atul punj forbes

Moreover, he says that projects in the oil sector are those with an exploration cost of less than $40 a barrel, still giving Punj some leeway. The timing was fortuitous. Jaitley will also meet Osamu Suzuki, Chairman of Suzuki Motor, the biggest Japanese investor in automobile sector in India. After attending university in Delhi, he joined the family combine. ", 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. Career Switch: Studied Marxist theory and earned a law degree in the U.S. before going into finance. Jaitley will also meet Osamu Suzuki, Chairman of Suzuki Motor, the biggest Japanese investor in automobile sector in India. "We've had some serious tailwind behind us in recent years, but this is a real stretch goal," he acknowledges. 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. You may opt-out by. (In Asia, institutions outsource 14% of assets, compared with the U.S., where 80% is outsourced. Close. The key challenge for Atul is to focus on profitable growth.". Now Yeh has signed on with Shirish Saraf, the flamboyant founder of Dubai's Abraaj Capital, the Middle East's largest private equity firm. When the Iraq-Iran War broke out in 1980, some 3,000 workers on the project had to be evacuated overnight. In 2002 Yeh helped launch Argyle Street Management, a distressed-asset specialist that last summer profited by buying bonds from investors fleeing China's Asia Aluminum. Returning home, he bid to construct a 100-mile oil pipeline between Mumbai and Pune for state-owned Hindustan Petroleum. 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. Atul was set to make a killing, but a month later the technology bubble burst and Nomura backed out of the deal. Given all this, it's no surprise that business was tough for Value Partners at first. From Mumbai, I track the wealth of India's richest and also oversee the Asian rich lists for Forbes Asia. 8. Punj Lloyd is benefiting from its geographical spread. After 18 months of lobbying, his $5 million bid was finally accepted. It's one of many lessons he's imbibed over an eventful career. "Asset management is a scale business," says Abhi Shroff of Greenwich Associates, a U.S. financial services consultancy in Stamford, Connecticut. "The arrogance and impatience of youth had kicked in big time," he sighs. © 2021 Forbes Media LLC. 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. In large part due to his ownership of the Yellowstone Club, he had entered the ranks of the Everything is on the table." "The asset-management industry in Asia is still small when compared with other key markets," says Shroff. "I was a little hands-on initially, but you really have to trust your partners.". I'm also a founding director of SatyaGyan Foundation, a non-profit that aims to alleviate poverty through education and employment. In January 2000 Nomura Securities offered to buy Spectranet for $350 million, boosting its offer to $550 million in August. 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. ", Indeed, all of Yeh's fund companies follow his classic value-investing approach. It'd be difficult for local managers to compete with global managers, especially if they are purely based on Asian money. Your fees are based on the size of your assets. Scott Bayman, the former country head of ge in India, who sits on the company's board, is less sanguine: "The way markets are right now, customers won't be able to raise capital easily, so there's a likelihood of new projects getting impacted. He was grilled by a ministry bureaucrat in New Delhi: "Young man, has your company ever welded two pipes before?" V-Nee is able to provide this kind of help.". In a bid to unlink Punj from the notoriously volatile energy sector, Atul has expanded into infrastructure, a crying need in India. "We'd run out of cash and were leveraged to the hilt. I cover regional corporates and entrepreneurs for Forbes Asia magazine as a contributing correspondent. "We first assess the downside, buying things at discounts. Whitney & Co., one of the oldest U.S. venture capital firms, in 1998. 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. The pipeline was eventually completed two years later but had racked up losses that the group could ill afford. You may opt-out by, The Singapore Declaration And The Biden Administration’s 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 Son’s Wealth Soars To Record High As SoftBank Shares Zoom, Records Tumble As Commodity Cash Floods The Miners, IMAX Shares Soar On China’s 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. "As a business achieves traction and stability, I increasingly move myself out of the business and let the partners run it," says Yeh. 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… Age seems to have tempered him a bit, though. To tap into Saudi Arabia's oil and gas sector, Punj Lloyd has forged a joint venture with Dayim, a firm owned by royalty. Members of Parliament: Parliament to function - urge all political parties to have a collaborative and consultative process in the Parliament ), Japan is an exception. Dabbling in politics: Last January was appointed a nonofficial member of the Executive Council, Hong Kong's de facto cabinet. Not only did he orchestrate the 1992 delisting of Hsin Chong to allow other family members to cash out, but he also eventually engineered the family's exit from all listed interests by mid-2008. Punj Lloyd made early inroads into those countries, initially securing modest contracts as a subcontractor to big firms like Bechtel and Kellogg Brown & Root (now KBR). Back in 1993 V-Nee Yeh spotted this gap in the market, but Western behemoths dominate asset management in Asia and so the going was rough. It has a seven-channel Honeywell satellite communications system to handle simultaneous phone and modem transmissions. "We have a two- to three-year visibility in our business, and we aren't seeing a slowdown yet," he insists. Early on Yeh and Cheah saw the potential in value investing. The Confederation of Indian Industry (CII), the ape 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. Finance Minister Arun Jaitley arrived here on Sunday, May 29 a six-day visit during which he will meet Japanese Prime Minister Shinzo Abe. Yeh and his partner, Cheah Cheng Hye, kept at it and today Value Partners is listed on the Hong Kong Stock Exchange and ranks as the second-largest independently owned fund manager based in Asia. The project was beset by problems, mainly because, he admits, he'd underestimated its complexity. He easily compensates with strict discipline, frequent bursts of creativity and a reputation for honesty and plain-talking. (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.).

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