October 2007

BUSINESS DEVELOPMENT ASIA

Business Development Asia’s

Corporate Finance Activities

1 Background
Introduction to BDA
‰ We advise on cross border M&A transactions, strategic partnerships, capital raising and restructurings

ƒ BDA was established in 1996, since when we have assisted numerous multinational
corporations and financial investors to increase strategic value by bringing to bear our knowledge
and expertise on transactions and alliances between companies in Asia and the West

ƒ BDA has teams of dedicated professionals located across Asia, the US and Europe with offices
in New York, London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul and Tokyo

ƒ We work across all industrial sectors and have strong regional experience in Asia

ƒ We advise our clients on acquisitions, divestments, JVs, capital raising and restructurings.
We provide corporate finance services in situations involving, debt advisory and business
valuation. We also undertake strategic assessment studies to help our clients understand
where the best opportunities for investment might lie

3
Key qualities of BDA
ƒ Relevant industry experience: Our focus on specific sectors and product groups gives us a
thorough knowledge of sector dynamics, and of corporate and private equity interest in the
Knowledgeable sectors. We have a considered view of what the future holds for these sectors / product areas
and more specifically for our clients at any given time

ƒ Strong Asian presence: built over 10 years, with teams in Hong Kong, Shanghai, Seoul, Tokyo,
Mumbai and Bahrain. Our London and New York offices complement BDA’s Asian network,
International making BDA well-placed to execute and advise on cross-border transactions
ƒ Deep coverage across Europe and North America: BDA is the Asian arm of the Close
Brothers Network with over 500 experienced corporate finance professionals across Europe and
North America

ƒ Mid-market experience: track record representing MNCs and Asian firms on M&A and
Experienced divestiture mandates. We specialize in M&A transactions with enterprise value between US$20m
and US$400m
ƒ Extensive cross-border experience: a constant flow of deals gives our professionals
unmatched experience and a complete understanding of what is essential in identifying,
evaluating and successfully closing cross border transactions

Impartial
ƒ The fact we only provide advice gives our clients a distinct advantage. We have chosen not to
have either a lending or underwriting capability, as this gives us an ethical strength and objectivity
based on true independence

4
Asian coverage and global reach
‰ We provide advice in a pan-Asian and international context, not narrowly focused on one market

New York London Bahrain Shanghai Seoul Tokyo

7 professionals 3 professionals 3 professionals 19 professionals 5 professionals 6 professionals

Euan Rellie Andrew Huntley Tamer Makary Jeffrey Wang Hans Kim Yuuichiro Nakajima
Managing Director Managing Director Assistant Director Director, Director Director,
Head of Shanghai Head of Tokyo Office
Charlie Maynard office
Managing Director Jeff Acton
Mark Webster Director
Director
Noriyuki Sonoda
Executive Senior Advisor

Mumbai Hong Kong

9 professionals 7 professionals

Rohit Singh Paul DiGiacomo

Director Director

5
BDA has broad regional experience, and expertise in several sectors

Asian sector experience

„ Aluminium
„ Automotive
„ Chemicals
„ Coatings
„ Consumer Goods
„ Electricals
„ Electronics
„ EMS
„ Financial Services
„ Food & Beverage
„ Healthcare
„ Industrial Automation
„ Industrial Manufacturing
„ IT Services & Infrastructure
„ Logistics
„ Media
„ Metals
„ Mining
„ Pharmaceuticals
„ Plastics
„ Retail
„ Semiconductors
„ Software
„ Steel processing
„ Travel & Leisure

6
Selected BDA transactions

Divested
Divested Chinese
Chinese boiler
boiler Acquisition Global strategic alliance Formed
Formed 85-15
85-15 paints
paints JV
JV Acquired
Acquired Green
Green Harbour
Harbour
Acquisition of
of specialty
specialty
business
business unit
unit to
to A-TEC
A-TEC surfactants
surfactants business
business ofof with
with Shanghai
Shanghai IVY
IVY business
business in
in Hong
Hong Kong
Kong
Industries
Industries Dexter
Dexter Chemical LLC
Chemical LLC and
and China
China

2007 2007 2007 2007 2007

Acquired
Acquired CABB
CABB chemicals
chemicals Acquired
Acquired by
by Golden
Golden Gate
Gate JV Strategic
Strategic supply
supply Acquired
Acquired by
by Pulaski
Pulaski
JV with
with Jiangsu
Jiangsu Feixiang
Feixiang
business
business in
in Europe,
Europe, Logistics
Logistics LLC
LLC in
in US
US and agreement
agreement with
with Hyundai
Hyundai Furniture
Furniture in
in US
US
and NORINCO
NORINCO in in China
China
Americas
Americas and
and Asia
Asia Motor
Motor in
in Korea
Korea

2007 2006 2006 2006 2006

Raised
Raised equity
equity funding
funding for
for Acquired
Acquired by
by the
the L.S.
L.S. Transaction
Transaction support
support in
in Divested
Divested European
European and and JV
JV with
with Mingxin
Mingxin in
in China
China
the
the development
development of of Saudi
Saudi Starrett
Starrett Company
Company in in US
US acquisition
acquisition of
of Masterplug
Masterplug Asian
Asian assets
assets to
to Carl
Carl Icahn
Icahn
Arabian
Arabian deposit
deposit in China
in China

2006 2006 2005 2005 2005

7
Selected BDA transactions

LCD
LCD plastics
plastics film
film JV
JV with
with Valuation
Valuation of
of European
European Strategic
Strategic technical
technical Sale Sale
Sale of
of IC
IC Equipment
Equipment Pte
Pte
Sale of
of Jade
Jade Travel
Travel to
to
Inabata
Inabata in
in Japan
Japan and
and Asian
Asian assets
assets under
under agreement
agreement with
with Pyeong
Pyeong Simon Ltd
Ltd inin Singapore
Singapore
Simon Lee
Lee in
in Hong
Hong Kong
Kong
UK
UK Administration
Administration Hwa
Hwa Auto
Auto inin Japan
Japan

2005 2004 2004 2003 2002

Sale
Sale of
of Microcircuit
Microcircuit Strategic
Strategic advisor
advisor on
on M&A
M&A Advice
Advice on
on sale
sale of
of My
My Duc
Duc Sale
Sale of
of 49%
49% in
in AFE
AFE Acquired
Acquired Ascent
Ascent Logistics
Logistics
Technology
Technology Pte
Pte Ltd
Ltd in
in in
in Asia
Asia and
and Middle
Middle East
East Ceramics
Ceramics in
in Vietnam
Vietnam Solutions
Solutions to
to Systex
Systex in
in in
in Singapore
Singapore
Singapore
Singapore and
and China
China Taiwan
Taiwan
2002 2002 2001 2000 2000

Acquired
Acquired ACS
ACS in
in India
India Acquired
Acquired CSC-Kemico
CSC-Kemico in
in Acquired
Acquired ChemAsia
ChemAsia in
in Acquired
Acquired United
United
Malaysia
Malaysia Malaysia
Malaysia ChemAsia
ChemAsia in
in Malaysia
Malaysia

1999 1998 1998 1998

8
BDA’s strengths
‰ We offer a mix of services which has proved to be uniquely tailored to the needs of multinationals on cross border
M&A

Team On the Target/ Understand Understand Corporate Target Process Handle

members ground owner regulatory client’s finance relationship continuity small or
present in industry/ profiling issues financial and and M&A and mid-size
client home strategy other criteria skills ‘coaching’ transaction
country assessmen skills
t
BDA

Market
research firm

Country-
focused
consultancy

Investment
bank

Large
accounting
firm

9
Our Close Brothers partnership gives us strong coverage across the US and Europe

‰ BDA is the Asian affiliate of

the Close Brothers Network
‰ Close Brothers is the
premier European mid-
market investment bank,
publicly quoted on the
London Stock Exchange
with market cap US$2.7bn

‰ Close Brothers offers its

clients access to local and
international relationships
through its European offices
and long-standing JVs with
independent advisory firms,
such as BDA, elsewhere in
the world

‰ 400 professionals across

Asia, North America and in
the European financial
centres of London, Paris,
Frankfurt, Milan, Barcelona
and Madrid. This
international presence
creates a unique global
www.cbcf.com
independent investment
banking capability

BDA and Close Brothers Network

London Amsterdam Helsinki New York Stockholm
Barcelona Athens Hong Kong Oslo Sydney
Frankfurt Berne Johannesburg Richmond Tokyo
Madrid Boston Los Angeles San Francisco Zurich
Milan Copenhagen Melbourne Seoul
Paris Geneva Mumbai Shanghai

10
2 BDA’s services
BDA’s corporate finance activities

M&A Restructuring Capital raising

Strategic assessment Company advisory Private placements

Target identification Creditor advisory Debt capital

Market entry strategy Rescue financing Public listings

Buy side advisory Distressed and complex Project finance and offset
M&A solutions
Sell side advisory

Commercial due diligence

Private equity support

12
M&A advisory
‰ Seamless advisory services from pre-transaction strategy to execution for corporates and financial investors
Pre-transaction work
Strategic Assessment
z We know that before making strategic decisions on investment and
M&A, our clients must first gain a clear understanding of the market
in which they will operate
z We undertake Strategic Assessment studies which map out the
industry, market, and regulatory landscape, which form the
backdrop against which investment, partnership and M&A
decisions will be made
z Our Strategic Assessment studies are often conducted in
conjunction with a Partner / Target search
Partner / Target Searches
z We conduct a thorough search of the market using our clients’
criteria to source likely candidates for acquisitions and JVs
z We are not simply market researchers, and we rely not merely on
desktop research but undertake intensive, commercially sensitive
discussions with senior management and shareholders of potential
partners or targets to ascertain which opportunities are both
attractive and available
z BDA is transaction-oriented and delivers recommendations on the
best options, the likely parameters of a transaction and the best
path forward
13
M&A advisory
z We help clients in bringing transactions, both acquisitions and
divestments, through to successful completion
z Dynamic and fast changing environments obscure traditional
approaches to valuation and complicate deal structuring
z BDA designs and implements transactions which satisfy our clients’
requirements and are acceptable to the counterparty
z BDA’s professionals have developed extensive experience in
handling the unique issues that arise from cross-border, cross-
cultural M&A, such as:
Ë Cultural sensitivities to the role of M&A in strategic
development
Ë Managing an M&A process in more than one language and
across distant time zones
Ë Divergent approaches to valuation
Ë Managing due diligence in non-transparent environments
Ë Educating clients entering an unfamiliar jurisdiction
Ë “Coaching” counterparties who have limited M&A
experience
Ë Ensuring that dedicated, senior “on the ground” resources
are available at all times to our client
Debt restructuring and Capital raising
‰ Advice on distressed situations and corporate capital structure
Debt restructuring
z We advise companies and creditor groups on cross-border
corporate restructurings involving Asia
z Our work is divided between advising companies and key creditor
groups such as bondholders or bank syndicates
z Our approach to advising in restructuring situations ranges from
strategic and financial reviews, to identifying restructuring options
with legal and tax advisers and providing recommendations to the
board.
Rescue financing
z We also source new investors and / or debt providers to support
restructuring plans and map and execute negotiating strategies for
discussions with other stakeholder groups
Complex M&A
z These often encompass complex cross-border situations with
multiple parties involved and BDA can draw upon the industry
leading corporate restructuring and debt advisory expertise of
Close Brothers Corporate Finance
14
Fund raising
z Project finance
Ë Assisting sponsors to maximize returns and minimize risk
through project evaluation, risk assessment, optimization of
financial structures, financial and economic modeling,
identifying strategic joint venture partners, negotiating key
commercial agreements and raising equity, debt and other
forms of project financing
z Offset
Ë Advising governments and corporates on the successful
realization of offset programs and underlying projects
z Debt advisory
Ë Informed, impartial advice on sources of funds
Ë Structuring advice – based on client needs and priorities
Ë Transaction support – managing entire process
z Equity fund raising
Ë We advise small and medium sized Asian corporate on
sources of pre-IPO expansion capital from financial investors
Ë BDA works with selected underwriters/brokers covering the
key Asian, European and North American stock markets, to
help companies to identify the optimal market for a listing and
to successfully complete IPO and follow-on fund raising
3 Past and current clients
Selected BDA clients
Company Sector Client revenues Project
Private Equity US$142bn ¾ Advisor on acquisition in Europe

Automotive US$119bn ¾ Advisor in Asia

Electronics

Financial US$77bn ¾ Advisor on planned divestment

Services

Chemicals US$58bn ¾ Multiple acquisition target search

¾ Advisor on multiple acquisitions

Pharmaceutical US$40bn ¾ Advisor on acquisition in China

Auto / Industrial US$32bn ¾ Acquisition target search

Chemicals US$29bn ¾ Market assessment

¾ Acquisition target search

Automotive US$24bn ¾ Acquisition target search

¾ Advisor on acquisitions in Korea and China

Automotive US$22bn ¾ Tata Auto Comp Systems - advisor on potential

acquisition in Europe

Food US$18bn ¾ Acquisition target search

¾ Advisor on acquisition

Automotive US$18bn ¾ Advisor on acquisition

Consumer US$17bn ¾ Advisor on acquisition in Japan

Products

Food US$15bn ¾ Advisor on acquisition

Chemicals US$13bn ¾ Southeast Asia investment review

16
Selected BDA clients
Company Sector Client revenues Project
Trading US$12bn ¾ Advisor on divestment

Chemicals US$12bn ¾ Acquisition advisor on search and assessment

for targets in China and Taiwan

Automotive US$11bn ¾ Acquisition target search

Chemicals US$11bn ¾ Advised on JV partnership and project

bankability study in Saudi Arabia

Industrial / US$9bn ¾ Acquisition target search in North Asia

Technology ¾ Advisor on acquisition

Chemicals US$9bn ¾ Advisor on JV

Technology US$9bn ¾ Advisor on multiple divestments

Chemicals US$9bn ¾ Advisor on acquisition in China

Chemicals US$8bn ¾ Acquisition target search in North Asia

Technology US$7bn ¾ Strategic advisor in Asia

¾ Advisor to the Administrators for valuation and

Automotive US$6bn realisation of Federal Mogul companies in
Europe and Asia

Tech/logistics US$6bn ¾ Market entry opportunity and competitive study

¾ Advisor on acquisition

Logistics US$6bn ¾ Acquisition target search in the US

Auto / Industrial US$5bn ¾ Acquisition/JV target search and advisor on

acquisition

17
Selected BDA clients
Company Sector Client revenues Project
Technology US$5bn ¾ Advisor on JV, and formulation of China strategy

Chemical US$5bn ¾ Advisor on acquisition in Hong Kong/ China

Automotive US$5bn ¾ Market assessment in China and rest of Asia

¾ Acquisition advisory in China

Chemicals US$4bn ¾ Advisor in Asia

Automotive US$4bn ¾ Partner evaluation

Chemical US$4bn ¾ Multiple target searches in Asia

¾ Acquisitions advisory in China, India and SE Asia

Plastics US$4bn ¾ Acquisition target search ex-Japan

Chemical US$3bn ¾ Advisor on acquisition in China

Technology US$3bn ¾ Advisor on M&A in Asia

Chemicals US$3bn ¾ Acquisition/JV target search

¾ Advisor on acquisition

Chemicals US$3bn ¾ Acquisition target search and advisor on JV

Industrial US$2bn ¾ Advisor on global strategic alliance

Chemicals US$2bn ¾ Acquisition target search, and advisor on acquisition

¾ China strategy formulation

Chemicals US$2bn ¾ Acquisition/JV target search

¾ Advisor on acquisition

18
Selected BDA clients
Company Sector Client revenues Project
Chemicals US$1bn ¾ Advisor on acquisition in Japan

Chemicals US$1bn ¾ Advisory on European acquisition opportunity

Pharmaceutical/ US$1bn ¾ Advisor on acquisition in China

Technology

Technology / US$1bn ¾ Global M&A advisory

Electronics

Plastics / Aluminum US$1bn ¾ Acquisition/JV target search

¾ Strategic alliance and JV in Japan

Retail US$1bn ¾ Advisory on restructuring in SE Asia

Automotive US$1bn ¾ Acquisition target search

Automotive US$1bn ¾ Advisor on strategic alliance in Japan

Wassall Industrial US$1bn ¾ Advisor on acquisitions

¾ Strategic direction and M&A in Asia and the Mid

Aluminum US$750m East

Automotive / leather US$623m ¾ Target search and acquisition advisory in Asia

Industrial US$485m ¾ Strategic advisor in Asia

Plastics processing US$447m ¾ Strategic assessment and target search in China

Industrial / Chemicals US$416m ¾ Asia strategy and M&A analysis

Aluminum US$366m ¾ Strategic direction and M&A in Asia and the ME

19
Selected BDA clients
Company Sector Client revenues Project
Chemicals US$168m ¾ Advisor on acquisition opportunity in China

Mining US$140m ¾ Advisor on capital raising in the Middle East

Flow Control US$80m ¾ Advisor on planned divestment

Hydro Inc

Technology N.A. ¾ Acquisition/JV target search

Government /
Industrial / N.A. ¾ Advisor on M&A in Europe/ Middle East/ Japan
HM British Government Chemicals

Private equity N.A. ¾ Investment analysis and corporate finance

(US$6bn fund) advisory in Korea

Investments N.A.
management / PE (US$5bn fund) ¾ M&A and commercial due diligence in China

Chemicals US$59m ¾ Advisor on proposed acquisition of a division of a

UK plastics and specialty chemical producer

Chemicals US$52m ¾ Advisor on China strategy and advisor on

acquisition

Metals/ N.A. ¾ Equity finance for Al Gurrayah Tantalum-Niobium

Mining deposit in Saudi Arabia

20
4 BDA management and staff
The BDA team

Euan
Euan Rellie
Rellie Charles
Charles Maynard
Maynard Andrew
Andrew Huntley
Huntley
Managing
Managing Director
Director Managing
Managing Director
Director Managing
Managing Director
Director

‰
‰ Euan
Euan Rellie
Rellie isis joint
joint founder,
founder, ‰
‰ Mr.
Mr. Maynard
Maynard isis aa joint
joint founder,
founder, ‰
‰ Andrew
Andrew Huntley
Huntley isis aa partner
partner and
and
partner,
partner, and
and Managing
Managing Director
Director partner,
partner, and
and Managing
Managing Director.
Director. Managing
Managing Director
Director of of BDA
BDA and
and isis
and
and isis based
based inin New
New York.
York. Since
Since Since
Since founding
founding BDA
BDA in in 1996,
1996, Mr.
Mr. based
based in in London,
London, having having
founding
founding BDA
BDA in in 1996,
1996, Mr.
Mr. Rellie
Rellie Maynard
Maynard hashas been
been based
based in in previously
previously managed
managed BDA's BDA's Asian
Asian
has Singapore,
Singapore, Tokyo,
Tokyo, and
and nownow New
New
has been
been based
based in in Singapore,
Singapore, offices
offices from
from Singapore
Singapore and and co-
co-
New York.
York.
New YorkYork and
and London
London and
and has
has managed
managed BDA’s
BDA’s New
New YorkYork office.
office.
worked
worked extensively
extensively across
across China,
China, ‰
‰ Mr.
Mr. Maynard
Maynard has
has been
been ‰
‰ Mr.
Mr. Huntley
Huntley has
has led
led projects
projects and
and
Taiwan,
Taiwan, Korea,
Korea, Japan,
Japan, India
India and
and responsible
responsible for
for BDA's
BDA's automotive
automotive advised
advised clients
clients on
on transactions
transactions in
in
the
the Middle
Middle East.
East. components
components team, team, aa key key aa wide
wide range
range ofof sectors
sectors and
and in
in
From specialization
specialization forfor BDA
BDA since
since
‰
‰ From 1990
1990 toto 1996
1996 he
he worked
worked for
for most
most East
East Asian
Asian countries.
countries.
Schroders, 1996,
1996, and
and has
has also
also worked
worked inin aa
Schroders, the the leading
leading UK UK Before
investment wide
wide range
range of
of other
other industrial
industrial and
and ‰
‰ Before BDA,
BDA, Mr.
Mr. Huntley
Huntley worked
worked
investment bank bank now
now part
part ofof with
Citigroup, service
service sectors.
sectors. with the
the Jardine
Jardine Matheson
Matheson Group
Group
Citigroup, and
and was
was based
based inin New
New in
York, in HK,
HK, China,
China, Taiwan
Taiwan and and
York, London
London andand Singapore.
Singapore. For
For ‰
‰ While
While working
working for for BDA,
BDA, Mr.
Mr. Vietnam.
most Vietnam. He He was
was charged
charged with
with
most of of this
this period,
period, Mr.
Mr. Rellie
Rellie Maynard
Maynard hashas advised
advised onon aa formulating group strategy,
worked formulating group strategy,
worked on on behalf
behalf ofof Western
Western number
number of
of successful
successful identifying and executing
multinationals, identifying and executing
multinationals, assisting
assisting them
them inin transactions
transactions throughout
throughout thethe investment
their investment opportunities
opportunities and and
theirinternational
international development.
development. region.
region. acquisitions,
acquisitions, andand assisting
assisting thethe
‰
‰ In
In 1995
1995 andand 1996,
1996, he
he was
was Head
Head ‰
‰ Prior
Prior to
to co-founding
co-founding BDA,BDA, he he development
development of of JMJM GroupGroup
of
of South
South East
East Asia
Asia Execution
Execution for
for worked
worked with
with the the Jardine
Jardine businesses.
businesses. He He acted
acted as as the
the
Schroders’
Schroders’ Asia-Pacific
Asia-Pacific Regional
Regional Matheson
Matheson Group,
Group, based
based in in Hong
Hong Group
Group Representative
Representative in in Vietnam
Vietnam
Advisory
Advisory Group.
Group. Mr. Mr. Rellie’s
Rellie’s Kong,
Kong, China
China and
and Singapore
Singapore both
both and
and had
had executive
executive responsibility
responsibility
clients
clients in
in Asia
Asia have
have included
included ICI,
ICI, in
in corporate
corporate development
development and and for
for various
various Group
Group businesses
businesses
Intel,
Intel, Philip
Philip Morris/Kraft
Morris/Kraft Foods,
Foods, operations.
operations. there
there and
and in
in Taiwan.
Taiwan.
Sara
Sara Lee, Lee, Parker
Parker Hannifin,
Hannifin, Mr.
‰
‰ Mr. Maynard
Maynard was was educated
educated at at ‰
‰ Mr.
Mr. Huntley
Huntley waswas educated
educated at at
Reuters,
Reuters, Rohm
Rohm && Haas,
Haas, Sanofi-
Sanofi- Oxford
Oxford University
University (MA
(MA Hons,Hons, Oxford
Oxford University
University (MA(MA Hons, Hons,
Aventis
Aventis and
and the
the British
British Geography)
Geography) and
and holds
holds aa Certified
Certified Chinese).
Chinese). Mr.
Mr. Huntley
Huntley isis fluent
fluent in
in
Government.
Government. Diploma
Diploma in in Accountancy
Accountancy and and spoken
spoken and
and written
written Mandarin
Mandarin and and
Mr. Finance
Finance from
from the
the ACCA.
ACCA.
‰
‰ Mr. Rellie
Rellie was
was educated
educated at
at Eton
Eton conversant
conversant in
in Vietnamese.
Vietnamese.
College
College and
and Cambridge
Cambridge
University
University(BA(BA Hons,
Hons, History)
History) and
and
isis aa Corporate
Corporate Finance
Finance Specialist
Specialist
Registered
Registered Representative.
Representative.

22
The BDA team

Jeff
Jeff Acton
Acton Paul
Paul DiGiacomo
DiGiacomo Hans
Hans Kim
Kim Yuuichiro
Yuuichiro Nakajima
Nakajima Rohit
Rohit Singh
Singh
Director
Director Director
Director Director
Director Director,
Director, Head
Head of
of Tokyo
Tokyo Office
Office Director
Director

‰
‰ Jeff
Jeff Acton
Acton isis aa Director
Director ‰ Paul
‰ Paul DiGiacomo
DiGiacomo isis aa Director
Director ‰
‰ Hans
Hans Kim Kim isis aa Director
Director ‰
‰ Yuuichiro
Yuuichiro Nakajima
Nakajima isis aa ‰
‰ Rohit
Rohit Singh
Singh isis aa Director
Director
based
based in
in Tokyo.
Tokyo. based
based in in Hong
Hong Kong.Kong. Mr. Mr. based
based in in Seoul.
Seoul. PriorPrior toto Director
Director and and HeadHead of of the
the based
based inin Mumbai.
Mumbai.
DiGiacomo
DiGiacomo has has ten ten years
years joining
joining BDA,
BDA, Mr.Mr. Kim
Kim was was Tokyo
Tokyo office.
office.
He ‰
‰ Prior
Prior to
to joining
joining BDA,BDA, Mr. Mr.
‰
‰ He previously
previously worked
worked for
for experience
experience in in M&A M&A and and Director
Director of of Deloitte
Deloitte && Prior
corporate
‰
‰ Prior to to joining
joining BDA,
BDA, Mr. Mr. Singh
Singh was was aa ManagingManaging
Maple
Maple Leaf
Leaf Foods
Foods corporate finance
finance in in Asia.
Asia. Touche
Touche Corporate
Corporate Finance,
Finance, Nakajima
Korea Nakajima was was Founder
Founder and and Director
Director at at Private
Private Capital
Capital
International
International in
in Toronto
Toronto on
on Korea from
from 2001
2001 to
to 2003.
2003.
‰ He
‰ He joined
joined BDABDA in in 1997
1997 and and Managing
Managing Partner Partner of of aa Management
Management (an (an investment
investment
Japan-related
Japan-related business.
business. was
was previously
previously basedbased in in our
our ‰
‰ He
He has
has worked
worked with
with clients
clients Tokyo-based
Tokyo-based merchant
merchant advisory
advisory subsidiary
subsidiary of of Legg
Legg
New
New YorkYork and and Singapore
Singapore such
such as
as Hynix
Hynix bank,
bank, Crimson
Crimson Phoenix.
Phoenix. Mason
Mason with
with US$30bn
US$30bn assets assets
‰
‰ Prior
Prior to
to that,
that, he
he worked
worked atat offices
offices before
before relocating
relocating to to Semiconductor,
Semiconductor, Kia Kia Steel,
Steel, under
under management)
management) since since
Sanyo
Sanyo Electric,
Electric, the
the ‰
‰ From
From 1999 1999 to to 2003
2003 Mr. Mr.
Hong
Hong KongKong to to open
open and and municipal
municipal governments
governments and and 2002.
2002. At
At Private
Private Capital,
Capital, he he
Japanese
Japanese telecoms
telecoms Nakajima
Nakajima was was Managing
Managing
head
head BDA's
BDA's officeoffice there,
there, the
the Ministry
Ministry of of Commerce,
Commerce, was
was responsible
responsible for for asset
asset
equipment
equipment companycompany in in Director
Director in in the
the investment
investment
where
where he he isis responsible
responsible for for Industry
Industry&& Energy.
Energy. allocation
allocation and and portfolio
portfolio
Osaka,
Osaka, Japan,
Japan, inin product
product banking
banking business
business of
of
transaction
transaction execution
execution and and decisions.
decisions.
strategy
strategy and
and marketing.
marketing. ‰
‰ Prior
Prior to
to that,
that, Mr.
Mr. Kim
Kim waswas PricewaterhouseCoopers
PricewaterhouseCoopers in in
client
client liaison
liaison in in Greater
Greater head
head of of capital
capital markets
markets at at London
London and andTokyo.
Tokyo. ‰
‰ Between
Between 19991999 andand 2002,
2002, hehe
China.
China. Mr. Mr. DiGiacomo
DiGiacomo has has
‰
‰ From
From 1997-2002,
1997-2002, hehe worked
worked BNP
BNP Paribas,
Paribas, Korea
Korea fromfrom was
was aa management
management
identified
identified and and executed
executed ‰
‰ From
From 1997 1997 to to 1999
1999 Mr. Mr.
at
at Pratt
Pratt && Whitney
Whitney in in 1994
1994 toto 2000.
2000. Mr. Mr. Kim
Kim has
has consultant
consultant withwith McKinsey
McKinsey in in
transactions
transactions for for several
several of of Nakajima
Nakajima was was Director
Director and
and
Canada
Canada in in engineering
engineering and
and also
also worked
worked at at Westpac
Westpac New
New York, York, where where he he
BDA’s
BDA’s multinational
multinational clients
clients inin Head
Head of of Execution
Execution at at
design.
design. Banking
Banking Corporation
Corporation and and advised
advised clients
clients on
on
the
the Greater
Greater China
China and and Asia
Asia Crosby
Crosby Corporate
Corporate Advisory
Advisory
First
First National
National Bank Bank of of acquisitions,
acquisitions, divestitures,
divestitures,
Pacific
Pacific regions,
regions, withwith aa focus
focus in
in London.
London.
‰
‰ He
He has
has an an MBA
MBA fromfrom Boston.
Boston. restructuring,
restructuring, strategic
strategic
on
on the
the chemicals,
chemicals,
INSEAD,
INSEAD, Fontainebleau,
Fontainebleau, ‰
‰ Mr.
Mr. Nakajima
Nakajima joined
joined S.G.
S.G. planning
planning and and corporate
corporate
healthcare,
healthcare, technology
technology and and ‰
‰ Mr.
Mr. Kim
Kim was was educated
educated at at
France,
France, and
and anan MSc/BSc
MSc/BSc Warburg
Warburg (now
(now UBS
UBS finance
finance advisory
advisory
manufacturing
manufacturing sectors.
sectors. Sung
Sung Kyun
Kyun KwanKwan University
University
from
from Queen's
Queen's University,
University, Investment
Investment Bank)Bank) in in 1987
1987 inin engagements.
engagements. He
He alsoalso
in
in Seoul,
Seoul, KoreaKorea (BA (BA in in
Kingston,
Kingston, Canada
Canada (with
(with aa ‰ His
‰ His clients
clients in in Asia
Asia include
include English Language &&
London
London and and served
served as as Head
Head previously
previously worked
worked at
at
Celestica, English Language
year
year at
at Kyoto
Kyoto University). Celestica, Hercules,
Hercules, Lubrizol,
Lubrizol, Literature)
of
of its
its Tokyo
Tokyo M&AM&A teamteam from
from Morgan
Morgan Stanley
Stanleyin in Boston.
Boston.
University).
Jardines, Literature) and and London
London
He speaks English, Jardines, ParkerParker Hannifin,
Hannifin, Business
1994
1994 to to 1996.
1996.
He speaks English, Reuters, Business School
School (MBA(MBA in in ‰
‰ He
He was
was educated
educated at at Boston
Boston
Japanese
Japanese and
and French Reuters, Rohm Rohm && Haas Haas and and Finance). College,
French Ryder. Finance). ‰
‰ Mr.
Mr. Nakajima
Nakajima was was educated
educated College, USA
USA (MS (MS Finance),
Finance),
Ryder. Cardiff
at
at Keio
Keio University
University Cardiff Business
Business School,
School, UK UK
‰ Mr.
‰ Mr. DiGiacomo
DiGiacomo was
was (Economics)
(Economics) and and London
London (MBA)
(MBA) andand Harcourt
Harcourt ButlerButler
educated
educated at at Trinity
Trinity College
College Business
Business SchoolSchool (Business
(Business Technological
Technological Institute,
Institute,
(BA
(BA Hons,
Hons, Political
Political Science).
Science). Administration).
Administration). He
He isis India
India (Bachelors
(Bachelors degree degree in in
bilingual
bilingual in in Japanese
Japanese and and Civil
Civil Engineering).
Engineering). Mr.
Mr.
English.
English. Singh
Singh isis fluent
fluent inin Hindi
Hindi andand
English.
English.

23
The BDA team

Jeffrey
Jeffrey Wang
Wang Mark
Mark Webster
Webster Noriyuki
Noriyuki Sonoda
Sonoda Jun
Jun Yup
Yup Kim
Kim Tamer
Tamer Makary
Makary
Director,
Director, Head
Head of
of Shanghai
Shanghai Office
Office Director
Director Executive
Executive Senior
Senior Adviser
Adviser Assistant
Assistant Director
Director Assistant
Assistant Director
Director

‰
‰ Jeffrey
Jeffrey Wang
Wang isis aa Director
Director ‰
‰ Mark
Mark Webster
Webster isis aa Director
Director ‰
‰ Noriyuki
Noriyuki Sonoda
Sonoda isis an an ‰
‰ Jun
Jun Yup
Yup Kim
Kim isis an
an Assistant
Assistant ‰
‰ Tamer
Tamer Makary
Makary isis an an
based
based in
in Shanghai.
Shanghai. based
based inin Shanghai.
Shanghai. Executive
Executive SeniorSenior Advisor
Advisor Director
Director based
based in in Seoul.
Seoul. Assistant
Assistant Director
Director based
based in
in
and
and isis based
based inin Tokyo.
Tokyo. Bahrain.
Bahrain.
‰
‰ From
From 1995 1995 to to 2001,
2001, ‰
‰ He
He previously
previously workedworked for for ‰
‰ Mr.
Mr. Kim
Kim previously
previously worked
worked
Mr.
Mr. Wang
Wang workedworked in in thethe Standard
Standard Chartered
Chartered Bank Bank -- ‰ Prior
Prior to to joining
joining BDABDA he he Mr.
‰ for
for Deloitte
Deloitte as
as aa financial
financial
‰
‰ Mr. Makary
Makary was
was previously
previously
Investment
Investment Banking
Banking Division
Division Shanghai
Shanghai Branch
Branch as as aa Vice
Vice worked
worked for for 37
37 years
years with
with Vice
advisor
advisor in
in Seoul,
Seoul, advising
advising Vice President
President at at EFG-
EFG-
of
of Salomon
Salomon Smith Smith Barney,
Barney, President
President in in the the Multi-
Multi- Kuraray,
Kuraray, aa US$2.5bn
US$2.5bn Hermes
domestic
domestic conglomerates
conglomerates Hermes Group,
Group, aa Middle
Middle
and
and its
its predecessor,
predecessor, National
National Corporates
Corporates division
division Japanese
Japanese textile
textile and
and Eastern
Schroders and
and foreign
foreign MNCs
MNCs on on Eastern investment
investment bankbank
Schroders PLC, PLC, basedbased in in assisting
assisting clients
clients such
such asas BP,
BP, chemical
chemical company.
company. based
Shanghai domestic
domestic andand cross-border
cross-border based inin Cairo.
Cairo. Mr.
Mr. Makary
Makary
Shanghai and and Hong
Hong Kong.
Kong. Syngenta
Syngenta and and UPS UPS withwith was
There, he advised strategic, funding and
‰
‰ Mr.
Mr. Sonoda
Sonoda was was primarily
primarily transactions.
transactions. was aa member
member of of the
the
There, he advised strategic, funding and responsible
multinational responsible for for developing
developing advisory
advisory team
team responsible
responsible
multinational companies
companies on on operational
operational matters.
matters. the overseas trading for
aa number
number of of acquisitions,
acquisitions,
the overseas trading ‰
‰ Prior
Prior to
to that,
that, he he led
led anan for the
the privatization
privatization of
of the
the
‰
‰ Prior
Prior to
to that
that he he worked
worked at at businesses
businesses of of both
both thethe investment
investment banking
banking division
division UAE
UAE telecoms
telecoms market.
market.
JVs
JVs and and other other directdirect JPMorgan’s
JPMorgan’s London London office
office textile
textile and
and chemicals
chemicals at
investments
investments in in China.
China. at Labinvest
Labinvest Associates,
Associates, aa Mr.
(earlier
(earlier Robert
Robert FlemingFleming divisions.
divisions. private equity and
‰
‰ Mr. Makary
Makary also
also served
served asas
private equity and Project
‰
‰ The
The clients
clients he he worked
worked for for Investment
Investment Bank) Bank) as as an an technology Project Manager
Manager for for the
the
‰
‰ From
From 1996-1998,
1996-1998, he
he technology consulting
consulting firm
firm in
in Dubai
included
included BTR BTR (Invensys),
(Invensys), Associate
Associate in in their
their Mergers
Mergers Seoul Dubai Investment
Investment Group
Group in in
managed
managed Kuraray’s
Kuraray’s PVOHPVOH Seoul andand also also led led aa the
Associated
Associated British
British Foods,
Foods, and
and Acquisitions
Acquisitions Division corporate restructuring the acquisition
acquisition of
of aa stake
stake inin
Bass, Division as as Deputy
Deputy General
General corporate restructuring the
the previously
previously state-owned
Bass, Danone,
Danone, WelbiltWelbilt andand department.
department. advisory state-owned
Manager
Manager and and in in 1998-2001
1998-2001 advisory teamteam at at Korea
Korea Tunisia
Perot
Perot HeHe alsoalso worked
worked on on From Tunisia Telecom.
Telecom.
IPOs and private
‰
‰ From 19951995 to to 1998
1998 he he he
he was
was Managing
Managing Director
Director Corporate
Corporate Restructuring
Restructuring
IPOs and private worked
placements for local worked forfor Arthur
Arthur Andersen
Andersen of
of Kuraray
Kuraray Specialties
Specialties Asia
Asia Corporation
Corporation where
where he
he ‰
‰ Before
Before moving
moving to to the
the Middle
Middle
placements for local in
companies. in London
London where where he he Pte.
Pte. Ltd.
Ltd. (Singapore),
(Singapore), the the worked
worked for
for various
various state
state and
and East,
East, Mr.
Mr. Makary
Makary began
began his
his
companies. qualified
qualified as as aa Chartered
Chartered regional
regional HQ HQ of of Kuraray’s
Kuraray’s private
private M&A/restructuring
M&A/restructuring career
career with
with at
at ABN
ABN Amro's
Amro's
‰
‰ From
From 1988
1988 to to 1995,
1995, he he Accountant
Accountant (ACA).
(ACA). chemicals
chemicals business.
business. projects Global
Global Telecommunications,
projects involving
involving financially
financially Telecommunications,
worked
worked as as correspondent
correspondent Technology
‰
‰ Mr.
Mr. Webster graduated
Webster graduated from
from ‰
‰ Mr.
Mr. Sonoda was
Sonoda was educated
educated ailing
ailing assets
assets and
and Technology and and MediaMedia
banking
banking officer
officer in in the the Group.
Oxford
Oxford University
University withwith an an at
at Keio
Keio University
University (BA(BA in in businesses.
businesses. Group. He
He then
then helped
helped to
to
International
International Division
Division of of the
the roll
Bank
MA
MA inin Modern
Modern History
History and
and Business
Business and and Commerce).
Commerce). roll out
out Wells
Wells Fargo's
Fargo's
Bank of of Communications,
Communications, Economics ‰
‰ Mr.
Mr. Kim
Kim was was also
also anan healthcare investment
one of the largest Economics and and speaks
speaks healthcare investment
one of the largest associate
associate investment
investment banker banking
commercial
Mandarin
Mandarin Chinese Chinese and and banker banking practice
practice in in New
New
commercial banksbanks in in China.
China. French. at
at Samsung
Samsung Securities
Securities in
in York.
French. York.
‰
‰ Mr.
Mr. Wang
Wang speaks speaks fluentfluent Seoul.
Seoul.
Mandarin ‰
‰ Mr.
Mr. Makary
Makary holds
holds aa BA
BA inin
Mandarin and and English
English and and
was ‰
‰ Mr.
Mr. Kim
Kim graduated
graduated from
from the
the Economics
Economics fromfrom Columbia
Columbia
was educated
educated at at Beijing
Beijing
University University
University of
of Baltimore.
Baltimore. University.
University. HeHe holds
holds dual
dual
University (BA,
(BA, Economics).
Economics).
citizenship
citizenship inin the
the United
United
States
States andand Egypt
Egypt and
and isis
fluent
fluent in
in spoken
spoken Arabic
Arabic and
and
English.
English.

24
The BDA team

Lydia
Lydia Xu
Xu Sanzhong
Sanzhong Zheng
Zheng Sora
Sora Ahn
Ahn Arun
Arun Bagchi
Bagchi Meng
Meng Jiang
Jiang
Assistant
Assistant Director
Director Assistant
Assistant Director
Director Senior
Senior Associate
Associate Senior
Senior Associate
Associate Senior
Senior Associate
Associate

‰
‰ Lydia
Lydia XuXu isis an
an Assistant
Assistant ‰
‰ Sanzhong
Sanzhong Zheng Zheng isis an an ‰
‰ Sora
Sora Ahn Ahn isis aa Senior Senior ‰
‰ Arun
Arun Bagchi
Bagchi isis aa Senior
Senior ‰
‰ Meng
Meng JiangJiang isis aa Senior Senior
Director
Director based
based inin Shangha
Shanghai.i. Assistant
Assistant Director
Director based
based in in Associate
Associate based based in in New
New Associate
Associate based
based in
inMumbai.
Mumbai. Associate
Associate based
based in
in
Shanghai.
Shanghai. York.
York. Shanghai.
Shanghai.
‰
‰ Prior
Prior to joining BBDA,
to joining DA, Ms.
Ms. Xu
Xu ‰
‰ Before
Before joining
joining BDA,
BDA, Mr.
Mr.
worked
worked for BOCC Gas
for BO Gas asas ‰
‰ Prior
Prior toto joining
joining BDA,BDA, he he ‰
‰ Since
Since joining
joining BDA,
BDA, Ms.Ms. Ahn
Ahn Bagchi
Bagchi was was the the India
India ‰
‰ Prior
Prior toto joining
joining BDA, BDA, Ms. Ms.
Business Dev worked
worked at at Core
Core Pacific
Pacific -- has
has worked
worked on on buy-side
buy-side andand Jiang
Jiang waswas an an Analyst
Analyst at at
Business Development
elopment General
General Manager
Manager of of Connell
Connell
Manager Yamaichi
Yamaichi Capital,
Capital, Shanghai
Shanghai sell-side
sell-side M&A M&A projects
projects in in Bros, UBS
UBS Investment
Investment Bank's Bank's
Manager Bros, aa San San Francisco
Francisco
Office
Office for
for seven
seven years
years as
as aa North
North America
America and and Korea,
Korea, in in based Global
Global Energy
Energy and and Power
Power
Prior based specialty
specialty chemical
chemical
‰
‰ Prior to
to that, Ms.. Xu
that, Ms Xu worked
worked Vice
Vice President
President and and Head
Head ofof the
the semiconductor
semiconductor capital capital distribution Group,
Group, where
where she she worked
worked
as distribution company,
company, where
where
as an Associate in
an Associate in the
the Core
Core the
the Corporate
Corporate Finance Finance equipment
equipment sector,
sector, he
on
on origination
origination and and execution
execution
Vision he managed
managed relationships
relationships
Vision Team
Team of of Asia
Asia Pulp
Pulp && Division,
Division, where,
where, he he advised
advised plastic/chemicals,
plastic/chemicals, logistics,
logistics, with
of
of M&A
M&A and and capital
capital raising
raising
clients with chemical
chemical companies.
companies.
Paper
Paper(China) foraa year
(China)for year and
and clients inin IT,
IT, mining
mining andand and
and flow
flow control.
control. Ms.
Ms. Ahn
Ahn isis transactions
transactions in in New
New York.
York.
aa half.
half. She was responsible
She was responsible metal
metal industries
industries to to raise
raise also
also aa member
member of of BDA’s
BDA’s ‰
‰ From
From 1997
1997 toto 1999,
1999, he
he held
held ‰
‰ Prior
Prior to to that,
that, she she alsoalso
for
for conducting
conducting bu business
siness funds
funds through
through IPO IPO andand automotive
automotive team. team. management
management positions
positions atat interned
interned in
in the
the US
US
analysis private
private placements.
placements.
analysis and and evaluating
evaluating ‰
‰ Prior
Prior to to joining
joining BDA,
BDA, Ms. Ms.
ICI
ICI Acrylics.
Acrylics. Commercial
Commercial Service Service in in
market opportunities
market opportunit ies for
for the
the Prior
‰
‰ Prior to
to that,
that, he
he worked
worked forfor Ahn
Ahn was was an an Analyst
Analyst at at the
the ‰
‰ Before
Before that
that he
he worked
worked for
for
Shanghai,
Shanghai, where
where she
she
company.
company. Nestle
Nestle (Qingdao),
(Qingdao), Xi’an Xi’an New
New York York and and London
London focused
focused on
on the
the
the
the Oil
Oil && Natural
Natural gas
gas
State
State Tax
Tax Bureau
Bureau and and the
the offices
offices of
of The
The pharmaceutical
pharmaceutical and and marine
marine
‰
‰ Ms.
Ms. Xu
Xu also has four
also has four years
years Zhejiang Geological Transportation
Corporation
Corporation (ONGC),
(ONGC), aa
of
of experience
experience in investment
in in vestment Zhejiang Geological Transportation Group, Group, aa leading
leading Indian
Indian oil
oil
industry
industry sectors,
sectors, and and in in the
the
Company.
Company. boutique
boutique investment
investment bank,bank, Financial
Financial Institutions
Institutions GroupGroup
banking
banking with
with Hainan
Hainan exploration
exploration company,
company, and
and at
at
where
where she she assisted
assisted with
with the
the at
at UBS.
UBS.
Securities
Securities CoCo where
where she she ‰
‰ Mr.
Mr. Zheng
Zheng isis aa member
member of of National
National Organic
Organic Chemical
Chemical
placement,
placement, arrangement
arrangement
focused
focused on company
on com pany andand CICPA.
CICPA. He He was
was educated
educated Industries
Industries Ltd
Ltd (NOCIL,
(NOCIL, then
then ‰
‰ Ms.
Ms. Jiang
Jiang received
received aa BA BA
and
and execution
execution of of aircraft
aircraft and
and
industry
industry research
resea rch and
and at
at the
the University
University of
of aa Shell
Shell JV).
JV). with
with aa Double
Double Major Major in in
rail
rail lease
lease financings.
financings.
assisted companiess listing
assistedcompanie listing in
in Amsterdam
Amsterdam (Masters
(Masters Political
Political Science
Science and
and
Degree ‰
‰ Mr.
Mr. Bagchi
Bagchi was
was educated
educated atat
China
China Degree in in International
International ‰
‰ Ms.
Ms. Ahn Ahn received
received aa BA BA in in Economics
Economics from from Wellesley
Wellesley
Finance) the
the Indian
Indian Institute
Institute ofof
Finance) and and Changan
Changan International
International Relations
Relations from
from College.
College. She She isis fluent
fluent in in
‰
‰ AA Chinese citizenn fluent
Chinese citize fluent in in University
University(MS(MS inin Geology).
Geology). Wellesley
Wellesley College
College and
and aa MAMA Management
Management –– Bangalore,
Bangalore, Mandarin
Mandarin and
and speaks
speaks
Mandarin
Mandarin and English,
and Eng lish, Ms.
Ms. He
in
in International
International Trade
Trade from
from && Institute
Institute of
of Technology
Technology –– Cantonese
Cantonese and and German.
German.
Xu graduated frfrom
Xu graduated om Beijing
‰
‰ He isis fluent
fluent in in Mandarin
Mandarin Ewha Benares
Benares Hindu
Hindu University
University (B
Beijing Chinese Ewha University
University in in Seoul,
Seoul, (B
Chinese andand English
English
University
University (BA,
(B A, Korea.
Korea. Ms. Ms. Ahn
Ahn speaks
speaks Tech
Tech –– Chemical
Chemical
Mathematics)
Mathematics) and
and the
the ChChina
ina Korean.
Korean. Engineering
Engineering ).).
Europe
Europe International
Inte rnational Mr.
‰
‰ Mr. Bagchi
Bagchi isis fluent
fluent inin
Business School (MBA).
Business School (MBA). English,
English, Hindi
Hindi and
and Bengali.
Bengali.

25
The BDA team
Douglas
Douglas Lui
Lui Umesh
Umesh Rege
Rege Shariq
Shariq Siddiqui
Siddiqui Shan
Shan Yue
Yue
Senior
Senior Associate
Associate Senior
Senior Associate
Associate Senior
Senior Associate
Associate Senior
Senior Associate
Associate

‰
‰ Douglas
Douglas Lui Lui isis aa Senior
Senior ‰
‰ Umesh
Umesh Rege Rege isis aa Senior Senior ‰
‰ Shariq
Shariq Siddiqui
Siddiqui isis aa Senior
Senior ‰
‰ Shan
Shan YueYue isis aa Senior
Senior
Associate
Associate based based in in Hong
Hong Associate
Associate basedbased in inMumbai.
Mumbai. Associate
Associate based
based in in London.
London. Associate
Associate based
based inin Hong
Hong
Kong.
Kong. Kong.
Kong.
‰
‰ Mr.
Mr. Rege
Rege was was previously
previously aa ‰
‰ Prior
Prior to
to joining
joining BDA,
BDA, Mr.Mr.
‰
‰ Before
Before joining
joining BDA,
BDA, Mr. Mr. Lui
Lui VP
VP inin the
the Mumbai
Mumbai officeoffice of
of Siddiqui
Siddiqui worked
worked at at India
India ‰
‰ Mr.
Mr. Yue
Yue was was previously
previously
was
was aa Business
Business Analyst
Analyst at at Index
Index Partners,
Partners, aa UK-based
UK-based Advisory Partners, aa based
based inin New
New York,
York, having
having
Advisory Partners,
Dah
Dah Chong
Chong HongHong Limited,
Limited, aa investment
investment banking banking firm, firm, corporate been
been involved
involved with
with the
corporate finance
finance advisory
advisory the
wholly
wholly owned
owned subsidiary
subsidiary of of where
where he he was was responsible
responsible firm origination
origination and
and execution
execution of
firm focused
focused on on India.
India. He
He of
CITIC
CITIC Pacific.
Pacific. He
He was was for
for generating
generating and
and has cross
cross border
border M&A
M&A projects
responsible has worked
worked on on aa number
number of of projects
responsible for for evaluating
evaluating executing
executing M&A M&A and and capital
capital M&A for
for BDA
BDA andand MNC
MNC clients
clients in
and executing China raising M&A and and entryentry strategy
strategy in
and executing China raising transactions.
transactions. assignments for the
theUSUS and
and Asia.
Asia.
automotive M&A assignments for
automotive M&A Prior
opportunities,
‰
‰ Prior to that,
to that, Mr.Mr. Rege
Rege set set multinational
multinational clients
clients in
in ‰ Prior
Prior to
to joining
joining BDA,
BDA, Mr.
opportunities, as as well
well as as up ‰ Mr.
working on the up and
and headed
headed the the Debt
Debt sectors
sectors including
including auto
auto Yue
Yue was was aa Business
Business
working on the Advisory
establishment of Advisory GroupGroup of of Stratcap
Stratcap components,
components, telecoms
telecoms and and Strategy
establishment of Securities Strategy Consultant
Consultant at at
manufacturing Securities in in Mumbai.
Mumbai. financial
financial services.
services.
manufacturing operations
operations in in China
China Strategy
Strategy Group
Group
China.
China. ‰ He
He also
also worked
worked at at Lazard
Lazard Mr. providing
providing market
market entry
‰ ‰
‰ Mr. Siddiqui
Siddiqui previously
previously alsoalso entry
India,
India, where
where he he advised
advised worked strategies
strategies for
for US
US companies
‰
‰ Prior
Prior toto that,
that, Mr.
Mr. Lui
Lui worked
worked worked for for RentWorks,
RentWorks, companies
MNCs
MNCs and and Indian
Indian clients
clients onon where entering
entering China
China and
and vice
at
at the the Assurance
Assurance and and M&A, divestures, where hehe was
was responsible
responsible vice
Business M&A, divestures, debt debt for
for sourcing
sourcing and
and executing versa.
versa.
Business Advisory
Advisory Services
Services restructurings executing
Department of restructurings and and fund fund structured lease
Department of raising. structured lease ‰ While working for
PricewaterhouseCoopers, raising. His His clients
clients have
have transactions for
‰ While working for
PricewaterhouseCoopers, included transactions for Pharmaneer, Mr. Yue
where included AES AES Corp, Corp, Blue
Blue Pharmaneer, Mr. Yue
where he he specialized
specialized in in the
the Dart, multinational
multinational clients
clients in
in India.
India. helped US medical
IT, Dart, Chemplast
Chemplast Sanmar, Sanmar, helped US medical
IT, telecommunications,
telecommunications, and and equipment
media
Gammon
Gammon India,
India, Gati,
Gati, ‰
‰ Prior
Prior to
to that,
that, he
he worked
worked as
as aa equipment manufacturers
manufacturers
media sectors.
sectors. Godrej,
Godrej, Mangalore
Mangalore RefineryRefinery financial
financial analyst
analyst atat GE
GE and
and distributors
distributors to
to source
source
‰
‰ Mr.
Mr. Lui isis aa CPA
Lui CPA (Hong
(Hong and
and Petrochemicals
Petrochemicals Capital products
products from
from Asia.
Capital inin Mumbai.
Mumbai. Asia.
Kong)
Kong) and and graduated
graduated from from (MRPL),
(MRPL), Reliance,
Reliance, and and VST.
VST.
the ‰ Mr.
Mr. Siddiqui
Siddiqui received
received an ‰
‰ He
He has
has also
also worked
worked asas an
an
the Chinese
Chinese University
University of of ‰ Mr. Rege received an MBA
‰ an
Hong Kong (B.B.A., ‰ Mr. Rege received an MBA MBA
MBA from
from XLRI
XLRI Associate
Associate for
for Stifel
Stifel Financial
Financial
Hong Kong (B.B.A., from Narsee Monjee
Accountancy). from Narsee Monjee Jamshedpur,
Jamshedpur, India India and Inc.
Inc. and
and as
as an
an analyst
analyst for
for
Accountancy). He He isis fluent
fluent Institute and
in Institute of of Management
Management US
US Bancorp.
inCantonese
Cantonese and and Mandarin.
Mandarin. Studies,
graduated
graduated with
with aa Bachelor
Bachelor Bancorp.
Studies, Mumbai
Mumbai and and holds
holds of
aa Bachelors of Commerce
Commerce (Accounting)
(Accounting) ‰ Mr.
Mr. Yue
Yue graduated
graduated from
Bachelors degree degree in in Civil
Civil degree
‰ from
Engineering
Engineering from from Victoria
Victoria degree from
from the
the University
University Washington
Washington University
University ––
of
of Mumbai.
Mumbai. He He isis fluent
fluent in
in Olin
Jubilee
Jubilee Technical
Technical Institute
Institute Olin Business
Business School
School with
with
(VJTI), English
English and
and Hindi.
Hindi.
(VJTI), India.
India. degrees
degrees in in Finance
Finance andand
Marketing.
Marketing.
‰
‰ He
He isis fluent
fluent in in Hindi
Hindi andand
English.
English.

26
The BDA team
Tsun
Tsun Chen
Chen Suva
Suva Deep
Deep Gupta
Gupta Bob
Bob Hong
Hong Ashish
Ashish Kumar
Kumar Leon
Leon Li
Li
Associate
Associate Associate
Associate Associate
Associate Associate
Associate Associate
Associate

‰
‰ Tsun
Tsun Chen
Chen isis an
an Associate
Associate ‰
‰ Suva
Suva Deep
Deep Gupta
Gupta isis an
an ‰
‰ Bob
Bob Hong
Hong isis an an Associate
Associate ‰
‰ Ashish
Ashish Kumar
Kumar isis an an ‰
‰ Leon
Leon Li Li isis an an Associate
Associate
based
based in
in Hong
Hong Kong.
Kong. Associate
Associate based
based in
inMumbai.
Mumbai. based
based inin Shanghai.
Shanghai. Associate
Associate based
based in
inMumbai.
Mumbai. based
based in in Shanghai.
Shanghai.
‰
‰ Prior
Prior toto joining
joining BDA,BDA, Mr.Mr. ‰
‰ Mr.
Mr. Gupta
Gupta has
has transaction
transaction ‰
‰ Before
Before joining
joining BDA, BDA, Mr. Mr. ‰
‰ Before
Before joining
joining BDA,BDA, Mr. Mr. ‰
‰ Before
Before joining
joining BDA,BDA, Mr. Mr. LiLi
Chen
Chen was
was an an Associate
Associate with with experience
experience in
in different
different Hong
Hong was
was aa manager
manager in in the
the Kumar
Kumar waswas an an Associate
Associate in in worked
worked as
as aa value
value
i2i Planning
Planning and and Coordination
Coordination engineering
engineering consultant
consultant at at
i2i Capital
Capital Corporation,
Corporation, aa sectors
sectors including
including specialty
specialty the
the management
management consulting
consulting
Hong Department
Department of of Mitsubishi
Mitsubishi SAP
SAP America.
America. From From 2004
2004
Hong Kong
Kong based
based corporate
corporate chemicals,
chemicals, automotive,
automotive, practice
practice of
of Deloitte,
Deloitte, Haskins
Haskins
finance Corporation
Corporation in in Shanghai.
Shanghai. to
to 2005,
2005, he he worked
worked as as
finance advisory
advisory firmfirm where
where telecommunication,
telecommunication, and
and Sells
Sells in in India.
India. His His business development
he
he waswas responsible
responsible for advanced manufacturing Prior responsibilities were business development
for advanced manufacturing ‰
‰ Prior to
to that,
that, he he waswas an an responsibilities were manager
research, manager for for Chinapay,
Chinapay, the the
research, duedue diligence
diligence andand and
and media.
media. analyst
analyst in in thethe JP JP Morgan
Morgan focused
focused on on developing
developing online subsidiary of
Research online subsidiary of
execution
execution on on capital
capital raising
raising Research Group,Group, covering
covering business
business and
and market
market ChinaUnionPay,
‰
‰ Prior
Prior to
to joining
joining BDA,
BDA, Mr.
Mr. the ChinaUnionPay, focusing focusing on on
transactions
transactions for for small
small andand Gupta the Consumer
Consumer Retail Retail && strategies
strategies forfor both
both Indian
Indian product and client
medium sized private Gupta worked
worked as as an
an Analyst
Analyst Healthcare
Healthcare sectors
sectors in
in and multinational product and client
medium sized private in and multinational development.
development. From From 20012001 to
enterprises. His in the
the Investment
Investment Banking
Banking Shanghai. to
enterprises. His clients
clients Division
Shanghai. organizations
organizations in in sectors
sectors 2004,
2004, he he worked
worked as as aa
have Division of
of Bank
Bank ofof America
America
have included
included online
online and and and ‰ Mr.
Mr. Hong
Hong holdsholds aa Master
Master of of
ranging
ranging from
from luxury
luxury consultant
consultant at at Bearingpoint,
Bearingpoint,
traditional and asas aa Research
Research Analyst
Analyst ‰
traditional mediamedia firms, firms, in International
International Financial
Financial
products,
products, jewelry,
jewelry, retail
retail and
and an
an international
international businessbusiness
logistics in Evalueserve,
Evalueserve, aa Business
Business
logistics operators
operators and and Research Analysis
Analysis degree
degree from from thethe IT
IT services.
services. consulting
consulting firm, firm, in
in Shanghai,
Shanghai,
specialty Research firm.
firm.
specialtymanufacturers.
manufacturers. University
University of of Newcastle
Newcastle Mr.
focusing
focusing on
on strategy
strategy
Mr.
‰
‰ Mr. Kumar
Kumar graduated
graduated with
with aa
Mr.
‰
‰ Mr. Gupta
Gupta graduated
graduated with
with aa upon
upon Tyne
Tyne in in the
the UK.
UK. development
development and and process
process
‰
‰ Mr. Chen
Chen isis also
also aa UK UK bachelor’s degree in
Bachelor’s
Bachelor’s Degree
Degree in
in improvement.
qualified solicitor and bachelor’s degree in Management improvement.
qualified solicitor and accounts
‰
‰ He
He also holds a Bachelors
also holds a Bachelors Management from from Mumbai
Mumbai
accounts andand commerce
commerce His
previously
previously practiced
practiced law
law in
in from
degree
degree in
in Business
Business University
University and
and anan MBA
MBA from
from ‰
‰ His industry
industry experience
experience
London with Squire, from Calcutta
Calcutta University
University and
and Japanese from the the includes
includes financial
financial services,
London with Squire, has Japanese from the the Indian
Indian School
School of of services,
Sanders has received
received an
an MBA
MBA from
from Shanghai Institute of home appliance
Sanders && Dempsey
Dempsey wherewhere ICFAI
Shanghai Institute of Business
Business (ISB)
(ISB) at
at home appliance
he ICFAI Business
Business School,
School, Foreign
Foreign Trade. manufacturing,
manufacturing, consumer consumer
he specialized
specialized inin M&A
M&A and
and India.
Trade. Hyderabad.
Hyderabad. Mr. Mr. Kumar
Kumar isis
corporate India. product
product distribution,
distribution, and and
corporate law.
law. ‰
‰ Mr.
Mr. Hong
Hong isis fluent fluent in in
fluent
fluent in
in English
English and
and Hindi.
Hindi.
He energy.
energy.
Mr.
‰
‰ He isis fluent
fluent in
in English,
English, Hindi
Hindi Mandarin,
Mandarin, English English and and
‰
‰ Mr. Chen
Chen graduated
graduated from
from and
University and Bengali.
Bengali. Japanese.
Japanese. ‰
‰ Mr.
Mr. Li Li hashas aa MBA MBA from from
University College
College London
London Goizueta
(BSc. Goizueta Business
Business School,
School,
(BSc. History
History && Philosophy
Philosophy Emory
of Emory University,
University, USA USA andand
of Science)
Science) and
and The
The College
College aa BA
of BA in in Finance
Finance fromfrom Fudan
Fudan
of Law,
Law, London.
London. University.
University.
‰
‰ He
He isis fluent
fluent in
in English
English and
and He
‰
‰ He isis aa Chinese
Chinese citizen
citizen and
and
Cantonese
Cantonese and
and isis speaks
speaks fluent
fluent Mandarin
Mandarin and and
conversant
conversant in in Mandarin.
Mandarin. English.
English.

27
The BDA team
Stacy
Stacy Shen
Shen Jason
Jason Song
Song Christophe
Christophe Walewski
Walewski Melissa
Melissa Wong
Wong Dahang
Dahang Zheng
Zheng
Associate
Associate Associate
Associate Associate
Associate Associate
Associate Associate
Associate

‰
‰ Stacy
Stacy Shen
Shen isis an
an Associate
Associate ‰
‰ Jason
Jason Song
Song isis an
an Associate
Associate ‰
‰ Christophe
Christophe Walewski
Walewski isis an
an ‰
‰ Melissa
Melissa Wong
Wong isis anan ‰
‰ Dahang
Dahang Zheng
Zheng isis an
an
based
based in
in Shanghai.
Shanghai. based
based in
in New
New York.
York. Associate
Associate based
based in
in London.
London. Associate
Associate based
based in
in New
New Associate
Associate based
based in
in
York.
York. Shanghai.
Shanghai.
‰
‰ Prior
Prior to
to joining
joining BDA,
BDA, Ms. Ms. ‰
‰ Before
Before joining
joining BDA, BDA, Mr. Mr. ‰
‰ Before
Before joining
joining BDA,
BDA, Mr.Mr.
Shen
Shen workedworked at at the the Song
Song worked
worked at at the
the Carbon
Carbon Walewski
Walewski worked
worked for
for Ernst
Ernst && ‰
‰ Before
Before joining
joining BDA,BDA, Ms. Ms. ‰
‰ Prior
Prior toto joining
joining BDA,
BDA, Mr. Mr.
Assurance
Assurance and and Advisory
Advisory Disclosure
Disclosure Project
Project in
in Young
Young in in Paris,
Paris, where
where he he Wong
Wong waswas aa Senior
Senior Analyst
Analyst Zheng
Zheng workedworked as as aa
Business
Business Services
Services London,
London, where
where he
he audited
audited major
major manufacturing
manufacturing at
at Business
Business Intelligence
Intelligence Consultant
Consultant with
with the
the
Department
Department of
of undertook
undertook researchresearch on on companies
companies such
such as
as Lafarge,
Lafarge, Advisors
Advisors (BIA).
(BIA). She
She applied
applied international
international business
business
PriceWaterhouseCoopers
PriceWaterhouseCoopers electrical
electrical utilities
utilities for
for leading
leading Plastic
Plastic Omnium
Omnium andand Airbus.
Airbus. BIA's
BIA's proprietary
proprietary consulting
consulting firm, firm, Roland
Roland
Shanghai,
Shanghai, where
where she
she US
US pension
pension funds.
funds. methodology
methodology on
on listed
listed Berger,
Berger, in
in Shanghai,
Shanghai,
‰
‰ Prior
Prior to
to that,
that, he
he worked
worked for
for
worked
worked for for Fortune
Fortune 500500 Chinese
Chinese companies
companies and and focusing
focusing on
on corporate
corporate
‰
‰ Prior
Prior toto that,
that, he
he worked
worked inin ABN
ABN Amro
Amro inin equity
equity sales
sales in
in
Chinese
Chinese and and multinational
multinational contributed
contributed to
to the
the strategy,
strategy, marketing,
marketing, and and
the
the office
office of
of Phil
Phil Willis,
Willis, MP
MP Paris.
Paris.
companies,
companies, including
including China
China development
development of of intelligence-
intelligence- sourcing.
sourcing. He
He assisted
assisted
in
in the
the House
House of of Commons
Commons of of
Life,
Life, Bank
Bank of of China,
China, ‰
‰ Mr.
Mr. Walewski
Walewski graduated
graduated based
based training
training modules
modules for for DaimlerChrysler
DaimlerChrysler implement
implement
the
the United
United Kingdom
Kingdom
Sinotrans,
Sinotrans, 3M 3M and
and Logitech
Logitech from
from the
the ESCP-EAP
ESCP-EAP Fortune
Fortune 100 100 companies,
companies, aa sourcing
sourcing program
program in in
Parliament.
Parliament.
focusing
focusing on on asset
asset review,
review, European
European School
School of
of hedge
hedge funds,
funds, and
and high
high net net China,
China, aa Swiss Swiss textile
textile
credit
credit review,
review, internal
internal ‰
‰ Mr.
Mr. Song
Song holds
holds aa BA BA in in Management
Management in in Paris
Paris with
with worth
worth individuals
individuals investing
investing in in machinery
machinery company company to to
control
control analysis
analysis and
and Economics
Economics from
from the
the an
an MSc
MSc in in Management,
Management, China
China and
and India.
India. formulate
formulate aa marketmarket entry
entry
financial
financial statement
statement analysis.
analysis. University
University ofof Wisconsin
Wisconsin at at and
and aa Bachelor
Bachelor ofof Law
Law from
from strategy,
strategy, aa major
major Chinese
Chinese
‰
‰ Prior
Prior to
to that,
that, Ms.
Ms. Wong
Wong
Madison,
Madison, aa Maîtrise
Maîtrise in in the
the University
University of
of Paris.
Paris. home
home electronics
electronics
‰
‰ Ms.
Ms. Shen
Shen graduated
graduated from
from worked
worked at
at State
State Street
Street Bank
Bank
Political
Political Science
Science from from the
the manufacturer
manufacturer to to develop
develop itsits
Fudan
Fudan University
University with
with aa ‰
‰ He
He has
has also
also studied
studied atat the
the as
as aa Portfolio
Portfolio Accountant
Accountant
University
University ofof Paris
Paris andand anan product
product portfolio
portfolio and
and
Bachelor
Bachelor ofof Law
Law degree.
degree. Indian
Indian Institute
Institute of
of where
where her
her clients
clients included
included
MSc
MSc in in Philosophy
Philosophy and and marketing
marketing strategy,
strategy, and and aa
She
She speaks
speaks fluent
fluent Mandarin
Mandarin Management
Management in in Lucknow,
Lucknow, public
public trusts
trusts andand hedge
hedge
Public
Public Policy
Policy fromfrom the the Chinese
Chinese science
science park park to to
and
and English.
English. India.
India. He
He isis fluent
fluent in in funds.
funds. Ms.
Ms. Wong
Wong has has also
also
London
London School
School of
of draft
draft aa growth
growth strategy
strategy and
and
English,
English, French
French and
and worked
worked atat Arthur
Arthur Andersen
Andersen
Economics
Economics and and Political
Political business
business restructuring
restructuring plan.
plan.
Spanish.
Spanish. in
in Hong
Hong Kong,
Kong, andand Putnam
Putnam
Science.
Science. Investments
Investments inin London.
London. ‰
‰ Mr.
Mr. Zheng
Zheng received
received aa MSc MSc
‰
‰ Mr.
Mr. Song
Song isis fluent
fluent in
in English
English in
in Statistics
Statistics from
from the
the London
London
‰
‰ Ms.
Ms. Wong
Wong received
received aa BS
BS in
in
and
and French.
French. School
School of of Economics
Economics and and aa
Business
Business Management
Management and and BA
BA inin Finance
Finance fromfrom Fudan
Fudan
Economics
Economics fromfrom Babson
Babson University.
University. He He isis aa Chinese
Chinese
College.
College. Ms.
Ms. Wong
Wong isis citizen
citizen and
and speaks
speaks fluent
fluent
conversant
conversant inin Cantonese
Cantonese Mandarin,
Mandarin, EnglishEnglish and and
and
and Mandarin.
Mandarin. Cantonese.
Cantonese.

28
The BDA team

Toshiaki
Toshiaki Yokohara
Yokohara Vita
Vita Gu
Gu Ben
Ben Kamarck
Kamarck Sung
Sung Lim
Lim Sheryl
Sheryl Luo
Luo
Associate
Associate Analyst
Analyst Analyst
Analyst Analyst
Analyst Analyst
Analyst

‰
‰ Toshiaki
Toshiaki Yokohara
Yokohara isis anan ‰
‰ Vita
Vita Gu
Gu isis an
an Analyst
Analyst based
based ‰
‰ Ben
Ben Kamarck
Kamarck isis an
an analyst
analyst ‰
‰ Sung
Sung LimLim isis an
an Analyst
Analyst ‰
‰ Sheryl
Sheryl Luo
Luo isis an
an Analyst
Analyst
Associate
Associate based
based in
in Tokyo.
Tokyo. in
in Shanghai.
Shanghai. based
based in
in Hong
Hong Kong.
Kong. based
based in
in Seoul.
Seoul. based
based in
in Shanghai.
Shanghai.
‰
‰ Before
Before joining
joining BDA,
BDA, Mr.
Mr. ‰
‰ Prior
Prior to
to joining
joining BDA,
BDA, Ms.
Ms. Gu
Gu ‰
‰ Prior
Prior to to joining
joining BDA,
BDA, Mr.Mr. ‰
‰ Prior
Prior to
to joining
joining BDA,
BDA, Mr.
Mr. Lim
Lim ‰
‰ Prior
Prior toto joining
joining BDA,
BDA, Ms.
Ms.
Yokohara
Yokohara worked
worked at at AIG
AIG was
was aa Research
Research Analyst
Analyst at
at Kamarck
Kamarck was was Deputy
Deputy Editor
Editor worked
worked for for Seoul
Seoul Marketing
Marketing Luo
Luo worked
worked in in Finance
Finance
managing
managing financial
financial analysis
analysis Cameron
Cameron Partners,Partners, thethe and
and China
China Correspondent
Correspondent Service
Service Company
Company as as aa Department
Department of of Sainsbury’s
Sainsbury’s
for
for four
four businesses
businesses in in leading
leading independent
independent for
for the
the Times
Times of
of Central
Central Asia
Asia marketing
marketing strategy
strategy planer.
planer. Co.,UK
Co.,UK andand had
had interned
interned in
in
Japan.
Japan. investment
investment bank bank in in New
New in
in Kyrgyzstan.
Kyrgyzstan. He
He also
also Haitong
Haitong Security
Security Company
Company
‰
‰ Mr.
Mr. Lim
Lim received
received aa B.S.
B.S. inin
Zealand.
Zealand. worked
worked as as an an education
education and
and IBM
IBM China.
China.
‰
‰ Mr.
Mr. Yokohara
Yokohara graduated
graduated Operations
Operations Research
Research &&
consultant
consultant with
with Karen
Karen
with
with aa Bachelor’s
Bachelor’s degree
degree in
in ‰
‰ Ms.
Ms. Gu
Gu graduated
graduated from
from the
the Industrial
Industrial Engineering
Engineering from
from ‰
‰ Luo
Luo graduated
graduated fromfrom the
the
Refugees
Refugees on on the
the Thailand-
Thailand-
business
business administration
administration University
University of
of Sydney,
Sydney, Cornell
Cornell University
University with
with anan University
University of
of Nottingham,
Nottingham,
Myanmar
Myanmar border.
border.
from
from Meiji
Meiji University
University and
and Australia
Australia (Master
(Master of
of emphasis
emphasis in in data
data mining
mining UK
UK (MA
(MA inin Finance
Finance andand
has
has received
received aa Master
Master ofof Commerce,
Commerce, Finance)
Finance) and
and ‰
‰ Mr.
Mr. Kamarck
Kamarck graduated
graduated with
with and
and optimization.
optimization. Investment)
Investment) and
and
Accountancy
Accountancy fromfrom Golden
Golden Victoria
Victoria University
University of
of aa BSc
BSc inin Foreign
Foreign Service
Service Southwestern
Southwestern University
University of
of
‰
‰ He
He isis fluent
fluent in
in spoken
spoken and
and
Gate
Gate University.
University. Wellington,
Wellington, New
New Zealand
Zealand and
and aa concentration
concentration inin Asian
Asian Finance
Finance and
and Economics
Economics In In
written
written English
English and
and Korean.
Korean.
(Bachelor
(Bachelor ofof Commerce,
Commerce, Studies
Studies at
at the
the Walsh
Walsh School
School China
China (BA
(BA inin International
International
‰
‰ He
He isis fluent
fluent in
in English
English and
and Accounting
Accounting and
and Money
Money && of
of Foreign
Foreign Service
Service at at Finance).
Finance).
Japanese.
Japanese. Finance).
Finance). Georgetown
Georgetown University.
University. ‰
‰ Ms.
Ms. Luo
Luo isis fluent
fluent in
in
During
During his
his studies,
studies, he
he spent
spent
‰
‰ Ms.
Ms. Gu
Gu has
has also
also completed
completed Mandarin
Mandarin and
and English.
English.
aa year
year at
at Nanjing
Nanjing University
University
graduate
graduate studies
studies inin Applied
Applied in
in China
China where
where hehe studied
studied
Finance
Finance from
from Victoria
Victoria Mandarin
Mandarin Chinese
Chinese and and
University
University of
of Wellington.
Wellington. Chinese
Chinese Foreign
Foreign Relations.
Relations.
‰
‰ Ms.
Ms. Gu
Gu isis fluent
fluent in
in Mandarin
Mandarin ‰
‰ Mr.
Mr. Kamarck
Kamarck isis proficient
proficient in
in
and
and English.
English. Mandarin
Mandarin Chinese
Chinese and and
Karen
Karen languages.
languages.

29
The BDA team
Eliot
Eliot Mi
Mi Diwakar
Diwakar Mitr
Mitr Vineet
Vineet Tyagi
Tyagi Tanya
Tanya Wang
Wang
Analyst
Analyst Analyst
Analyst Analyst
Analyst Analyst
Analyst

‰
‰ Eliot
Eliot Mi
Mi isis an
an Analyst
Analyst based
based ‰
‰ Diwakar
Diwakar Mitr
Mitr isis an
an Analyst
Analyst ‰
‰ Vineet
Vineet Tyagi
Tyagi isis an
an analyst
analyst ‰
‰ Tanya
Tanya Wang
Wang isis an
an Analyst
Analyst
in
in Shanghai.
Shanghai. based
based in
in Mumbai.
Mumbai. based
based in
in Mumbai.
Mumbai. based
based in
in Shanghai
Shanghai
‰
‰ Prior
Prior to
to joining
joining BDA,
BDA, Mr.
Mr. MiMi ‰
‰ Prior
Priorto
to joining
joining BDA,
BDA, Mr. Mr. Mitr
Mitr ‰
‰ He
He previously
previously worked
worked at at ‰
‰ Prior
Prior toto joining
joining BDA,
BDA, Ms.Ms.
worked
worked at at Tax
Tax and
and Business
Business worked
worked as as aa trading
trading analyst
analyst Godrej
Godrej && Boyce, Boyce, the the Wang
Wang worked worked at at thethe
Advisory
Advisory Service
Service at
at Transparent
Transparent Shares Shares && furniture
furniture and
and lock
lock making
making Assurance
Assurance and and Advisory
Advisory
Department
Department of
of Securities
Securities Pvt.
Pvt. Ltd
Ltd where
where he he subsidiary
subsidiary ofof leading
leading Indian
Indian Business
Business Service
Service
PricewaterhouseCoopers
PricewaterhouseCoopers was responsible for industrial
Shanghai, was responsible for industrial group
group Godrej
Godrej Ltd.
Ltd. Department
Department of of Ernst
Ernst &&
Shanghai, where where he he waswas analyzing
analyzing andand trading
trading Indian
Indian Young
Young Shanghai,
Shanghai, where
where she
she
responsible
responsible for for tax
tax advisory
advisory ‰
‰ Mr.
Mr. Tyagi
Tyagi graduated
graduated with
with aa
equities
equities on on the the National
National was
was responsible
responsible for for PRC
PRC
for
for M&A,
M&A, IPO IPO restructuring,
restructuring, Bachelors
Bachelors and and Masters
Masters
Stock
Stock Exchange
Exchange of of India.
India. and
and IFRS
IFRS statutory
statutory audit,
audit,
foreign
foreign direct
direct investment
investment degree
degree in in Technology,
Technology,
and cross-border internal
internal control
control evaluation,
evaluation,
and cross-border ‰
‰ Mr.
Mr. Mitr
Mitr graduated
graduated from
from specializing
specializing in
in Metallurgical
Metallurgical
commercial credit
credit review,
review, financial
financial
commercial transactions.
transactions. Dartmouth
Dartmouth College
College in
in the
the Engineering
Engineering andand Materials
Materials statement
statement analysis,
analysis, IPO IPO
His US
US with
with aa Bachelor
Bachelor of
of Arts
Arts Science,
Science, from
from the
the Indian
Indian
‰
‰ His clients
clients include
include Eaton
Eaton audit,
audit, and
and duedue diligence
diligence forfor
Corporation, degree
degree inin Economics
Economics andand Institute
Institute ofof Technology,
Technology,
Corporation, Suntech
Suntech Power
Power M&A
M&A transactions
transactions by
by
Co.,
Co., Ltd,
Ltd, Jing'Ao
Jing'Ao Solar
Solar Co.,
Co., Computer
Computer Science.
Science. Bombay.
Bombay. multinational
multinational companies.
companies.
Ltd,
Ltd, Rail
Rail Partners,
Partners, Jinjiang
Jinjiang He
Group, Hutchison
‰
‰ He isis fluent
fluent in
in Hindi
Hindi and
and ‰
‰ He
He isis fluent
fluent in
in Hindi
Hindi and
and Her
Her clients
clients include
include Industrial
Industrial
Group, Hutchison English. English. and
Properties, Treasury English. English. and Commercial
Commercial Bank Bank of of
Properties, Treasury China
Holdings, China (ICBC),
(ICBC), Shanghai
Shanghai
Holdings, etc.
etc. Pudong
Pudong Development
Development Bank, Bank,
‰
‰ Mr.
Mr. Mi Mi graduated
graduated from from Mizuho
Mizuho Corporate
Corporate Bank, Bank,
Southwestern
Southwestern University
University of of United
United Overseas
Overseas Bank,Bank, Fuji
Fuji
Finance
Finance and and Economics
Economics Xerox
Xerox and
and Lear
Lear etc.
etc.
with
with BA
BA degree
degree in in Corporate
Corporate
Finance.
Finance. He He speaks
speaks fluent
fluent ‰
‰ Ms.
Ms. Wang
Wang graduated
graduated from
from
Mandarin
Mandarin and and English.
English. Peking
Peking University
University withwith
double
double B.A.degrees,
B.A.degrees, in in
English
English literature
literature as
as well
well as
as
Economics
Economics and and Finance.
Finance.
She
She speaks
speaks fluent
fluent Mandarin
Mandarin
and
and English.
English.

30
The BDA team
Casey
Casey Yang
Yang Lynn
Lynn Zhang
Zhang Sherry
Sherry Zhou
Zhou
Analyst
Analyst Analyst
Analyst Analyst
Analyst

‰
‰ Casey
Casey Yang
Yang isis an
an Analyst
Analyst ‰
‰ Lynn
Lynn Zhang
Zhang isis an
an Analyst
Analyst ‰
‰ Sherry
Sherry Zhou
Zhou isis an
an Analyst
Analyst
based
based in
in Seoul.
Seoul. based
based in
in Shanghai.
Shanghai. based
based in
in Shanghai.
Shanghai.
‰
‰ Prior
Prior to
to joining
joining BDA,
BDA, Ms.
Ms. ‰
‰ Prior
Prior to
to joining
joining BDA,
BDA, Ms.
Ms. ‰
‰ Before
Before joining
joining BDA,
BDA, Ms. Ms.
Yang
Yang worked
worked forfor Deloitte
Deloitte Zhang
Zhang had had interned
interned at at Zhou
Zhou was
was an an Account
Account
(Financial
(Financial Advisory
Advisory Ceyuan
Ceyuan Ventures
Ventures (a(a Private
Private Manager
Manager at
at Global
Global
Services)
Services)inin Seoul.
Seoul. Equity
Equity Firm),
Firm), Hang
Hang Seng
Seng Incorporation
Incorporation Centre
Centre (HK)
(HK)
Bank
Bank and
and General
General Electric
Electric Limited,
Limited, providing
providing PRC PRC
‰
‰ Prior
Prior to
to that,
that, she
she worked
worked for
for China.
China. corporate
corporate establishment
establishment
TOSS
TOSS Education,
Education, R&DR&D services
services to
to foreign
foreign
center
center as as aa researcher
researcher ‰
‰ Ms.
Ms. Zhang
Zhang graduated
graduated fromfrom companies
companies andand overseas
overseas
based
based inin Seoul.
Seoul. Fudan
Fudan University
University (BA,
(BA, IPO
IPO consulting
consulting services
services to
to
Economics)
Economics) where
where she
she also
also
‰
‰ She
She received
received aa B.A. B.A. in
in domestic
domestic Chinese
Chinese
participated
participated in in overseas
overseas
Economics
Economics from
from York
York companies.
companies.
exchanges
exchanges to to the
the United
United
University
University in in Toronto.
Toronto. Ms.
Ms. States
States (Virginia
(Virginia ‰
‰ Previously,
Previously, Ms.
Ms. Zhou
Zhou also
also
Yang
Yang isis fluent
fluent in
in Korean
Korean and
and Commonwealth
Commonwealth University
University worked
worked for
for ACNielsen
ACNielsen
English.
English. and
and Stanford
Stanford University).
University). Marketing
Marketing Research
Research
(Shanghai)
(Shanghai)Company.
Company.
‰
‰ Ms.
Ms. Zhang
Zhang isis fluent
fluent in
in
Mandarin
Mandarin and
and English.
English. ‰
‰ She
She graduated
graduated from
from thethe
University
University of
of Bristol
Bristol (LL.M.
(LL.M.
Commercial
Commercial Law)
Law) and
and East
East
China
China University
University of
of Politics
Politics
and
and Law
Law (LL.B.
(LL.B. Civil
Civil and
and
Commercial
Commercial Law).
Law). SheShe isis
fluent
fluent in in English
English and and
Mandarin.
Mandarin.

31
BDA senior advisers

‰ Chris Adelmann is based in Los Angeles, and has extensive experience in media consulting, investment banking and corporate
development. His clients include Alcatel, AIG Capita, British Aerospace, Dutch Broadcasting, GE Capital, and Sony. He is Senior
Adviser to Loews Cineplex, developing and executing their China strategy. Mr. Adelmann is also Adviser to Parkview International, of
Hong Kong, advising them on their major, multi-use real estate development in Battersea Power Station in London. Prior to this he was
EVP at Warner Brothers International Cinemas 1996-2001, driving growth to 1,200 screens in seven countries. Mr Adelmann was
Director, Worldwide Business Development, Hard Rock Café, the subsidiary of Rank PLC, 1993-96, and worked at Bankers Trust 1991-
1993, where he advised companies and financial sponsors on cross border acquisitions and financings. Mr Adelmann began his career
in corporate finance with Lorimar Telepictures. He holds an MBA from UCLA (Anderson) and a BA from Hobart College.

‰ Hyo-Whi Baik is based in Seoul. He was CEO of KEFICO Corp, an automotive JV between Hyundai Motor, Bosch and Mitsubishi
Group, from 1997-2002. Mr. Baik was COO of the Hyundai Motor Corporation where he played a significant role in the development
before moving to KEFICO as senior EVP, and then becoming president & CEO of Hyundai Motor America. Prior to that, he led various
overseas branches of Hyundai Engineering & Construction Co. in Europe and Middle East Asia for 17 years. Mr. Baik has a degree in
business administration from Korea University in Seoul. He speaks fluent Korean and English.

‰ Mark Juhn is based in Seoul. He is also CEO of Hyundai Corporation, a leading Korean trading company and exporter with operations
in Machinery & Plant, Steel, Chemicals, Information & Telecoms. Mr. Juhn has played a key role in the development of the Korean
automotive industry, with over 30 years of sector experience. He started his career with six years at General Motors, followed by 24
years at Hyundai Motor Company, where he was President and CEO of Hyundai Motor America, headed Hyundai Auto Canada, and
headed Hyundai Motor Finance Company. He led Kia Motor as COO and head of International from 2000-2003. Mr. Juhn has a degree
in industrial engineering from Seoul’s Hanyang University. He speaks fluent Korean, English and Spanish, and conversational Dutch.

‰ Hamed Khan is based in Bahrain. An independent investment banking practitioner, Mr Khan was formerly CFO at Bahrain Steel Iron
Co. He has also played key roles as the Vice President and Head of Project & Structured Finance and Syndications at Dubai Islamic
Bank and as the Vice President of Project Finance at Gulf International Bank in Bahrain. He has also held various positions at Bank of
America in Pakistan and UAE, including Credit Manager for the Middle East and North Africa region. His clients for project and
structured finance, syndications and capital raising have included the Government of Dubai, Qatar Petroleum, and Saudi Electricity
Company. Mr. Khan earned his B Econ from Southern Oregon University and an MA in Development Economics from the University of
Kent at Canterbury. He is fluent in Arabic and English.

‰ François Périer is based in Paris. He worked from 1983-2001 in senior management positions for the European oil and gas majors,
Total and Elf. He served in the main Board of Directors of Total, as a member of the Executive Committee of TotalFinaElf, Senior EVP
for chemicals, COO of Atofina (with 70,000 employees and revenues of Euros20bn), COO of Elf Atochem, as a member of Executive
Committee of Elf Atochem in charge of basic chemicals, and as EVP of Acrylics. 1977-1982, he served as a French civil servant at the
Corps des Mines from 1977 until 1982, first in charge of a regional environment protection agency then in the French Ministry of Industry
and at the Ecole des Mines de Paris; he also worked part-time for President Mitterrand in 1981. He was educated at the Ecole des
Mines de Paris (in chemicals) and the Ecole Polytechnique (in the automotive sector).

32
BDA senior advisers

‰ Richard Raynsford is based in London and Mumbai. For the last fifteen years he has traveled widely through the Middle East and
Asia as an independent consultant. He is currently a director of Lake District Estates Ltd. Mr. Raynsford was previously executive
director of Shapland & Petter Ltd. He was called to the Bar by Lincoln’s Inn in 1974 and spent six years working in the Political Risk,
Kidnap and Ransom divisions of the Hogg Robinson Group. In 1968 he was commissioned into the British army where he served five
years with the Life Guards. Mr. Raynsford was educated at Eton College, the Sorbonne, Paris and the Royal Agricultural College,
Cirencester.

‰ Roddy Sale is based in Mumbai. Mr. Sale is an independent consultant specializing in multinational entry and acquisition strategies
particularly for the mining, media, and telecoms sector. In 2001 to 2002, Mr. Sale was Managing Director & Head of Investment Banking
– India and Sri Lanka for JPMorgan. From 1993-2001, he was Director and Head of Capital Markets / Investment Banking – India & Sri
Lanka for Jardine Fleming, at that stage Asia's leading regional investment bank. Mr. Sale's clients have included The Indian
Government (for whom he pioneered and led the privatization process for VSNL, Gas Authority of India, Bharat Aluminium and Hotel
Corporation of India and restructured the Andra Pradesh State Electricity Board), BHP Billiton, Deccan Gold Mines, Hindustan Lever,
Lafarge, Nicholas Piramal, Mercury Oil & Gas, SEMPRA Metals, Spryance, VSNL. He has lived in India since 1993. His previous
employers include Robert Fleming and Merrill Lynch. He was Commissioned as a Captain in the British Army (Welsh Guards) 1979-
1986.

‰ Pradeep Saxena is based in Mumbai. His career spans thirty years in International Banking and Information Technology. He was
President of eFunds International from 2000 to 2003. Before that he was Managing Director and CEO of the South Asia Region of ING
Barings and Executive Director with Merrill Lynch International, London. He has also worked in senior management positions for
MashreqBank, Commercial Bank of Oman, and the American Express Bank in the US, UK and India. This included an assignment as
VP and Head of Corporate Banking, American Express India. He has a BS in Economics and a MS from the University of Mumbai.

‰ Don Straszheim is based in Los Angeles and Beijing. He is chairman and CEO of Straszheim Global Advisors, an analytical
research firm providing China-focused macroeconomic and financial advice to governments, financial institutions, multinationals and
institutional money managers. From 1985 to 1997, Don was Chief Economist for Merrill Lynch and Co, the world's largest securities
firm. He was voted ten consecutive years to Institutional Investor's All-Star Team (equity or fixed income). Straszheim left Wall Street to
serve as President of the Milken Institute (1997-2002), a not-for-profit, economic- and public-policy think tank, now serving as Vice
Chairman. Straszheim is a regular analyst in the business and financial media and a well-known speaker. Earlier he held positions at
Wharton Econometrics, the Weyerhaeuser Company and Investors Diversified Services, now American Express Advisors. He has
various board and other relationships. He holds BS, MS and PhD degrees from Purdue University.

‰ Hugh Trenchard is based in Tokyo. From 1996 to 2000 he was the director and head of Robert Fleming & Co’s Japanese Investment
Banking division, managing teams in London and Tokyo. He has worked with clients such as Fuji Bank, Fujitsu, Funai Electric, Japan
Telecom, JR East, Jinro, Mitsubishi Electric, NSK, NTT, Sumitomo Life and TI Group. He is Joint Chairman of the Japan Society and a
member of ANA's Advisory Panel. He was a member of the House of Lords from 1987 to 1999. From 1980 to 1996, Viscount
Trenchard worked for Kleinwort Benson successively as Chief Rep in Japan 1980-1985, GM of the Tokyo Branch 1985-1988, President
of KB Corporate Finance Asia 1988-1993, President and Senior Rep in Japan and Korea 1993-1995 and Deputy Chairman 1995-1996.
By 1995 he ran a staff of 250. He is fluent in Japanese. Viscount Trenchard is a graduate of Trinity College, Cambridge University.

33
Asian coverage and global reach
New York
Euan Rellie London Bahrain Seoul Tokyo
Managing Director Andrew Huntley Tamer Makary Hans Kim Yuuichiro Nakajima
Managing Director Assistant Director Director Director,
Charlie Maynard Head of Tokyo Office
Managing Director
Jeff Acton
Director

Noriyuki Sonoda
Executive Senior
Advisor

Shanghai
Jeffrey Wang
Director,
Head of Shanghai office

Mark Webster
Director

Mumbai Hong Kong

Rohit Singh Paul DiGiacomo
Director Director
BDA offices and contacts
New York Shanghai Mumbai Seoul
Business Development Asia LLC Business Development Asia (SH) Co Ltd Business Development Asia Business Development Asia
The Economist Building, 11th Floor The Center, #3706 898 Notan Plaza, Suite 4A #1201 Gwanghwamun Officia,
111 West 57th St 989 Changle Road Turner Road, Bandra (West) 163 Sinmunno 1-Ga, Jongno-Gu
New York, NY 10019 Shanghai 200031, China Mumbai 400050, India Seoul, 110-999, Korea
Tel (212) 265-5300 Tel (86) 21-5407-5580 Tel (91) 22-2643-0290 Tel (82) 2-3276-3150
Fax (212) 265-4300 Fax (86) 21-5407-5680 Fax (91) 22-2643-0291 Fax (82) 2-3276-3155

London Tokyo Hong Kong Bahrain

Business Development Asia Ltd Business Development Asia Business Development Asia (HK) Ltd Business Development Asia
10 Crown Place 4F, T3 Gates 1206 Lippo Centre, Tower 1 2204 Al Moayyed Tower
Clifton St 3-8-25 Toranomon 89 Queensway Seef District
London EC2A 4FT Minato-ku, Tokyo, 105-0001 Hong Kong Manama, Bahrain
Tel (44) 20-7655-3500 Tel (81) 3-3433-5803 Tel (852) 2537-9565 Tel (973) 1756-7914
Fax (44) 20-7655-8913 Fax (81) 3-3433-5269 Fax (852) 2537-4406 Fax (973) 1756-7901 www.bdallc.com

34