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踏着前辈的脚迹-放弃年薪70万的美国"海龟"

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踏着前辈的脚迹-放弃年薪70万的美国"海龟" -- canucks - (3429 Byte) 2007-11-16 周五, 05:12 (3157 reads)

Newfie
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标题: this is the summary of IFC's Anjia project from IFC website. (577 reads) 时间: 2007-11-17 周六, 08:36

作者：Newfie 在海归商务发贴, 来自【海归网】 http://www.haiguinet.com

A friend of mine's company also got a $20 mil funding from IFC last year. My understanding is that IFC's fundings are mostly to support 3rd world countries for their development.

this is the anjia project summary:

Summary of Project Information (SPI)

This Summary of Project Information is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 20096
Project name Anjia
Country China
Sector Finance & Insurance
Department Global Financial Markets Group
Company name Anjia Group Holdings
Environmental category C
Date SPI disclosed March 6, 2003
Projected board date April 8, 2003
Status Completed
Previous Events Invested: June 25, 2004
Signed: February 19, 2004
Approved: June 19, 2003

--------------------------------------------------------------------------------

Description of company and purpose of project
Description of Company
The AnJia Group (AnJia or the group) was established in January, 2000 and currently comprises of three operating entities namely, AnGage Real Estate Service Company, which is engaged in residential mortgage origination and servicing, AnJia Info Tech Limited which produces real estate related software and AnLian Info which is a portal and internet services company. AnGage has become the core operating entity within the AnJia Group.

Purpose of Project:
With the recent privatization of the housing sector in Shanghai, the home resale market has grown rapidly. Banks engaged in housing finance do not have the retail network capability to process the large volumes of mortgages in demand. In addition, the lengthy administrative procedures involved in deed transfer and collateral registration delay the release of funding and stifle the market growth. AnJia's participation in the market as an independent and neutral brokerage intermediary would allow the banks to focus on what they do best - make credit decisions - and outsource the laborious administrative aspects of origination, underwriting and servicing to a focused, specialized, and therefore more efficient brokerage entity - AnJia - thus enabling continued rapid growth in the industry. However, for AnJia to succeed and thrive in its role, it needs to expand its operations and develop its staff and systems. Therefore the group has approached IFC for an equity investment to achieve this aim.

More specifically, the AnJia Group would use the funds from the proposed IFC investment to:
strengthen its mortgage origination and servicing capability by acquisition and by expanding its physical retail outlets network;
attract the qualified high calibre staff needed to support the rapid growth of the business, specifically to train and develop individual qualified mortgage brokers who will form the backbone of its retail mortgage servicing network;
overhaul its processing systems to increase capacity and improve information access and reliability; and
develop the AnJia brand and position the company as the leading mortgage originator and servicer in Shanghai.

Project sponsor and major shareholders of project company
The key sponsor of the project is Mr. Alan (Xu Dong) Zhang, the founder, Chairman and CEO of the AnJia Group. Mr. Zhang, a dynamic and enterprising former investment banker, is the majority shareholder of the the group. Other shareholders of AnJia include management, Technology Development Fund of Singapore (TDF), and Shanghai Venture Capital Corporation (SVCC).

Mr. Zhang has extensive experience in business development, investment banking and finance. Prior to founding the AnJia Group, Mr. Zhang was the Managing Director of International Capital Services and subsequently the Managing Director for Greater China and CFO of the Asia-Pacific Region for Koch Industries, Inc. Before that, he was Vice President of Corporate Finance with the First National Bank of Boston. He also worked as Senior Investment Analyst in the Private Placement Department of New England Mutual Life Insurance Company of Boston. Mr. Zhang has a master’s degree in economic development and is well respected in the Shanghai business circles and is backed by a strong management team.

Total project cost and proposed IFC investment
The project cost of $10 million will be funded by the proposed equity investment of up to $10 million by IFC for its own account. AnJia may seek additional investment over the medium term to further expand its operations as necessary.

Location of project and description of site
IFC’s investment will be made at the offshore holding company level. The operating companies funded by the proceeds of the investment will be based in the People’s Republic of China. AnJia’s operating companies are headquartered in Shanghai.

Project Development Impact and IFC's Role
Development Impact
The proposed project will promote efficiency in the housing finance market by backing the development of an intermediary specializing in mortgage origination and servicing. Focus and specialization on origination and servicing will shorten mortgage processing times, reduce costs, and hence improve efficiency. The venture will also facilitate faster growth in the home resale market and help promote private home ownership, thereby encouraging transfer of housing assets to the private sector. These assets can be used as collateral in the future, therefore the project will help in broadening access to private sector led financial services. The investment is also expected to have a demonstration effect on other similar players improving mortgage asset quality and introducing discipline in the housing finance market as a whole. Also, by standardizing the origination and mortgage servicing processes, the project will facilitate new entry by banks to the housing finance market, enable existing banks to expand mortgage lending, and also set the stage for secondary mortgage market development. Finally, the creation of an efficient large scale mortgage origination and servicing industry will facilitate the eventual entry of non-banking financial institutions in the housing market.

IFC Role
IFC backing will substantially enhance AnJia's financial standing, its credibility in the financial sector and among customers and regulators. IFC backing will also assist the company in attracting the high calibre professionals it needs to drive its expected rapid growth and development. IFC's support is especially important during the company's early stages of development, where it will need assistance in building the necessary institutional and corporate governance structures to establish a solid foundation for future growth and business sustainability. Over the longer term, IFC’s participation in AnJia’s growth and development positions IFC to assist, by way of technical assistance, in the development of uniform standards in mortgage origination and servicing, setting the stage for secondary market development.

Environmental and social issues - Category C
This is a Category C project, according to IFC's Procedure for Environmental and Social Review of Projects, because it is likely to have minimal or no adverse environmental impacts.

To contact the project company, please write to:
Mr. Alan Zhang, Chief Executive Officer
AnJia Group
6th Floor, The Bund Center
222 East Yan An Road
Shanghai, PRC 200002
Phone: (86-21) 6335-1000

https://www.ifc.org/ifcext/spiwebsite1.nsf/2bc34f011b50ff6e85256a550073ff1c/5fd4ace99a82eec385256ce1007f1b3a?opendocument

作者：Newfie 在海归商务发贴, 来自【海归网】 http://www.haiguinet.com

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