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CLMV (Cambodia, Laos, Myanmar and Vietnam) Projects and Finance Update

August 06, 2019 - 8.30am - 12.00pm
Location: Oriental Ballroom 2, Mandarin Oriental Hotel, Singapore

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CLMV (Cambodia, Laos, Myanmar and Vietnam) Projects and Finance Update
8.30am to 12.00pm, 6 August 2019
Oriental Ballroom 2, Mandarin Oriental Hotel, Singapore

Southeast Asia’s so-called “CLMV” markets, comprising Cambodia, Laos, Myanmar and Vietnam, offer more growth potential in a number of sectors than almost anywhere in Asia. In this highly practical seminar, local legal expert VDB Loi combines a detailed deal round-up with practical experience on getting financing deals through. Which energy or infrastructure projects are going ahead? Which sectors move the most? Which projects are the next to be seeking international lenders in Myanmar, but also Cambodia, Laos and Vietnam?

Through case studies and real life examples, VDB Loi explains how to best structure financing deals, what are common due diligence challenges, which projects actually receive sovereign guarantees, and how debt is enforced in default situations.

HIGHLIGHTS

  • The brand new Myanmar LNG/gas power rental tender
  • Update on planned hydro power projects in Laos
  • Which power projects are in the pipeline in Cambodia?
  • Case study on structuring options of LNG/gas to Power in Myanmar
  • Update on the Hanoi-Ho Chi Minh City hi-speed railway
  • Real life case study project financing in Laos
  • Sovereign guarantee regional updates
  • Who is bidding on the Yangon Expressway PPP?
  • Hot topics on enforcement and security in CLMV

PROGRAM

TIME TOPIC
8.30am – 9.00am Registration
9.00am – 9.10am Welcome Address & APLMA Initiative
Andrew Ferguson
Chief Executive Officer, Asia Pacific Loan Market Association
9.10am – 9.20am CLMV Projects and Finance Update

  1. Deal roundup

    • Cambodia
      • The Government’s new tender for a 100MW PV (solar) plant
      • Stake in an existing coal-fired plant for sale
      • Financing acquisition of microfinance institutions 
    • Laos
      • Transmission line financing update
      • Hydropower projects update 
      • What is the status of the Lao-China expressway?
    • Myanmar
      • LNG to Power and hydropower projects progress update
      • Now allowed: acquiring a 35% stake in Myanmar banks and insurance
      • Update on Yangon Elevated Ringroad project and other PPPs
      • Retail and wholesale liberalized
      • Key Points of Myanmar’s New LNG/Gas Power Rental tender
    • Vietnam
      • The Hanoi-Ho Chi Minh City hi-speed railway project
      • Cai Mep Terminal project and opportunities in the port sector
      • Industrial infrastructures in Vietnam (Steel and warehouses)
      • Renewable Energy opportunities (Solar power generation plants)
9.20am – 9.40am
  1. Due diligence case studies
    • Acquiring a stake in a Myanmar bank: what to expect in the due diligence?
    • Case study: Financing of a medical facility in Laos
    • Financing the acquisition of a stake in a producing power asset in Cambodia
    • Lessons learned from the Xe-Pian Xe-Namnoy dam collapse in Laos
    • Case study: what went wrong with this (canceled) expressway project in Vietnam?
9.40am – 10.00am
  1. Deal structuring
    • Financing the acquisition of a large MFI in Cambodia: Case study in deal structure
    • How to best structure an LNG to power project in Myanmar? FSRU, LNG supply, surprising tax rules
    • Case study: Tax efficient structure for an infrastructure project financing in Vietnam
    • How to structure a transmission line financing in Laos?
10.00am – 10.20am Break
10.20am – 10.40am
  1. Local approvals and government guarantees
    • How is the new regulation on PPP and Government guarantees in Myanmar affecting current projects?
    • How workable are Vietnam’s new Government guarantee rules?
    • Case study: Approval package for financing an expressway in Laos
    • Cambodia’s tax rules on approving foreign loans
10.40am – 11.00am
  1. Security package and debt enforcement

    • Security package for a solar plant in Cambodia: registration and enforcement issues
    • Real lessons learned from the first High Court and Supreme Court cases in Myanmar on foreign arbitration
    • Case study on enforcing security in Laos as a foreign lender
    • Litigation and debt enforcement experiences in Vietnam all foreign lenders should be aware of
11.00am – 11.20am South East Asia Project Finance Overview
[to be presented by APLMA PF Committee Chair/ SMBC representative]
11.20am – 12.00pm

Panel Discussion:

  • Debt on security enforcement in CLMV: The Achilles heel?
  • Is there a trend towards less rather than more foreign exchange restrictions?
  • Sovereign guarantees: Country differences and practical insights

Moderator:

  • Edwin Vanderbruggen

Panelists:

  • Jean Christophe Levens, Senior Advisor of Bred Singapore
  • Maxim Kobzev, Counsel, VDB Loi
  • Yash Shah, Senior Vice President, Global Structured Finance, SMBC
  • More to be announced…

SPEAKERS

Edwin Vanderbruggen
Senior Partner, VDB Loi
Edwin is the senior partner of VDB Loi and a leading foreign legal advisor living in Myanmar since 2012. A frequent advisor to the Government on transactions and privatizations in energy, transportation and telecom, he is widely recognized for his “vast knowledge” (Legal 500) and his ability “to get difficult things through the bureaucracy ” (Chambers, 2016). He advises international financial institutions on their largest Myanmar transactions, oil and gas supermajors, a greenfield multi- billion US$ telecom project and the Japanese Government on the Thilawa SEZ. He assisted two newly licensed foreign banks setup in Myanmar, acted for the sponsor of an 800MUS$ urban infrastructure PPP project and worked on 6 out of 7 power deals inked in 2016.
Andrew Ferguson
Chief Executive Officer, Asia Pacific Loan Market Association

After a career in the banking industry spanning 39 years (Bank of America, BNP Paribas, HSBC, ANZ), Andrew established a consulting business in Hong Kong in 2012, of which several large and well- known companies and law firms became clients. He delivered the APLMA Certificate Course in Hong Kong, Singapore and Sydney in 2016-17 and then undertook an intensive research project for the APLMA in 2017 before becoming Advisor to the Board of APLMA in February 2018. He was appointed as Chief Executive Officer of the APLMA in November 2018.

Andrew was educated at Southampton University in England and the London School of Economics, is an Associate of the Chartered Institute of Banking, a Fellow of the Hong Kong Institute of Directors and twice served as the Chairman of the Hong Kong Capital Markets Association.

Maxim Kobzev
Counsel, VDB Loi
Maxim is counsel with VDB Loi finance team. His practice focuses on cross-border and local project financings, corporate loans, pre-export facilities and restructurings. Maxim advises both borrowers and lenders, commercial banks, corporations and development institutions with particular focus on complex projects in the banking, infrastructure, oil & gas, mining and metals and manufacturing sectors and transactions in the emerging markets.

PANELISTS

Yash Shah
Senior Vice President, Sumitomo Mitsui Banking Corporation
Yash has more than 11 years of financial advisory, loan structuring and arranging experience with expertise in Infrastructure, Power, Oil and Gas and Mining. Yash has worked on several successful advisories such as – Project Waterfall, Project Kimi, Hasang Hydro, Kraken FPSO amongst others and large scale financings like – Oyu Tolgoi, Central Java IPP amongst others.

He holds a MBA, India Institute of Management (IIM), Lucknow – India, and a Bachelor of Engineering, Electronics and Communication, Nirma Institute of Technology, India. He is also a CFA Charterholder.

Jean Christophe Levens
Head of Structured Finance, International department, BRED Banque Populaire
Jean-Christophe has more than of 25 years of experience in structured finance and capital markets in Asia Pacific, as head of project&public finance or infrastructure & energy team for commercial and investment banks in Singapore, Sydney, New Delhi. Now based in Phnom Penh, he is in charge of creating and developing a structured finance, advisory and distribution activity for BRED Banque Populaire focusing on frontier markets in Asia, Pacific and Eastern Africa. Jean-Christophe holds a master degree in law from Pantheon Sorbonne Paris 1 and is graduate from Paris Institut d’Etudes Politiques.

VDB Loi is a network of leading law and tax advisory firms with offices in Cambodia, Indonesia, Laos, Myanmar and Vietnam.
Our general areas of practice are corporate, finance, licensing and disputes. Our principal specialized areas of practice are energy, infrastructure, real estate and construction , telecom and taxation.

EVENT DETAILS

Date:
6th August 2019

Time:
8.30am – 12.00pm

Location:
Oriental Ballroom 2, Mandarin Oriental Hotel, Singapore

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If you have any questions, please contact Thiha Zaw (thiha.zaw@vdb-loi.com.)
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