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Calories, Maldives, squares
On the practice of investment presentations on the example of Sram and Mram
Dmitry ShcherbakovEditor in Chief EastRussia
The presentation of investment projects of the Khabarovsk Territory for the Indian Sram & Mram was held last Friday in the house of official receptions of the regional government. The Indians came in response to the recent visit of the Russian delegation - it was headed by Deputy Prime Minister Yuri Trutnev, and one of the participants was the Khabarovsk Governor Vyacheslav Shport. The governor was absent, instead of him the guests were received by the first deputy chairmen - Vasily Shikhalev on economic issues and Yuri Chaika on investments and priority projects. Do not be alarmed, I will not retell the official press releases (why - they were distributed on all feeds). I'll just dwell on a few details.
First, what kind of company is this - Sram & Mram Ltd. (for some reason it turned into SRAM & MRAM in the Khabarovsk spelling, apparently, so that there are no unnecessary associations with the word "shame"). On official band website it is called not even Indian at all, but international - based in Great Britain “with traces of presence on five continents and in 12 countries” (with footprints across 5 continents and 12 countries). There are also spellings SRam & MRam and S.Ram & M.Ram.
Sram & Mram's current line of interests is impressive, but it is still based on agriculture. “We believe the three pillars of any economy are natural resources, agriculture and information technology,” said Lahu Hiranandani, the founder and president of the Saylesha group. And he started his business 40 years ago, according to him, with small agricultural supplies of rice and peanuts in the Republic of Kampuchea (now the Kingdom of Cambodia) and loans to farmers.
For me personally, however, the name of the company remained a mystery. Although Mr. Hiranandani, to his credit, tried to explain it to those present. He said the company was originally called Sram. Generally speaking, the English ram is the verb "ram" or the noun "ram" (as well as "piston" and "ram", by the way). But in the era of personal computers, RAM became the designation for computer RAM, and SRAM and MRAM - its standards. “SRAM stands to super ram, and MRAM - to mega ram”, - so literally said the president of the company at the very beginning of the meeting. The translator translated absolutely artlessly: this means “super rem”, and this means “mega rem”.
What was meant? Memory cards? Something different? Mr. Hiranandani continued, at least by ear, I took it as follows: "Super ram - the products are we leading, are existing in a world now. And mega ram - the products which are not coming. " But this does not clarify the picture in any way. Apparently, those who talked to Indians longer can explain all this.
In general, as I understand it, Sram & Mram are now business angels investing in specific small start-up projects. Here is a very recent example - a company invests in the Indian fruit producer, so he opened his stores.
Sram & Mram's interest in the Khabarovsk Territory is primarily aroused by its minerals, said Saylesha Lahu Hiranandani to the press during the break of the meeting. It went to news feeds in the following interpretation: “We are interested in gold, silver, coal and other resources. In the international practice of our company, investments in such projects require from $ 5 to 10 million, a more accurate amount can be named later "(Quote on TASS). In fact, an Indian businessman said that his company was interested in "any kind of natural minerals: tin, coal, gold, silver, glina" and mentioned that investments could be $ 10-500 mln.
During the presentation of Saylesh's investment projects, Lahu Hiranandani was keenly interested in everything. He came to the Far East for a reason. And what amazed me - and this is the second. Some of the top managers and managers who presented the projects could not - think about it - satisfactorily answer the questions of a potential investor. And Mr. Hiranandani's questions were not in the eyebrow, but in the eye.
First Deputy Executive Director of JSC "Khabarovsk airport" Elvira Vanyushkina, he said: "You have in your presentation the sources of financial resources - own funds, investment fund, borrowed funds". "What does it mean?" He asked. That's how it looked in the picture (admire at the same time the future passenger terminal of Khabarovsk - it's sometime before dawn):
The question meant, if I'm not confusing anything, literally the following - does the project already have sources of funds? “There are various ways of investment: our own, borrowed, we work with the Far East Development Fund,” said Elvira Vanyushkina. Meanwhile, as follows from the presentation, the airport is still looking for investors: “Partners we are looking for: Direct investors, Investment banks and funds, Developers, Profile operators”. The President of Sram & Mram admitted that the project is interesting for his company, and it can act as one of the funds that will finance it.
The executive director of Sakhatrans, Vladimir Shiyanov, told how the company is building a terminal worth $ 450 million (and has already invested $ 80 million) to export 2019 million tons of coal by 12. "What kind of coal?" Mr. Hiranandani asked. “Mainly coking coal for metallurgy, and it is considered as the main one. There is also the possibility of supplying thermal coal, ”he was told. "And what is the calorie content?" - Mr. Hiranandani did not lag behind. “A specific question. Sufficient for metallurgists. In my opinion, about 3500 Kcal / kg, ”the Sakhatrans representative said not very confidently. And only when the next initiator of the project spoke, he wedged himself into someone else's presentation and specified: 5700-6000 per kg.
The head of Sram & Mram put a lot of questions to Roman Romanovsky, Director of Investment and Business Development of UK RFP Group LLC. The conversation was in English. The parties found out what is the structure of the export and which rocks prevail: soft or hard.
Saylesh Lahu Hiranandani asked a question and the director for work with the residents of the Avangard Industrial Park Daniil Melnikov (also spoke English): how much will it cost to rent a hectare in your industrial park? I wanted to compare with Asian prices. But Daniel explained that it would not be possible to just take and rent it - you need to buy it.
Yuri Chaika had to get involved in order to explain: renting land plots costs very differently. Land for agriculture, for example, will cost in the Khabarovsk Territory only $ 4 per hectare. The head of Sram & Mram was very surprised. “If the land is used in good faith, the contract is automatically renewed. After three years of flawless use, you can redeem for 15% of the cadastral value, ”said Yuri Chaika. But in the center of Khabarovsk, he added, rent can cost 20 million rubles. per hectare per year.
Interest was also aroused by the message of Igor Vasko, General Director of Khabarovsk Shipyard JSC: the plant proposed to consider a project for the construction of motor boats. “With the production of 1 boats a year, the payback period will be in the region of 5 years,” the shipbuilder said, but did not disclose any details. “We are now starting a water taxi project in the Maldives,” the president of Sram & Mram perked up. “It just fits the water taxi. You can make ships with a capacity of 5 passengers, ”said the shipbuilder. "How about 50?" - "It's all real." - "Let's get in touch."
But Varvara Kravtsova, manager for support of key investment projects of Office Center LLC, put the cherry on top of the cake. The very same skyscraper, which should appear on Kalinin Street, is now undergoing geological surveys. (By the way, a chain of luxury hotels may be registered in a skyscraper Carlton - With her signed an agreement, said Mrs. Kravtsova. Previously, it was only about Radisson, and this site is designated specifically for this brand).
Silesha Lahu Hiranandani tried for several minutes to find out from Varvara the cost of construction - not the total required investments (8,7 billion rubles), namely the cost of building a "square". But Varvara could not answer the question. "Now I can not," she apologized.
“I just wanted to find out on what basis you calculated the investment. The amount is there, but you didn’t show how you calculated it, ”said the President of Sram & Mram. “So far, the concept is only. When they carry out all the necessary investigations, it will be clear, ”said Yuri Chaika.
I thought the head of Sram & Mram was upset.
And the initiator of the project, I think, is not enthusiastic.
But it was not necessary to send simple managers, even English speakers, to a meeting with millionaires.