C L A R I D E N 7-9 March 2016

Transcription

1 Gain up to 24 CPD hours in just 3 days! C L A R I D E N 7-9 March 2016 Knowledge for the world business leaders Cordis Hong Kong, at Langham Place Creating Value Through Strategic Financial Modeling Techniques Faculty Director Credentials Dr. Brent Wheeler Awarded the Commonwealth Medal for his contribution on privatization as a Senior Analyst at the N.Z. Office of the Minister of State Owned Enterprises Chairman and Director of several companies (i.e. Tasman Pacific Insurance and Munich Capital Limited etc.) as well as a Trustee on several trusts Chief Equities Strategist of Amanah US Equities Fund, for NZ retirement and pension KiwiSaver scheme Member Institute of Finance Professionals New Zealand Inc. (INFINZ) and Certified Securities Analysis Professional (CSAP) Hear From Participants Who Enjoyed Dr. Wheeler s Training I would like to again thank Brent for his time over the past two days. We were all so inspired and re-energized and looking forward to the next session. - Partner, Bank of New Zealand Interesting and informative... The use of real examples and anecdotes from Brent s vast experience really helps illustrate points. - CEO, New Zealand Milk Product Company

2 FACULTY DIRECTOR Dr. Brent Wheeler Awarded the Commonwealth Medal for his contribution on privatization as a Senior Analyst at the N.Z. Office of the Minister of State Owned Enterprises Chairman and Director of several companies (i.e. Tasman Pacific Insurance and Munich Capital Limited etc.) as well as a Trustee on several trusts Chief Equities Strategist of Amanah US Equities Fund, for NZ retirement and pension KiwiSaver scheme Member Institute of Finance Professionals New Zealand Inc. (INFINZ) and Certified Securities Analysis Professional (CSAP) Dr. Brent Wheeler has been advising on corporate finance, investment analysis, financial economics and business planning for the past 30 years. With a comprehensive repertoire of financial skills and investment acumen, he has been involved with various projects concerning valuation of companies, projects and investment, asset allocation, evaluation and assessment of capital markets, and business strategy. Notable ones include: Annual Fonterra valuation with $19 billion turnover Team Leader for valuation and establishment of NZ Rail Limited Team Leader for $30 million Provincial Finance bond issue Dr. Wheeler was awarded the Commonwealth Medal for his contribution on privatization during his tenure as a senior analyst at the N.Z. Office of the Minister of State Owned Enterprises. He was also a senior analyst at the N.Z. Treasure and a N.Z. delegate to the Economic Co-operation and Development (OECD). Presently, he is an independent appraiser for the New Zealand Stock Exchange and a senior lecturer at the University of Otago and Massey University while running his own economics advisory. Dr. Wheeler has taught courses in finance for the public, private organizations and NGOs over the last two decades. Outside of New Zealand and Australia, his training activity has extended into the Asian markets of Singapore, Hong Kong, Malaysia and Thailand. The particular strength he brings to this area is that he has been and continues to be a Chair and Director of several companies across a wide spectrum of commercial activity as well as being a Trustee on several trusts. Partial list of companies that have benefited from Dr. Wheeler s expertise: Fertco Limited (Chairman) Tasman Pacific Insurance (Chairman) The Boardroom Practice Limited (Executive Chairman) Amanah New Zealand (Chief Equities Strategist) Munich Capital Limited (Director) Fonterra, New Zealand Watercare Services Ltd, New Zealand Amanah New Zealand Singapore Airlines Terminal Services Corp Singapore Mass Transit Corp Standard Chartered Bank, Hong Kong NSW Premiers Department, Australia 2

3 EXECUTIVE SUMMARY Program: Dates: Location: Financial Modeling for Investment Analysis and Evaluation of New Business Opportunities 7-9 March 2016 Cordis Hong Kong, at Langham Place Early Bird 1 (Register & pay by 11 January 2016): Early Bird 2 (Register & pay by 8 February 2016): Regular Tuition Fee: US$2,695 US$2,895 US$2,995 Group discount of 10% for 2nd participant from the same organization. For limited time only by 8 February 2016 register 3 participants and the 4th participant will receive a complimentary seat (One discount scheme will apply). Program Essence: New business investment is a risky business. Wise investment decision making is more challenging than ever with harsh competition and complex macroeconomic environment, making it imperative for finance and investment leaders to have solid foundation in performing sharp concise analysis and appraisal of investments. This intensive 3-day program on and Evaluation of New Business Opportunities is designed to provide you with an extensive range of analytical and forecasting skills required to perform high quality investment evaluation to aid short-term and longterm investment decisions. By discovering the essential features in Excel, your investment planning and analysis processes will be greatly enhanced as sophisticated financial models facilitate better data analysis; calculate projected costs and returns, perform risk analysis, predicts investment project outcome, and justify critical investment decisions. Beyond that, you will also gain access to a comprehensive database from both emerging and world markets, including cost of capital variables and operating statistics, to help you perform your investment appraisal more effectively. At the end of the program, you will gain the confidence to undertake a variety of investment analyses by building customized financial models backed by the latest datasets, and apply them to your future business investment assessments. PROGRAM CREDENTIALS Partial List Of Past Participating Companies From Clariden s Financial Leadership Programs AXA, BHP Billiton, Bayer, Canon, Chanel, Nasdaq, Nestle, Cisco, GSK, Pfizer, Bacardi Limited, Dunkin Brands, EMC, Emirates, Keppel Land, AHK Air Hong Kong, Deutsche Börse, Standard Chartered Bank, Nippon Paint, Omnicom Group, Dimension Data, Daimler, Siemens and more 3

4 PROGRAM OVERVIEW Businesses are getting increasingly competitive. Executives across the board are required to constantly improve decision making and understanding of investments and project proposals. As project investment is a very risky business, it is imperative that finance and investment leaders have an in-depth knowledge of financial analysis in order to make quality decisions about the financial merits of a project. This 3-day program on provides a post-gfc update on the latest thinking on project valuation for investment decisions, and focuses on the financial analysis required to make high quality decisions. It is designed to provide you with an extensive range of analytical and forecasting skills, which will be highly relevant in today s business and financial world. You will learn how to use your corporate resources most efficiently to maximize profitability. Your investment planning process will be greatly enhanced as sophisticated financial models facilitate accurate evaluation for both the long and short-term investment projects. Besides that, you will learn about the specific current topics as well as traditional methods and techniques, including: Investment in a post-gfc world with low growth New methods for cost of capital estimates The new macroeconomic environment for investing This is a completely updated version of a hugely popular Financial Analysis and Modeling for Investment program which has been running successfully in Singapore, Malaysia, Hong Kong and Thailand since You will gain access to the latest database, from both emerging and world markets, including cost of capital variables and operating statistics, as well as capture changes in concepts and data since the economic meltdown. As this program incorporates extensive spreadsheet valuation models, you are required to bring along your laptops, equipped with Excel spreadsheets, to maximize learning. Free Takeaways All delegates will receive Up to date (2015) data for all major global capital markets (major securities parameters) 122 industry breakdown models for all major world markets (major company financial metrics) Spreadsheet models for every session which delegates can use in their own work Models and assessments built during the course Written templates for developing own analyses and appraisals Handbook covering all material in the course plus additional reference and instruction material (electronic) 4

5 WHO WILL BENEFIT THE MOST CFOs, VPs, MDs, GMs, Chief Accountants, Directors, Managers and Senior Analysts in: Corporate Finance Financial Management / Finance Business Partners Financial Analysis / Financial Planning and Reporting Investment Project / Project M&A and Business Valuation Strategic Planning / Corporate Planning / Capital Planning Business Development / Corporate Development Commercial Management Profit Centre Management Corporate Financing Portfolio Management / Product Control Management Accounting / Revenue Accounting and Controls LEARNING OBJECTIVES PERFORM a comprehensive financial analysis for identifying financial strengths, problems and risky areas in investment decisions DEVELOP an understanding of how to gain maximum benefit from investment appraisal processes INTEGRATE economic, political and organizational factors with financial decision making MITIGATE investment risks by defining, measuring and controlling risks DEVELOP skills in a range of investment analysis techniques UNDERSTAND how the debates in finance should be taken into account FAMILIARIZE yourself with investment appraisal methods and comparison of decision rules, advantages and limitation FIND OUT what factors are most important to consider when undertaking a capital investment project DISCOVER why and when traditional valuation techniques fail EXPLORE and work on valuation methods using Discounted Cash Flow (DCF), Economic Value Added (EVA) and Options CPD CERTIFICATION DETAILS This course has been independently certified as conforming to accepted CPD guidelines. On average, this executive program contributes 24 hours towards your CPD. Delegates must register at the start and close of the workshop to be awarded a certificate of completion. 5

6 PROGRAM OUTLINE DAY ONE Fundamental Evaluation Framework Defining And Analyzing Investment Opportunity These sessions create the framework, illustrate and demonstrate the process of investment analysis, demonstrated with exercises and case studies. Delegates build their own usable models and databases which can be applied directly to their back at the office investment appraisals and business opportunity assessments. The Appraisal Process Assessing the type of investment differing approaches lead to different investments Defining what investment you are seeking Passive versus active Asset classes and the investment portfolio How are you planning to add value? The Operating Climate The investing climate Asset classes returns Investment in low, slow and high growth markets Markets for investment and their risks How to appraise the operating climate and incorporate assessments into appraisals Accounts, Cash and Financial Information The three big statements and investment appraisal Ratios for measuring financial performance and health Exercises interpreting investment implications of the financials Problems, pitfalls and trade-offs with financial information Exercise: Analyzing a Company Performance. The business and operating result. Health. Assets and liabilities. How strong is the company Comparative analysis using the databases and sources Special situations stress, re-structure, growth DAY TWO Methods and Techniques Data, Modeling and Excel Skills Day two is concerned with giving delegates the tools to analyze first then model second. Once the tools of analysis are familiar we will build those into models using best practice methods in Excel. Practical exercises are used so that we understand both in concept and practice. Improving Excel Modeling Skills Best practice modeling Setting up software and spreadsheets Tips and tricks for excel Building a core model Exercise in investment modeling Value Analysis Building a Model of the Opportunity What exactly is value? Margin, volume and risk Building up a value story. The supermarket example Linking accounts to the value story Finding value drivers in the accounts. What to look for 6

7 The Basic Model How to scope the model. What capabilities do we want The main sections. What goes where and why The control variables. What are they and how should they work? Output considerations. From spreadsheet to reports Forecasting Techniques and their Modeling Linear forecasting arithmetic and spreadsheet modeling Plausible assumptions for forecasting. Errors and noise Forecasting variable and fixed costs Applying the techniques to our basic model Free cash flow modeling What is profit, cash, cash flow, free cash flow Using control accounts to generate free cash flows Ways to compute present values NPV, IRR functions in Excel differences and quirks DAY THREE Applications Estimating and Modeling Investment Value Day Three is concerned with practical applications of investment appraisal. Models, data and concepts developed on Days One and Two are used to feed practical exercises and examples. Delegates again build models most notably valuation models for undertaking appraisals. Valuing Investments Choosing the correct model pitfalls and merits Cost of capital, risk and capital structure concepts Cash flow valuation Valuation with multiples Adjustments dealing with exceptions, difficult to value assets and liquidity problems Building A Financial Appraisal Model DCF Valuation Model Delegates build their own financial appraisal model Estimating the cost of capital Forecast the revenues certainty equivalents and orthodox forecasting Cost estimation methods for variable and fixed costs Testing, calibrating the model and sensitivity runs The Value Add: Modeling Improvements Forecasting and modeling economies of scope and scale Marketing, productivity, cost cutting savings Pitfalls, costs of re-structures, value erosion and risk Running scenarios what could happen? What are the value impacts? How to incorporate potential into the investment decision Capital Considerations Financing investment The significance of working capital in investment and modeling Dealing with volatility options for managing and their implications How to model working capital requirements how can it be done Sensitivity runs on the model with different working capital assumptions Concluding Discussions 7

8 FINANCIAL MODELING FOR INVESTMENT ANALYSIS AND EVALUATION OF NEW BUSINESS OPPORTUNITIES 7-9 March 2016 Cordis Hong Kong, at Langham Place REGISTRATION PAGE C L A R I D E N Knowledge for the world business leaders Booking Contact (Approving Manager) Mr/Mrs/Ms: Job Title: Department: Telephone: Fax: Organization: Address: Postal Code: I would like to receive more information on hotel accommodation using Clariden Global coporate rate. Please Register the following participant(s) for this Program: 1st Participant Name (Mr/Mrs/Ms): Job Title: Department: Telephone: Fax: Date of Birth: 2nd Participant Name (Mr/Mrs/Ms): Job Title: Department: Telephone: Fax: Date of Birth: 3rd Participant Name (Mr/Mrs/Ms): Job Title: Department: Telephone: Fax: Date of Birth: 4th Participant Name (Mr/Mrs/Ms): Job Title: Department: Telephone: Fax: Date of Birth: PROGRAM FEES 1 ST EARLY BIRD FEE: US$2,695 (Registration and payment must be received by 11 January 2016) 2 ND EARLY BIRD FEE: US$2,895 (Registration and payment must be received by 8 February 2016) REGULAR FEE: US$2,995 GROUP DISCOUNT: For 2 registrations from the same company and billing source, the 2nd participant enjoys a 10% discount. For registrations before 8 February 2016 and for 3 or more participants, the 4th participant will receive a complimentary seat Important Notice: Payments are required with registration and must be received prior to the Course to guarantee your place. PAYMENT METHODS BY CHEQUE / BANK DRAFT : Made payable to CLARIDEN GLOBAL INTERNATIONAL LIMITED and mail to: 3 International Business Park, #04-29, Nordic European Centre, Singapore BY TELEGRAPHIC TRANSFER TO: Bank Name: Standard Chartered Bank Bank Code: 7144 Bank Branch Code: 001 Bank Address: 6 Battery Road, #01-01 Singapore Bank Account No: Bank Account name: CLARIDEN GLOBAL INTERNATIONAL LIMITED SWIFT Code: SCBLSG22 Please note that all bank charges are to be borne by participants. Please ensure Clariden Global International Limited receives the full invoiced amount. Note: Please include invoice number on all payment types and your company s name in your payment instructions for our reference. CREDIT CARD: To make payment by credit card, please call our client services hotline at WAYS TO REGISTER admissions@claridenglobal.com Fax: Call: Website: DATE AND LOCATION This executive program will be held at: Cordis Hong Kong, at Langham Place 7-9 March Shanghai Street, Mongkok, Kowloon, Hong Kong Tel: + (852) Fax: + (852) Website: The fee for this three-day executive program includes all written materials, lunch and refreshments. HOW TO REGISTER AND PAY An invoice and registration confirmation will be sent within 7 days, please contact us if you have not heard from us within 7 days. Payment can be made by credit card, by bank transfer or by cheque made payable to CLARIDEN GLOBAL INTERNATIONAL LIMITED. ALL PAYMENTS MUST BE RECEIVED IN ADVANCE OF THE EVENT. ACCOMMODATION Accommodation is not included in the program fee but you will be entitled to use our corporate rate for your accommodation. Information will be sent along with your registration confirmation. EARN CPD HOURS This course has been independently certified as conforming to accepted CPD guidelines. Delegates must register at the start and close of the workshop to be awarded a certificate of attendance. Participants may earn CPD hours after attending this executive program CANCELLATIONS AND SUBSTITUTIONS Once we have received your booking, the place(s) are confirmed. No refunds will be made for any cancellations, however, program credits of equivalent value only applicable for Clariden Global events will be provided. Credits can only be redeemed for 1 program and is valid for only one (1) year from date of issue. Substitution with a qualified candidate is allowed by providing at least 5 working days of advance notice to Clariden Global. One time substitution is allowed with no charges. Subsequent substitutions will be charged 10% admin fee. ALL CANCELLATIONS MUST BE RECEIVED IN WRITTEN FORM PLEASE NOTE: CLARIDEN GLOBAL INTERNATIONAL LIMITED reserves the right to change the content and timing of the programme, the speakers and the date and venue due to reasons beyond their control. If in the unlikely event that the course is cancelled, CLARIDEN GLOBAL INTERNATIONAL LIMITED will refund the full amount and disclaim any further liability. ENQUIRIES: If you have any queries about registration or payment please do not hesitate to contact our client services department on PRIVATE DISCLOSURE STATEMENT: Any information provided by you in relation to this event is being collected by CLARIDEN GLOBAL INTERNATIONAL LIMITED and will be held in the strictest confidence. It will be added to our database for the primary purpose of providing you with information about future events and services. Visit us at for upcoming events FOR OFFICIAL USE FEE RECEIVED REFERENCE L6035/EC/MS