appendix - risk and return analyses in project financing - selected cases in vietnam

8/13/2019 Appendix - RISK AND RETURN ANALYSES IN PROJECT FINANCING - SELECTED CASES IN VIETNAM

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APPENDIX A

Table A3.1 Investment by countries, Jan 1994 to Dec 1, 1994 (US$ million)

ountry ! Investment, "#$ %e&al ca'ital, "#$

1 Hong Kong 45 516.00 220.30

2 Singapore 26 512.20 225.40

3 Japan 26 327.60 174.20

4 Taiwan 48 320.00 167.10

5 So!" Korea 41 25#.70 105.50

6 Swi!elan% 5 235.80 114.20

7 US& 1# 221.70 #7.10

8 'rane 17 14#.30 53.50

# ala*+ia 10 121.70 52.70

10 T"ailan% 14 110.#0 60.00

11 ,erm%a 3 70.40 17.40

12 -e!"erlan% 5 45.10 27.80

13 &+!ralia # 41.70 24.30

14 ana%a 2 26.00 26.00

15 /anmar 1 24.30 1#.70

16 !"er+ 30 103.70 56.50

Total 3(1 3,()*.1( 1,441.+(

Sore S 1##4


2/29

Table A3. Investment by countries, Jan 19)) to Dec 1, 1994 (US$ million)

ountry ! Investment, "#$ %e&al ca'ital, "#$

1 Taiwan 148 1853.80 883.40

2 Hong Kong 163 14#5.50 715.00

3 Singapore 74 #6#.50 468.70

4 So!" Korea #1 855.70 378.70

5 Japan 6# 6#0.80 484.00

6 &+!ralia 43 676.#0 272.80

7 ala*+ia 32 577.50 304.70

8 'rane 58 540.70 267.70

# -e!"erlan% 15 350.00 311.10

10 Uni!e% King%om 15 345.00 30#.70

11 ,ri!i+" irgin +lan% 8 262.50 111.40

12 Swi!elan% 11 244.60 121.#0

13 US& 25 225.10 100.50

14 T"ailan% 40 224.80 140.00

15 ,erm%a 5 164.#0 85.#0

16 !"er+ 2## 263#.40 1365.30

Total 94) 1(,*.9( -,43+.4(

Sore S 1##4

-76-


3/29

WEST LAKE DEVELOPMENT COMPANY LIMITEDCommunication Channels

(fo Po!ect " Constuction Mana#ement$

%i#ue A&'

LocalContactos

LocalContactos

Local Achitect(CDIH)

Local Achitect(CDIH)

StuctuealEn#inees

StuctuealEn#inees

Desi#n Team Mem)es

* J Roger Preston

*DTC Formwork Consultant

Desi#n Team Mem)es

* J Roger Preston

*DTC Formwork Consultant

*se +e,esentati-e

(Allan Tan of Liang Court Regenc)

*se +e,esentati-e

(Allan Tan of Liang Court Regenc)

West La.e Site Mana#e

(!r" # $ Low)

West La.e Site Mana#e

(!r" # $ Low)Inteio Desi#neInteio Desi#ne

Po!ect Mana#e " /ualit0Su,e-iso

(%imon Lee &f LiangCourt'elon)

Po!ect Mana#e " /ualit0Su,e-iso

(%imon Lee &f LiangCourt'elon)

Sam Chong in Hanoi will assist inthe communication with HRDC

O1nes2 +e,esentati-e

(Cea %eau)

O1nes2 +e,esentati-e

(Cea %eau)

3ousin# +eno-ation " De-elo,ment Com,an0

(+oar of Directors)

3ousin# +eno-ation " De-elo,ment Com,an0

(+oar of Directors)Pim1ell In-estments Pte Lt4

(+oar of Directors)

Pim1ell In-estments Pte Lt4

(+oar of Directors)

Desi#n Team Lea4e

(Furuici , Associates)

Desi#n Team Lea4e

(Furuici , Associates)


4/29

Table A4.1 aster /u0&et or 2est %ae #ervice A'artments Develo'mentProect

Items "#$ Total

1 P5E6P57JET'ea+iili!* +!%* preliminar* %e+ign+ 65000

an% learing +oil !e+! ene 1#0000

9i!+ an% en!er!ainemen! 7000

9rong reaing eremon* 18000

:en!al on oie an% apar!men!+ 1#000

Tra;el !ran+por!a!ion #0000

Telep"one aon!ing pe!!* ea!er ? power +*+!em %e+ign 42000

n!erior %e+ign 75000

on+!r!ion +!r!re 10000

oal ar"i!e! 50000

Tran+por!a!ion 30000

#ubtotal 4(+,(((

-78-


5/29

Table A4.1 aster /u0&et or 2%#AD Proect (on!ine)

Items "#$ Total

5 788IE IN 7N#T5"TI7N #ITE

Salar* or +per;i+or+ ler+ 75000

Tra;el !ran+por!a!ion 1#000

ie e=ipmen! 11000

Teleommnia!ion +eri!* 25000

#ubtotal 13(,(((

6 7N#T5"TI7N

Srae learing on%a!ion wor

an% main on+!r!ion wor 1811000

'ini+" wor 400000

>a!er ? power +*+!em 12#7000

Swimming pool !enni+ or! o!"er 104000

@repara!ion wor ? on!igenie+ 440000

#ubtotal 4,(-,(((

7 ATE5IA%#, E


6/29

Table A4. E='enses or 2est %ae #ervice A'artments Develo'ment

Items "#$ Total

1 PRE-PROJECT (1/10/1992-31/7/1993)

'ea+iili!* +!%* preliminar* %e+ign+ 65000an% learing +oil !e+! ene 1#0000

9i!+ an% en!er!ainemen! 113000

9rong reaing eremon* 18000

:en!al on oie an% apar!men!+ 1#000

Tra;el !ran+por!a!ion #0000

Telep"one aon!ing pe!!* e


7/29

Table A4. E='enses or 2%#AD (on!ine)

Items "#$ Total

5 OFFICE IN CONSTRCTION SITE

Salar* or +per;i+or+ ler+ 75000

Tra;el !ran+por!a!ion 1#000

ie e=ipmen! 11000

Teleommnia!ion +eri!* 25000

Subtotal 13(,(((

6 CONSTRCTION

Srae learing on%a!ion wor

an% main on+!r!ion wor 1811000

'ini+" wor 400000

>a!er ? power +*+!em 1170000

Swimming pool !enni+ or! o!"er 104000

@repara!ion wor ? on!igenie+ 440000

Subtotal 3,9-,(((

7 E"IP#ENT

&par!men!+ (US$ 24000B60 ni!+) 1440000

:eep!ion longe room+ 12000

Subtotal 1,4-,(((

8 PRE-INAGRATIONTelep"one+ +*+!em

&on!ing +*+!em

Traning

Tra;el

&%;er!i+men!

Subtotal 9*,(((

TOTA$ %E&E$OP#ENT COST +,(49,(((

-81-


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Table A4.3 Proecte0 Income #tatement (on%!e% in ea+iili!* +!%*)

1 3 45evenue

:1 :e;ene romapar!men!+ 2061000 25#6860 3181154 3817384

:2 :e;ene rom +er;ie+ 515250 64#215 7#5288 #54346: Total R''u' 2576250 3246075 3#76442 4771730

E='ensesA1 A


9/29


10/29

Table 4.3 Proecte0 Income #tatement (on!ine ...)

1( 11 1 13 14 1-

:1 5755117 6042873 6345017 6662268 6##5381 7345150:2 143877# 1510718 1586254 1665567 1748845 1836288: 71#38#7 75535#2 7#31271 8327835 8744226 #181438

A1 863268 #06431 #51753 ###340 104#307 1101773A2 863268 #06431 #51753 ###340 104#307 1101773A3 #7680 107448 107448 107448 107448 107448A4 #768 10745 10745 10745 10745 10745A5 287756 302144 317251 333113 34#76# 367258A6 5400 5400 5400 5400 5400 5400A7 17#847 188840 1#8282 2081#6 218606 22#536

A8 71#3# 75536 7#313 83278 87442 #1814A# 143878 151072 158625 166557 174885 18362#A10 143878 151072 158625 166557 174885 18362#A11 143878 151072 158625 166557 174885 18362#A12

A13 547171 547171 547171 547171 547171 547171A14 230205 241715 253801 2664#1 27#815 2#3806A15 287756 302144 317251 333113 34#76# 367258A 38756#1 4047220 4216042 43#3306 457#433 4774867

9@ 3318206 3506372 371522# 3#34528 41647#3 4406571

T@ 63045# 666211 7058#3 747560 7#1311 837248&:A 165#10 17531# 185761 1#6726 208240 22032#/ 2521836 2664843 2823574 2##0242 3165243 3348##4

/- 756551 7##453 847072 8#7072 #4#573 10046#8- 720064 762#66 810585 860585 #13086 #68211

/': 1765285 18653#0 1#76502 20#316# 2215670 23442#6T: 123570 130577 138355 146522 1550#7 164101': 1641715 1734813 1838147 1#46647 2060573 21801#5

9 7#0516 833275 880736 #3056# #828#5 1037836 65.07D 65.84D 66.#7D 68.06D 6#.12D 70.14D' 306#008 3212014 3370745 3537413 3712414 38#6165

' 21081424

242#3438

27664183

312015#6

34#14010

38810175

-84-


11/29


12/29

Table 4.3 Proecte0 Income #tatement (on!ine ...)

1 3 4 -

:1 #843204 10335364 10852132 113#473# 11#64476:2 2460801 2583841 2713033 2848685 2##111#: 12304005 12#1#205 13565165 14243424 14#555#5

A1 1476481 1550305 1627820 170#211 17#4671A2 1476481 1550305 1627820 170#211 17#4671A3 12#530 12#530 12#530 12#530 12#530A4 12#53 12#53 12#53 12#53 12#53A5 4#2160 516768 542607 56#737 5#8224A6 5400 5400 5400 5400 5400A7 307600 322#80 33#12# 356086 3738#0

A8 123040 12#1#2 135652 142434 14#556A# 246080 258384 271303 284868 2##112A10 246080 258384 271303 284868 2##112A11 246080 258384 271303 284868 2##112A12

A13 174142 174142 174142 174142 174142A14 3#3728 413415 434085 4557#0 47857#A15 4#2160 516768 542607 56#737 5#8224A 5821#14 60#6#0# 6385653 6688835 7007175

9@ 64820#0 68222#6 717#512 755458# 7#48420

T@ 12315#7 12#6236 1364107 1435372 1510200&:A 324105 341115 358#76 37772# 3#7421/ 4#2638# 5184#45 545642# 5741488 60407##

/- 1477#17 1555484 1636#2# 1722446 1812240- 1441430 1518##7 1600442 1685#5# 1775753

/': 3448472 362#462 381#500 401#041 422855#T: 2413#3 254062 267365 281333 2#5###': 320707# 33753## 3552135 3737708 3#32560

9 150#477 1586786 1667#5# 17531#2 1842686 84.62D 85.04D 85.45D 85.84D 86.21D' 5100530 535#087 5630571 5#1562# 6214#41

' 66441020 71800106 77430677 83346306 8#561247

-86-


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Table A4.4 Estimate0 Income #tatement (on%!e% eore opera!ion)

;ear 1 ;ear ;ear 3

5evenue

:1 :e;ene rom apar!men!+ 2700000 3402000 4167450:2 :e;ene rom +er;ie+ 675000 850500 1041863: Total R''u' 3375000 4252500 520#313

E='ensesA1 A


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Table A4.4 Estimate0 Income #tatement (on!ine ...)

;ear 4 ;ear - ;ear * ;ear + ;ear ) ;ear 9

:1 5000#40 5#07360 6202728 6512865 6838508 7180433:2 1250235 1476840 1550682 1628216 170#627 17#5108: 6251175 7384200 7753410 8141081 8548135 8#75542

A1 750141 886104 #3040# #76#30 1025776 1077065A2 750141 886104 #3040# #76#30 1025776 1077065A3 88800 88800 #7680 #7680 #7680 #7680A4 8880 8880 #768 #768 #768 #768A5 250047 2#5368 310136 325643 341#25 35#022A6 5400 5400 5400 5400 5400 5400A7 15627# 184605 1#3835 203527 213703 22438#

A8 62512 73842 77534 81411 85481 8#755A# 125024 147684 155068 162822 170#63 17#511A10 125024 147684 155068 162822 170#63 17#511A11 125024 147684 155068 162822 170#63 17#511

A12 450000 450000A13 547171 547171 547171 547171 547171 547171A14 200038 2362#4 24810# 260515 273540 287217A15 250047 2#5368 310136 325643 341#25 35#022A 38#4527 4400#8# 41257#4 42##083 4481036 4672087

9@ 2356648 2#83211 3627617 3841##8 40670## 4303455

T@ 447763 566810 68#247 72##80 77274# 817656&:A 117832 14#161 181381 1#2100 203355 215173/ 17#1053 2267241 2756#8# 2#1##1# 30#0##5 3270626

/- 537316 680172 8270#7 875#76 #272## #81188

- 50082# 643685 7#0610 83#48# 8#0812 #44701

/': 1253737 1587068 1#2#8#2 2043#43 21636#7 228#438T: 87762 1110#5 1350#2 143076 15145# 160261': 1165#75 1475#74 17#4800 1#00867 2012238 212#178

9 572012 7143#2 860827 #0#543 #606#5 1014404 45.##D 51.52D 66.82D 67.#2D 68.#8D 70.00D' 2338224 2814412 3304160 34670#0 3638167 38177#7

' 7011784 #8261#6 13130356

165#7447

20235613

24053411

-88-


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;ear 1( ;ear 11 ;ear 1 ;ear 13 ;ear 14

:1 753#455 7#16428 831224# 8727862 #164255:2 1884864 1#7#107 2078062 2181#65 22#1064: #42431# #8#5535 103#0312 10#0#827 1145531#

A1 1130#18 1187464 1246837 130#17# 1374638A2 1130#18 1187464 1246837 130#17# 1374638A3 #7680 107448 107448 107448 107448A4 #768 10745 10745 10745 10745A5 376#73 3#5821 415612 4363#3 458213A6 5400 5400 5400 5400 5400A7 235608 247388 25#758 272746 286383

A8 #4243 #8#55 103#03 10#0#8 114553A# 188486 1#7#11 207806 2181#7 22#106A10 188486 1#7#11 207806 2181#7 22#106A11 188486 1#7#11 207806 2181#7 22#106

A12A13 547171 547171 547171 547171 547171A14 301578 316657 3324#0 34#114 366570A15 376#73 3#5821 415612 4363#3 458213A 48726#0 50#4068 5315233 5547457 57#12#2

9@ 455162# 4801467 5075078 5362370 5664027

T@ 864810 #1227# #64265 1018850 1076165&:A 227581 240073 253754 26811# 283201/ 345#238 364#115 385705# 4075401 4304660

/- 1037771 10#4734 1157118 1222620 12#13#8

- 1001284 1058247 1120631 1186133 1254#11

/': 2421467 2554380 26###42 2852781 3013262T: 16#503 178807 188##6 1##6#5 210#28': 2251#64 2375574 2510#46 2653086 2802334

9 10707## 1127572 118#748 1255032 1323580 70.##D 71.63D 72.57D 73.46D 74.33D' 400640# 41#6286 4404231 4622573 4851832

' 2805#820 32256106 36660337 41282#10 46134742

-89-


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;ear 1- ;ear 1* ;ear 1+ ;ear 1) ;ear 19 ;ear (

:1 #622468 101035#1 10608770 1113#20# 116#616# 12280#78:2 2405617 25258#8 26521#3 2784802 2#24042 3070244: 1202808

41262#48

#13260#6

313#2401

11462021

21535122

2

A1 1443370 151553# 15#1316 1670881 1754425 1842147A2 1443370 151553# 15#1316 1670881 1754425 1842147A3 107448 1181#3 1181#3 1181#3 1181#3 1181#3A4 10745 1181# 1181# 1181# 1181# 1181#A5 481123 505180 53043# 556#60 584808 61404#

A6 5400 5400 5400 5400 5400 5400A7 300702 315737 331524 348100 365505 383781A8 120281 1262#5 132610 13#240 146202 153512A# 240562 2525#0 26521# 278480 2#2404 307024

A10 240562 2525#0 26521# 278480 2#2404 307024A11 240562 2525#0 26521# 278480 2#2404 307024A12A13 547171 547171 547171 547171 547171 547171A14 3848## 404144 424351 445568 467847 4#123#A15 481123 505180 53043# 556#60 584808 61404#A 6047318 6327#65 6610234 6#06617 7217818 7544580

9@ 5#80767 6301524 665072# 70173#5 74023#4 7806643T@ 1136346 11#72#0 126363# 1333305 1406455 1483262&:A 2##038 315076 332536 350870 370120 3#0332

/ 4545383 478#158 5054554 5333220 562581# 5#33048

/- 1363615 1436747 1516366 15###66 1687746 177##14- 1327128 1400260 147#87# 156347# 165125# 1743427

/': 3181768 3352411 3538188 3733254 3#38073 4153134T: 222724 23466# 247673 261328 275665 2#071#': 2#5#044 3117742 32#0515 3471#26 3662408 3862414

9 13#5556 1468445 15477## 1631120 1718607 1810468

75.16D 75.68D 76.47D 77.22D 77.#4D 78.64D' 50#2554 533632# 5601726 58803#1 6172##1 6480220' 512272#

65656362

56216535

16804574

27421873

3806#8#5

2

-90-


17/29


;ear 1 ;ear ;ear 3 ;ear 4 ;ear -

:1 128#5027 1353#778 14216767 14#27605 15673#86:2 3223757 3384#45 35541#2 3731#01 3#184#6: 16118784 16#24723 17770#5# 1865#507 1#5#2482

A1 1#34254 2030#67 2132515 223#141 23510#8A2 1#34254 2030#67 2132515 223#141 23510#8A3 12#530 12#530 12#530 12#530 12#530A4 12#53 12#53 12#53 12#53 12#53A5 644751 676#8# 710838 746380 7836##A6 5400 5400 5400 5400 5400A7 402#70 423118 444274 466488 48#812

A8 161188 16#247 177710 1865#5 1#5#25A# 322376 3384#4 35541# 3731#0 3#1850A10 322376 3384#4 35541# 3731#0 3#1850A11 322376 3384#4 35541# 3731#0 3#1850

A12A13 174142 174142 174142 174142 174142A14 515801 5415#1 568671 5#7104 626#5#A15 644751 676#8# 710838 746380 7836##A 7527120 7887375 8265643 8662824 #07#864

9@ 85#1663 #037347 #505316 ###6683 10512618

T@ 1632416 17170#6 1806010 18##370 1##73#7&:A 42#583 451867 475266 4##834 525631/ 652#664 6868384 7224040 75#747# 7#8#5#0

/- 1#588## 2060515 2167212 227#244 23#6877

- 1#22412 2024028 2130725 2242757 23603#0

/': 4570765 480786# 5056828 5318235 55#2713T: 31##54 336551 353#78 372276 3#14#0': 4250811 4471318 4702850 4#45#5# 5201223

9 1#88857 20#0134 21#6475 2308133 2425374 86.75D 87.08D 87.40D 87.70D 87.##D' 6703806 7042526 73#8182 7771621 8163732

' 87402758 #4445283 101843465 10#615086 117778817

-91-


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Table A-.1 aster bu0&et or T>uy Tien Develo'ment Proect

Iterms Descri'tion ost ost(-/) (US$)

1. P5E67N#T5"TI7N

F &r"i!e! ? on+!r!ion %e+ign 10000000 #0#.0#F n!erior %e+ign 2000000 181.82

F on+!r!ion permi! ? rele;an! ee+ 7000000 636.36

F @repara!ion ? 9ron%reaing eremon* 2000000 181.82

F an% learing an% ompen+a!ion 30000000 2727.27

#ubtotal -1,(((,((( 4,*3*.3*

. 7N#T5"TI7N

F @repara!ion on%a!ion wor 100000000 #0#0.#1

F ain on+!r!ion wor 400000000 36363.64

F >a!er an% power +ppl* +*+!em 55000000 5000.00

F on+!r!ion omple!ion 6000000 545.45

F @repara!ion or ini+"ing 2500000 227.27

#ubtotal -*3,-((,((( -1,+.+

3. E:ANIA% AND E%ET5IA% 275?#

F Single +pli!e air on%i!ioning ni! 130000000 11818.18

F Telep"one+ 32000000 2#0#.0#

F Aa!er an% power +ppl* on!ra! 4500000 40#.0#

F >a+"ing leaning %eora!ing pain!ing 1500000 136.36

F nagra!ion eremon* 4000000 363.64

#ubtotal 4-,(((,((( 4,(9(.91

T7TA% )4(,*((,((( +*,41).1)

-92-


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Table A-. E='enses or T>uy Tien Proect

Iterms Descri'tion ost ost(-/) (US$)

1 PRE-CONSTRCTIONF &r"i!e! ? on+!r!ion %e+ign 10100000 #18.18

F n!erior %e+ign 2000000 181.82

F on+!r!ion permi! ? rele;an! ee+ 7700000 700.00

F @repara!ion ? 9ron%reaing eremon* 2200000 200.00

F an% learing an% ompen+a!ion 30000000 2727.27

#ubtotal -,(((,((( 4,++.+

2 CONSTRCTION

F @repara!ion on%a!ion wor ##000000 #000.00

F ain on+!r!ion wor 3#6000000 36000.00F >a!er an% power +ppl* +*+!em 56400000 5127.27

F on+!r!ion omple!ion 6600000 600.00

F @repara!ion or ini+"ing 2200000 200.00

#ubtotal -*(,((,((( -(,9+.+

3 #ECHANICA$ AN% E$ECTRICA$ 4OR5S

F Single +pli!e air on%i!ioning ni! 132000000 12000.00

F Telep"one+ 32000000 2#0#.0#

F Aa!er an% power +ppl* on!ra! 4500000 40#.0#

F >a+"ing leaning %eora!ing pain!ing 1800000 163.64

F nagra!ion eremon* 4200000 381.82

Fi++ileneo+ 10825000 #84.0#

#ubtotal -4,(((,((( 4,9(9.(9

TOTA$ )-(,(((,((( ++,+.+3

-93-


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Table A-.3 Proecte0 Income #tatement (T"* Tien @roGe!)

;ear 1 ;ear ;ear 3 ;ear 4 ;ear -

on!"l* ren!al 4000.00 4200.00 4410.00 4630.50 4862.03:en!al inrea+e 5.00D 5.00D 5.00D 5.00D 5.00DSalar* ra!e 1.00 1.12 1.25 1.40 1.57

RE&ENE

5ental 5evenue 48000.00

50400.00

52#20.00

55566.00

58344.30

TA

5ental Ta= @31B 14880.00

15624.00

16405.20

17225.46

18086.73

EPENSES

Ale!rii!* 3600.00 3600.00 3600.00 3600.00 3600.00>a!er 648.00 648.00 648.00 648.00 648.00Telep"one 4#57.0# 4#57.0# 4#57.0# 4#57.0# 4#57.0#Salar* 1527.27 1710.55 1#15.81 2145.71 2403.1#ain!enane #60.00 1008.00 1058.40 1111.32 1166.8#

Total e='enses 116#2.36

11#23.64

1217#.30

12462.12

12775.17

%EPRECIATION 6#7#.0# 6#7#.0# 6#7#.0# 6#7#.0# 6#7#.0#

INTEREST 5#54.55 275#.0# 545.45 0.00 0.00

NI ),494.(( 13,114.1)

1*,)1(.9-

1),)99.33

(,-(3.31

-94-


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APPENDIX /

8i&ure /1 6 Investment by sector (Janar* 1##4 !o /eemer 1 1##4)

Service

Hotels & Tourism

Agro-ForestryLight Industry

EPZ

Oil & Gs

Hevy Industry

!n"ing & Finnceless thn #$

Agro-%roducts

ulture' Helth & Eductiononstruction

Telecom & Post

(#$

()$

*$#+$

#$

($

#($

($

#$#($

,$

Sore S 1##4

Table / 6 8orei&n ban branc>es in Cietnam(* Jan 1##5)

/an branc>es ountry1 n%o+e 'rane2 ,an=e -a!ionale % @ari+ 'rane3 ,an=e 'ranai+e % ommere A

# S!an%ar% "a!ere% ,an ,ri!ainSore ie!nam n;e+!men! :e;iew 1##5

-95-


22/29

8i&ure /3 6 T>e lea0ers (in;e+!men! * on!r* 1C1C1#88F1C12C1##4) in miilionUS$

Sore S 1##4

-96-


23/29


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&. Who usually obtain loans from your bank 'ith fa%orable terms?

9o;ernmen! organia!ion+ -onFgo;ernmen! organia!ion+@li ompanie+ @ri;a!e ompanie+nl* oreign in;e+!or+ !"er IIIIIIIIIIIIIIIIIIIIIII. as your bank e%er $rante loans for otel projects locate in anoi? *f yes,'hich?

+. as your bank e%er participate financin$ of hotel projects in anoi area? *f yes,'hich?1

. *s risk an return analysis consiere in your bankin$ acti%ities?

e+ Some!ime -o1-. What kins of risk are taken in your consieration most urin$ financin$ ofprojects ( *f any, please, rank)?

Develo'ment '>ase onstruction '>ase 7'eratin& '>ase,i% ri+ @oli!ial ri+ @oli!ial ri+re%i! ri+ A


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e+! ae /e;elopmen! o. !%. i+ in a! a Ser;ie &par!men!+@roGe! inane% mainl* * oreign in;e+!or F @:&>A -ASTA-TS@TA. T/. (Singapore). >e are in!ere+!e% in *or on+i%era!ion+ regar%ing!"e inaning o !"i+ proGe!.

1. o' much time ha%e you spent for the sur%ey on the eman an supply of hotelser%ices in anoi before you ecie to finance this project?

e++ !"an 3 mon!"+ 3 F 6 mon!"+6 F 12 mon!"+ ore !"an 12 mon!"+2. a%e you selecte your partner throu$h8

S!a!e ommi!!ee or oopera!ion an% n;e+!men! (S)@li on+l!an! &gen*@ri;a!e on+l!an! &gen*or own rela!ion+"ip!"er IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII3. Who are major shareholers in your sie?

#>are>ol0ers #>ares

subscribe0

Amount 'ai0

u'"#D

Percenta&e

>ol0in&&

,

/

...Total

-99-


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!. Which banks ha%e $rante loans for financin$ of this project?

%en0ers Ty'e oloan

Amountlen0e0

"#D

Nominalinterest rate@, annualB

aturity;ears

&

,

/

...Total

Simple in!ere+! loan (S)/i+on! in!ere+! loan (/)n+!allmen! loan wi!" a%%Fon in!ere+! ()Simple in!ere+! loan wi!" ompen+a!ing alane (S)/i+on! in!ere+! loan wi!" ompen+a!ing alane (/)!"er () IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII#. 6ther partners in%ol%e in this project financin$?

Spplier+

on!ra!or+

+!omer+

!"er

&. o' much 'as the cost estimation before the construction of the project?

.....................................................................................US/

. Woul you please, pro%ie your financin$ plan?

,eore +!ar!ing on%a!ion wor ........................................................US/

'or !"e ir+! 2 mon!"+ o on+!r!ion ................................................US/'or !"e ne


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+. o' much is total real in%estment (re$arless ri$ht of lan use)?

.....................................................................................US/

. What is the a%era$e rate of return o you e9pect from in%estment on this project?

1-. What kins of risk are taken in your consieration most urin$ financin$ ofprojects ( *f any, please, rank 1,2, ... )?

Develo'ment '>ase onstruction '>ase 7'eratin& '>ase,i% ri+ @oli!ial ri+ @oli!ial ri+re%i! ri+ A


28/29

5E8E5ENE#

1. &%"iar* U.L ,"o+le eenal :i+Fre!rn &nal*+i+ o !al 'n% 9row!"S"eme+. *nian "ana$ement ol. 33 -o. 8 &g+! 1##4 p48F58.

2. ,a Han Join! en!re ,an+ :ietnam 0conomic 7ime /eemer1##4CJanar* 1##5 p14F15.

3. ,ao &n*oL organ &.L 'lorene .L /eora" /. + ie!nam :eall* :ea%* or,+ine++sia *;. ar" 1##3 p54F60.

4. ,enne!! :. or!onM+ oll* (Aro!nnelM+ inaning reor%) 0uromoney Jne1##3 p5#F63.

5. ,erg+man S!e;en Aonom* Ho!el+ ,il%ing on!ine+ Barron#. "ew >illiam H. nra+!r!re inane "inge+ on re%i! =ali!* an% +!reng!".0;ol. 230 ar" 1##3 p 26.

10. A%war%+ ,. How !o inane proGe!+ in ri+* on!rie+ 0uromoney Janar*1##4 p 86F8#.

11. Hill Jame+ >. @roGe! inaning a;oi%ing +i< weane++e+. 7he =ournal of;ommercial Bank 4enin$;ol. 72 !oer 1#8# p17F22.

12. Jel! &.L rp"* . :eeling in real e+!a!e ri+ Bankers "onthly;ol. 10#Jne 1##2 p30F31.

13. K"ang &on!ing in ie!nam :ietnam 76> ol. 3 ++e 3 1##4p47F48.

14. im ,ee lian ie!namM+ 'inanial +*+!em F "ange+ an% /e;elopmen!:ietnam 76> ol. 3 ++e 3 1##4 p4#F51.

15. oe S!ar! . @roper!* in;e+!men! anal*+i+ +ing a%G+!e% pre+en! ;ale+7he ppraisal =ournal;ol. 58 Jl* 1##0 p 373F8 !a+.

16. a!!oo @. K. Project ppraisal 'ir+! e%i!ion aner n!erna!ional 1#86

17. erre!! &. J. 7he finance an analysis of capital projects 1#76.

18. i"ael ollin+ ie!nam pla*+ oppor!ni!* or gimmiN sianmoney &pril

1##4 p50F51.

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appendix - risk and return analyses in project financing - selected cases in vietnam

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