for marine and more recently island based tourism development. Conservation International www.conservation.org has a particular interest in the Mentawai island chain where the island of Siberut is classified as a world heritage biodiversity hotspot-it has uniquely rich biodiversity but is under attack from a range of environmentally destructive practices including illegal rainforest logging, bomb fishing and destruction of coral reefs and mangroves.
With seed funding from the Critical Ecosystems Partnership Fund www.cepf.net and Monash University, the ASEAN Focus Group is preparing the groundwork for the September 2006 "West Coast Ecologically Sustainable Tourism Workshop" (WEST Workshop) which will bring together up to 60 key stakeholders from the Government, private, community and NGO sectors as well as world experts on eco and adventure tourism and Conservation International staff from the Centre for Environmental Leadership in Business www.celb.org.
The workshop has the support of the Government of West Sumatra, the district government of the Mentawai's as well as local universities, NGO's, the private marine and island tourism sector and Padang based tourism service providers. The Mentawai islands offer world class surfing and diving and are home to the rainforest dwelling communities trying to maintain centuries old traditions.
Padang has recently opened a new international airport with direct flights to Singapore, Jakarta and Kula Lumpur. Tourism based on economic and ecological sustainability offers an important source of foreign exchange earnings at a time when tourist numbers in other parts of Indonesia are suffering a significant downturn. With a commitment to sustainability, tourism in the province is likely to takeoff.
The global corporate finance market is performing powerfully, with the number of deals completed by IMAP (International Network of M&A Partners) in 2005 reaching a seven-year high. IMAP is one of the world's leading international M&A networks, comprising independent M&A advisory firms from across the globe.
Fresh research from IMAP shows there were 220 transactions completed by its members in 2005 - more than any year since 1998, and a 16 per cent increase on 2004. Furthermore, the total value of deals, at $4.1 billion, has doubled over the last 4 years. The survey also predicts a robust 2006.
The number of cross border transactions represented 25 per cent of the total number of completed deals. Most notable cross border transactions for IMAP members included Anritsu of Japan acquiring NetTest of Denmark, Amtek Group of India acquiring Zelter GmbH in Germany, and the merger of Pierrel (Italy) and Pharmapart (Switzerland). Anritsu is Japan's largest test and measurement equipment maker with turnover of circa US$790m, Amtek is a leading US$700m turnover automotive components group, and Pierrel and Pharmapart are leading pharmaceutical contract manufacturing and research service providers.
The IMAP research shows that in Europe there were 120 cross border deals, worth $2.23 billion, while North America recorded 94 deals, valued at $1.7 billion, and South America & Asia saw six transactions worth $133 million.
Meanwhile the survey suggests the high level of demand for European acquisitions is set to continue, with 60 per cent of respondents predicting more buyers in 2006.
In North America, the survey emphasises an upsurge in the number of businesses coming onto the cross border market, with 70 per cent of members foreseeing a greater number of sellers in 2006, whilst 95 per cent of members are predicting the same number of buyers as last year.
Peter Church, Managing Director of Asean Focus Group and a member of the Board of IMAP stated "Strategic buyers are back in the European market and private equity remains strong, especially since finance is readily available and relatively cheap. Europe will be an interesting area in 2006, with many interesting cross-border opportunities." Not surprisingly, many IMAP members are expecting to see a continuing increase in the number of buyers from Russia, India and China making acquisitions in Europe and North America.
NEW DELHI: Year 06 is expected to be bigger than 05 for mid market M&A deals around the globe. According to Mark Esbeck, president of IMAP the global partnership of leading M&A advisory firms focusing on mid-sized deals, given the backlog of deals which rolled over into 06 and initial indications from advisory firms the current year could turn out to be even bigger than last year.
According to our members 05 was the busiest year ever in terms of M&A activity. If we look at the lead indicators for this year 06 would be better than 05, he said.
He added, Earlier people were saying 05 would be a good year and in 06 we would see a slowdown but now they are saying 06 would be a good year and 07 would see a slowdown.
Giving a rationale for the bullish tone Mr Esbeck said, M&A is stimulated by large amount of capital and currently large amounts are available for transactions to be completed.
M&A slows down when commercial banks start to experience problems and we havent seen that yet, but indications are that we might see that happening, by the end of 06.
Peter Church, managing director of Asean Focus Groupan IMAP member who is leading the associations activity in the region, said, We see tremendous opportunity in India specially in family owned companies who have over the years become mini conglomerates.
But in the global economy they need to focus on core strengths and strike joint ventures and selloff businesses where they are not competitive. There will be a massive amount of M&A to be done in India and lot of that will be cross border and most would be mid market. Thats where IMAP would fit in.
IMAP is currently looking to rope in Indian M&A advisory firms to broaden its global network. The group works on a partnership basis where member firms in each country and industry co-ordinate with other members for striking cross border mid sized deals. This is facilitated by geographic knowledge of respective advisory firms.
Clearwater Corporate Finance has said it is working with several leading Indian companies looking to make acquisitions in Britain. Indian companies "on the hunt for deals" reportedly include pharmaceutical concern Ranbaxy Labs and the Anand Group.
Representatives of Clearwater, which has offices in Birmingham, London, Manchester and Nottingham, visited New Delhi in January and attended presentations made by Indian businesses. Delegates also visited an Indian automotive show.
Clearwater Birmingham partner Andy Moore told the local media: "The UK is a prime target for Indian businesses and we will now be approaching potential target companies."
Other Indian firms looking to make British acquisitions reportedly include the textiles group headed by Sanjay Dalmia, consumer products focused Godrej, which recently acquired Keyline Brands in Britain, United Phosphorous, an agrochemicals business, and commercial vehicle major Mahindra & Mahindra, which owns Stokes Forgings plus operations in Walsall, Dudley and Brierley Hill.
Peter Church, managing director of Indian IMAP member Asean Focus Group, told the Birmingham Post: "We have been following the Asian economies for a few decades. Asia holds immense potential for the kind of deals that IMAP focuses on.
The International Network of M&A Partners (IMAP) is an exclusive global partnership of leading Merger & Acquisition Advisory firms. Asean Focus Group is a member of IMAP.
"India stands out in particular - it's a deal-making country, is hungry to globalise and follows accounting and business practices in line with international standards."
Recent deals involving Western hemisphere and Indian businesses reportedly include the 80 million pounds acquisition by Indian tea manufacturer Apeejay Surrendra group of Typhoo Tea from the Britain-based Premier Foods.
Satyam Computer Services, the Indian IT solutions and software developer, purchased British software consultancy Citisoft while Crisil, the Indian credit rating services business, acquired Anglo-American equity research company Irevna.
The west Midlands town of Coventry is likely to be a base for a new research centre for Indian conglomerate Tata, which has a longstanding relationship with the city's Warwick Manufacturing Group.
The Tata group is expected to announce its intention to open a European technical centre soon.
source: http://www.hindustantimes.com/news/181_1619199,00020009.htm
Leading mergers and acquisitions professionals from across the globe recently met for high-level discussions with major Indian businesses in New Delhi.
The theme of the talks, organised by IMAP (International Network of M&A Partners) was Helping India Inc Go Global.
Indian companies from the IT, electronics, automotive pharmaceutical, and consumer and industrial products sectors were involved in the two-day meeting, which explored opportunities for cross-border M&A activity between India and the West.
IMAP members have already advised one Indian automotive group Amtek Auto to acquire a leading German machining company, Zelter. Amtek, a leading automotive component manufacturer with operations in India, the USA and Europe, was keen to strengthen its position in mainland Europe.
Representatives from the Indian businesses presented their acquisition strategies to IMAP members. "The quality of the management and the performance of the Indian companies were very impressive. Many are experiencing rapid growth and achieving well in excess of 20 per cent net margins" said Andy Moore, Partner with UK IMAP member, Clearwater Corporate Finance. Indian companies attending the meeting included Godrej Group, Ranbaxy Labs and United Phosphorous.
Delegates also visited the Indian automotive show in Delhi, where a number of other companies discussed their acquisition strategies in Europe and the US.
Peter Church, Managing Director of IMAP member - Asean Focus Group, who helped to organise the event in conjunction with IMAP candidate Dua-AFG said; "We have been following the Asian economies for a few decades now. We are convinced that Asia holds immense potential for the kind of deals that IMAP focuses on. India stands out in particular - it's a deal making country; is hungry to globalise; and follows accounting and business practices that are in line with international standards."
Mark Esbeck, IMAP president, said: "This event has really put IMAP on the map in India and given our members a valuable insight into opportunities in India."
ENDS
Notes to Editors
The International Network of M&A Partners (IMAP) is an exclusive global partnership of corporate finance lead advisory firms. IMAP has unmatched global reach, with 350 dealmakers spread across 31 countries, covering North and South America, Europe and Asia. Globally, IMAP advises on circa 200 completed transactions per annum.
Press inquiries to:
Daphne Lim
Asean Focus Group
Sydney 02-92587878
daphne.lim@aseanfocus.com
The above press release can be downloaded via the below link:
Press Release from IMAP Delhi meeting 310106.pdf
The 2005 ACPET year was memorable for one achievement over anything else. The response by ACPET members to the two phases of our ACPET and Private Provider Scholarship Appeal for victims of the Boxing Day tsunami disaster in Northern Sumatra and the lesser known but devastating earthquake on the Sumatran island of Nias in March this year.
The initial reaction by members to the tsunami was extraordinarily generous. We raised $50,000 and this has all gone to provide scholarships to pay tuition fees for 322 students in Bireun, Banda Aceh province in North Sumatra. These students have all lost their parents and/or homes and the stories are well known to ACPET members through the emotionally affecting presentation at our Adelaide National Conference in August by Tengku Silvana Sinar, Indonesian Government Coordinator of Private Education and Training, and Dr Amiriddrin Idris, the rector of Al Muslim University. Their accounts moved members to help even more. The decision was made to extend our unique scholarship scheme to earthquake victims on Nias.
Over four weeks in November ACPET members generously contributed $25,000 to provide scholarships for students on Nias (a list of the donors and associated sponsors is provided below).
Last week ACPET saw our scholarship scheme in action. ACPET National Chair, Julie Moss, representing the National Board and our 1000 members, visited Medan in Sumatra to officiate at the signing ceremony for the Nias Scholarship Inauguration and to also visit Banda Aceh and meet first-hand the recipients of the Bireun scholarships, now studying at Al Muslim University. A special feature of the time in Bireun was a visit to a displaced persons camp where Julie met with tsunami victims. A sobering experience. Toys donated by ACPET member, the Australian College of Applied Psychology, were distributed to young children at this camp.
Julie was delighted that Minister Gary Hardgrave, Minister for Vocational and Technical Education and Minister Assisting the Prime Minister, accepted the ACPET invitation to be guest of honour at the signing ceremony. Minister Hardgrave was accompanied by Ambassador-designate, Bill Farmer, DEST top official, Jim Davidson, and other senior Australian and Indonesian government officials. Minister Hardgrave acknowledged ACPETs leadership and goodwill to the people of North Sumatra and Aceh by the presentation of a certificate of appreciation personally signed by the Minister.
In meeting and talking to people over the six days of her visit to the disaster-affected areas, Julie formed, on behalf of ACPET, new relationships and built new bridges. This scholarship scheme has created a sense of hope for the people in these areas. The possibility for further education links and programs arising from this scheme is strong.
While in Indonesia, Julie was invited by Minister Hardgrave to participate in roundtable discussions in Jakarta about vocational and technical education in Australia.
ACPET again acknowledges the generosity of its members in contributing to this important humanitarian project. Members can view the special photo gallery capturing the spirit of our scholarship scheme by visiting the ACPET website at www.acpet.edu.au.
ACPETs thanks are extended to Michael Fay of the ASEAN Focus Group and to Michael Stevens, Australian Honorary Consul in Medan, and the Insearch Australia Centre for their help with Julies visit.
(NB. ACPET also acknowledges the special contributions of our sponsors, Austcover and Max Schroder and Julie Hannaford. Julie's visit was made possible by their generosity).
Julie Moss and Minister Hardgrave in Medan sign off on ACPET scholarships (above & below)
Julie Moss with Ms Tengku Silvana Sinar, Private Education Coordinator, North Sumatra and Aceh Provinces
(l-r) Tengku Silvana Sinar (Private Education Coordinator, North Sumatra and Aceh Provinces), Drs Amiruddin Idris (Rector, Al Muslim University, Bireuen, North Sumatra), Tim Smith (National Executive Officer, ACPET), Michael Stevens (Australian Consul in Medan), Michael Fay (ASEAN Focus Group) at the signing of the scholarship agreement in Medan in June.
Minister Hardgreaves presenting Julie Moss with a Certificate of Appreciation to ACPET for provision of scholarships to students from North Sumatra
During the visit, seminars and round tables were conducted with ATBC (New South Wales) hosted by Blake Dawson Waldron, ATBC (Victoria) hosted by VECCI, the Printing Industry and the Electrical and Electronic manufacturers.
We have made the very informative presentations available at http://www.aseanfocus.com/boi.
LONDON, September 29, 2005. The recently concluded IMAP Fall Conference in London was attended by over 150 dealmakers from five continents around the world. Representatives from Argentina, Australia, Austria, Belgium, Brazil, Canada, China, Czech Republic, Denmark, Finland, France, Germany, India, Italy, Japan, Mexico, the Netherlands, Norway, Poland, Spain, Sweden, Switzerland, the UK and the USA were at the meeting.
IMAP member, Asean Focus Group (AFG), was represented by Mr Peter Church (from Australia) and Mr Suresh Iyer (from India) at the conference.
According to Mr Peter Church, AFG's membership in IMAP provides ability for their clients to efficiently identify and secure business opportunities around the globe. While many times this is an acquisition, it can also be the location of a strategic partner. The rapid development of the Eastern European countries, China and India require that companies have access to business in these markets, said Mr Church. IMAP gives AFG this access in a very high quality way.
IMAP member Richard Wottrich, president of DSI Investment Banking Services of Chicago, provided highlights on his recent trip to Beijing, China, where he delivered the lead platform speech at the 2005 Summit of CEOs and Career Managers of Chinese and Foreign Enterprises . There were over 400 Chinese business leaders at this first ever government-sanctioned summit.
IMAP is holding its first Asian conference with Access Capital, IMAP host member, in Hong Kong on January 12 and 13, 2006. There will be a follow-up industry trade trip to India on January 16 and 17, 2006. IMAP is also seeking to build membership in India.
IMAP's Spring Conference will be held in Vancouver, Canada, March 31 to April 5, 2006.
About Asean Focus Group
Asean Focus Group has its primary focus on the business opportunities which lie in Australia, India, China and the eleven member countries of the Association of South East Asian Nations - ASEAN - namely: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam and East Timor. To our knowledge, no other company brings together the same depth of multi-disciplinary expertise and practical business experience in the countries of our focus. We have offices and representation across the countries of our focus. If the Asean Focus Group does not have the relevant technical or other expertise or experience for a specific project, we know where to get it. Established in 1990, we have undertaken extensive hands-on corporate and general advisory assignments, project development work, regional representation and investment throughout the Asian region covering a wide range of sectors. Each month we publish the Asian Analysis e-newsletter offering unparallelled expert commentary on current events and government, social and business developments country-by-country.
About the International Network of M&A Partners
The International Network of Merger and Acquisition Partners (IMAP) is an exclusive global partnership of 60 leading merger and acquisition advisory firms. Each member firm shares a mutual commitment to delivering the highest caliber professional advisory services for middle-market transactions across the globe. The world's oldest global middle market organization, IMAP, and its members, provide strategic merger, acquisition, divestiture and related corporate finance services. Sellers of mid-size companies and corporate acquirers alike rely upon IMAP's global partnership for essential local market knowledge and industry expertise delivered with unparalleled global reach.
Members will recall the appeal ACPET made to our membership about the earthquake and tsunami disasters of 26 December which caused such loss of life and devastation on Sumatra, Indonesia. Our appeal raised $41,400.
In association with Australian Education International, the ACPET National Board agreed to provide the proceeds of our appeal to sponsor private education students in North Sumatra and Aceh provinces of Indonesia, to underwrite annual tuition fees for 322 students for two years at the Al Muslim University Bireuen Regency in Aceh province. These students have all been displaced from other institutions and have lost their parents and/or homes in the disaster.
ACPET is undertaking this project in conjunction with the district government of Bireuen Regency in Aceh and with the Al Muslim University of Nanggroe Aceh Darusallam, and in cooperation with AEI.
Last Tuesday in Medan, North Sumatra, this important agreement was signed by the parties, allowing the scholarship program to proceed. Semester two fees for the 322 students will now be paid by the ACPET scholarship agreement and this will continue until all the affected students have completed their courses. The ACPET National Executive Officer, Tim Smith, represented ACPET at the signing ceremony and ACPET acknowledges the special assistance provided by the Australian Honorary Consul in Medan, Michael Stevens and by Michael Fay of the ASEAN Focus Group.
A full report on this important project will be provided to members at our National Conference in Adelaide in August. Our special guests at the Conference will be Tengku Silvana Sinar, Private Education Coordinator, North Sumatra and Aceh Provinces for the Indonesian National Government and Drs Amiruddin Idris, Rector, Al Muslim University, Bireuen, North Sumatra.
This scholarship scheme is a very tangible illustration of how ACPET members are contributing to help private education students in Indonesia to recover from the dreadful disaster and help re-shape their lives for the future.
NEW YORK, April 4 /PRNewswire/ - Gathering in New York City for their annual meeting, 60 leading merger and acquisition advisory firms from around the globe comprising the International Network of M&A Partners (IMAP) today released data from a study showing they completed 190 deals last year worth more than US $5.8 billion, the highest dollar value in the organization's 11 year history. While the total number of middle market merger and acquisition deals completed was down slightly over 2004, their total value soared by more than 67%. The average transaction size was $30.5 million. In 2003, IMAP members completed 210 transactions worth $3.47 billion.
According to Mark Esbeck, IMAP President, "We expect 2005 to surpass 2004 in almost every aspect. All of the conditions representative of a vibrant M&A market are in place around the globe."
2004 saw selling multiples on the increase again throughout the IMAP network. North American members reported selling multiples of between five and seven times EBIT (earnings before interest and taxes) which was up about ¾ of a multiple from 2003. European IMAP members reported EBIT multiples of between 5.3 and 6.8 times for transactions under $50 million and multiples of 7.7 times EBIT for transactions over $50 million. This was also an increase over 2003.
Other trends emerging from the study include: " IMAP members witnessed an increase above 2003 of foreign buyers and more globalization in the middle market. " The trend of more private equity sellers to private equity buyers is expanding " More buyers are seeking to purchase market share and expand into new markets through acquisition. " Significant money is seeking few high quality deals. " More Asian firms are looking for opportunities to buy overseas.
MBOs dominate in Europe Private equity-backed management buyouts dominated the European M&A market in 2004. Across Europe, the number of MBOs rose significantly. Private equity groups faced little competition and continue to have available resources. Moreover, bank loans were relatively easy to obtain at low interest rates. In the second half of the year, strategic buyers were returning to the market. Due to recovering profitability and improved economic outlooks, European cross border transaction values increased by 20%. "In Europe, the overall climate remains a buyer's market and our expectations for 2005 are optimistic, though some questions remain concerning mid-market company successions, observed Oddbjørn Skredderberget, IMAP Chairman. "We believe corporations will continue to divest non-strategic assets in the coming year and expect to see consolidation among the business services, information technology and financial services areas."
Asia-Pacific economies recover 2004 and the first 3 months of this year have seen a significant increase in M&A activity in Australia and much of Asia. In Asia, this resurgence of activity is a result of a number of reasons, including the recovery of national economies from the Asian economic crises. China and Thailand have powered much of this recovery. Additionally, U.S. and European manufacturers have continued to source more of their manufacturing activities in the region, particularly in China. Finally, "There is growing evidence of a generational change taking place in Asian businesses where the new generation is focused on key business assets and is prepared to dispose of historical (but non-core) assets," noted Ambrose Lam of Hong Kong's Access Capital Limited, an IMAP partner firm. "This is something previous management was unwilling to do. We expect the remainder of 2005 to be extremely busy."
Complete survey results can be downloaded at www.imap.com
About the International Network of M&A Partners IMAP is an exclusive global partnership of 60 leading merger and acquisition advisory firms. Each member firm shares a mutual commitment to delivering the highest caliber professional advisory services for middle-market transactions across the globe. IMAP firms provide strategic merger, acquisition, divestiture and related corporate finance services. Sellers of mid-size companies and corporate acquirers alike rely upon IMAP's global partnership for essential local market knowledge and industry expertise delivered with unparalleled global reach.
IMAP's annual meeting for all its worldwide deal makers is in New York City running through April 5th. IMAP officers and members of European, Asian and NAFTA countries will be available for interviews on mergers, acquisitions and global trade issues. Contact Ingrid Fleming at (515) 282-8019 ext. 208 (ingrid@businesscapitalcorp.com) to schedule an interview and for more information on the meeting.
While about 80% of foreign direct investment ("FDI") worldwide is realized through Mergers and Acquisitions ("M&A"), in China that percentage is only about 5%.
In order to further attract foreign investment, the PRC government in April 2003 promulgated a series of regulations in relation to M&A, such as "Tentative Provisions of Using Foreign Investment to Reorganize State-owned Enterprises" and "Tentative Provisions on Acquisition of Domestic Enterprises by Foreign Investors".
These new regulations, in contrast to previous piecemeal rules, clearly indicate China's willingness to open more space for foreign investment. Foreign investor can merge with and acquire Chinese companies regardless of size (whether large or small) and ownership (whether owned by the State or by private individuals), or even take over a listed company. The encouraging new legal framework covers approval requirement, registration, payment of consideration and procedure to follow when acquiring a Chinese company.
Establishing a "Green Fields" operation has been unequivocally the preferred (and sometimes only) choice for foreign companies entering China.
However, with the relaxation of many industry-related regulations, increasing sales of State Owned Enterprises (SOE) and restructuring of Foreign Invested Enterprises (FIE) in China, the opportunities for Mergers and Acquisition (M&A) activities are booming, and many foreign companies are exploiting the newfound investment methods. At the same time, it is important for foreign companies looking for M&A opportunities to understand the China market, the M&A process and regulations in China and, most importantly, what they are buying and for how much.
China has committed to establishing itself as the manufacturing center of the world. At the same time China's commitment to the WTO will result in an explosion of service industry opportunities across finance, logistics, professional services and other such services over the coming years.
With this rapid opening up of the market, many companies realize that starting a green fields operation may mean they miss the boat. In contrast, taking over a well-established existing company cuts-out the build up phase and cuts the time to market. By acquiring an existing entity the risk of failure may be minimized and the acquiring company may take advantage of existing operating facilities, distribution networks, production knowledge, intellectual property and existing financial and legal structures (e.g. tax losses carried forward, branch offices etc.).
With this in mind and in awareness that many domestic Chinese manufacturers are already producing high quality goods at low cost, foreign companies are beginning to capitalize on China's lucrative manufacturing base. Likewise, as foreign companies restructure and look to spin-off operations there are an increasing number of profitable and efficient FIEs up for grabs.
ASEAN FOCUS GROUP - THE ABILITY TO ASSIST YOUR CHINA RELATED BUSINESS
Asean Focus Group was established in 1990 and has developed into one of the Asian region's leading corporate advisers. Each of our executives has different disciplines and backgrounds, most of which has been gained at senior levels of management, coupled with long and practical experience in Australia and Asia. Asean Focus Group's website sets out substantial information on the group, its services and publications (see www.aseanfocus.com)
We offer clients assistance with their Australian and Asian business plans and opportunities which includes in relation to China:
-Business Advisory - particularly partner selection in new arrangements & problem-solving in existing arrangements (see further description below);
-Corporate Advisory - Acquisitions & Divestments, Corporate Strategy and Capital Raisings;
-Sourcing/Manufacturing relationships in China; and
-Assistance in appointment of distributors or agents
Business Advisory / Assistance and Regional Representation
Asean Focus Group works with its clients in the development of their strategies for entering the markets of Australia and Asia. This includes undertaking feasibility studies, market research, selecting partners, agents or distributors, structuring of ownership and operating relationships, as well as monitoring progress in the implementation of the agreed strategy.
We are also experienced in important support areas such as government negotiations, regulatory issues, the sourcing of finance and related services and dispute resolution.
The Asean Focus Group approach
Asean Focus Group assembles all of the elements required to bring a project to fruition in order to meet a market opportunity in Australia or Asia. This is a dynamic process where success is required in all the key phases. Asean Focus Group is equipped to act as a participant in each phase of the continuum -- from market research, strategy development, selection of a partner, distributor or agent, structuring of the relevant business relationships through to overseeing smooth implementation of the strategy.
Sensitivity, flexibility, the establishment of sound relationships and good timing are cornerstones of business success. Importantly, our experience and expertise has been earned "in the engine room" rather than an "ivory tower". We are practical, not theoretical and are entrepreneurial, not bureaucratic in our approach.
Asean Focus Group - Primary Team involved with China
Peter Church, one of the founders and Managing Director of Asean Focus Group. Peter has had a career long involvement with Asia including many years living and working in the region; initially as a lawyer and since the establishment of Asean Focus Group as a corporate adviser.
Peter Murray who has lived in Shanghai for more than 10 years and elsewhere in Asia for most of his career. Peter is also the resident partner of Ince & Co, a London based international law firm.
Arun Nigam-Möller is based in Hong Kong and is an international banking and commercial lawyer with expertise and long experience in Singapore, Malaysia, Hong Kong, China and India.
Tim Storer who works out of our Sydney and Shanghai offices has lived and worked in China and South East Asia over the past 10 years in both private sector and international development fields.
If you are interested in how Asean Focus Group can assist you in your China business, please contact Tim Storer of Asean Focus Group on + 61 2 8234 7417 or tim.storer@aseanfocus.com
Asean Focus Group is a member of IMAP, the world's leading network of mergers and acquisition firms specialising in the sale, purchase and capital raising of middle-sized companies ('middle market').
As of Friday 10 September, Asean Focus Group Sydney moved to new premises located at:
The Australia Centre Medan which provides services across the language, education and arts and cultural sectors is Australia's multifunctional representative office in North Sumatra. It provides services on behalf of IDP Education Australia, IELTS Australia, the Australian Consulate, and both Insearch and UTS. It has been responsible for recruiting over 2000 students for study in Australia over the last ten years. It currently has over 600 English language students.
Australia Centre Manager and Honorary Consul for Australia Mr Mick Stevens and Australia Centre/Insearch Language Centre co founder and UTS Honorary Fellow Mr Michael Fay spoke at the reception for over 130 invited guests. Mr Fay presented an award to senior student counsellor Ms Irene Dewi who has worked at the centre since it started in 1994.The Chairman of the Yayasan or Foundation under which Insearch operates in Indonesia, Mr Harjono Kartohadiprojo and the new deputy chairman Dr Hadibroto were warmly welcomed at the reception.
During the 3 day AII board meeting Mr Fay provided a briefing on the background to the Australia Centre Medan operation. The Australia Indonesia Institute, which is chaired by former Australian Ambassador to Indonesia and AusAID Director General Mr Philip Flood, is made up of key Australian representatives from the arts, education, business and media sectors. A closing night dinner was hosted for the Board by Mr Mick Stevens.
Mr Harjono is also the President Director of PT ASEAN Focus Indonesia.
IMAP is the the worlds leading network of mergers and acquisition firms specialising in the sale, purchase and capital raising of middle market sized companies.
Whilst IMAP has over 60 member firms globally, the vast majority of these firms are based in the USA and Europe. Asean Focus Group is one of only 3 firms in the Asian region that are members of IMAP.
With our network of offices and representatives in all major/capital cities of countries in South East Asia, India, and China, Asean Focus Group covers business opportunities for IMAP across the Asian region and Australia.
Through the IMAP network, Asean Focus Group can also enable companies in Asia and Australia to access a global base of business opportunities, be they sale of companies, acquisitions of companies and capital raising, as well as forming business partnerships.
If you are interested in how Asean Focus Group can assist you into Asia or Australia or how you could access the IMAP network, contact:
Tel: +61 2 8234 7488
Fax: +61 2 8234 7499
Email: peter.church@aseanfocus.com
Asean Focus Group Education sector specialist and Associate Director Michael Fay initiated this ABC link with the International Education sector and believes it provides a model for other locations across Asia. He said this exhibition comes at a crucial time in the Australia Indonesia relationship, the presence of ABC Asia Pacific Television alongside and in support of the Australian Education sector is both timely and appropriate.
Later in 2003 Team Australia education sector exhibitions will be organised in Hong Kong and Malaysia by Austrade and AEI. The presence of ABC Asia Pacific Television as a core component of Team Australia at these events will add further strength and profile. In October this year the 17th Australian Education International Conference organised by IDP Education Australia will be held in Melbourne with over 1000 participants expected to attend from over 40 countries. ABC Asia Pacific Television will be a conference sponsor and Radio Australia will deliver some outside broadcasts from the conference to an international radio audience.
Michael Fay believes that the growing links and strengthening relationships between the ABC and the International Education sector will help both groups project themselves more effectively to target audiences in the Asia Pacific region.
The International Network of M & A Partners (IMAP) recently released its transaction survey confirming that outstanding companies continue to sell at attractive multiples. Even though merger and acquisition industry activity statistics for 2002 werent notable, a review and discussion of these survey results by members of IMAP shows several developing positive international trends. Reporting on key industry surveys, Asean Focus Group said that for transactions under $100 million, both the number of transactions and average selling price were down. Middle market companies that sold during the last twelve months tended to be either outstanding or troubled. At the lower end, many transactions involved distressed companies selling at liquidation values. Companies with moderate performance sat on the sidelines distracted by geopolitical issues, accounting issues, or the economy.
What are the Opportunities Today?
Current middle market M & A is very active as companies continue buying with a focus on their core business. Private equity groups are highly interested in add-on acquisitions to increase the value of their portfolios, and are regaining interest in new platform companies. Divestiture of divisions of larger companies is increasing.
Peter Church, Asean Focus Group, Australia, reported that, Most of the currencies in the Asia Pacific region are depressed. Therefore, Euro and US dollars can buy more right now. Many Asian countries had restrictions on foreign investors but those restrictions have been relaxed. When the economy improves, restrictions are likely to return. There is a window of opportunity for European and American companies to invest in Asian and Pacific companies now.
Nick Merkel, Merkel and Associates, Cleveland, Ohio added that Private business owners in the U.S. have been indoctrinated that this is a lousy market in which to sell. But in the last six months there has been an increase in M & A activity among private business owners who have to sell for non-economic reasons. The IMAP transaction survey shows that good companies still sell for premium prices.
What Does the Future Hold?
There is a pent up desire to sell because many companies and private equity groups sat on the sidelines the past few years. Some private company owners deferred plans to retire but are now growing more motivated. Private equity groups, who held back on normal divestiture plans, now feel able to proceed because of improvement in the lending environment.
Although the near-term outlook is unsettled due to economic uncertainty. Stephen Bennett, Buckingham Corporate Finance, United Kingdom comments, Uncertainty is creating opportunity. Many owners who were reluctant to sell because times are difficult now want to sell because they believe next year may be worse.
However, Mike Simon, ACS Corporate Finance, New York noted, We see M & A activity as a leading economic indicator. It leads in both recovery and recession. In the first half of 2001, proposal activity declined because companies had no interest in buying or selling. There are more proposals in the last six months than in the prior two years.
Although middle market buyer demand is returning, it is limited to highly strategic targets. There is an increased supply of companies willing to sell. Oddbjorn Skredderberget, IMAP President, stated that In Norway and throughout the world, sellers are accepting lower prices and spurring the M & A market. Industry buyers have adjusted to lower demand in the market and are willing to make concessions. Stabilized company valuations indicate that owners accept that the bubble is gone and not coming back in the next few years.
What is occurring in international markets and the public market has an effect on private companies. With IPO markets less accessible, traditional M & A options may be the only exit routes available. The discussion reaffirms the IMAP survey findings that privately held businesses with strong performance are selling at attractive multiples in the US and in most international markets.
For more information please contact:Peter Church at Asean Focus Group, Tel +61 2 8234 7411 or e-mail peter.church@aseanfocus.com
Autodesk has partnered Asean Focus Group (AFG) to leverage its experience in the Brunei and Indonesian markets to increase the penetration and market coverage of their suite of design products. Autodesk is one of the world's leading digital design and content companies serving customers in industries where design is critical to success: building, manufacturing, infrastructure, digital media, and location services. The product suite distributed by AFG includes staples such as ADT, Inventor and MCAD in addition to the new parametric design software : Revit.
AFG Director Glen Robinson: We were asked by Autodesk to advise and assist them to sell their top selling products to Indonesia and Brunei
On an initial survey we saw that there was an opportunity to broaden the market coverage and increase the penetration which would lift the existing market share for this blue chip software company, and its range of cutting edge products.
He added We identified the various market segments and within each we have identified a significant customer base. Part of our role is to appoint product Resellers who could connect with this market, and consequently, we saw that Autodesk had a history of working closely with the professional industry bodies, and our new Reseller model has re-established these links. For example we have appointed the commercial arm of the Ikatan Arsitek (Institute of Architects) Indonesia as Reseller for the full suite of architectural products. In addition to their core training role they are now actively marketing software to their Architecture membership base and key players in the construction industry
Peter Church, Managing Director of AFG commented We are thrilled to add such a quality brand like Autodesk to our stable of clients. They have a solid marketing infrastructure and combined with our local resources and knowledge we see a great fit in these two marketplaces
AFG has appointed Michael O Brien to provide technical resources to both Indonesia and Brunei. Michael said I am enjoying training the resellers in the new wave of parametric products. They are enthusiastic and I have had the opportunity to go with them to the marketplace. The skill sets are high in the government, university and private sectors and with the appropriate tools and training, the sky is the limit
