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LAST UPDATED: Friday, April 06 2007
7:30 Registration and Continental Breakfast 8:40 Conference Welcome and Introduction to the Chairperson Andy Melvin, Senior Vice President & Producer, INFORMATION MANAGEMENT NETWORK 8:45 CHAIRPERSON'S OPENING REMARKS William Ross, Managing Director, Head of ABS and Structured Bonds, HSBC 9:00 OPENING OVERVIEW: INDUSTRY LEADERS SET THE SCENE FOR ASIAN SECURITISATION What are the newest developments in the market? Which jurisdictions offer the greatest potential for growth? Innovation and sophistication: Where can they be found? Issuance volumes and investor appetite Managing risk in a region with varying jurisdictional fundamentals Moving away from plain vanilla structures Is homogeneity possible in such a fragmented region? Moderator: Leland Sun, Chairman, PAN ASIAN MORTGAGE COMPANY LTD. Panelists: Boudewijn Berger, Head of Securitisation, Asia, ABN AMRO Stan Ho Ho Ming, Senior Director, Head of Non-Japan Asia Structured Finance, FITCH RATINGS William Ross, Managing Director, Head of ABS and Structured Bonds, HSBC Tim Matson, Regional Head of Fixed Income, ING INVESTMENT MANAGEMENT ASIA PACIFIC Warren Lee, Managing Director-Head ABS Asia, STANDARD CHARTERED BANK (HONG KONG) Roland Ho, Managing Director, TCW GROUP 10:00 THE ROLE OF MULTINATIONALS IN DOMESTIC SECURITISATION MARKETS Is there a (common) emerging trend in deal structure and documentation across the region? Will infrastructure finally make it into Asia's onshore securitisation market this year? Are there any new ways to mitigate political risk in securitized deals? How far above the sovereign ceiling can one really bring the senior tranche's rating? Will domestic-market deals provide meaningful supply to the international market? Moderator: Lesi Zuo, Head of NEA, Asset Backed Securitization, STANDARD CHARTERED BANK (HONG KONG) Panelists: Christine Engstrom, Senior Investment Specialist - Capital Markets and Financial Sectors Division, ASIAN DEVELOPMENT BANK Marie-Anne Birken, Assistant General Counsel, ASIAN DEVELOPMENT BANK Shih-Chieh Bill Chang, Commissioner, FINANCIAL SUPERVISORY COMMISSION (TAIWAN) Helen Wong, Associate Director, Structured Finance, FITCH RATINGS Dr. K. V. Rajan, Regional Director & Chief General Manager, RESERVE BANK OF INDIA 10:45 Networking Refreshments 11:00 A CASH/BALANCE SHEET CDOs Enhancing efficiency and rebalancing portfolios Analyzing recent Asian Basel II-driven balance sheet deals In a tightening spread environment: The search for more innovative and esoteric structures Moderator: Jeffrey Tolk, Asian Head of Structuring, Structured Credit, HSBC Panelists: David Yan, Ph.D., CFA, Head of CDO Research, CREDIT-SUISSE Stephen Wong, Managing Director & Head of Structured Credit and CDOs, Asia Pacific, RBS Gloria Lu, Associate Director, STANDARD & POOR'S Sajjad Naqvi, Chief Credit Officer, TCW GROUP 11:00 B REAL ESTATE OVERVIEW Macro-level trends Developments in the U.S. and their impact in Asia Lessons learned from the past year Where are the largest opportunities? Where might the pitfalls be? The role of REITs Moderator: Morgan Laughlin, Managing Director & Head of Real Estate Finance, Asia Pacific, RBS Panelists: Craig Lee, Managing Director, Head of Asia Pacific, ASSURED GUARANTY Sanjay Aggarwal, Director, CITIGROUP GLOBAL MARKETS SINGAPORE PTE. LTD. Alan Chan, Analyst, Structured Finance, FITCH RATINGS Joe Lu, Vice President, Trust Department, Corporate Banking Group, FUBON BANK Kyson Ho, Director, ABS and Structured Bonds, HSBC Franklin Heng, CEO, MACQUARIE PACIFIC STAR 11:45 A ISSUER ROUNDTABLE Managing impediments involved in coming to market Meeting investor demand Comparative analysis of various issuers strategies Where are the challenges and opportunities Future outlook: will there be program issuers in the region? Moderator: Warren Lee, Managing Director-Head ABS Asia, STANDARD CHARTERED BANK (HONG KONG) Panelists: Olivier Lim, Group Chief Financial Officer, CAPITALAND LIMITED (SINGAPORE) Sun Yu, Executive Vice President, CMB INTERNATIONAL CAPITAL LIMITED (CHINA) Khun Khan Prachuabmoh, President, GOVERNMENT HOUSING BANK OF THAILAND (THAILAND) Leland Sun, Chairman, PAN ASIAN MORTGAGE COMPANY LTD. (HONG KONG) John Filmeridis, Chief Executive Officer, STANDARD CHARTERED FIRST BANK (SOUTH KOREA) 11:45 B LEGAL, REGULATORY, TAX AND ACCOUNTING DEVELOPMENTS Reg AB Risk capital management in response to the implementation of Basel II Securities Offering Reform PRC Circular 171: the new restrictions on foreign investments in Chinese real estate and its impact on securitisations in China Is the current regulatory framework conducive to structured deals? Reporting standards Current reporting requirements IS39 The impact of IAS 30 and SIC 12 on consolidation Overview of accounting treatments of asset securitisation transactions Current reporting requirements The current role of an SPV administrator Tax impediments and future tax measurements Moderator: Warren R. Loui, Partner, MAYER BROWN ROWE & MAW LLP Panelists: Olivia Ting, Partner, DELOITTE TOUCHE TOHMATSU Susie Cheung, General Counsel and Company Secretary, THE HONG KONG MORTGAGE CORPORATION LIMITED Hugh Thompson, Senior Vice President, MAPLES FINANCE LIMITED Kingsley Ong, Senior Associate, MAYER BROWN ROWE & MAW LLP 12:30 A INVESTORS' ROUNDTABLE Where are the possibilities for investors to uncover relative value within the Asian market? The due diligence process for investors Appetite for structured credit product vs. traditional ABS Issuers' outlook Which asset types are attracting the most interest among investors? Addressing problems in asset quality and possible solutions Moderator: Pierre Mouradian, Head of ABS Syndicate, CALYON Panelists: Anthony Cutcliffe, Executive Director, DILLON READ CAPITAL MANAGEMENT Graham Kershaw, ERSTE BANK Elizabeth Fritschi, ABS Investment Manager, LBBW Ian Lui, Chief Investment Officer, SHIN KONG LIFE Melissa C. Marzulli, Managing Director, STATE STREET CAPITAL PTY LIMITED Roland Ho, Managing Director, TCW GROUP 12:30 B BASEL II: THE MOMENT OF TRUTH HAS ARRIVED A key driver for increased issuance Assessing impact and implications Balance sheet bank CLOs Presenters: Kieran Patel, Associate Director, ABS and Structured Bonds, HSBC Keith de-Vaz, Director-Portfolio Management, STANDARD CHARTERED BANK (SINGAPORE) 1:15 Networking Luncheon 2:25 A KOREA "1": FOCUS ON CONSUMER FINANCE What have been the recent developments in credit card-backed transactions? New opportunities for residential MBS Are auto loan receivables on the rise? Is there an increased appetite for synthetics? Increased stabilization of performance Security concerns with North Korea Moderator: Maria Cheung, Director, ABS & Structured Bonds, HSBC Panelists: Y.J. Hwang, Vice President, CITIGROUP GLOBAL MARKETS KOREA SECURITIES LTD. Bryan H.G. Park, Team Manager, HYUNDAI CAPITAL Han Chul Kim, Vice President, Principal and Structured Finance, LEHMAN BROTHERS Neil Campbell, Partner, PAUL, HASTINGS, JANOFSKY & WALKER LLP Taemoon Chung, Associate Director, Structured Capital Markets, Asia Pacific, RBS Frank Lu, Associate Director, STANDARD & POOR'S 2:25 B SINGAPORE TAKES A LEADING ROLE: CDOs, CMBS AND REITs Sound economic fundamentals: Helping fuel growth Continued strong performance of property assets Who are the leading issuers? Investors? Review of REITs performance Evolution of CDOs PPPs Moderator: Lam Wan Tsiang, Director, Structured Capital Markets & Real Estate Finance, Asia Pacific, RBS Panelists: Ashish Sharma, Director, ABN AMRO Amit Agarwala, Vice President, Debt Capital Markets Asia-Pacific, CALYON Angelina Nguyen, Director, ABS and Structured Bonds, HSBC Kenneth Kwan, Director-ABS, STANDARD CHARTERED BANK (SINGAPORE) Peter Eastham, Director, STANDARD & POORS 3:25 A THE SEDUCTION OF POTENTIAL: SECURITISATION IN CHINA ONE YEAR ON Cross-border overview Funding benefits available for corporates: An option apart from the more regulated bank securitisation market How can investors access this market? The role of private equity Predictions on when the Chinese market will increase flow from a trickle to a flood CMBS issues: Cross-border focus Moderator: Jeff Chen, Partner, MAYER, BROWN, ROWE & MAW LLP Panelists: Harry Tang, CFA, Co-Head of Asia Securitisation, BMO CAPITAL MARKETS Kyson Ho, Director, ABS and Structured Bonds, HSBC Michelle Taylor, Partner, ORRICK Raymond L. Chen, Senior Director Real Estate Finance , Asia Pacific, RBS Lesi Zuo, Head of NEA, Asset Backed Securitization, STANDARD CHARTERED BANK (HONG KONG) 3:25 B OVERVIEW OF DEVELOPMENTS IN JAPAN: ANALYSES OF A CRUCIAL JURISDICTION Evolution of the RMBS market: Can we expect continued growth How has the increased M&A activity impacted the mortgage market? J-REITs: Innovative approaches Fundraising methods of non-banks Offshore SPVs vs. Japanese SPVs Moderator: Joel Rothstein, Partner, PAUL, HASTINGS, JANOFSKY & WALKER LLP Panelists: Howe Wu, Managing Director, BABSON CAPITAL K.K. Jean-Marc Winand, Managing Director, Head of Securitisation for Japan, CALYON Yuji Date, Senior Vice President, Principal and Structured Finance, LEHMAN BROTHERS Chinatsu Hani, Structured Product Analyst, MERRILL LYNCH JAPAN SECURITIES CO., LTD. 4:15 Networking Refreshments 4:30 "A" NOVEL EUROPEAN/US STRUCTURES: WHAT THE FUTURE COULD HOLD FOR ASIA The Emergence of Market Value Structures SIVs SIV Lites Covered Bonds Presenter: James Croke, Partner, Structured Finance, ORRICK 4:30 B CASE STUDY: KOREA CENTRAL MORTGAGE RMBS PROGRAM Presenter: Patrick Kaye, Senior Vice President, Structured Finance, LEHMAN BROTHERS 5:10 A WILL ASIA FOLLOW EUROPE WITH THE NEXT ISSUANCE EXPLOSION? Factors that drive ABS issuance Summary of emerging trends in Europe Outlook for Asia Basel 2 and effects seen in Europe so far Participants: Markus Herrmann, Head of Global ABS Research & Strategy, HSBC Peng Sun, CFA, Associate Director, ABS Strategist, HSBC 5:10 B CREDIT DERIVATIVES & SYNTHETIC SECURITIZATIONS: INTRICACIES EXPLAINED AND EXPLORED Latest developments Structural enhancements Credit Default Swaps CPPI and CPDOs: Continued innovation Moderator: Michelle Taylor, Partner, ORRICK Panelists: Pierre Trecourt, Managing Director, Head of Credit Markets & CDO for Asia ex-Japan, CALYON David Wong, Associate Director, Structured Credit, FITCH RATINGS Gloria Lu, Associate Director, STANDARD & POOR'S 6:00 Networking Cocktail Reception 7:00 End of Day One LAST UPDATED: Wednesday, April 04 2007
8:00 Continental Breakfast 8:45 CHAIRPERSON'S RECAP REMARKS William Ross, Managing Director, Head of ABS and Structured Bonds, HSBC 9:00 DRILLING DEEP TO EXAMINE THE DOMESTIC CHINESE SECURITIZATION LANDSCAPE: UPDATE FROM THE CSF Recent securitization regulatory developments in China Market trend and new developments in domestic Chinese securitization Credit risk and collateral performance Remaining legal issues and challenges in the domestic market Moderator: Jun (John) Qian, Director General, CHINA SECURITIZATION FORUM, Executive Director, MORGAN STANLEY Panelists: Weidong Wang, Portfolio Manager, BANK OF CHINA Michael Ye, Chief Executive Officer, CHINA CHENGXIN RATINGS Xusheng Yang, Partner, KING & WOOD Lesi Zuo, Head of NEA, Asset Backed Securitization, STANDARD CHARTERED BANK (HONG KONG) 10:05 Networking Refreshments 10:20 A KOREA "2": A FURTHER EXAMINATION OF A JURISDICTION ON THE UPSWING Moderator: Juhan Kim, Managing Director, STANDARD CHARTERED FIRST BANK (SOUTH KOREA) Panelists: Oh Keum Hee, Associate Director, Structured Finance, FITCH RATINGS S.C. Park, Head of ABS, FSS Dr. Jong Goo Yi, Partner, SHIN & KIM Nicholas Kwan, Regional Head of Research, Asia, STANDARD CHARTERED BANK 10:20 B TAPPING INTO THE SIGNIFICANT GROWTH POTENTIAL IN INDIA Effect of new regulations from the Reserve Bank of India (RBI) The burden of heavy regulation and other disincentives Need for liquidity Dissecting the burgeoning consumer finance sector Lessened investor appetite Potential for a broadening market in the long-term Innovation and sophistication to drive growth Infrastructure loans and project finance Moderator: Chetan Joshi, Associate Director, ABS and Structured Bonds, HSBC Panelists: Amit Agarwala, Vice President, Debt Capital Markets Asia-Pacific, CALYON Neeraj Gambhir, General Manager, ICICI BANK LIMITED Noel Edison, Managing Director, STANDARD CHARTERED BANK (LONDON) Peter Eastham, Director, STANDARD & POOR'S 11:20 A TAIWAN'S RE-EMERGENCE TO THE MARKET Reasons for increased issuance Local currency CDOs Challenges and opportunities for real estate Comeback of consumer finance sector after recent credit deterioration Political uncertainties and knock-on effects Are consumers out of the woods? Moderator: Jenny Chen, Senior Vice President, ABS and Structured Bonds, HSBC Panelists: Arthur Wang, ABN AMRO (TAIWAN) Simon White, Director, AMBAC ASSURANCE CORP. Alex Chen, Vice President, Global Securitized Markets, CITIGROUP GLOBAL MARKETS TAIWAN LTD. Jackie Lee, Associate Director, Structured Credit, FITCH RATINGS Eric Lin, Senior Vice President, Principal and Structured Finance, LEHMAN BROTHERS Lesi Zuo, Head of NEA, Asset Backed Securitization, STANDARD CHARTERED BANK (HONG KONG) 11:20 B DEVELOPMENTS IN THE SECURITISATION MARKET IN THAILAND Interest level in asset-backed securities Asset classes to be on the look out for: Consumer assets with a focus on mortgages Infrastructure projects The legal and regulatory framework for securitisation in Thailand Further developments to expect Recommendations for market development Predictions for the future of the market Moderator: Khun Pimolpa Suntichok, Director-ABS, STANDARD CHARTERED BANK (BANGKOK) Panelists: Soramon Inkatanuvatana, Vice President, CITICORP SECURITIES (THAILAND) LIMITED Orawan Karoonkornsakul, Senior Director, Structured Finance, FITCH RATINGS Khun Chom Sumanaseni, Consultant, GOVERNMENT HOUSING BANK OF THAILAND Jason Lam, Associate Director, ABS and Structured Bonds, HSBC Foong Hock Meng, President & Director, PIMCO 12:20 THE WIZARDRY OF OZ: HOW ARE AUSTRALIAN ISSUERS PENETRATING THE INTERNATIONAL CAPITAL MARKETS? Another record year of issuance volumes Where are the new opportunities in this market? Why has RMBS continued to lead the way? Analyzing non-performing and non-conforming portfolios Further asset-class diversification: ABS, CDOs and CMBS also in the market Moderator: Andrew Duncan, Associate Director, ABS and Structured Bonds, HSBC Panelists: Nigel Pickford, Executive Manager, Securitisation, Group Treasury, COMMONWEALTH BANK OF AUSTRALIA Ben McCarthy, Managing Director, Head of Australia Structured Finance and REITs, FITCH RATINGS Melissa C. Marzulli, Managing Director, STATE STREET CAPITAL PTY LIMITED 1:00 The 3rd Annual Industry Summit on Asian Securitisation Concludes | |||||||||||||||||||||
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