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AWR Lloyd
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Oil & Gas

AWR Lloyd works with clients throughout the oil, gas and chemicals value chains in the Asia-Pacific region from upstream resource planning through midstream logistics and trading to downstream refining, marketing and distribution strategies.

Our oil, gas and chemicals sector clients have included Saudi Aramco, Kuwait Petroleum, Chevron, Hess, CNOOC, MPRL, Ophir, APICO, BG, GDF Suez, Woodside, Petrovietnam, PTT, Bangchak, SK and KNOC.

We leverage the firm’s in-depth industry knowledge and capital markets network to provide clients with the highest quality strategic and financial advisory services, including securing strategic investors, preparing for IPOs – and M&A advisory work.

AWR Lloyd also provides country-focused or regional studies analyzing the structure of corporate control, resources, reserves, refinery technology, oil storage capacities and vessel access, capital cost and operating cost estimates, trade flows and demand dynamics. We can provide long range analysis, particularly for demand and trade flows to into and within the Asia-Pacific region for crude and petroleum products.


Upstream Oil & Gas

AWR Lloyd and its principals have worked extensively with the upstream oil and gas sectors worldwide. We combine decades of front-line oil and gas industry experience with top-tier strategy consulting skills. The firm supports clients in conventional resource development as well as formulating strategies and completing transactions in unconventional sectors including oil sands, shale gas and coal-bed methane.

AWR Lloyd has advised on the valuation of a number of upstream oil and gas acquisition targets in Southeast Asia and South Asia and supported due diligence reviews. We have helped projects secure new strategic partners and have provided economic and market analysis for feasibility studies. We have also helped clients develop and implement commercial optimisation strategies in the region.


Midstream & Downstream Oil & Chemicals

For over a decade and a half, AWR Lloyd has actively promoted the development of oil storage terminals and underground rock cavern storage projects and brownfield expansions in Southeast Asia outside Singapore to meet the growing demand for imports, refinery reserves and trading storage. In particular we have extensive experience in supporting terminal and storage clients in feasibility studies, capital-raising and transactions in Vietnam, Thailand, Indonesia and India.

AWR Lloyd also has experience in advising on the development of oil and gas trading and procurement businesses in Asia. For example we advised a Southeast Asian refining and distribution group on the development of a new oil trading business – and we have been advisor to the Singapore subsidiary of one of the world’s leading oil trading companies for many years supporting their physical and derivatives trading strategies in Southeast Asia. AWR Lloyd has also worked with Asian mining and power companies in relation to oil and gas procurement, logistics and hedging strategies in Indonesia and the Greater Mekong region.

In the oil refining, chemicals and marketing sectors AWR Lloyd has conducted numerous assignments for clients in India, Thailand, Indonesia and Vietnam. For example, we have worked for a global oil and gas group in assessing potential acquisition and investment targets in the Indian oil refining and downstream sector. We supported a Middle Eastern client in the feasibility assessment of a greenfield refinery and 2 million barrel per day pipeline in Thailand. We have conducted feasibility study work for a Korean consortium in relation to a 300,000 bpd refinery project in Vietnam. In Thailand we have worked for most of the large refining companies including in-depth strategy consulting reviews, new business venture planning and IPO-related work.

To help clients further develop ventures and projects in the midstream and downstream oil and chemicals sector in Southeast Asia and South Asia, AWR Lloyd has incubated and spun-off an affiliate, Indochina Energy [link] to provide development and management services for its clients.


Midstream & Downstream Gas & LNG

AWR Lloyd is a leading strategic, financial and commercial advisor to gas and LNG players in Asia. Our clients have included large corporations such as Petronas, Apico, Australia LNG, British Gas, Power Seraya and Sojitz as well as government authorities.

AWR Lloyd has conducted multiple downstream studies on the LNG markets of Thailand, Vietnam, China, Singapore, Korea and Malaysia as well as global studies. Our analysis focuses on regional demand, supply and prices but also includes regulatory assessment, value chain analysis, technical and economic modeling of the gas value chain, logistics analysis and on-the-ground due diligence.

For example, when a Southeast Asian gas utility was reviewing development of a receiving terminal and importation of LNG, AWR Lloyd was asked to undertake a review of supply options and tariff scenarios for the terminal and pipelines and forecast the end user domestic gas price. The study reviewed the current status of the LNG market, supply options for contracts commencing between 2015-2020, likely pricing, a review of key contracting terms, shipping considerations, a model of the receiving terminal and a determination of tariffs along each link of the onshore value chain culminating in an outlook for retail prices.

AWR Lloyd was retained by a US oil major to undertake negotiations with PTTEP regarding a 20-year gas supply agreement after assessing the gas and power sector in Thailand. A Thailand LNG market study was conducted for an Asia-Pacific oil and gas group to assess market credit risks and help them position themselves for LNG sales in Thailand. Our team advised the Thai government on domestic gas policy to help reform the industry.

We advised three Singaporean incumbents on the strategic and commercial impact on their business of the entry of LNG into the Singaporean market. In Malaysia, we provided a group with gas monetization options which led to negotiations with Petronas. In Vietnam, we conducted a study for PV Gas, the state-owned monopoly. We have also performed a number of LNG market studies in Northern Asia providing our clients with an overview of the global LNG market with forecasts of demand and supply.

Mining & Metals

AWR Lloyd’s principals bring with them many decades of experience in the mining and metals sectors worldwide as industry executives, fund managers, advisors and strategy consultants. AWR Lloyd has been active in the Asia-Pacific mining and metals sectors since the firm’s inception working on M&A transactions, corporate finance, strategic planning and investor relations.

 

Mining & Metals: Energy, Industrial & Strategic

AWR Lloyd works with clients in the coal, uranium, industrial minerals and strategic minerals and metals sectors on industry studies, M&A transactions, capital-raising assignments and strategic planning.

With accelerated growth in the solar, electric vehicles and battery sectors, a number of strategic minerals are likely to see rapid demand growth over the next two decades including lithium, rare earths, cobalt and graphite. AWR Lloyd has worked with a number of clients to evaluate investment and acquisition opportunities in these sectors.

Coal has been one of the firm’s core areas of industry expertise. AWR Lloyd has been one of the leading M&A and corporate strategy advisors to the Asia-Pacific coal sector for nearly two decades. Our work has been wide-ranging from valuation and strategic planning to major merger transactions and IPOs. AWR Lloyd has experience working on assignments relating to the coal sectors of Indonesia, Australia, China, Mongolia, India, Vietnam, South Africa, East Africa and the US.

The firm has worked for a few coal sector clients on a multi-year basis. For example, AWR Lloyd has been instrumental in the development and expansion of two smaller players into multi-billion dollar coal producers – one in Australia, acquired by a Chinese group for $3 billion – and one in Asia, with coal and power interests in Indonesia, Australia, China, Mongolia, Thailand and Laos. The work for these companies has included a mix of corporate finance strategy, transactions and investor relations work over many years.

AWR Lloyd provides analysis of the ownership structure of the coal, industrial minerals and strategic metals and minerals industries in each country, profiles of both the larger and smaller players, resources, reserves, coal grades, logistics and infrastructure analysis, capital cost and operating cost estimates, new projects, trade flows and customers. Through our knowledge of the power, steel and specialist metallurgical sectors we can also model long term demand scenarios for industrial and energy resources.

Where clients need long range price forecasts, AWR Lloyd provides long term demand scenario analysis and long-term CV-adjusted FOB and CIF cost curve analysis in the main areas of future supply. The marginal cost of production forms a core fundamental benchmark for long term pricing analysis but we also factor in the potential impact of speculative influences on prices and the impact of market sentiment. Finally, for thermal coal, we analyze the historical and future substitution relationships between coal and alternative sources of energy for power, in particular gas (and oil) and renewable energy.

In Indonesia, AWR Lloyd and its principals have been active in the coal sector for two decades. For example, one principal was strategic advisor to PT Bukit Asam and a number of other clients in Kalimantan in the 1990s. AWR Lloyd has advised several clients on various aspects of their Indonesian coal sector strategies in Indonesia since 2000.

We advised on the $2 billion IPO of an Indonesian coalmining company on the Indonesian Stock Exchange in 2007. We have advised a power group on a $200 million investment in a coalmine in Sumatra. We have also conducted a number of other studies for other clients, including the Indonesian Coal Mining Association.

In China, AWR Lloyd was the advisor to a $0.5 billion acquisition of a coal mine and coal project in Shanxi Province. We also advised a Korean group in relation to investment in a coalmine and related power project in Shanxi Province. We have advised a private equity fund on investment in coalmining companies projects in China and Mongolia.

In Australia, we advised a coalmining company on five M&A transactions, two of which were successfully completed. We also advised the same company on aspects of its strategy and investor relations. We have advised a Southeast Asian power group on coal investments and acquisitions in the country. We have also advised an ultra-clean coal technology company based in Australia.

 

Mining & Metals: Steel, Base & Precious

AWR Lloyd provides transaction advisory, strategy consulting and industry studies in the steel, ferro-alloys, iron ore, gold, copper, zinc, nickel, tin and bauxite mining and metals industries in southeast Asia, India and Australia. For industrial minerals, we have particular experience in the potash sector both in Asia-Pacific and worldwide. In steel and ferro-alloys, AWR Lloyd has extensive experience in the steel industries of Thailand and Vietnam. For iron ore mining, AWR Lloyd and its principals can draw on extensive global experience.

AWR Lloyd can provide country-focused studies or regional studies which analyze the current and future structure of corporate control, resources, reserves, processing technologies, capital cost and operating cost estimates, trade flows and demand dynamics.

AWR Lloyd’s principals and senior advisors have extensive experience working with the non-energy mining and metals sectors worldwide (iron ore, bauxite, copper, zinc, nickel, gold, potash…) which goes back to the 1980s and early 1990s. Much of this experience was with some of the biggest names in the mining sector including Rio Tinto, Billiton (BHP Billiton), Anglo American, Glencore and CVRD (Vale). AWR Lloyd itself has been active in advising companies in the mining and metals sector since its formation in 2000.

One of AWR Lloyd’s first assignments was to advise an Eastern European government (in conjunction with the World Bank and a European investment bank) on the privatization of its aluminium industry, including the largest aluminium smelter in Eastern and Central Europe.

In the copper sector AWR Lloyd has advised a large Japanese group on the $200 million acquisition of a mining operation in Latin America. For a UK-based private equity fund we have advised on a copper mine investment in Africa, a zinc mine investment in China, a silver mine investment in Russia, a chromite mine investment in Vietnam, an iron ore mine investment in Brazil and a gold mine investment in the Philippines. In Southeast Asia, AWR Lloyd has advised a Canadian listed junior with a copper exploration play in Laos and an Australian listed junior with iron ore and gold prospects in Thailand. AWR Lloyd secured capital from strategic investors for nickel and gold mining projects in Indonesia.

In the potash sector, AWR Lloyd advised a major Swiss-based grain and fertilizer trading group on a potential investment in a potash company in the Middle East and assisted in providing a business plan for a Russian fertilizer company in support of a takeover bid.

AWR Lloyd advised a large Indian steel group on its downstream steel acquisition strategy in Southeast Asia, focusing on two steel wirerod mill acquisitions in Thailand. We have also provided in-depth reports on the Thai steel industry to a Japanese trading group with a focus on the two main minimill producers of hot rolled coil in Thailand.

In Vietnam, AWR Lloyd has conducted studies of the steel sector for a number of clients and has worked on two capital raising projects for two Vietnamese downstream steel producers.

 

Agriculture & Bio Resources

AWR Lloyd has recently launched its agriculture and bio-resources practice with a focus on rubber, palm oil, sugar and other plantations businesses. The sector has strong synergies and overlap with the energy sector, for example in relation to bio-diesel, bio-mass and some fuel cell technologies.

AWR Lloyd has managed assignments and transactions relating to the Thai, Malaysian and Indonesian palm oil and bio-mass industries.

 

Energy Transition & E-Mobility

Coming soon…


Smart Energy Technology

AWR Lloyd works with clients to develop strategies and execute transactions in the emerging smart energy sectors: solar rooftop, energy efficiency, energy management systems and batteries.

AWR Lloyd has conducted in-depth market forecasts for clients, strategic plans and target evaluation analysis in Southeast Asia and India.


Power & Utilities

AWR Lloyd is well recognized for being the driving force behind many players in the Asian power sector. Our principals have extensive expertise in the development and financing of power generation projects as well as energy procurement strategies throughout Asia-Pacific. The firm also has some experience in the telecoms, satellites and water sectors.

Our power sector clients have included Sojitz, AES, KEPCO, Petronas, Banpu Power, B.Grimm, Tuas Power, BG, GDF Suez, Goldwind and XEMC. For example, AWR Lloyd advised Petronas on the development of a regional power master plan, covering the execution of entry strategies and research on the power market structure, regulatory framework and potential market entry of selected countries. We also provided them with a power plant database of selected countries, benchmarking with other incumbents that are exposed to similar assets as well as lessons learnt from successes and failures in the industry.


Conventional & Nuclear Power

Our proprietary database and software on the power generation, transmission and distribution sector combined with an on-the-ground first-hand evaluation of projects enables the firm to model potential power demand scenarios, assess potential risks, conduct rigorous economic analysis of fuel and electricity pricing and assess dispatch levels of power plants. Our capability extends to the construction of detailed revenue and cash flow projection models in an attempt to provide our clients with sensitivity and scenario analysis.

Our regional presence helps us maintain close relationships with our clients and monitor the market for any opportunities with regard to Independent Power Producer (IPP) bidding, Small Power Producer (SPP) development and other M&A activities in the region.

AWR Lloyd provides regional gas and power research services within the Asia-Pacific based on a deep understanding of the markets in the region and focused on the key issues and fundamentals that drive gas and power prices. Our analysis of supply and demand dynamics, market structures and price forecasting is used by market participants, financial institutions and regulators as the basis for strategic investment and operational decisions in the key markets of the region.

We build upon that commercial knowledge of the power value chain by gaining an in depth understanding of the client’s strengths and abilities. This enables us to provide strategic value-creating advice to power companies.


Renewable Energy

The growing concerns for environmental sustainability and national security together with the surge in demand for alternatives to fossil fuels, have led to increasing demand for specialists in this field. Over the past decade AWR Lloyd has been developing an extensive track record in the renewable energy sector advising on projects relating to wind power, solar energy, bio-mass, fuel cells and green energy storage technologies.

We work with government agencies and end users to develop secure energy solutions which are sustainable as well as technologically and financially sound. We provide advanced alternative energy solutions to help clients respond to the evolving energy environment. As a result, AWR Lloyd is increasingly recognized as a leading advisor to certain industry and geographic niches in the renewable energy sector – for example advising North Asian wind turbine manufacturers entering the North American market.

Our advisory services include market analysis and forecasting, analysis of the current regulatory regime and expected changes, assessment of renewable energy source potential, financial modeling, feasibility study preparation , local partner identification, searching for international equity partners, arranging finance, project management, market entry and exit strategies, competitor analysis, mergers and acquisition support, identification of investment opportunities and investment opportunity assessment.

AWR Lloyd’s renewable energy team has decades of experience in wind, solar and biomass projects. We combine this experience along with our capabilities in gas & power market advisory to provide comprehensive analysis to our clients of the key factors that drive renewable growth: technology, government policy, macro-economic trends, power market dynamics and environmental regulatory policy.

We focus on helping clients: understand technology trends and outlook, competition, regulatory developments, how renewable energy fits within a markets broader power sector, cost effective means of meeting renewable energy goals and in developing market entry strategies. We have worked with project developers, lenders and original equipment manufacturers both on market analysis issues and on successful project implementation. By leveraging our network of key industry participants with our power market services, we are able to provide strong support to our clients in taking their projects from ‘cradle to grave’.

For example, AWR Lloyd was commissioned by a Korean company to undertake an industry study for a potential ‘waste to energy’ greenfield investment in the Southwest of Thailand. The scope of work included providing an overview of the Thailand power market, assessing renewable power project development in Thailand and assessing feedstock availability. Subsequently, upon request by the client, we also conducted a detailed review of feedstock supply, heat value analysis and local governmental regulation. As a result, the client gained an in-depth understanding of the power market and was able to make an informed decision.

AWR Lloyd worked closely with a Southeast Asian research company on the development of its vanadium redox battery and fuel cell technologies for many years helping them develop a global commercialization strategy, a five-year business plan and a Development Phase Probability Based DCF valuation analysis. We also developed the client’s financial strategy for raising grant money from a government and capital from private equity funds.


T&D, Water & Telecoms

AWR Lloyd has recently launched its practice in transmission and development, water and telecoms. The firm has worked on assignments in Thailand and Laos in these sectors.


Infrastructure

AWR Lloyd works with clients across the infrastructure sector from port and transport logistics to social infrastructure, smart cities, satellite technology and financial services sector technologies.


Ports, Transport & Logistics

As Asian economies grow and as the trade flows to and from Asian countries increase the demand for new infrastructure, new terminals and ports, new industrial estate projects and related utilities also increases. AWR Lloyd provides project-focused, country-focused or regional studies which analyze potential demand for infrastructure, industrial estate, terminal and utility facilities – and for the products (e.g. steel, oil, chemicals, agricultural commodities….) which are likely to be transported, produced or stored at these locations. We also analyze the current and future structure of corporate control in these infrastructure sectors, capital cost and operating cost estimates, trade flows and long-term supply and demand dynamics.

For example, AWR Lloyd was appointed to advise in relation to a major infrastructure project in the south of Thailand involving both energy and non-energy components. The core aspect of the project was an oil pipeline with oil storage and a refinery – but an industrial estate, an aluminium smelter and other industries were also being considered. AWR Lloyd provided a comprehensive analysis of demand potential for all aspects of the infrastructure project. We are also currently advising in relation to investment in a water treatment company in Vietnam.

AWR Lloyd was appointed to provide feasibility studies for two major infrastructure projects in Myanamar: a container port expansion in Yangon and a multi-purpose port and industrial estate in Mandalay.

AWR Lloyd has a long term strategic partnership with Royal Haskoning, one of the world’s leading maritime and infrastructure engineering groups.


Satellite Technology

AWR Lloyd has developed extensive expertise in the earth observation and telecoms satellite sectors working for a number of clients in Southeast Asia and India.

AWR Lloyd advised a Southeast Asian government ministry in relation to the development of its long-term earth observation satellite strategy. The assignment included strategic consulting, international benchmarking, feasibility and business planning modules. Key focus areas were satellite technology (both optical and radar), midstream and downstream capability development – and applications around natural resources, infrastructure development and national security.


Real Estate & Hospitality

AWR Lloyd has acted as advisor to a number of real estate clients in Thailand and Vietnam with a focus on corporate finance strategy and investor relations. The firm worked for many years for a luxury real estate condominium developer in Thailand on its investor relations relaunch after a period of financial restructuring. The client’s share price increased by over 150% within the first six months of our assignment. AWR Lloyd also advised on an equity private placement for the company and a warrant issue. AWR Lloyd has also worked for a townhouse developer and a leading hotel group in Thailand, both listed on the local stock market.


Real Estate & Hospitality

Coming soon…


Europe & Americas

Coming soon…


Middle East Africa & Central Asia

Coming soon…


India & South Asia

Coming soon…


Greater Mekong Region

Coming soon…


Indonesia & Other ASEAN

Coming soon…


Greater China

Coming soon…


Korea & Japan

Coming soon…


Australia & New Zealand

Coming soon…


Other Sectors

Coming soon…


ABOUT US

SENIOR ADVISORS

 

Sarah Anggraeni Suhartono

Senior Consultant

  • Over 15 years experience across a broad range of sectorsranging from sea transportation infrastructure, diplomacy/bilateral relations, as well as development aid.
  • Extensive experience in stakeholder management as well as building consensus across stakeholders, organizationsand companies.
  • Former director for Port of Rotterdam' wholly-owned subsidiary in Indonesia.
  • Former Senior Policy Advisor for politics and press at the Dutch Embassy in Jakarta.
  • Former Program Assistant at USAID' democratic-support project in Indonesia.
  • Masters degree in International Relations from Sacramento State University, California and dual Bachelor degree in Media Policy and Corporate Communication from University of Houston, Texas.
ABOUT US

SENIOR ADVISORY BOARD

 

Sarah Anggraeni Suhartono

Senior Consultant

  • Over 15 years experience across a broad range of sectorsranging from sea transportation infrastructure, diplomacy/bilateral relations, as well as development aid.
  • Extensive experience in stakeholder management as well as building consensus across stakeholders, organizationsand companies.
  • Former director for Port of Rotterdam' wholly-owned subsidiary in Indonesia.
  • Former Senior Policy Advisor for politics and press at the Dutch Embassy in Jakarta.
  • Former Program Assistant at USAID' democratic-support project in Indonesia.
  • Masters degree in International Relations from Sacramento State University, California and dual Bachelor degree in Media Policy and Corporate Communication from University of Houston, Texas.
ABOUT US

SENIOR ADVISORS

 

Fiona Wood

Senior Consultant

  • Over 10 years as an independent innovation strategy analyst/advisor working with international organisations including the European Commission, The European Institute of Innovation & Technology, the Rathenau Instituut and the Japanese Business University Forum
  • Thematic focus on smart, sustainable and inclusive economic growth strategies; partnerships between the publicand private sectors and civil society; and building talent pipelines addressing global challenges
  • Previous work includes analysis of international higher education system policies and financing; fit-for-purpose models for publicly funded research, advising major research funding agencies and National Academies as well as Cabinet-level departments in the US and Canada; and lecturing in universities in Australia, Hong Kong and Vietnam
  • Senior Consultant for AWR Lloyd since December 2022
  • Co-author of the popular publication Überpreneurs: How to Create Innovative Global Businesses and Transform Human Societies
  • Chair of the International Advisory Board, The Association of Business, Professional & Agricultural Women – Khyber Pakhtunkhwa
  • PhD in Public Policy from the University of New England; First Class Honours from the Australian National University
ABOUT US

SENIOR ADVISORY BOARD

 

Fiona Wood

Senior Consultant

  • Over 10 years as an independent innovation strategy analyst/advisor working with international organisations including the European Commission, The European Institute of Innovation & Technology, the Rathenau Instituut and the Japanese Business University Forum
  • Thematic focus on smart, sustainable and inclusive economic growth strategies; partnerships between the publicand private sectors and civil society; and building talent pipelines addressing global challenges.
  • Previous work includes analysis of international higher education system policies and financing; fit-for-purpose models for publicly funded research, advising major research funding agencies and National Academies as well as Cabinet-level departments in the US and Canada; and lecturing in universities in Australia, Hong Kong and Vietnam.
  • Senior Consultant for AWR Lloyd since December 2022
  • Co-author of the popular publication Überpreneurs: How to Create Innovative Global Businesses and Transform Human Societies
  • Chair of the International Advisory Board, The Association of Business, Professional & Agricultural Women – Khyber Pakhtunkhwa
  • PhD in Public Policy from the University of New England; First Class Honours from the Australian National University
ABOUT US

SENIOR ADVISORS

 

Andy North

Senior Advisor

  • 38 years’ experience in Asia Pacific, Europe and North America, with the past 20 years based in SE Asia
  • A Mergers & Acquisitions specialist having led a broad range of M&A’s from deal identification and negotiation, through due diligence and integration.
  • A civil & environmental engineer and project manager by background who has excelled in major global consulting, infrastructure and development companies.
  • Previous experience includes corporate roles with AECOM, Aurecon and Atlas Industries/li>
  • Expertise in corporate, project and operations management including developing and implementing organic & inorganic growth strategies; identifying, structuring and integrating M&A deals; and strategic & tactical business planning
  • Project background in the water and environmental industry where he led various forms of integrated delivery projects and programs including design, build, finance and operate (DBFO) and public-private-partnerships (PPPs).
  • His global exposure has given him a unique insight into the world’s markets and a thorough appreciation and understanding of global cultures, sensitivities and business practices.
ABOUT US

SENIOR ADVISORY BOARD

 

Andy North

Senior Advisor

  • 38 years’ experience in Asia Pacific, Europe and North America, with the past 20 years based in SE Asia
  • A Mergers & Acquisitions specialist having led a broad range of M&A’s from deal identification and negotiation, through due diligence and integration.
  • A civil & environmental engineer and project manager by background who has excelled in major global consulting, infrastructure and development companies.
  • Previous experience includes corporate roles with AECOM, Aurecon and Atlas Industries
  • Expertise in corporate, project and operations management including developing and implementing organic & inorganic growth strategies; identifying, structuring and integrating M&A deals; and strategic & tactical business planning
  • Project background in the water and environmental industry where he led various forms of integrated delivery projects and programs including design, build, finance and operate (DBFO) and public-private-partnerships (PPPs).
  • His global exposure has given him a unique insight into the world’s markets and a thorough appreciation and understanding of global cultures, sensitivities and business practices.
ABOUT US

SENIOR ADVISORS

 

Rosalind Yunibandhu

Senior Advisor

  • Over 16 years of experience in sustainability advisory, management consulting and entrepreneurship
  • Co-founded and led PwC’s pioneering Sustainability & Climate Change practice in Thailand, advising CEOs and Boards of leading companies of Thailand and Southeast Asia
  • Co-project managed a flagship project of the World Business Council for Sustainable Development (WBCSD), involving the CEOs of over 40 leading global companies. In partnership with the Stockholm Resilience Centre and the World Resources Institute, the initiative was a landmark project setting a science-based agenda for business action on sustainability to 2020 and beyond.
  • Selected by PwC Global as a WBCSD Future Leader
  • Education
    • B.A. (Hons) Economics, University of Cambridge, U.K.
    • M.A. Thai Studies, Chulalongkorn University, Thailand
    • M.Sc. Applied Linguistics, Department of Educational Studies, University of Oxford, U.K
ABOUT US

SENIOR ADVISORY BOARD

 

Rosalind Yunibandhu

Senior Advisor

  • Over 16 years of experience in sustainability advisory, management consulting and entrepreneurship
  • Co-founded and led PwC’s pioneering Sustainability & Climate Change practice in Thailand, advising CEOs and Boards of leading companies of Thailand and Southeast Asia
  • Co-project managed a flagship project of the World Business Council for Sustainable Development (WBCSD), involving the CEOs of over 40 leading global companies. In partnership with the Stockholm Resilience Centre and the World Resources Institute, the initiative was a landmark project setting a science-based agenda for business action on sustainability to 2020 and beyond.
  • Selected by PwC Global as a WBCSD Future Leader
  • Education
    • B.A. (Hons) Economics, University of Cambridge, U.K.
    • M.A. Thai Studies, Chulalongkorn University, Thailand
    • M.Sc. Applied Linguistics, Department of Educational Studies, University of Oxford, U.K
ABOUT US

SENIOR ADVISORS

 

Pitipong Matitanaviroon

Senior Advisor

  • Over 20 years’ experience in investment banking and strategy consulting, focused on the mining, metals and energy sectors in the Asia-Pacific region
  • Joined AWR Lloyd in 2007 and became a Director in 2013
  • Principal advisor to key AWR Lloyd corporate clients in the mining and energy sectors, in relation to corporate strategy, capital structure planning, valuation analysis, M&A, industry research, and investor relations.
  • Advised UK-based private equity fund on valuations and potential investments in mining projects in the emerging markets
  • Vice President at TISCO Securities, employed during 2003-2007, working on IPO and M&A transactions, including the privatization of EGAT
  • MBA from the University of Illinois and Bachelor in Economics degree from Chulalongkorn University
  • CFA and FRM charterholder
ABOUT US

SENIOR ADVISORY BOARD

 

Pitipong Matitanaviroon

Senior Advisor

  • Over 20 years’ experience in investment banking and strategy consulting, focused on the mining, metals and energy sectors in the Asia-Pacific region
  • Joined AWR Lloyd in 2007 and became a Director in 2013
  • Principal advisor to key AWR Lloyd corporate clients in the mining and energy sectors, in relation to corporate strategy, capital structure planning, valuation analysis, M&A, industry research, and investor relations.
  • Advised UK-based private equity fund on valuations and potential investments in mining projects in the emerging markets
  • Vice President at TISCO Securities, employed during 2003-2007, working on IPO and M&A transactions, including the privatization of EGAT
  • Vice President at TISCO Securities, employed during 2003-2007, working on IPO and M&A transactions, including the privatization of EGAT
  • MBA from the University of Illinois and Bachelor in Economics degree from Chulalongkorn University
  • CFA and FRM charterholder
ABOUT US

SENIOR ADVISORS

 

Toby Norfolk-Thompson

Senior Advisor, UK

  • 20 years as an Managing Director in Fixed Income Structuring at Barclays, focused on Emerging Markets and executed a wide range of transactions across Energy, Metals & Mining, financial institutions, sovereigns and transportation.
  • Invested in and advised a wide range of businesses globally including African Power Corporation, Tanbreez rare earths, Singularity Finance Egypt, Coinbase (where he was CIO) and more recently launching Trident Digital, a new lending platform.
  • Actively involved in UK financial and regulatory policy, serving as a fellow of the Adam Smith Institute and the Digital Economy Initiative and has given evidence at range of parliamentary committees and consultations.
  • MA in Mathematics from Cambridge University
ABOUT US

SENIOR ADVISORY BOARD

 

Toby Norfolk-Thompson

Senior Advisor, UK

  • 20 years as an Managing Director in Fixed Income Structuring at Barclays, focused on Emerging Markets and executed a wide range of transactions across Energy, Metals & Mining, financial institutions, sovereigns and transportation.
  • Invested in and advised a wide range of businesses globally including African Power Corporation, Tanbreez rare earths, Singularity Finance Egypt, Coinbase (where he was CIO) and more recently launching Trident Digital, a new lending platform.
  • Actively involved in UK financial and regulatory policy, serving as a fellow of the Adam Smith Institute and the Digital Economy Initiative and has given evidence at range of parliamentary committees and consultations.
  • MA in Mathematics from Cambridge University
ABOUT US

SENIOR ADVISORY BOARD

 

Robert Tyler

Senior Advisory Board

  • Over 15 years of experience in logistics and health risk management
  • Worked with International SOS across Thailand, Laos, Myanmar, Yemen and PNG, 2010-19
  • Former Global Multi-National Customer Account Manager at DHL Express Singapore, 2009-10.
  • Former Territory Manager at DHL Express Afghanistan, 2008-09
  • Robert holds a BA(Hons) in Theology from Oxford University
ABOUT US

SENIOR ADVISORY BOARD

 

Robert Tyler

Senior Advisory Board

  • Over 15 years of experience in logistics and health risk management
  • Worked with International SOS across Thailand, Laos, Myanmar, Yemen and PNG, 2010-19
  • Former Global Multi-National Customer Account Manager at DHL Express Singapore, 2009-10.
  • Former Territory Manager at DHL Express Afghanistan, 2008-09
  • Robert holds a BA(Hons) in Theology from Oxford University
ABOUT US

SENIOR ADVISORY BOARD

 

Willem de Jonge

Senior Advisory Board

  • Over 25 years combined experience in Engineering, Environmental Consulting, Operational Excellence and Strategy Consultancy
  • Senior Board Advisor to AWR Lloyd since 2021
  • Extensive network multi-disciplinary Engineering and Consultancy firms in EMEA and APAC.
  • Former senior positions held.
    • Managing Partner at PT. ERM Indonesia
    • Vice President at AECOM Malaysia
    • Director Consultancy at Bilfinger Middle East
    • Chief Project Manager at COWI Qatar
  • Willem holds an MSc in Environmental Management from the University of Greenwich and a BSc in Environmental and Civil Engineering from Polytechnical Institute Arnhem
ABOUT US

SENIOR ADVISORY BOARD

 

Willem de Jonge

Senior Advisory Board

  • Over 25 years combined experience in Engineering, Environmental Consulting, Operational Excellence and Strategy Consultancy
  • Senior Board Advisor to AWR Lloyd since 2021
  • Extensive network multi-disciplinary Engineering and Consultancy firms in EMEA and APAC.
  • Former senior positions held
    • Managing Partner at PT. ERM Indonesia
    • Vice President at AECOM Malaysia
    • Director Consultancy at Bilfinger Middle East
    • Chief Project Manager at COWI Qatar
  • Willem holds an MSc in Environmental Management from the University of Greenwich and a BSc in Environmental and Civil Engineering from Polytechnical Institute Arnhem
ABOUT US

SENIOR ADVISORY BOARD

 

Stephan Kriesel

Senior Advisory Board

  • Over two decades experience in advising governments in the Middle East & North Africa, Asia, Latin America and Eastern Europe region with a focus on the financial sector.
  • Led the Tony Blair Government Advisory Practice the private government consultancy of former UK Prime Minister Tony Blair
  • Associate Partner with the international strategy consulting firm McKinsey & Company serving financial service clients and governments around the globe.
  • Co-founder and global co-chair of McKinsey’s International Economic Development Interest Group and the Financial Sector Development Initiative.
  • Worked at the World Bank in Washington and India.
  • Master of Public Administration from the Harvard Kennedy School of Government and a Ph.D. from the University of Heidelberg, Germany
ABOUT US

SENIOR ADVISORY BOARD

 

Stephan Kriesel

Senior Advisory Board

  • Over two decades experience in advising governments in the Middle East & North Africa, Asia, Latin America and Eastern Europe region with a focus on the financial sector.
  • Led the Tony Blair Government Advisory Practice the private government consultancy of former UK Prime Minister Tony Blair
  • Associate Partner with the international strategy consulting firm McKinsey & Company serving financial service clients and governments around the globe.
  • Co-founder and global co-chair of McKinsey’s International Economic Development Interest Group and the Financial Sector Development Initiative.
  • Worked at the World Bank in Washington and India.
  • Master of Public Administration from the Harvard Kennedy School of Government and a Ph.D. from the University of Heidelberg, Germany
ABOUT US

SENIOR ADVISORY BOARD

 

Nigel Kieser

Senior Advisory Board

  • Freelance consultant to the natural resources and renewables sectors, specialising in strategic advisory and ESG-related mandates
  • Over 20 years of mining industry experience, with a particular focus on M&A, investment and JV agreement negotiation, exploration project management, bankable feasibility studies, and closing out environmental legacy issues
  • Worked for Rio Tinto based in the UK for 17 years (2000-2006, 2011-2022), also for De Beers based in Russia (2006-2008), and for Severstal in Liberia (2009-2011). Five years of prior experience in metals & mining equity research
  • Senior Board Advisor to AWR Lloyd since early 2023
  • Holds PhD in Geology from Imperial College (Royal School of Mines)2
ABOUT US

SENIOR ADVISORY BOARD

 

Nigel Kieser

Senior Advisory Board

  • Freelance consultant to the natural resources and renewables sectors, specialising in strategic advisory and ESG-related mandates
  • Over 20 years of mining industry experience, with a particular focus on M&A, investment and JV agreement negotiation, exploration project management, bankable feasibility studies, and closing out environmental legacy issues
  • Worked for Rio Tinto based in the UK for 17 years (2000-2006, 2011-2022), also for De Beers based in Russia (2006-2008), and for Severstal in Liberia (2009-2011). Five years of prior experience in metals & mining equity research
  • Senior Board Advisor to AWR Lloyd since early 2023
  • Holds PhD in Geology from Imperial College (Royal School of Mines)
ABOUT US

SENIOR ADVISORY BOARD

 

Shiraz Poonevala

Senior Advisory Board

  • Over 20 years’ experience in investment and corporate banking in Asia
  • Senior Board Advisor to AWR Lloyd since 2017
  • Director for Investment (including overseeing investments for the Shah family), GP Group, since 2008. GP Group is a diverse Asian conglomerate with a 140 year history, owner of SET-listed Precious Shipping
  • Director, Paragon Partners – a real estate and luxury brands focused Thai boutique advisory firm, 2002-2007
  • Vice President and Team Head of Corporate Banking, HSBC Thailand, 1998-2002
  • Bachelor of Commerce from Syndebham College of Commerce, India; Master of Commerce in Finance and Accounting from Syndebham College of Commerce, India; and Associated Chartered Accountant from Institute of Chartered Accountants of India
ABOUT US

SENIOR ADVISORY BOARD

 

Shiraz Poonevala

Senior Advisory Board

  • Over 20 years’ experience in investment and corporate banking in Asia
  • Senior Board Advisor to AWR Lloyd since 2017
  • Director for Investment (including overseeing investments for the Shah family), GP Group, since 2008. GP Group is a diverse Asian conglomerate with a 140 year history, owner of SET-listed Precious Shipping
  • Director, Paragon Partners – a real estate and luxury brands focused Thai boutique advisory firm, 2002-2007
  • Vice President and Team Head of Corporate Banking, HSBC Thailand, 1998-2002
  • Bachelor of Commerce from Syndebham College of Commerce, India; Master of Commerce in Finance and Accounting from Syndebham College of Commerce, India; and Associated Chartered Accountant from Institute of Chartered Accountants of India
ABOUT US

SENIOR ADVISORY BOARD

 

Maximilian Jarrett

Senior Advisory Board

  • Nearly 30 years of experience in international geopolitical affairs, intergovernmental policy coordination and strategic communications including over a decade as a Senior Broadcast Journalist
  • In 2020, Max became the first Africa Programme Manager for the International Energy Agency (IEA)
  • Founder and Chief Executive of Abudenta Divina (Media) Ltd, a UK boutique political consultancy, media production and strategic communications advisory services firm
  • Senior Special Advisor to the Chair of the Africa Progress Group, Chief Olusegun Obasanjo, a former President of the Federal Republic of Nigeria
  • In 2017, he served as the final Director-in-charge of the Geneva-based Africa Progress Panel (APP) chaired by the Nobel Laureate and former UN Secretary - General, Kofi Annan
  • From 2014 to 2016, he served as the Deputy Director of the Africa Progress Panel
  • Member of the International Council of the United Kingdom's Creative Industries Federation
  • An Honorary Fellow of Murdoch University, in Perth, Western Australia
  • Educated in Economics - Upper Second Class Honours, London School of Economics (BSc Econ) and Area Studies (Africa) with Merit (MA), School of Oriental and African Studies in Londonn
ABOUT US

SENIOR ADVISORY BOARD

 

Maximilian Jarrett

Senior Advisory Board

  • Nearly 30 years of experience in international geopolitical affairs, intergovernmental policy coordination and strategic communications including over a decade as a Senior Broadcast Journalist
  • In 2020, Max became the first Africa Programme Manager for the International Energy Agency (IEA)
  • Founder and Chief Executive of Abudenta Divina (Media) Ltd, a UK boutique political consultancy, media production and strategic communications advisory services firm
  • Senior Special Advisor to the Chair of the Africa Progress Group, Chief Olusegun Obasanjo, a former President of the Federal Republic of Nigeriat
  • In 2017, he served as the final Director-in-charge of the Geneva-based Africa Progress Panel (APP) chaired by the Nobel Laureate and former UN Secretary - General, Kofi Annan
  • From 2014 to 2016, he served as the Deputy Director of the Africa Progress Panel
  • Member of the International Council of the United Kingdom's Creative Industries Federation
  • An Honorary Fellow of Murdoch University, in Perth, Western Australia
  • Educated in Economics - Upper Second Class Honours, London School of Economics (BSc Econ) and Area Studies (Africa) with Merit (MA), School of Oriental and African Studies in London
ABOUT US

SENIOR ADVISORY BOARD

 

Raj Kohli

Senior Advisory Board

  • Over 30 years' experience in finance, transactions and research in the global mining, metals and energy sectors
  • Senior Board Advisor to AWR Lloyd since 2015
  • Extensive network: SWFs, private equity houses, trading companies, family offices, mining and steel corporates
  • Global Head - Mining & Metals, Standard Bank, 2011-2015: managed financial transactions across Africa
  • Co-Head of M&A, and VP, Arcelor Mittal, 2007-08, world's largest steel group, working on backwards integration into raw materials
  • Managing Director, HSBC Bank, 2000-07: Vedanta IPO, demerger of Iscor, Rusal - Sual, China Minmetals - Noranda, sale of Corus, Phelps Dodge - Inco - Falconbridge, Mittal - Arcelor‚
  • Director, Banque Paribas 1995-2000: rated analyst for Asian Mining & Metals; corporate finance
  • Educated at the London School of Economics and the Cass Business School (MSc, Shipping, Trade & Finance)
ABOUT US

SENIOR ADVISORY BOARD

 

Raj Kohli

Senior Advisory Board

  • Over 30 years' experience in finance, transactions and research in the global mining, metals and energy sectors
  • Senior Board Advisor to AWR Lloyd since 2015
  • Extensive network: SWFs, private equity houses, trading companies, family offices, mining and steel corporates
  • Global Head - Mining & Metals, Standard Bank, 2011-2015: managed financial transactions across Africa
  • Co-Head of M&A, and VP, Arcelor Mittal, 2007-08, world's largest steel group, working on backwards integration into raw materials
  • Managing Director, HSBC Bank, 2000-07: Vedanta IPO, demerger of Iscor, Rusal - Sual, China Minmetals - Noranda, sale of Corus, Phelps Dodge - Inco - Falconbridge, Mittal - Arcelor‚
  • Director, Banque Paribas 1995-2000: rated analyst for Asian Mining & Metals; corporate finance
  • Educated at the London School of Economics and the Cass Business School (MSc, Shipping, Trade & Finance)
ABOUT US

SENIOR ADVISORY BOARD

 

George Lloyd

Chairman of Senior Advisory Board

  • Over 15 years’ experience in operations management and venture development
  • Head of CEO Office at AWR Lloyd since 2011: CEO support, financial management, governance systems, information systems, contract management, human resources, training, CSR.
  • Client and partner co-ordination and business development support for AWR Lloyd in the energy and infrastructure sectors in India and Southeast Asia
  • Manager of an international training program in peace and conflict resolution at the Rotary Center in Peace & Conflict Resolution, Chulalongkorn University 2007-11: managing professional training programmes, support to lecturers, trip organisation, public relations, CSR, event management
  • BA (First Class Honors) in Information Science from Thammasat University, Bangkok, Thailand; MA, Language Institute, Thammasat University

 

Message from Chairman of the Senior Advisory Board

"AWR Lloyd is right at the heart of the great Asian economic growth story of our time – and playing a critical role.
Satisfying the region's escalating needs for energy, raw materials and infrastructure over the next few decades will continue to be a momentous challenge. While economics and financial mechanisms are primary considerations, other paramount criteria relate to security of supply and the environment.

AWR Lloyd's mission is to work with all stakeholders in the Asian resources and infrastructure sectors to tackle these challenges and to provide its clients with the strategic insights they need to make value-creating decisions".
George Lloyd Chairman of AWR Lloyd’s Senior Advisory Board

ABOUT US

SENIOR ADVISORY BOARD

 

George Lloyd

Chairman of Senior Advisory Board

  • Over 15 years’ experience in operations management and venture development
  • Head of CEO Office at AWR Lloyd since 2011: CEO support, financial management, governance systems, information systems, contract management, human resources, training, CSR.
  • Client and partner co-ordination and business development support for AWR Lloyd in the energy and infrastructure sectors in India and Southeast Asia
  • Manager of an international training program in peace and conflict resolution at the Rotary Center in Peace & Conflict Resolution, Chulalongkorn University 2007-11: managing professional training programmes, support to lecturers, trip organisation, public relations, CSR, event management
  • BA (First Class Honors) in Information Science from Thammasat University, Bangkok, Thailand; MA, Language Institute, Thammasat University

 

Message from Chairman of the Senior Advisory Board

"AWR Lloyd is right at the heart of the great Asian economic growth story of our time – and playing a critical role.
Satisfying the region's escalating needs for energy, raw materials and infrastructure over the next few decades will continue to be a momentous challenge. While economics and financial mechanisms are primary considerations, other paramount criteria relate to security of supply and the environment.

AWR Lloyd's mission is to work with all stakeholders in the Asian resources and infrastructure sectors to tackle these challenges and to provide its clients with the strategic insights they need to make value-creating decisions".
George Lloyd Chairman of AWR Lloyd’s Senior Advisory Board

ABOUT US

OUR MANAGEMENT

 

Mangesh Jamekar

Executive Director & Special Board Advisor – India

  • Geo-political specialist and political theorist with over 20 years’ experience working with the Indian political system.
  • A social activist with a broad network of connections amongst civil society organisations throughout India.
  • Extensive CSR programme experience
  • Advisor to private sector corporates and financial institutions in India.
  • Graduate of Nagpur University in Socio-Economics.
ABOUT US

OUR MANAGEMENT

 

Mangesh Jamekar

Executive Director & Special Board Advisor – India

  • Geo-political specialist and political theorist with over 20 years’ experience working with the Indian political system.
  • A social activist with a broad network of connections amongst civil society organisations throughout India.
  • Extensive CSR programme experience
  • Advisor to private sector corporates and financial institutions in India.
  • Graduate of Nagpur University in Socio-Economics.
ABOUT US

OUR MANAGEMENT

 

Vipul Patel

Managing Director - India

  • Over 18 years’ experience in food, commodities, entertainment, real estate, consumer products, building materials and green tech
  • Geographical expertise in the UK, EU, Middle East, far East and South Korea
  • Previously led strategy and sales, operations and investments at JVS
  • Previous work includes the development of wind farms, waste-to-power generation models, the establishment of India’s largest pre-cast, monolithic, lightweight building materials manufacturing plants, and facilitating cross-border partnerships for green tech enterprises establishing manufacturing facilities in India
  • He holds a degree in Business Management and Finance from Oxford Brookes, with an SME certification from IIM Ahmedabad.
ABOUT US

OUR MANAGEMENT

 

Vipul Patel

Managing Director - India

  • Over 18 years’ experience in food, commodities, entertainment, real estate, consumer products, building materials and green tech
  • Geographical expertise in the UK, EU, Middle East, far East and South Korea
  • Previously led strategy and sales, operations and investments at JVS
  • Previous work includes the development of wind farms, waste-to-power generation models, the establishment of India’s largest pre-cast, monolithic, lightweight building materials manufacturing plants, and facilitating cross-bordr partnerships for green tech enterprises establishing manufacturing facilities in India
  • He holds a degree in Business Management and Finance from Oxford Brookes, with an SME certification from IIM Ahmedabad.
ABOUT US

OUR MANAGEMENT

 

Nikhil Khajuria

Managing Director - India

  • Over 20 years’ experience in investment banking, investment consulting, business development and software development
  • Diversified experience in providing effective business & financial analysis across industries for Investment Banking, M&A Transactions, Global Investment Management, Project Financing, Corporate Finance and Financial Risk Management
  • Assistant Vice President, investment banking at Country Group Securities during 2019 to 2022
  • Investment Consultant for Geddit AS during 2018-2019
  • CFA Charterholder, Certified Financial Risk Manager
  • Holds Certificate in Investment Performance Measurement™ designation
  • Bachelor of Engineering in Information Technology from Shivaji University
ABOUT US

OUR MANAGEMENT

 

Nikhil Khajuria

Managing Director - India

  • Over 20 years’ experience in investment banking, investment consulting, business development and software development
  • Diversified experience in providing effective business & financial analysis across industries for Investment Banking, M&A Transactions, Global Investment Management, Project Financing, Corporate Finance and Financial Risk Management
  • Assistant Vice President, investment banking at Country Group Securities during 2019 to 2022
  • Inetment Consultant for Geddit AS during 2018-2019
  • CFA Charterholder, Certified Financial Risk Manager
  • Holds Certificate in Investment Performance Measurement™ designation
  • Bachelor of Engineering in Information Technology from Shivaji University
ABOUT US

OUR MANAGEMENT

 

David Knull

Managing Director – USA and China

  • Over 20 years’ commercial experience ranging from multinationals to start-ups across Greater China, SE Asia, Europe and the United States.
  • Worked in various industries including private equity, cryptocurrency, business services, e-commerce and global supply chain.
  • Advised numerous Asian corporate and HNW clients on international business development having successfully led business development operations on projects in excess of $50million.
  • Bsc. Marketing and Communications from the University of Maryland, and an MBA from Kinston University.
ABOUT US

OUR MANAGEMENT

 

David Knull

Managing Director – USA and China

  • Over 20 years’ commercial experience ranging from multinationals to start-ups across Greater China, SE Asia, Europe and the United States.
  • Worked in various industries including private equity, cryptocurrency, business services, e-commerce and global supply chain.
  • Advised numerous Asian corporate and HNW clients on international business development having successfully led business development operations on projects in excess of $50million.
  • Bsc. Marketing and Communications from the University of Maryland, and an MBA from Kinston University.
ABOUT US

OUR MANAGEMENT

 

Shruti Kothari

Head of Corporate Communications and Director for Sustainable Development

  • Over 7 years’ experience in media, journalism, communications, health and education.
  • Joined AWR Lloyd in 2020: focused on public relations, client communications strategy and implementation, corporate culture, mental health and wellness, and business continuity.
  • Editor-in-Chief of Masala Magazine (lifestyle), and a Staff Writer for Rabbit Hole Magazine (current affairs), 2015-2020
  • W. W. Norton & Company in New York, 2014
  • BA in Mathematics (Algebra and Cryptography) and Classics (Latin) from Brown University
ABOUT US

OUR MANAGEMENT

 

Shruti Kothari

Head of Corporate Communications and Director for Sustainable Development

  • Over 7 years’ experience in media, journalism, communications, health and education.
  • Joined AWR Lloyd in 2020: focused on public relations, client communications strategy and implementation, corporate culture, mental health and wellness, and business continuity.
  • Editor-in-Chief of Masala Magazine (lifestyle), and a Staff Writer for Rabbit Hole Magazine (current affairs), 2015-2020
  • W. W. Norton & Company in New York, 2014
  • BA in Mathematics (Algebra and Cryptography) and Classics (Latin) from Brown University
ABOUT US

OUR MANAGEMENT

 

Martijn Lips

Managing Director - Project Advisory

  • Experienced Project Management and Advisory Consultant
  • Over 15 years’ experience in capital project and infrastructure developments globally
  • Asia-focused since early 2010, with extensive experience in Central and South-East Asia
  • Experience spans across different sectors: Oil&Gas, Natural Resources, Renewable Energy and Real-Estate & Marinas
  • Director Advisory Group Maritime & Waterways at Royal HaskoningDHV, 2011-20169
  • Previous experiences include project developments in West-Africa, Middle-East and Eastern Europe
  • Educated in Civil Engineering and Business Administration, The Hague University (BSc.) and Royal Melbourne Institute of Technology (MBA)
ABOUT US

OUR MANAGEMENT

 

Martijn Lips

Managing Director - Project Advisory

  • Exerienced Project Management and Advisory Consultant
  • Over 15 years’ experience in capital project and infrastructure developments globally
  • Asia-focused since early 2010, with extensive experience in Central and South-East Asia
  • Experience spans across different sectors: Oil&Gas, Natural Resources, Renewable Energy and Real-Estate & Marinas
  • Director Advisory Group Maritime & Waterways at Royal HaskoningDHV, 2011-2016
  • Previous experiences include project developments in West-Africa, Middle-East and Eastern Europe
  • Educated in Civil Engineering and Business Administration, The Hague University (BSc.) and Royal Melbourne Institute of Technology (MBA)
ABOUT US

OUR MANAGEMENT

 

Charaka Sumanasekara

Managing Director - South Asia, Middle East and Africa

  • Over 20 year's experience in all aspects of market entry through to commercial and economic evaluation, business and operations planning to business process optimization.
  • Managing Director at AWR Lloyd from February 2020
  • Focused on oil & gas, maritime, commodities trading, construction, industrial, transport, energy (power), information technology, human resources sectors
  • Executive Director of SBT LLC, 2015 - present
  • Advisor for business development Oman and GCC to Global Energy Singapore, 2016 to present
  • Director of DCC Maritime, 2012 - 2015
  • Senior Project Manager Standard Bank, 2007 – 2012
ABOUT US

OUR MANAGEMENT

 

Charaka Sumanasekara

Managing Director - South Asia, Middle East and Africa

  • Over 20 year's experience in all aspects of market entry through to commercial and economic evaluation, business and operations planning to business process optimization.
  • Managing Director at AWR Lloyd from February 2020
  • Focused on oil & gas, maritime, commodities trading, construction, industrial, transport, energy (power), information technology, human resources sectors
  • Executive Director of SBT LLC, 2015 - present
  • Advisor for business development Oman and GCC to Global Energy Singapore, 2016 to present
  • Director of DCC Maritime, 2012 - 2015
  • Senior Project Manager Standard Bank, 2007 – 2012
ABOUT US

OUR MANAGEMENT

 

Tuong Thi Thu Hanh

Managing Director - Vietnam & North Asia

  • Over 20 years' experience in investment banking and corporate banking mainly focused on the energy and infrastructure sectors
  • Joined AWR Lloyd in 2015 as Managing Director for Vietnam and North Asia
  • Director of Investment Banking at PetroVietnam Securities, Ho Chi Minh City, 2011-15: M&A transactions, privatizations, IPOs and private placements
  • Director of M&A and Head of Institutional Sales at ACB Securities, Hanoi, 2008-11: investment advisory, brokerage, underwriting, M&A
  • Bank for Investment & Development of Vietnam (BIDV), Hanoi, 2001-08: corporate planning and banking services
  • Vinalines, shipping group, 1996-1998.
  • MBA from the Universite Libre de Bruxelles; degrees in International Business & Economics from the Deventer Business School in Accounting & Finance, and the National Economics University, Hanoi
ABOUT US

OUR MANAGEMENT

 

Tuong Thi Thu Hanh

Managing Director - Vietnam & North Asia

  • Over 20 years' experience in investment banking and corporate banking mainly focused on the energy and infrastructure sectors
  • Joined AWR Lloyd in 2015 as Managing Director for Vietnam and North Asia
  • Director of Investment Banking at PetroVietnam Securities, Ho Chi Minh City, 2011-15: M&A transactions, privatizations, IPOs and private placements
  • Director of M&A and Head of Institutional Sales at ACB Securities, Hanoi, 2008-11: investment advisory, brokerage, underwriting, M&A
  • Bank for Investment & Development of Vietnam (BIDV), Hanoi, 2001-08: corporate planning and banking services
  • Vinalines, shipping group, 1996-1998.
  • MBA from the Universite Libre de Bruxelles; degrees in International Business & Economics from the Deventer Business School in Accounting & Finance, and the National Economics University, Hanoi
ABOUT US

OUR MANAGEMENT

 

Max Johnson

Managing Director, Corporate Finance

  • Over 14 years' experience in investment banking, private equity and commodity trading.
  • Co-founded a corporate finance advisory boutique called Max Murray Ltd (MML) based out of Hong Kong and London. He is licensed (Type 4, 6 and 9) by the Hong Kong Securities & Futures Commission.
  • MD at GEMS, a private equity fund management group in Hong Kong with approximately US$850M AUM, making investments in Asia-Pacific region.
  • Worked at Goldman Sachs in Hong Kong on M&A, LBOs, IPOs, equity and debt market issuance and real estate assignments across Asia-Pacific, 2013-16
  • Worked at Wogen Resources, 2010-12, a British physical metals trading company, based in Beijing, in charge of Business Development with a focus on Russia and Asia-Pacific
  • Educated at Oxford University (Modern Languages) and Tsinghua University, Beijing (MBA)
ABOUT US

OUR MANAGEMENT

 

Max Johnson

Managing Director, Corporate Finance

  • Over 14 years' experience in investment banking, private equity and commodity trading.
  • Co-founded a corporate finance advisory boutique called Max Murray Ltd (MML) based out of Hong Kong and London. He is licensed (Type 4, 6 and 9) by the Hong Kong Securities & Futures Commission.
  • MD at GEMS, a private equity fund management group in Hong Kong with approximately US$850M AUM, making investments in Asia-Pacific region.
  • Worked at Goldman Sachs in Hong Kong on M&A, LBOs, IPOs, equity and debt market issuance and real estate assignments across Asia-Pacific, 2013-16
  • Worked at Wogen Resources, 2010-12, a British physical metals trading company, based in Beijing, in charge of Business Development with a focus on Russia and Asia-Pacific
  • Educated at Oxford University (Modern Languages) and Tsinghua University, Beijing (MBA)
ABOUT US

OUR MANAGEMENT

 

Nicolas Ponset

Managing Director, Sustainability

  • Social impact, ESG and sustainability specialist
  • Over two decades of strategy consulting, data analytics and corporate finance across the private, public and nonprofit sectors
  • Expertise in health and social care, education, financial services, energy, technology and manufacturing.
  • Founded Aleron Partners, a UK-based strategy and data analytics consultancy focused on social impact and sustainability and delivered over 500 projects since 2010.
  • Co-founder of YewMaker and the Sustainable Medecines Partnership to develop sustainable solutions in the pharmaceutical sector
  • Co-founded Machinable in 2017, an AI and machine learning advisory firm
  • Co-founded ChangeSquare to help high-growth ventures to raise impact investment
  • Former Director in Strategy & Business Development at JPMorgan's investment bank (2007-2010)
  • Senior roles at Accenture and IBM in their data analytics, business development and strategy practices (1999 - 2007)
  • Graduated from Institut d'Etudes Politiques de Paris (Sciences Po) and holds Master degrees in Finance and Corporate Law.
  • Senior advisor to Foundation de France and Institut Pasteur, and a fellow of the Royal Society of Arts.
ABOUT US

OUR MANAGEMENT

 

Nicolas Ponset

Managing Director, Sustainability

  • Social impact, ESG and sustainability specialist
  • Over two decades of strategy consulting, data analytics and corporate finance across the private, public and nonprofit sectors
  • Expertise in health and social care, education, financial services, energy, technology and manufacturing.
  • Founded Aleron Partners, a UK-based strategy and data analytics consultancy focused on social impact and sustainability and delivered over 500 projects since 2010.
  • Co-founder of YewMaker and the Sustainable Medecines Partnership to develop sustainable solutions in the pharmaceutical sector
  • Co-founded Machinable in 2017, an AI and machine learning advisory firm
  • Co-founded ChangeSquare to help high-growth ventures to raise impact investment
  • Former Director in Strategy & Business Development at JPMorgan's investment bank (2007-2010)
  • Senior roles at Accenture and IBM in their data analytics, business development and strategy practices (1999 - 2007)
  • Graduated from Institut d'Etudes Politiques de Paris (Sciences Po) and holds Master degrees in Finance and Corporate Law.
  • Senior advisor to Foundation de France and Institut Pasteur, and a fellow of the Royal Society of Arts.
ABOUT US

OUR MANAGEMENT

 

Nadda Trisrisupa

Group Managing Director – Corporate Development

  • Over 15 years’ experience in operations management and venture development
  • Head of CEO Office at AWR Lloyd since 2011: CEO support, financial management, governance systems, information systems, contract management, human resources, training, CSR.
  • Client and partner co-ordination and business development support for AWR Lloyd in the energy and infrastructure sectors in India and Southeast Asia
  • Manager of an international training program in peace and conflict resolution at the Rotary Center in Peace & Conflict Resolution, Chulalongkorn University 2007-11: managing professional training programmes, support to lecturers, trip organisation, public relations, CSR, event management
  • BA (First Class Honors) in Information Science from Thammasat University, Bangkok, Thailand; MA, Language Institute, Thammasat University
ABOUT US

OUR MANAGEMENT

 

Nadda Trisrisupa

Group Managing Director – Corporate Development

  • Over 15 years’ experience in operations management and venture development
  • Head of CEO Office at AWR Lloyd since 2011: CEO support, financial management, governance systems, information systems, contract management, human resources, training, CSR.
  • Client and partner co-ordination and business development support for AWR Lloyd in the energy and infrastructure sectors in India and Southeast Asia
  • Manager of an international training program in peace and conflict resolution at the Rotary Center in Peace & Conflict Resolution, Chulalongkorn University 2007-11: managing professional training programmes, support to lecturers, trip organisation, public relations, CSR, event management
  • BA (First Class Honors) in Information Science from Thammasat University, Bangkok, Thailand; MA, Language Institute, Thammasat University
ABOUT US

OUR MANAGEMENT

 

Ashreya Shrestha

Chief Operating Officer and Director for Sustainable Development

  • Over 8 years experience in the field of strategy development, grant development, donor relations, portfolio management, knowledge management and administration
  • Chief Operating Officer for the Citywide Inclusive Sanitation Technical Assistance Hub South Asia - an initiative of the Bill & Melinda Gates Foundation
  • Managed over 30 sanitation technical assistance projects across South Asia and successfully negotiated a leverage of c. $1Bn in project value, creating fertile ground for further bank investments and maximizing impacts in water and sanitation projects in South Asia
  • Former Outreach and Knowledge Management Specialist at the Food & Agriculture Organization (FAO) under the Office of the Chief Scientist - 2021-22
  • Former Corporate Development Manager at AWR Lloyd - 2018-19
  • Masters in Disaster Preparedness, Mitigation & Management from the Asian Institute of Thailand; Masters in International Relations from Webster University; Bachelors in International Relations from Webster University
ABOUT US

OUR MANAGEMENT

 

Ashreya Shrestha

Chief Operating Officer and Director for Sustainable Development

  • Over 8 years experience in the field of strategy development, grant development, donor relations, portfolio management, knowledge management and administration
  • Chief Operating Officer for the Citywide Inclusive Sanitation Technical Assistance Hub South Asia - an initiative of the Bill & Melinda Gates Foundation
  • Managed over 30 sanitation technical assistance projects across South Asia and successfully negotiated a leverage of c. $1Bn in project value, creating fertile ground for further bank investments and maximizing impacts in water and sanitation projects in South Asia
  • Former Outreach and Knowledge Management Specialist at the Food & Agriculture Organization (FAO) under the Office of the Chief Scientist - 2021-22
  • Former Corporate Development Manager at AWR Lloyd - 2018-19
  • Masters in Disaster Preparedness, Mitigation & Management from the Asian Institute of Thailand; Masters in International Relations from Webster University; Bachelors in International Relations from Webster University
ABOUT US

OUR MANAGEMENT

 

Vivek Mantri

Managing Director

  • Over a decade of experience in management consulting across sectors including conventional and renewable power, infrastructure, and banking and financial services.
  • Joined AWR Lloyd in 2018 and became a Managing Director in 2023.
  • Focused on infrastructure, energy, and natural resources projects across the Asia-Pacific region and and industrial sectors in Europe.
  • Experience in transaction advisory, including capital raising and corporate due diligence.
  • BA in Accounting from University of British Columbia and an MBA in Finance and Management from Sasin Graduate Institute of Business Administration at Chulalongkorn University.
ABOUT US

OUR MANAGEMENT

 

Vivek Mantri

Managing Director

  • Over a decade of experience in management consulting across sectors including conventional and renewable power, infrastructure, and banking and financial services.
  • Joined AWR Lloyd in 2018 and became a Managing Director in 2023.
  • Focused on infrastructure, energy, and natural resources projects across the Asia-Pacific region and and industrial sectors in Europe.
  • Experience in transaction advisory, including capital raising and corporate due diligence.
  • BA in Accounting from University of British Columbia and an MBA in Finance and Management from Sasin Graduate Institute of Business Administration at Chulalongkorn University.
ABOUT US

OUR MANAGEMENT

 

Alexander Wood

CEO and MD for UK, Europe & Americas

  • Corporate strategist and Asian M&A specialist
  • Over 30 years’ experience in energy, resources and infrastructure investment banking, strategy consulting, and venture management
  • Co-founded AWR Lloyd in 2000, and became CEO in 2010
  • Asia-focused since the mid-1990s, with extensive experience in India, China, Indonesia, Thailand, Vietnam, and Myanmar
  • Established AWR Lloyd’s Strategy Consulting, and Equity Advisory & Investor Relations practices.
  • Has led the firm’s strategy consulting service to Banpu since 2000
  • VP at Paribas in London and Paris, 1991-1999: M&A, Equity Capital Markets, Corporate Banking – Mining & Metals, O&G
  • Chairman of the Association of Mining Analysts, London, 1997-98
  • Educated in Economics and History, London School of Economics (BSc Econ) and Oxford University (MSt.)
ABOUT US

OUR MANAGEMENT

 

Alexander Wood

CEO and MD for UK, Europe & Americas

  • Corporate strategist and Asian M&A specialist
  • Over 30 years’ experience in energy, resources and infrastructure investment banking, strategy consulting, and venture management
  • Co-founded AWR Lloyd in 2000, and became CEO in 2010
  • Asia-focused since the mid-1990s, with extensive experience in India, China, Indonesia, Thailand, Vietnam, and Myanmar
  • Established AWR Lloyd’s Strategy Consulting, and Equity Advisory & Investor Relations practices.
  • Has led the firm’s strategy consulting service to Banpu since 2000
  • VP at Paribas in London and Paris, 1991-1999: M&A, Equity Capital Markets, Corporate Banking – Mining & Metals, O&G
  • Chairman of the Association of Mining Analysts, London, 1997-98
  • Educated in Economics and History, London School of Economics (BSc Econ) and Oxford University (MSt.)
End of Shareholder primacy ?

Global business leaders are shifting away from Milton Friedman’s concept of Shareholder Primacy (that the sole purpose of business is to maximize returns) and moving towards Stakeholder Capitalism: the idea that business should serve all stakeholders: employees, customers, suppliers, communities, and shareholders and as well as environment. Our panel discussion in collaboration with TMA, discussed about the following with representatives from Krungthai-AXA, Indorama Venture and C.P. Group.

Discussion points:

  • What is Stakeholder Capitalism? And why are corporates moving towards it?
  • How can corporates change their focus towards Stakeholder Capitalism?
  • What are some examples of corporates following Stakeholder Capitalism?
  • What are the key challenges in moving your company to align with Stakeholder Capitalism?
End of Shareholder primacy ?

Global business leaders are shifting away from Milton Friedman’s concept of Shareholder Primacy (that the sole purpose of business is to maximize returns) and moving towards Stakeholder Capitalism: the idea that business should serve all stakeholders: employees, customers, suppliers, communities, and shareholders and as well as environment. Our panel discussion in collaboration with TMA, discussed about the following with representatives from Krungthai-AXA, Indorama Venture and C.P. Group.

Discussion points:

  • What is Stakeholder Capitalism? And why are corporates moving towards it?
  • How can corporates change their focus towards Stakeholder Capitalism?
  • What are some examples of corporates following Stakeholder Capitalism?
  • What are the key challenges in moving your company to align with Stakeholder Capitalism?
Beyond ESG disclosure:

Outperformance with sustainability-focused innovation:

Going forward, value creation will largely come from strategic innovation that places sustainability at its core.

While organizations need to adhere to existing and new accounting and disclosure frameworks (e.g. Taskforce on Nature-related Financial Disclosure), company purpose and strategy must increasingly focus on sustainability. This event discussed the inherent challenges around integrating sustainability into strategic innovation and investment.

Beyond ESG disclosure:

Outperformance with sustainability-focused innovation:

Going forward, value creation will largely come from strategic innovation that places sustainability at its core.

While organizations need to adhere to existing and new accounting and disclosure frameworks (e.g. Taskforce on Nature-related Financial Disclosure), company purpose and strategy must increasingly focus on sustainability. This event discussed the inherent challenges around integrating sustainability into strategic innovation and investment.

CVC for SDGs
From no deforestation pledges, net zero targets, circular economy commitments, inclusive business strategies, etc., companies are under increasing pressure to urgently alter business practices and sources of revenues. Investing in early-stage and innovative companies—with both feet in a low-carbon and sustainable future—and using corporate resources to help them grow, is increasingly a central component of corporate strategy; and the central premise of AWR Lloyd’s Innovation for Sustainability practice.

In collaboration with TMA, we held a webinar and panel discussion with SDGx, Wright Partners and PTT ExpresSo, on CVC for SDGs on 5th October, 2021 to provide insights on different corporate venture approaches to identify, invest in, and scale innovative enterprises that directly contribute towards the Sustainable Development Goals (SDGs).

CVC for SDGs

From no deforestation pledges, net zero targets, circular economy commitments, inclusive business strategies, etc., companies are under increasing pressure to urgently alter business practices and sources of revenues. Investing in early-stage and innovative companies—with both feet in a low-carbon and sustainable future—and using corporate resources to help them grow, is increasingly a central component of corporate strategy; and the central premise of AWR Lloyd’s Innovation for Sustainability practice.

In collaboration with TMA, we held a webinar and panel discussion with SDGx, Wright Partners and PTT ExpresSo, on CVC for SDGs on 5th October, 2021 to provide insights on different corporate venture approaches to identify, invest in, and scale innovative enterprises that directly contribute towards the Sustainable Development Goals (SDGs).

Climate Change and Net Zero

Companies are under increasing pressure to commit to ‘Net Zero’ greenhouse gas emission targets. However, the substance and clarity behind these ambitions, if agreed to by companies, is generally lacking. AWR Lloyd and TMA have organized a 90-minute webinar and panel discussion to provide assessment of why companies struggle to define their net zero pathway, which companies do this well, and what innovations, from technology to business models, are likely to make material contributions towards achieving net zero.

Climate Change and Net Zero

Companies are under increasing pressure to commit to ‘Net Zero’ greenhouse gas emission targets. However, the substance and clarity behind these ambitions, if agreed to by companies, is generally lacking. AWR Lloyd and TMA have organized a 90-minute webinar and panel discussion to provide assessment of why companies struggle to define their net zero pathway, which companies do this well, and what innovations, from technology to business models, are likely to make material contributions towards achieving net zero.

Risk & Crisis Management

Lessons Learned From C-19 & Preparation for Future Crises

An increasingly important aspect of corporate management is crisis and risk management. From an ESG perspective, investors are keen to understand company policies, procedures and capabilities for anticipating and responding to increasing environmental and social crises—from climate change to reputational risks. The C-19 pandemic has provided a test regarding the effectiveness of company risk assessment and response capabilities, as well as the importance of public-private sector coordination.

AWR Lloyd and FHI 360 developed a partnership in 2020 to support companies and countries in the effective management of COVID-19—from UAE, Iraq, to Papua New Guinea. FHI 360 has also provided COVID-19 advisory in South America and Africa.

In this event, the speakers will provide TMA members with an overview of the many lessons learned in responding to the pandemic for both private and public sectors, what lies ahead as we accelerate to reopen economies; and, importantly, what have we learned about corporate resilience during the C-19 pandemic that can better prepare us for the next crisis.

Risk & Crisis Management

Lessons Learned From C-19 & Preparation for Future Crises

An increasingly important aspect of corporate management is crisis and risk management. From an ESG perspective, investors are keen to understand company policies, procedures and capabilities for anticipating and responding to increasing environmental and social crises—from climate change to reputational risks. The C-19 pandemic has provided a test regarding the effectiveness of company risk assessment and response capabilities, as well as the importance of public-private sector coordination.

AWR Lloyd and FHI 360 developed a partnership in 2020 to support companies and countries in the effective management of COVID-19—from UAE, Iraq, to Papua New Guinea. FHI 360 has also provided COVID-19 advisory in South America and Africa.

In this event, the speakers will provide TMA members with an overview of the many lessons learned in responding to the pandemic for both private and public sectors, what lies ahead as we accelerate to reopen economies; and, importantly, what have we learned about corporate resilience during the C-19 pandemic that can better prepare us for the next crisis.

ESG Survey 2021

With increasing knowledge, media coverage and public interest, ESG factors have become core to evaluating business resilience and long-term sustainability. For Thai companies, ESG has become one of the most important growth areas and a strategic priority.

AWR Lloyd and TMA designed this ESG Survey to discover how Thai business leaders perceive ESG, through questions regarding Awareness, Barriers, Risks & Opportunities, and Integration. While we highlight a range of insights gleaned from the responses throughout the report, we found three recurring themes:

The increasing importance of Governance and Risk and Crisis Management

The need for additional staff and training—especially among SMEs

The growing focus on value-creating strategies that go beyond simply meeting ESG disclosure requirements to fully integrate ESG into the business

This Survey captures a unique set of data for three reasons. First, it was conducted during a deadly third wave of COVID-19 in Thailand, which

propelled into prominence the ‘G’ dimension of ESG. Second, the respondents are all senior decision-makers (Board Members, CxOs and management), thus their outlook has a high impact on the Thai business community. Lastly, the diverse composition of TMA members, and therefore Survey respondents (who represent companies from eight sectors, with annual revenues ranging from below US$ 2 million to over US$ 2 billion), illustrate a vast spectrum of perspectives across the Thai business ecosystem

ESG AGENDA 2021

With increasing knowledge, media coverage and public interest, ESG factors have become core to evaluating business resilience and long-term sustainability. For Thai companies, ESG has become one of the most important growth areas and a strategic priority.

AWR Lloyd and TMA designed this ESG Survey to discover how Thai business leaders perceive ESG, through questions regarding Awareness, Barriers, Risks & Opportunities, and Integration. While we highlight a range of insights gleaned from the responses throughout the report, we found three recurring themes:

The increasing importance of Governance and Risk and Crisis Management

The need for additional staff and training—especially among SMEs

The growing focus on value-creating strategies that go beyond simply meeting ESG disclosure requirements to fully integrate ESG into the business

This Survey captures a unique set of data for three reasons. First, it was conducted during a deadly third wave of COVID-19 in Thailand, which

propelled into prominence the ‘G’ dimension of ESG. Second, the respondents are all senior decision-makers (Board Members, CxOs and management), thus their outlook has a high impact on the Thai business community. Lastly, the diverse composition of TMA members, and therefore Survey respondents (who represent companies from eight sectors, with annual revenues ranging from below US$ 2 million to over US$ 2 billion), illustrate a vast spectrum of perspectives across the Thai business ecosystem

ESG AGENDA 2021

The End of Shareholder Primacy ?

Global business leaders are shifting away from Milton Friedman’s concept of Shareholder Primacy (that the sole purpose of business is to maximize returns) and moving towards Stakeholder Capitalism: the idea that business should serve all stakeholders: employees, customers, suppliers, communities, and shareholders and as well as environment. Our panel discussion in collaboration with TMA, discussed about the following with representatives from Krungthai-AXA, Indorama Venture and C.P. Group.

Discussion points:

  • What is Stakeholder Capitalism? And why are corporates moving towards it?
  • How can corporates change their focus towards Stakeholder Capitalism?
  • What are some examples of corporates following Stakeholder Capitalism?
  • What are the key challenges in moving your company to align with Stakeholder Capitalism?
ESG AGENDA 2021

The End of Shareholder Primacy ?

Global business leaders are shifting away from Milton Friedman’s concept of Shareholder Primacy (that the sole purpose of business is to maximize returns) and moving towards Stakeholder Capitalism: the idea that business should serve all stakeholders: employees, customers, suppliers, communities, and shareholders and as well as environment. Our panel discussion in collaboration with TMA, discussed about the following with representatives from Krungthai-AXA, Indorama Venture and C.P. Group.

Discussion points:

  • What is Stakeholder Capitalism? And why are corporates moving towards it?
  • How can corporates change their focus towards Stakeholder Capitalism?
  • What are some examples of corporates following Stakeholder Capitalism?
  • What are the key challenges in moving your company to align with Stakeholder Capitalism?
The State of Green Finance
AWR Lloyd and TMA organized a 90 minute webinar and panel discussion on 9th September to provide an overview of the key trends and benefits for investors and businesses when it comes to raising and deploying ‘Green Finance’. This webinar bought together experts from Thai Union, Climate Bonds Initiative and AWR Lloyd to discuss the key points:

  • What is Green Finance and its market overview?
  • What are its benefits to corporate and investors?
  • How can Thai corporate access Green Finance?
The State of Green Finance

AWR Lloyd and TMA organized a 90 minute webinar and panel discussion on 9th September to provide an overview of the key trends and benefits for investors and businesses when it comes to raising and deploying ‘Green Finance’. This webinar bought together experts from Thai Union, Climate Bonds Initiative and AWR Lloyd to discuss the key points:

  • What is Green Finance and its market overview?
  • What are its benefits to corporate and investors?
  • How can Thai corporate access Green Finance?

OUR SERVICES

PROJECTS & VENTURES

 

Industry & Market Studies

AWR Lloyd provides global, regional and country-focused studies which analyze the structure and economic dynamics of supply, demand and trade flows for different industries and markets in the energy, resources and infrastructure sectors.

We analyze industry structure and dynamics now and into the long term. Our industry and market studies are used in conjunction with other modules including: detailed discounted cashflow forecasts (Valuation: DCF & SOTP), feasibility studies (Project FS & Contracts), due diligence reviews (Investment Evaluation & DD), IPO prospectuses (IPOs & Spin-Offs) and new market entry strategies (Growth Strategy & Systems).

On the supply-side we analyze the structure of corporate control in an industry, resources, reserves, processing capacities, technologies, operating costs, capital costs, logistics and trade flows. On the demand-side we analyze the long-term drivers of demand in different geographic areas and by application, giving consideration to price sensitivities, substitution dynamics and the behavior and trends amongst key consumer groups. We also assess historical price trend correlations, market sentiment, cyclical tendencies and the impact of financial institutions in commodity markets.

OUR SERVICES

PROJECTS & VENTURES

 

Project Feasibility & Contracts

AWR Lloyd can provide pre-feasibility studies and the market and financial components for bankable feasibility studies for greenfield and brownfield projects in the energy, resources and infrastructure setors.
Our studies include analysis of the dynamics and structure of potential market demand, pricing, competitors, competitive advantages, preliminary technical parameters, infrastructure, transport and logistics, sponsors, management, HR, socio-environmental issues, development costs, operating cost scenarios and net present value.

For project financial models we focus in initially on building up a set of assumptions and scenarios. We do this through a combination of our own experience, networks and databases, site due diligence, our client’s information and databases, engineers’ estimates and public sources. In most cases an independent technical consultant or engineering advisor will be appointed by the client and their cost and timeline estimates will form the core part of a ‘base case’ set of assumptions. Key assumptions (depending on the industry) normally include project construction timeline, capital expenditure, operating cost structure, feedstock and raw materials pricing, demand and utilization scenarios, off-take pricing, depreciation, tax, debt finance and the cost of equity capital.

We provide recommendations in relation to potential financing structures and overall techno-economic feasibility. AWR Lloyd relies very much on local resources and connections to gather intelligence and on grass-roots analysis to support recommendations.

In cases where projects require long term raw materials supply agreements (e.g. fuel supply for power projects) or long term off-take agreements (e.g. tank rental contracts for oil tank farms), AWR Lloyd can assist in the process of identifying and short-listing potential suppliers or off-takers – and can support the negotiation of such contracts.

AWR Lloyd also provides a contract and commercial agreement advisory service focused on the evaluation and negotiation of PPAs, Fuel Supply Agreements and oil tank rental agreements working in conjunction with a client’s appointed lawyers.

OUR SERVICES

EQUITY ADVISORY

 

Project Finance Advisory

AWR Lloyd helps secure project finance on the best terms available from financial institutions for projects in the energy, resources and infrastructure sectors.

We help clients construct detailed project financial models with sensitivity and scenario analysis. We also provide detailed analysis of raw materials costs and off-take demand. We help in putting together initial term sheets and in identifying and compiling a target list of potential lenders for the project including local banks, international banks, export credit agencies, private equity funds and other sources.

AWR Lloyd assists in arranging meetings with lenders, presenting the project, arranging NDAs, organizing data rooms and co-ordinating site visits and meetings with the client. AWR Lloyd advises on short-listing lenders and in negotiating final terms.

OUR SERVICES

EQUITY ADVISORY

 

IPOs & Spin-offs

In the case of IPOs, divestments, unbundling or spin-off transactions where the company or asset in question is to be listed on a stock exchange, AWR Lloyd will follow a similar procedure for a divestment (see ‘Divestments & Privatisations’) but also focusing on the listing prospectus, listing regulations, communication with the stock exchange and investor communications planning.

AWR Lloyd advises clients in relation to the pros and cons of different stock market listing venues – such as the London Stock Exchange main market, the London AIM market, the ASX, the Hong Kong Stock Exchange and the Singapore Stock Exchange.

AWR Lloyd advises clients preparing for IPOs on offer structure (e.g. primary versus secondary shares), pricing, equity capital market conditions, timing and positioning and process management. We can help in the process of beauty contests and appointment of investment banks, lawyers and engineering advisors (e.g. for JORC-based ‘Competent Persons Reports’). AWR Lloyd advises on fund manager, analyst and business press ‘targeting’ – and helps plan for and manage domestic and international roadshows (in conjunction with the appointed brokers).

Based on interviews with management and Market Signals Analysis we help prepare the company’s ‘growth story’ and ‘value proposition’. We provide prospectus support and reviews (in conjunction with lawyers and other advisors), investor and analyst presentation composition, website improvements, news releases and results presentation support. We also help clients planning IPOs to develop an IR team with training workshops, IR guidebooks and standard operating procedures (IR Programme).

For stock exchange listing methods we can advise in relation to listing by way of ‘introduction’, primary offer (via share issuance on a new exchange), secondary offer (sell-down by existing shareholders), subsidiary listings, reverse takeovers, dual-listed company structures and unbundling or spin-off mechanisms.

OUR SERVICES

EQUITY ADVISORY

 

Investment Evaluation & DD

AWR Lloyd advises private equity funds, listed equity funds and corporate clients on investments in the energy, mining, metals, infrastructure and real estate sectors in Asia-Pacific.

AWR Lloyd helps clients to evaluate potential investments. AWR Lloyd can provide a full due diligence service including interviews, site visits, report write-ups, presentations to investment committees – and supervision and co-ordination of technical, legal, accounting and environmental due diligence consultants.

We perform valuation analysis using best practice valuation techniques and provide our views on key value drivers, upside potential, risks and potential investment returns. Our work helps our clients to better understand the value dynamics and risks of assets and helps them to structure their investments accordingly.

After an initial investment has been made, AWR Lloyd also helps clients to monitor their investments by preparing update reports. Update reports provide reviews of assumptions, updated discounted cash flow analysis, market multiples analysis and commodity price forecasts.

Since commodity prices are crucial to the valuation of mining and energy assets, AWR Lloyd also provides commodity outlook reports on different commodities. The reports not only help our clients understand the value of their investments so they can rebalance their portfolios but they also help them to identify new investment opportunities in commodities outside their current portfolio. These reports cover demand analysis, supply analysis, price forecasts, views and quotes from industry participants.

OUR SERVICES

EQUITY ADVISORY

 

Divestments & Privatisations

The divestment (sell-side) process is inevitably very similar to the procedure for planning and executing a corporate deal from the buy-side (see M&A Advisory) and involves most of the same skills and work from AWR Lloyd as an advisor.
AWR Lloyd first agrees a timeline and process with the client. We conduct an in-depth evaluation of the company or asset in question and develop a detailed discounted cash flow (DCF) valuation analysis. We also prepare multiples analysis based on listed company values and M&A transactions to support the DCF analysis.

AWR Lloyd typically prepares an anonymous ‘teaser’ note, an information memorandum and a roadshow presentation. In most cases we also assist in the preparation of a data room. We prepare a list of potential acquirers (e.g. private equity funds, industry players, trading companies…) with short profiles and advise on prioritization and tactics for approaching them. We assist in preparing buyer meeting roadshows and then either conduct them ourselves or in conjunction with our client.

We then facilitate exchange of confidentiality agreements and transmission of preliminary information materials to potential acquirers. After submission of indicative bids we then advise on short-listing, MOUs and facilitate site visits, data room access and due diligence meetings for short-listed buyers. AWR Lloyd then assists in the final negotiations, structuring and transaction documentation in conjunction with the client’s lawyers and any other advisors.

OUR SERVICES

EQUITY ADVISORY

 

Takeover Defense

AWR Lloyd advises listed clients with high free floats on takeover and activist shareholder contingency planning and defense.
We first assess how potential predators might approach a takeover – for example via a ‘bear hug’ approach, an initial strategic minority position or via a direct all-out hostile takeover offer. We then assess who the potential predators might be and profile them (trackrecords re value creation, M&A pricing, governance…). We can prepare contingency ‘negative PR’ and IR action plans on this basis.

AWR Lloyd then focuses on the company’s own internal valuation and the fundamental value which the company plans on delivering over the next five years or so. We assess where the company’s share price stands in comparison with these valuations and develop investor relations and restructuring strategies to try and push the share price closer to these value targets.

We help our clients prepare and draft outline defense investor roadshow presentations including management trackrecord in value creation and governance, the company’s current strategic plan and new positive disclosures.

We agree a takeover offer Decision Matrix with our clients and prepare possible litigation and regulatory defense actions, white knight contingencies, poison pill strategies and stakeholder protection contingency plans (e.g. parachutes and ESOP schemes). AWR Lloyd can help clients prepare and think through scenarios by using ‘wargame’ simulation workshop techniques.

OUR SERVICES

EQUITY ADVISORY

 

Equity Capital Raising

AWR Lloyd helps its clients prepare for and execute equity capital raising or placement transactions. We first conduct a detailed evaluation of the company or asset in question and develop a robust discounted cash flow (DCF) valuation analysis. We also prepare multiples analysis based on listed company values and M&A transactions to support the DCF analysis.
We then prepare funding requirement and capital structure analysis to justify the size of the equity capital raising required. The combination of the valuation analysis and financial plan will determine the indicative percentage shareholding that the new investors will receive for their investment.

AWR Lloyd prepares an investor ‘teaser’, a prospectus or information memorandum and an investor presentation. In most instances we also assist in the preparation of a data room.

We propose a list of potential investors (e.g. private equity funds, industry players, trading companies…) with short profiles and advise on prioritization and tactics for approaching them. We assist in preparing investor meeting roadshows and then either conduct them ourselves or in conjunction with our client.

We then facilitate exchange of confidentiality agreements and transmission of preliminary information materials to potential investors. After submission of indicative bids we then advise on short-listing and facilitate site visits, data room access and due diligence meetings for short-listed investors.

AWR Lloyd then assists in the final negotiations, structuring and transaction documentation in conjunction with the client’s lawyers and any other advisors.

OUR SERVICES

EQUITY ADVISORY

 

M&A Advisory
AWR Lloyd provides a full concept-to-completion M&A advisory service as well as transaction management services and specific deal support services.

For buy-side clients, full service approach is split into five phases:

  • Phase I: Target Criteria & Desktop Evaluation
  • Phase II: Initial Approach & Evaluation
  • Phase III: Indicative Offer & Detailed Evaluation
  • Phase IV: Documentation & Completion
  • Phase V: Integration & Value Creation

 

Throughout these five phases, there are always six parallel themes which form the focus of our activity and analysis:

  1. 1) Profiling: profiling the companies, assets and investors involved
  2. 2) Valuation: of targets on an ‘as is’ basis under existing management
  3. 3) Value Creation Plan: how the acquirer intends to add value to the assets post-acquisition or how the merger will generate value
  4. 4) Risks & Feasibility: the feasibility of the transaction and the risks of the transaction and assets involved
  5. 5) Structuring & Finance: structuring the transaction and financing it
  6. 6) Approvals: obtaining the necessary investment committee, board, shareholder and regulatory approvals at each stage

 

In the first phase, AWR Lloyd works with the client to set basic target criteria, identify the universe of targets, screen targets, short-list targets and conduct desktop profiles based on publicly available information and AWR Lloyd’s in-house industry databases. The profiling is a basic assessment of target background, shareholders, operations, output, reserves and resources, customers, markets, financial structure and senior management. Valuation is based on simple NPV and multiples valuation analysis. The value creation hypothesis is formed in a preliminary way and basic deal risks and feasibility issues are raised. Tactics for approaching shareholders or management are discussed and agreed.

In the second phase, AWR Lloyd assists in arranging initial meetings with target sponsors, expressions of interest, exchange of confidentiality agreements and receipt of any information packs (e.g. information memorandum). The profiling of the target at this stage will include background analysis, shareholder structure, corporate structure, operations, technology, products, supply sources, customers, markets, pricing, HSE, legal, regulatory, management and financial evaluation. The valuation analysis becomes a more fully worked and detailed discounted cash flow analysis. The value creation plan is tested and formulated in more depth. Risks and deal feasibility are also assessed more accurately.

In the third phase, AWR Lloyd assists with drafting indicative offers and/or MOUs. We also assist with the co-ordination of due diligence (operational, technical, commercial, legal, regulatory and financial) and help with summary write-ups of the main reports by engineers, accounting advisors and lawyers. We base our analysis on data room information, management presentations, detailed Q&A and site visits. We develop our valuation analysis further and assess risks in more depth. We focus as much as we can on testing the value creation hypothesis and helping the client to develop a post-transaction plan. We help the client to develop a financing plan for the transaction (with internally generated cash, debt and/or shares) – and begin to refine the potential deal structure.

In the fourth phase, AWR Lloyd is focused on negotiations and deal structuring. We assist with deal documentation (sale and purchase agreements, reps and warranties, conditions precedent…) in conjunction with lawyers and help to analyze any remaining due diligence and risk issues.

The value creation plan by this stage must become specific and detailed, for example including a clear integration and post-deal HR plan. AWR Lloyd will advise the client throughout the process until completion, signature and execution. In many cases we can also then assist in communication of the transaction to regulatory authorities and to the investment community (via press releases and special analyst meetings).

In the fifth, AWR Lloyd can help its clients with the implementation of its value creation plan. We can assist with orientation meetings, the further development of an integration roadmap and advise on aspects of the execution of the plan. We can help monitor value creation and prepare and support risk review meetings and mitigation plans. Finally, we can advise our clients on any financial planning, refinancing or investor communication relating to the post-deal phase.

OUR SERVICES

STRATEGY CONSULTING

 

Value-Maximizing Medium & Long-Term Strategy

Our Value-Maximizing M&LT Strategy module is normally provided to clients in conjunction with other modules as part of an in-depth strategic review for a client, in particular: Competitive Advantage & Benchmarking Analysis, Growth Strategy & Systems, Industry & Market Studies, Corporate Structure & Equity Market Strategy and Market Signals Analysis.

Value-maximizing strategy tends to be based on asset investment and related HR strategies that focus on deploying a company’s core skills and competitive advantages in markets with significant value growth potential. This way a company can grow market share in an expanding market. AWR Lloyd helps its clients identify core skills, areas of current and latent competitive advantage – and market growth potential.

We advise on the formulation and implementation of medium and long-term corporate strategic plans designed to maximize shareholder value. If a company focuses on its core areas of competence it can divest ‘non-core’ businesses and reinvest the proceeds from divestment in expanding its core businesses.

OUR SERVICES

STRATEGY CONSULTING

 

Investor Relations Programme

Even if a listed company has optimal asset and financial strategies, if it fails to communicate well with the capital markets (or if it has insufficient liquidity), it is unlikely to achieve a fair value share price.

AWR Lloyd first helps clients develop their core ‘value message’ and ‘growth story’ – and then ensures that this is communicated consistently in words and images via all the main corporate communication materials: quarterly results presentations, roadshow presentations, news releases, annual reports, corporate brochures and websites. AWR Lloyd is hands-on in helping clients design and prepare these materials and in providing content.

AWR Lloyd also helps clients set up IR teams and provides training in ‘Fair Value IR’. AWR Lloyd can help develop and implement best practice IR feedback systems and IR management reporting procedures*.

AWR Lloyd has become a leading proponent of best practice ‘fair value’ investor relations* programmes in the Asia-Pacific region, publishing regular feature articles in Asian newspapers (e.g. The Bangkok Post) and lecturing at stock exchange seminars (e.g. the Ho Chi Minh Stock Exchange and the SET). In recent years we have advised several energy, energy finance, mining and real estate companies in Australia, Indonesia, Thailand and Vietnam on IPOs and investor relations strategy.

*Note: Fair Value Investor Relations and IRMR or IR Management Report are proprietary AWR Lloyd analytical tools.

OUR SERVICES

STRATEGY CONSULTING

 

Capital Structure & Funding Strategy

Long range financial planning is based on a combination of capital structure targeting, funding requirement analysis and existing debt redemption schedules.

AWR Lloyd uses a proprietary Medium Term Financial Planning* analytical method. We first help clients set optimal medium and long-term capital structure targets through application of tax efficiency criteria, debt covenants, peer analysis, case studies – and assessment of rating agency benchmarks. We then put together detailed cash flow projection models and assess debt and equity funding requirements under different growth scenarios.

Based on this analysis we then help our clients to develop alternative strategies for raising new debt or equity capital, refinancing existing debt finance, generating proceeds from divestment or spin-offs – and/or exploiting excess cash (low gearing) through more aggressive acquisition and investment strategies or via dividends and share buybacks.

*Note: ‘MTF’ or Medium Term Financial Planning is a proprietary AWR Lloyd analytical tool.

OUR SERVICES

STRATEGY CONSULTING

 

Competitive Advantage & Benchmarking

AWR Lloyd conducts independent (and if necessary anonymous) interviews with fund managers and sell-side analysts to get in-depth feedback about how they value a client, how they view its strategy – and how they see the company’s investor relations programme.

AWR Lloyd provides peer benchmarking analysis for clients around various metrics including return on capital, costs, efficiency, productivity, margins, valuation multiples, management systems and business models.

The firm also provides in-depth core skills and competitive advantage analysis which looks at capabilities around all parts of the value-chain and corporate management including raw materials procurement, logistics management, country risk experience, operational and technical, project management and deal experience, finance, marketing, investor relations and governance. AWR Lloyd conducts the competitive advantage analysis through a combination of management interviews, stakeholder interviews and peer benchmarking.

AWR Lloyd uses a Competitive Advantage Scoreboard as part of its Strategic Value Mapping* framework for Value Maximizing M&LT Strategy assignments.
*Note: Strategic Value Mapping is a proprietary AWR Lloyd analytical tool.

OUR SERVICES

STRATEGY CONSULTING

 

Corporate Structure & Equity Market Strategy

AWR Lloyd advises on how corporate structures can be best aligned to connect a company’s core ‘value stories’ with the strongest and most interested segments of the international investment community.
These assignments normally involve a number of sub-modules including: Fair Value Gap Analysis*, holding company discount analysis, takeover and activist shareholder contingency planning, equity capital markets trends and players analysis – and stock exchange listing strategy.

We help companies analyze whether their share prices are trading above or below ‘fair value’ – and what tools a company can deploy to close any gaps. We assess fair value based on best practice DCF (‘Valuation: DCF & SOTP’) and look at whether companies are trading in line with other listed market peers – or whether they are trading at a discount or premium to market multiples. If we reveal significant differences between share price performance and fair value or peer market multiples we then help our clients to understand why – and what they can do about it through investor relations and corporate finance strategies. Our Fair Value Gap Analysis* work is normally conducted in conjunction with a Market Signals Analysis to provide direct third-party investment community feedback.

We advise on optimal stock exchange listing structures and strategies, assessing which stock exchanges provide the best ‘windows’ to the investment and analyst communities most likely to have the interest and financial muscle to support a company’s share price. We assess the structure and trends in equity capital markets and help companies develop strategies for targeting investment institutions and securing analyst research coverage. This work is often used as preparation for IPO & Spin-Offs Transactions Advisory work.

We also advise listed clients with high free floats on takeover predator and activist shareholder contingency strategies. We first assess how potential predators might approach a takeover – for example via a ‘bear hug’ approach, an initial strategic minority position or via a direct all-out hostile takeover offers. We then assess who the potential predators might be and profile them. We recommend preventative measures and contingency plans. AWR Lloyd also provides Takeover Defense Transaction Advisory services if a predator actually takes a position in a company’s shares.
*Note: Fair Value Gap Analysis is a proprietary AWR Lloyd analytical tool.

OUR SERVICES

STRATEGY CONSULTING

 

Market Signals Analysis

AWR Lloyd conducts independent (and if necessary anonymous) interviews with fund managers and sell-side analysts to get in-depth feedback about how they value a client, how they view its strategy – and how they see the company’s investor relations programme.

AWR Lloyd analyzes the feedback and prepares a presentation for the client. The results of the analysis can be used to identify the reasons for any gaps between a share price and ‘fair value’ (Corporate Structure & Equity Market Strategy ‘Fair Value Gap Analysis*’). Once these reasons have been identified, the client can then devise strategies for tackling any misperceptions in the market or for highlighting any of its assets which may be undervalued by the market.

*Note: Fair Value Gap Analysis is a proprietary AWR Lloyd analytical tool.

OUR SERVICES

STRATEGY CONSULTING

 

Growth Strategy & Systems

We advise our clients on the formulation of optimal growth strategies through new projects, investments, joint ventures, mergers and acquisitions including new market entry strategies.

We work with our clients to understand their core areas of competitive advantage and existing growth targets and investment criteria – and propose alternative approaches. We assess existing standard operating procedures (SOP) and management systems for business development and growth planning. Using a proprietary AWR Lloyd SOP framework, ‘Hot List to Watch List*’, we suggest improvements to ensure effective procedures for strategic planning, target screening, evaluation, due diligence, investment committee approvals and final deal structuring.

We analyze demand trends, industry economics and competition in target growth markets. We look at the control structure of industries in different countries – and suggest and profile potential targets.

*Note: Hot List to Watch List is a proprietary AWR Lloyd analytical tool

OUR SERVICES

STRATEGY CONSULTING

 

Valuation: Best Practice DCF & SOTP

Our Value-Maximizing M&LT Strategy module is normally provided to clients in conjunction with other modules as part of an in-depth strategic review for a client, in particular: Competitive Advantage & Benchmarking Analysis, Growth Strategy & Systems, Industry & Market Studies, Corporate Structure & Equity Market Strategy and Market Signals Analysis.

Value-maximizing strategy tends to be based on asset investment and related HR strategies that focus on deploying a company’s core skills and competitive advantages in markets with significant value growth potential. This way a company can grow market share in an expanding market. AWR Lloyd helps its clients identify core skills, areas of current and latent competitive advantage – and market growth potential.

We advise on the formulation and implementation of medium and long-term corporate strategic plans designed to maximize shareholder value. If a company focuses on its core areas of competence it can divest ‘non-core’ businesses and reinvest the proceeds from divestment in expanding its core businesses

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