Centrum Capital

BUSINESS PARTNER

AWR Lloyd is delighted to have entered into a strategic partnership with Centrum Capital. For over two and a half decades Centrum Capital has built a brilliant reputation across a wide range of sectors including Infrastructure, Renewable Energy, Electric Mobility, and Logistics & Warehousing. AWR Lloyd aspires to leverage Centrum’s expertise through our partnership both within-and-beyond India.

“The Centrum-AWR Lloyd alliance will bring fresh and innovative perspectives to clients in India. The new partnership will formulate bespoke solutions and implement transactions for clients in India designed to accelerate transformation to more sustainable business model, capital structures and asset portfolios.”

- Alexander Wood, CEO and Co-Founder of AWR Lloyd

SERVICES

COMPANY

PRESS

PARTNERS

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.

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.

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 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

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

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

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

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.

DOWNLOAD SPEAKER PROFILE

DOWNLOAD PRESENTATION

Risk & Crisis Management

Lessons Learned From C-19 & Preparation for Future Crises

DOWNLOAD SPEAKER PROFILE

DOWNLOAD PRESENTATION

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

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ESG AGENDA 2021

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

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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

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

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) Profiling: profiling the companies, assets and investors involved
2) Valuation: of targets on an ‘as is’ basis under existing management
3) Value Creation Plan: how the acquirer intends to add value to the assets post-acquisition or how the merger will generate value
4) Risks & Feasibility: the feasibility of the transaction and the risks of the transaction and assets involved
5) Structuring & Finance: structuring the transaction and financing it
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

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.

BUSINESS PARTNER

CENTRUM CAPITAL

Oil & Gas

Mining & Metals

Energy Transition & E-Mobility

Power & Utilities

Infrastructure

Real Estate & Hospitality

Real Estate & Hospitality

Europe & Americas

Middle East Africa & Central Asia

India & South Asia

Greater Mekong Region

Indonesia & Other ASEAN

Greater China

Korea & Japan

Australia & New Zealand

Other Sectors

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Sarah Anggraeni Suhartono

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Sarah Anggraeni Suhartono

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Fiona Wood

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Fiona Wood

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Andy North

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Andy North

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Rosalind Yunibandhu

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Rosalind Yunibandhu

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Pitipong Matitanaviroon

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Pitipong Matitanaviroon

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Toby Norfolk-Thompson

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Toby Norfolk-Thompson

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Robert Tyler

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Robert Tyler

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Willem de Jonge

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Willem de Jonge

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Stephan Kriesel

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Stephan Kriesel

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Nigel Kieser

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Nigel Kieser

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