Global Ports Forum

Executive Workshop on Multi-Purpose Terminal Business & Operations, 11-12 Aug 2016, Singapore

August 28th, 2016

Global Ports Forum presents – Executive Workshop on Multi-Purpose Terminal Business & Operations, 11-12 Aug 2016, Singapore

Key Learning Outcomes

1) Understand the multi-purpose port business

2) Understand the port marine services, port facilities usage and its charges.

3) Understand how the port activities are organised to interface with one another

4) Understand the ship side operations

5) Be aware of the importance of ports being managed as commercial enterprises irrespective of their ownership.

6) Understand the port tariff, order to cash process and the port billing.

7) Business Process outsourcing and choosing a contractor

8) Guidelines for Abandoned cargo

About the Course

This 2-day course is aimed to provide a deep understanding of the subject matter.

The course is based on a real Multi-Purpose Terminal project; the details have been altered for commercial secrecy. Video clips, slides and demonstration will be presented during the course.

Course Outline

Start a multi-purpose terminal – greenfield
Terminal User and value added services
Equipment used in Multi-purpose terminal
Types of Marine services
Terminal facilities usages
Ship side operation, gate in/out
Port Tariff
Order to Cash process and the terminal billing
Demo: Port billing system
Terminal operating system(TOS)
Outsourcing – stevedoring services
Abandoned cargo
Dangerous Cargo
Security and Safety

Who should attend

Both Finance and operation managers above of:

Port Authorities;

Port Operator;

Shipping Companies;

Shipping Agencies;

Logistics Companies;

Freight Forwarder;

Port equipment’s suppliers;

Importer/exporter

Stevedoring services provider.

About the Course Director

Mr Ng Koon Seng (FCA Singapore, FCCA UK, FCPA Australia) has over 30 years of experience in a global logistics, ocean freight operations and container transportation conglomerate. He has a wealth of international experience from his career in shipping, global container equipment operation; process Optimization, end to end finance system setup for the shipping business start-up operation, transformation, change management, merger & acquisitions and divestures. He was engaged by Jurong Port Pte Ltd in year 2014 as a Finance system lead and business process consultant for a Joint Venture start up Port/Terminal project, providing finance IT project management and translate user requirements into solution concept, prepare training manuals specific to each finance processes and setting up the finance organization, Multi-Purpose Port/Terminal billing system and implementation of the real time integrated Enterprise financial full system from scratch through end to end finance process innovation and design, develop innovation and out-of-box solutions, lean and digitize, user & finance-friendly administration, workflow integrated for Marunda Center Terminal – PT. Pelabuhan Tegar Indonesia, the 1st private international & domestic multi-purpose seaport which focusing in General Cargo & Bulk Cargo (dry & liquid) in greater Jakarta area. The port is a joint venture between Marunda Center Industrial Estate (www. marundacenter.com) Indonesia and Jurong Port Pte Ltd (www.jp.com.sg) a leading international multi-purpose port operator in Singapore. The integrated port billing and finance system is up and live in Marundra Center Terminal.

He was also tasked to do research on the Ports in Thailand, training, financial modelling with Activity-based costing Analysis for the Aggregates and sand Terminal project.

Mr Ng spent 25 years of his career with NOL/APL, a world leader in shipping and logistics services with annual turnover of US$8b., holding various senior management positions from liners services, special cargoes, freight forwarding, shipping agencies, manage PSA’s appropriated Berth scheme for shipping consortia to global equipment operation including M&A of APL, lead Post Merger integration and transformation of the NOL/APL global equipment operation, depots, trucking, rail, land and intermodal operation which involved more than US$1.5 Billion worth of operational cost globally. Head of the NOL global equipment management and achieved significant hard core saving per company’s testimonial thru dynamics operational modelling. He was also appointed as deputy general manager of its container/reefer/tank depots, fully automated warehouse (ASRS) & 3rd party cold chain Integrated FMCG Logistics, warehouses and distribution services based in Singapore. He was sent to china as deputy general manager partnering with the local management team for the setting up of the Joint Venture Shipping Services, business and operation control. He was the chief accounting officer of NOL group corporate Accounting and head of group consolidation of more than 200 of NOL’s shipping/vessel/port related subsidiaries, associated and Joint venture companies globally. Lead and manage M&A project for the acquisition of a major shipping logistics corporation in China.

Mr Ng is a Fellow Chartered Accountant from Institute of Singapore Chartered Accountants, Fellow of Associate chartered Certified Accountant of UK and Fellow Certified Public Accountant of Australia. Beside undertake project work in shipping and finance, research and coaching, Mr Ng currently doing research in the area of dynamics modelling on port operation, global container transportation and empty repositioning, business process optimization, dynamics company cash flow planning and forecasting.

Costs:

On or Before 11 July 2016: The ‘Early Bird’ Rate is S$2895 – Save S$400!
Special Offer! – 3 Delegates For The Price of 2 in This Category! Save S$2895!

From 12 July 2016: The Regular Rate is S$3295

Special Offer! – 3 Delegates For The Price of 2 in This Category! Save S$3295!

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

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.

List of Upcoming GPF executive workshops include:-

Executive Workshop on Multi-Purpose Terminal Business & Operations, 11-12 Aug 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/global-ports-forum-presents-executive-workshop-on-multi-purpose-terminal-business-operations-11-12-aug-2016-singapore/

Executive Workshop on Ports Financing and Investing, 11-12 Aug 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/global-ports-forum-presents-executive-workshop-on-ports-financing-and-investing-11-12-aug-2016-singapore/

Executive Workshop on Global Trade, Macroeconomic Policy and the Impact on Regional Trade and Shipping, 1-2 Sep 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/executive-workshop-on-global-trade-macroeconomic-policy-and-the-impact-on-regional-trade-and-shipping-1-2-sep-2016-singapore/

Executive Workshop on Key Fundamentals of Shipping, 8-9 Sep 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/executive-workshop-on-key-fundamentals-of-shipping-8-9-sep-2016-singapore/

2^nd Executive Workshop on Strategic Planning for Ports & Terminals, 26-27 Sep 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/global-ports-forum-presents-workshop-on-strategic-planning-for-ports-terminals-26-27-sep-16-singapore/

Executive Workshop on Bulk Liquid Terminals, Commercial Considerations for Investment & Financing, 29 – 30 Sept 2016, Singapore

globalportsforum.com/global-ports-forum-presents-executive-workshop-on-bulk-liquid-terminals-commercial-considerations-for-investment-financing-29-30-sept-2016-singapore/

Executive Workshop on Excellence in Port Operations, 3-4 Oct 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/global-ports-forum-presents-executive-workshop-on-excellence-in-port-terminals-operations-3-4-oct-2016-singapore/

2^nd Executive Workshop on Investment Strategies for Green / Brown Field Port Projects, 6-7 Oct 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/global-ports-forum-presents-executive-workshop-on-investment-strategies-for-green-brown-field-port-projects-29-30-sep-2016-singapore/

2^nd Executive Workshop on Multi-Purpose Terminal Business & Operations, 13-14 Oct 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/2nd-executive-workshop-on-multi-purpose-terminal-business-operations-13-14-oct-2016-singapore/

Executive Workshop on Use of Technology for Ports and Terminals, 27-28 Oct 2016

globalportsforum.com/forthcoming-gpf-executive-programmes/global-ports-forum-presents-executive-workshop-on-use-of-technology-for-ports-and-terminals-27-28-oct-2016-singapore/

2^nd Executive Workshop on Ports Financing and Investing, 3-4 Nov 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/2nd-executive-workshop-on-ports-financing-and-investing-1-2-nov-2016-singapore/

Executive Programme on Achieving Excellence in Winning Deals & Effective Sales Management – Proven Techniques & Insights for Ports & Terminals, 7 Nov to 11 Nov 2016, Singapore

globalportsforum.com/forthcoming-gpf-executive-programmes/exclusively-by-global-ports-forum-executive-programme-on-achieving-excellence-in-winning-deals-effective-sales-management-proven-techniques-insights-for-ports-terminals-7-nov-to-11-nov-2016/

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

#26-04

International Plaza

Singapore 079903

Website: www.globalportsforum.com/

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 30 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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Executive Workshop on Ports Financing and Investing, 11-12 Aug 2016, Singapore

August 28th, 2016

Global Ports Forum presents – Executive Workshop on Ports Financing and Investing, 11-12 Aug 2016, Singapore

About the Course

Intense, participative learning about all aspects of Ports related corporate finance in five modules with defined learning objectives, subject content, simulation among participants and deliverables by participants over a 2 day period.

The end of the course each participant will go away with a clear view how each component of Ports Corporate Finance works and how it links with every other part of the business.

Module One – Financial Analysis – using PSA/ APM Terminals/ DP World As Case Studies
Module Two – Port Concessions – using a live bid document
Module Three – Debt Financing in Ports – Business Analysis, Project Financing, Re financing, Case Study – APM Terminals,.
Module Four – Preparing an Equity Investment Case, ending with a simulation exercise on preparing for PSA’s IPO.
Module Five – Port M&A, ending with a preparation of a M&A pitch and an acquisition approval presentation to a Board of Directors

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 trainer during the course.

After course

Trainer available for follow up emails, questions on phone.
Distribution of discussion materials.
Form a participant only online group.
Video recording / transcript distribution?

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 Director

Rahul Saikia, Director Corporate Finance & Investment Banking (CFIB), at Pricewaterhousecoopers India, is a Ports & Logistics focussed Investment Banking professional for the last 14 years with transaction closure track record across global M&A, IPO, Private Equity, Debt raises, refinance, concession transactions across ports.

Select Ports Corporate Finance Experience

Recent Global Advisory Roles
- Sale of Container sea port in Jamaica, Refinancing Dry Bulk port in Canada, Infrastructure Fund investment into an Oil Terminal in UK
Maritime IPO
- Mundra Port IPO – $380 million, 2007, Pipavav Shipyard (now Pipavav Defence & Offshore) – $100 million, 2009
Maritime Private Equity Raises & Strategic Transaction Advisory
- Mundra Port – Private Equity raise of $62 million, 2005, Sea King Infrastructure Limited (SKIL) Private Equity raise from AIG Investments – $50 million, 2008, Included preparation of business plan for ports, logistics & shipyard, Shell Hazira LNG – Entry strategy & transaction adviors for Total

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

Module one – 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
Cash based interest coverage
Capex expansion – maintenance vs. investment capex
Free cash flows and net financing requirements
Leverage multiples

M&A Accounting Overview – Merger – Acquisition accounting overview

Module Two – Port Concessions

Port – the land lord & its Customers
Port master planning – overview
Inventory of a port
What do customers/ sub concessioners expect from the Port Authority
CONCESSIONS: Models & Players
The different Port Models
Port privatization issues methods and constraints
Criteria of a port Authority to award a concession to a terminal operator
- Views towards future expansion
- Experience
- Financial results
- Existing clients/potential clients
- Employment in the past and the future
- Business plan
The needs of the port customers
The cost of a port
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

Module Three – Debt Financing in Ports Businesses – Business Analysis, Project Financing, Re financing, Case Study – APM Terminals

Analytic Overview

Purpose: quantification of borrowing amount by a Port Business and use of funds
Payback: link credit assessment to primary and secondary sources of repayment
Risks to repayment: the need for Port as a sector and Port company analysis to evaluate debt servicing ability
Structure: assess the ability of the debt to meet the commercial needs of the identified Ports business while protecting lenders’ interest

Market Indicators of Credit Risk

Credit ratings – Review, analysis of at least five Port business ratings reports
Debt market indicators: bond spreads vs. rating curves and CDS pricing
Equity signals: share price movements and key multiples – linked to Equity modules
Risks to Repayment

Macro considerations

Operating environment
Influence of social issues
Government intervention and regulation
Political and sovereign risk.

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

Financial strategy

Corporate treasury objectives:
Risk appetite of capital providers
External rating maintenance
Tenor matching, funding and liquidity and refinancing needs
Alternative sources of funding: trade, bank debt, capital markets, structured finance, equity etc.

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
Ranking: different ways to achieve seniority or pari passu ranking vs. other capital providers
Safeguards: the use of financial and non-financial covenants to mitigate risk
Pricing fundamentals: bond prices, swaps and CDS.

Deliverable – Credit note on a financing, refinancing proposal by APM Terminals

Module Four – Preparing an Equity Investment Case

Land lord & Terminal Operator
Analysis of one PE and one IPO concluded transaction
Preparing the investment case
Preparing transaction documents – IPO, Private Equity
Following a listed company – Earnings call, analyst notes for building investment cases, generating transaction ideas

Simulation – PSA IPO

Participants to be divided into Groups – PSA offeror, Investor Groups, Bankers, Lawyers

Preparing for PSA’s IPO
Investment case
Pricing
Investor targeting

Module Five – Port M&A

Overview of M&A activity in Ports
- Trends in Landlord Ports, Terminal Operators
- Building a case for M&A
M&A & Strategy Linkages
Originating M&Q transaction
Financial Analysis, Valuation & M&A Pricing
M&A Due Diligence
M&A Stricture & Documentation
M&A Integration

Simulation & Deliverables

Pitching for a M&A mandate
Making an acquisition note for Board Approval