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17 March 2016 -  Interveiw of Elena Trofimova, CEO of ICDI, on AFF in Jan 2016, Hong Kong

 

 

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20 January 2016 -  ICDI took part in the Asian Financial Forum 2016 in Hong Kong

For the fourth year in a row ICDI takes part in the annual Asian International Financial Forum in Hong Kong. Once again ICDI became the only participant with a booth to represent the Russian Federation.

Asian Financial Forum has been held for the ninth year and welcomed more than 2,800 leaders, including professional investors, finance experts and CEOs, high net-worth individuals from 38 countries. In 2016 AFF featured such respected politicians as Mr. Liu Zhenmin, Deputy Minister of Foreign Affairs of China, Mr. Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation, Dr. Ben S. Bernanke, chairman of the US Federal Reserve System (2006 -2014).

This ICDI has represented to investors a large-scale infrastructure project devoted to the development of Russian regions passing along the New Silk Road which is consonant with the key in the latest 3 years concept put forward by China, - "One Belt and One Road”.  The project was initiated by the Federal Center for Project Finance. On the first day of the Forum ICDI welcomed Mr. Dvorkovich on the booth. CEO of ICDI Mrs Elena Trofimova acquainted him with the project. ICDI’s Chinese partners also invited to the presentation of the project, confirmed Mr. Dvorkovich their willingness to invest in the Russian economy.

 

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20 December 2015 -  ICDI welcomes a new partner - Northstar Corporate Finance

We are very glad to announce the beginning of cooperation with Northstar Corporate Finance, which is a member of an international group of companies Mergers Alliance , having 45 offices in 27 countries all over the world. Now, together with a team of highly experienced professionals of Northstar, ICDI can offer its customers even more brand new investment opportunities and solutions for successful business anywhere in the world.

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09 December 2014 -  Managing director ICDI Alexander Yakubov took part in " Vzglyad" on RBC TV Channel

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02 December 2014 -  Director ICDI HK Simon Cheung took part in MIPIM Asia as a speaker of seminar organized by Moscow Goverment

Director ICDI HK Mr Simon Cheung,  a financial veteran in Hong Kong for over 20 years of experience, has been invited to speak as the expert speaker in the Moscow City Investment Seminar. The seminar has been organized by the Moscow City Government as a part of the famous Property Leader Summit in Hong Kong ( MIPIM Asia ) on the 2nd of  December 2014.  

 

Top officials from Moscow City Government has highlighted the real estate projects that want to attract the Asian investors.  Our Chief Representative, Simon Cheung, speaks of investment strategies and areas of focus among the Asian audiences who are interested at the investment opportunity in Moscow City

 

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31 July 2014 -  Thomson Reuters News: ICDI coordinates debute bonds placement deal of Rosinterbank in Asia

“JSC Bank Rosinterbank, a small Russian bank, is looking at issuing a 500 million dim sum bond and its executives have already met investors in Singapore, Hong Kong and Macau.

ICDI, a corporate finance house which has been advising JSC Bank Rosinterbank on the bond, said the bank expected good demand despite the new sanctions because it is privately-owned.

"Rosinterbank deposit income grew three times after the first wave of sanctions because clients choose private banks instead of state-owned ones," said Elena Trofimova, CEO of ICDI.

Trofimova said investors from Hong Kong, Mainland China and even London were interested in the deal and, after due diligence, ready to take part. "They said that politics is politics and business is business," she said.

 

 

 

ASIA A HARD SELL FOR RUSSIAN FIRMS SEEKING CASH  - RTRS

31-Jul-2014 01:44

  • Russian firms frozen out of international syndicated loan market
  • Banks cowed by BNP Paribas sanctions fine
  • Companies look at yuan bonds but market is small
  • Flows of Russian wealth to Singapore rising
  • Banks in Singapore are clamping down on who they let in



 

By Rachel Armstrong and Tessa Walsh

SINGAPORE/LONDON, July 30 (Reuters) - Russian banks and companies shut out of Western funding markets are unlikely to be greeted with open arms and ready wallets in Asia, international bankers and industry experts say.

New sanctions imposed by Washington and Europe over the Ukraine crisis have prompted firms such as VTB - Russia's second-largest bank by assets VTBR.MM- and Gazprombank GAZP.MM to look east for new sources of funding.

Banks and investors in Asia, however, are reluctant to get involved. This leaves the Russian central bank as the only obvious alternative, apart from Chinese currency bonds where borrowing costs are rising and the market is too small to plug the gap left by Western capital markets.

The Islamic bond market is also problematic.

The European Union and United States announced the sweeping sanctions against Russia on Tuesday, targeting its energy, banking and defence sectors in the strongest international action yet over Moscow's support for rebels in eastern Ukraine.

Wealthy Russians looking to park their money outside Europe and the United States also face a cautious welcome in Singapore, Asia's private banking hub, where wealth managers are increasingly picky about whose cash they handle.

"A lot of Russian money wants to come to Singapore but a lot of it is not clean, so banks have tightened up all their rules," said Satish Bakhda, chief operating officer for Singapore at Rikvin, which helps people and businesses set up companies.

"A lot have tried to incorporate companies, but when they open the bank account it becomes very difficult because the bank wants them to be resident in Singapore or know where the source of funds comes from - and that's where they get stuck."

On the corporate side, the possibility of blacklisted firms raising loans in any currency from syndicates of banks is close to zero, even in Asia, because lenders with U.S. branches and subsidiaries will not want to upset Washington.

The United States is already lobbying Asian governments to join the sanctions regime.(Full Story) Banks around the globe have also been cowed by a $9 billion fine imposed by a New York court on France's BNP Paribas BNPP.PA for doing business in Sudan, Iran and Cuba - countries which are also subject to U.S. sanctions.

Lenders are now taking a uniform stand, regardless of their base, on Russia. "Right now, all banks are acting the same, no group is any more or less cautious or sanctions-aware. It's all too important - Asian banks are the same as European or U.S. banks in this respect," said a London-based banker at an Asian lender.

Even Russian firms that have not been sanctioned are suffering as lenders reduce their exposure to the country. Chinese banks might be willing to consider a syndicated loan to such companies, bankers said, but only on a case-by-case basis.




 

DIM SUM

Russian banks on the U.S. and EU blacklists do not have much debt maturing this year and the central bank, which has international reserves of $472.5 billion, has said it will support any domestic bank hit by sanctions.

However, Russian banks and companies are looking at issuing debt in the "dim sum" market from bonds denominated in yuan that are sold outside China.

JSC Bank Rosinterbank, a small Russian bank, is looking at issuing a 500 million dim sum bond and its executives have already met investors in Singapore, Hong Kong and Macau.

ICDI, a corporate finance house which has been advising JSC Bank Rosinterbank on the bond, said the bank expected good demand despite the new sanctions because it is privately-owned.

"Rosinterbank deposit income grew three times after the first wave of sanctions because clients choose private banks instead of state-owned ones," said Elena Trofimova, CEO of ICDI.

Trofimova said investors from Hong Kong, Mainland China and even London were interested in the deal and, after due diligence, ready to take part. "They said that politics is politics and business is business," she said.

But the fresh sanctions are spooking sentiment, making it more expensive for Russian companies to access such funding. Yields on Russian companies' outstanding yuan bonds jumped on Wednesday with those on one Gazprombank issue soaring 100 basis points since July 16, when it was hit with an earlier round of U.S. sanctions. (Full Story)

Executives from Gazprombank were in Seoul last week to meet fixed income investors in a so-called non-deal roadshow.

The dim sum market is also too small to replace Russians' external financing needs. The entire market is worth around $110 billion, less than half of what Russian companies have borrowed in euro- and dollar bond markets in the past decade.

The Islamic bond market, around the same size as the dim sum market, is in theory an alternative option for Russian banks and companies but in practice its use would be limited.

Around two thirds of the Islamic bond market comes from ringgit deals out of Malaysia, a country that could be reluctant to do business with Russian firms.

The latest round of sanctions was prompted by Western suspicions that the pro-Moscow rebels shot down a Malaysian airliner over eastern Ukraine with a Russian-supplied missile. Moscow denied responsibility, blaming the Ukrainian military for the disaster in which 298 people died earlier this month.

The remaining third of the Islamic bond market is in dollars.



 

A NEUTRAL LINE

EU and U.S. sanctions on individuals have been restricted to a narrow group linked to President Vladimir Putin.

Notwithstanding the difficulties in opening accounts in Singapore, private bankers there say that inflows from wealthy Russians are up this year, attracted by the island's political stability, low taxes and its tendency to keep its head down when international conflict flares.

"Singapore treads a neutral line," said Sean Coughlan, managing director of wealth planner Asiaciti Trust Singapore. "That's attractive to clients who come from that part of the world (Russia) - what they don't want is to park their assets in a jurisdiction where tomorrow they find all their assets are confiscated or frozen, or they can't get access to them."

There is no official data pointing to a rise in flows from Russia but the latest available central bank figures show a 17 percent increase in assets under management from Europe in 2013. Cyprus, the former destination of choice for Russian cash, imposed capital controls and losses on large depositors last year to save itself from bankruptcy.

Russians wishing to move their cash to Singapore have to go to great lengths to prove that they are tax compliant. Singapore, anxious to avoid U.S. tax inquiries that have hit other financial hubs such as Switzerland, has brought in tougher rules around vetting new clients.

Bankers in Singapore say Russians looking for a new Cyprus have come to the wrong place.

"It takes around one to two months to open an account for a client from say Russia, especially if they’re using a complicated structure," said the head of the Eastern Europe team at a private bank in Europe. "By comparison for a client from a developed country opening a straightforward individual account it takes around one to two weeks."



 

(Additional reporting by Joshua Franklin and Katharina Bart in Zurich, Joyce Lee in Seoul and Megan Davies in Moscow, Writing by Carmel Crimmins; editing by David Stamp) ((carmel.crimmins@thomsonreuters.com)(+353 1 500 1529)(Reuters Messaging: carmel.crimmins.thomsonreuters.com@reuters.net))



 

Keywords: RUSSIA SANCTIONS/ASIA

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16 April 2014 -  New high-tech plant will be established in Russia

 On April 16 in the city of Moscow  ICDI Group, ModenaTechnology Limited and Ulyanovsk Region Development Corporation signed a tripartite Memorandum of understanding and

investment activities of the ceramic tiles producing construction  in the Ulyanovsk region of Russia. The project envisages the creation of a modern high-tech production , which will be a worthy addition to the development of industrial cluster construction and the Ulyanovsk region in southern Russia. The project will enable the creation of 200 highly skilled jobs.

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17 January 2014 -  Interveiw of CEO ICDI Moscow Elena Trofimova to HKTDC, the organanizer of Asian Financial Forum

Elena Trofimova, CEO of ICDI, was interveiwed by HKTDC, organizers of Asian Financial Forum. Elena told the story of establishing a joint venture company with Hong Kong Partners.

 

 

 

Asian Financial Forum

 

 

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15 January 2014 -  ICDI's booth on the AFF 2014

International Center for Development of Innovation (ICDI) was unique Russian company with the booth on Asian Financial Forum 2014 that took place on 13-14 January 2014 in Hong Kong. This event  attracked near 2000 financial professionals from South Estern Asia region.Deputy minister of finance of Russian Federation Alexey Moisiev was amoung speakers on the conference and visited the ICDI booth. The company brought several investment projects to AFF and some of them founded potential partners from SE
Asia. Among them are building materials project and Russian bank’s bonds placement.
“AFF is a perfect platform for deal matching and brings new opportunities for business development” Simon Cheung, the director of ICDI HK said. “We started our cooperation with Russian team from AFF 2012 so we can show a good example by ourselves for other companies which are looking for business partners”

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