Japan's Sparx Group boasts $7 billion in assets under management, while Value Partners manages $5.3 billion. The second generation moved into manufacturing truck bodies, industrial insulation materials and air conditioners (in partnership with Fedders Corp.). The CII CEO delegation includes senior industry leaders like Naushad Forbes, President, CII and Co-Chairman, Forbes Marshall Pvt Ltd, Punj Llyod Chairman Atul Punj, Bharat Forge executive director Amit B Kalyani, DCM Chairman and Managing Director Ajay S Shriram and Wipro's Japan head Naohide Takatani. Atul, who admits to being "the brash one in the pack," was keen to study in the U.S. His dad agreed, on the condition that he get married first. Some of his personality traits--a short attention span, a weakness for hectic multitasking between e-mail, phone calls and face-to-face conversations, and an obvious awkwardness when socializing--were apparent from his early days working on a proprietary trading desk at Lazard in London. "We look at the underlying structure, analyzing the company, its cash flow, the business, almost from a private equity viewpoint," he says. "While there are large pools of institutional assets in Asia, only a small portion is outsourced to external managers." "It was bankrupt. His father, Geoffrey Meou-tsen Yeh, is still active on the Hong Kong corporate scene at 78. He uses it extensively to visit Punj's projects in locations as far-flung as Kazakhstan, Libya, Oman and Indonesia. CLAIM TO FAME: Helped launch Value Partners, Asia's second-largest independent asset- management company. It's one of many lessons he's imbibed over an eventful career. Highlights of Forbes Global CEO Conference 2009. Over the next seven years Punj Lloyd built pipelines in India, Indonesia and Malaysia, expanding into building tanks and terminals for petroleum products and then complex cryogenic tanks for liquefied natural gas for clients such as Shell and Enron. According to the list compiled by Forbes, China almost has double the billionaires than India, however, when it comes to the number of private jets, India still beats the former. Working relationship: "He means what he says. (It now is only a fourth the size of Larsen & Toubro.) This includes business generated by Sembawang Engineers & Constructors, the group's Singapore arm, and Simon Carves, its engineering design firm in the U.K., both acquired by Punj Lloyd in 2006. © 2021 Forbes Media LLC. IVRCL is the largest Indian water handling company. (His research shows that a year ago, Asia outside of Japan had $800 billion in externally managed assets, compared with $3 trillion in Japan and more than $6 trillion in the U.S.). When the Punj Group, a leading Indian supplier of air-conditioning and insulation materials, split up in 1989, Atul Punj, then 32 and the third generation in the business, got a piece nobody in his family wanted: a construction outfit with revenues of $2 million and … Atul has set a tall target for Punj: to be among the top five engineering and construction firms by 2012 in the markets in which it operates. Larry Summers Is Wrong About Bidenâs $1.9 Trillion Splurge. If you can afford to move in here, you will have as neighbours jetsetters like Sunil Mittal of Bharti Airtel, Atul Punj of Punj Lloyd and Hari Bhartia of Jubilant Oragnosys. I cover regional corporates and entrepreneurs for Forbes Asia magazine as a contributing correspondent. In June it forged a partnership with Singapore Technologies Kinetics to make defense equipment. Whitney & Co., one of the oldest U.S. venture capital firms, in 1998. In large part due to his ownership of the Yellowstone Club, he had entered the ranks of the Today, after selling part of his holding to Cheah, Yeh owns 18% of the company, Cheah 31%. He was back to being a zero. Features Fullscreen sharing Embed Statistics Article stories Visual Stories SEO. India's sluggish economy at the time and his dire financial straits drove him to look for business outside the country. But by the late 1980s family divisions left him as heir to the construction interests. Again luck and timing worked in his favor as markets like Kazakhstan and Libya opened up, drawing in the world's oil majors. Punj Lloyd. Saraf turned to Yeh and Indian entrepreneur Atul Punj--the chairman and founder of Punj Lloyd, India's second-largest construction and engineering firm--for their money and their knowledge of the region. "We were not trying to emulate anyone or be enticed by the financial rewards. 7. Atul Punj is an Indian businessman who is also the Chairman and Managing Director of Punj Lloyd. It'd be difficult for local managers to compete with global managers, especially if they are purely based on Asian money. For several years his firm, Value Partners, was a bit player on the fringe of the money business, toiling from a small Hong Kong office staffed with one secretary and barely $5 million in funds scratched from family and friends. Falling oil prices and the ongoing global slowdown underscore the challenges for Punj Lloyd. Early on Yeh and Cheah saw the potential in value investing. You may opt-out by, The Singapore Declaration And The Biden Administrationâs Policy Review, China Sports Marketers Have Plenty Of Covid Lessons To Digest Ahead Of Olympics, U.S. SPAC Boom Is Poised To Spread To China, Masayoshi Sonâs Wealth Soars To Record High As SoftBank Shares Zoom, Records Tumble As Commodity Cash Floods The Miners, IMAX Shares Soar On Chinaâs Record New Year Box Office, Tough Choices: Falling Enrollment, COVID Pressure College Cities And Towns, Tin Up 80% Pointing To A Squeeze For Anyone Caught Short. "Asset management is a scale business," says Abhi Shroff of Greenwich Associates, a U.S. financial services consultancy in Stamford, Connecticut. Ten years later Whitney cashed out in Value Partners' initial offering. 8. Jaitley will also meet Osamu Suzuki, Chairman of Suzuki Motor, the biggest Japanese investor in automobile sector in India. In January 2000 Nomura Securities offered to buy Spectranet for $350 million, boosting its offer to $550 million in August. Returns held steady, though. Argyle has produced annual returns in the mid-teens since its inception, with its flagship fund returning $2.40 for each dollar invested on day one. Everything is on the table." A big break came when the firm enlisted two partners from the U.S.: private equity player Holding Capital Group in 1995 and J.H. Favorite table: The one facing the entrance at Hong Kong restaurant Mezz in Central, so he won't miss his guests and vice versa. I'm a member of the Sustainability Advisory Council of Deutsche Post DHL Group. The pipeline was eventually completed two years later but had racked up losses that the group could ill afford. Now Yeh has signed on with Shirish Saraf, the flamboyant founder of Dubai's Abraaj Capital, the Middle East's largest private equity firm. Indeed, Yeh was born into the world of wealth, though not groomed to be a guardian of it. But then the 2008-09 financial crisis nearly halved those assets. But Atul maintains that the oil companies that are Punj's main customers are financially sound. I'm also a founding director of SatyaGyan Foundation, a non-profit that aims to alleviate poverty through education and employment. "From a zero, I became a hero in the family," Atul recounts. V-Nee Yeh (Chinese: 葉維義; born February 14 1959 in Hong Kong) is a businessman and was non-official member of the Executive Council of Hong Kong.He graduated from Milton Academy, cum laude '77; Williams College, BA' 81 Phi Beta Kappa, magna cum laude and Columbia Law School, JD 1984, Harlan Fiske Stone Scholar.He is a co-founder and honorary chairman of Value Partners Group … "When we started Value Partners, there were not as many successes in the industry," says Yeh. Jaitley will leave tomorrow evening to Japan, an official statement ), Japan is an exception. "It is all about networking, about knowing people, in terms of investment ideas and fundraising. To tap into Saudi Arabia's oil and gas sector, Punj Lloyd has forged a joint venture with Dayim, a firm owned by royalty. He inherited Hsin Chong International, once a leading Hong Kong real estate developer that traced its roots to early in the last century. Gurgaon resident Raman Sharma has alleged that land for the 'Medicity Project' was allotted to Trehan, Sunil Sachdeva, Atul Punj and Anant Jain in violation of laws and criminal abuse of public policy, criminal misconduct, and influence by public servants causing pecuniary advantage to private persons, among others, according to the FIR. Previously, I was a staff writer with Forbes, producing stories. Gurgaon resident Raman Sharma has alleged that land for the 'Medicity Project' was allotted to Trehan, Sunil Sachdeva, The Confederation of Indian Industry (CII), the ape It not only operates in India but also in different countries like UAE, Malaysia, Singapore, etc. ", Asia's underdeveloped funds industry--heavy in equities but not in bonds and everything else--deprives managers of the chance to master an array of alternative investment options long available to Western competitors. He easily compensates with strict discipline, frequent bursts of creativity and a reputation for honesty and plain-talking. And the next year he helped start Cheetah Investment Management, one of the first Hong Kong hedge funds known for striking smart partnerships with other fund managers in Hong Kong, South Korea and Japan to invest in domestic stocks. It delivers its services not only to India but also across the world including Middle East, South Asia, and Africa and so on. After 18 months of lobbying, his $5 million bid was finally accepted. I am the Asia Wealth Editor and India Editor of Forbes Asia. The glory was short-lived. Punj Lloyd is another construction company of India which provides variety of services in infrastructure projects such as engineering, integrated design, procurement and construction. Dabbling in politics: Last January was appointed a nonofficial member of the Executive Council, Hong Kong's de facto cabinet. The company has been on a tear, growing revenues and net profits at 40% annually on a compounded basis since 2004. Maintains a strict daily routine: waking up around 4 a.m., having dinner at 6 p.m. and going to bed at 9. As good as it is at generating wealth, Asia has been less proficient at producing fund-management firms to manage it. The CII CEO delegation includes senior industry leaders like Naushad Forbes, President, CII and Co-Chairman, Forbes Marshall Pvt Ltd, Punj Llyod Chairman Atul Punj, Bharat Forge executive director Amit B Kalyani, DCM Chairman and Managing Director …
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