Loan Proposal Executive Summary by cqh93112

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									    YDC - E- Challenge
    How To Write An Investment Proposal

    14th March 2009


                                  Roger T. Marshall
                                  Managing Director
                                  Persimmon Capital Limited
                                  roger.marshall@persimmoncapital.com.hk
                                  (852) 3105-1580


E Challenge – Executive Summary                                       1
       NexWave Solutions SAS

                 08 March 2005

                            THE MICROSULIS GROUP OF COMPANIES

                                                                                                LEISURE CAPITAL GROUP
            Company Profile

                                                                                                  A Developer, Marketer and Manager
                                                                                                                      of
                                                                                                    Leisure and Recreation Assets




                                                                                                                      A
                                                                                                      Executive Summary Specialist Cardiovascular
                                                                                                                                           Medical Service Business
                        The Microsulis Group of Companies

                        Microsulis Plc (“the Company” or “Microsulis”), incorporated in the United Kingdom, is the
                        parent company of The Microsulis Group of Companies (“the Group”) which is comprised,
                        in addition to Microsulis Plc, of:                                                                                        Executive Summary
                                                                                                                                                          February 2005
                         Microsulis Asia Limited in Hong Kong;
     This document is    Microsulis Medical Technology (Shenzhen) Ltd of China;
                        strictly confidential
                         Microsulis Corporation in the USA; and
                         Microsulis Canada Inc.

                        The Group has research, development and manufacturing facilities in the United Kingdom
                        and direct sales and distribution offices in the UK, the United States, Hong Kong, China           The receipt of this Executive Summary constitutes an acknowledgement that the
                        and Canada. The Group also has created a complete distribution network in the important            information contained herein will be maintained in confidence and will not be disclosed
                                                                                                                           to any third party without prior written consent of Heart Management Company
                        markets of the Far East and Australia, and is in the process of organizing distribution in
                                                                                                                           Limited (“Company”). Neither this document, nor any of the information contained
                        Continental Europe and Latin America.                                                              herein, may be reproduced, in whole or in part, or used for any purpose other than for
                                                                                                                           the recipient to evaluate an investment in the business. Upon request, the recipient will
                                                                                                                           promptly return all material received from the Company, including this Executive
                        A Revolutionary New Platform Technology                                                            Summary, without retaining any copies thereof or extracting information therefrom.

                        The Company has developed a revolutionary, internationally patented and medically
                        approved non-replicable platform technology. This technology, based upon the
                        Microsulis Medical System, delivers high frequency microwave energy safely and efficiently
                        inside the human body offering precise therapeutic tissue destruction to cure a broad range
                        of clinical conditions. This new technology is set to replace many forms of conventional
                        and laser surgery. The Group markets directly and through its distribution network the
                        Microsulis Medical System and its proprietary technology globally.                                                                 February 2006




E Challenge – Executive Summary                                                                                                                                                                                        2
                                  What Is An Investment Proposal?
 A sum of
  the parts:      Summaries and a Business Plan

 Summaries:       Executive Summary and Investment Proposition

 Purpose:         To communicate and market a business idea

 Objective:       - Seeking business partner

                  - Seeking financing

                  - Seeking approval for a project

                  - Winning a business plan competition


E Challenge – Executive Summary                                  3
                                       What Is A Business Plan?


      Marketing document

      Targeted to a particular audience – so need to know your
       reader

      Anticipate questions / concerns of target reader

      Comprehensive analysis of the business and the market
       opportunity




E Challenge – Executive Summary                                   4
                                    What Is An Executive Summary?
      A concise version of the business idea

      3 pages long

      Usually first part of the business plan
       - the business concept
         - outline business strategy
         - people
         - objective

      Can be read as a standalone section

      Allow busy readers to:
          •   get a good general idea of the business plan
          •   be interested enough to spend time to want to read a full
              business plan



E Challenge – Executive Summary                                           5
                            What Is An Investment Proposition?

      A more developed summary of the investment thesis
       behind an investment idea

      5 pages

      Includes the outline of the business model

      Includes summarised financials

      Will demonstrate that the proposal is more than just an idea




E Challenge – Executive Summary                                       6
                                  General Principles Of Writing

      Importance of:

             • Conciseness
             • Clarity
             • Being convincing

      Visual impact

      Use simple words

      Use subheadings and numbers



E Challenge – Executive Summary                               7
                             General Principles Of Presentation
                                  Example #1

     A business plan is a piece of writing to communicate and to
     market a business idea. Most of the time, the objective is to
     generate enough interest for the reader to consider entering into
     a business arrangement with you as a supplier, customer,
     strategic investor, partner or joint developer; providing funding
     to the plan or the project, such as seeking a bank loan, equity,
     university or government grant; or granting approval of a license
     application, internal approval, etc. In your case, the objective is
     to sell the business idea to win the business plan competition.




E Challenge – Executive Summary                                            8
                             General Principles Of Presentation
                                  Example #2

   A business plan is a piece of writing to communicate and to
   market a business idea.

   Most of the time, the objective is to generate enough interest for
   the reader to consider:

       a) entering into a business arrangement with you (eg. as a
          supplier, customer, strategic investor, partner or joint
          developer);
       b) providing funding to the plan or the project (eg. Bank
          loan, equity, university or government grant); or
       c) granting approval (eg. License application, internal
          approval, etc.)

   In your case, the objective is to sell the business idea to win the
   business plan competition.

E Challenge – Executive Summary                                          9
                                          Summary

                                          Company Name:
                                          Sector:
                                                                  NexWave Solutions SAS;
                                                                  Component based software for embedded systems;
                                                                                                                                                                      NexWave
                                          Residence, Country:     Montpellier, France;
                                          Investment Round:       Series C2 Preferred Shares;
                                          Investment Size:        EUR 3 – 5 mln (depending on exercising of warrants by ABN AMRO Capital (“AAC”) of
                                                                  EUR 2 mln);
                                          Existing Investors:     Employees and management……………… 49%
                                                                  MIG……………………………………….. 20%
                                                                  ABN AMRO Capital……………………… 14%
Use of summary                                                    Other………………………………………. 17%
                                          Exit expected:          IPO or Trade sale.       Investment Thesis

 Management                                                                               Revolutionary Technology and Products: NexWave’s unique, component-based products have fundamental
                                                                                          strategic advantages for the targeted companies in terms of time to market and significant cost efficiencies.

 The management of the company is of a high professional level combining outstanding qualities as entrepreneurialto both accelerate and exploit the growth of the embedded software market: Due to
                                                                                           NexWave is positioned
 experience, worldwide sales network, proven operation skills and recognized high-level software development skills. products and technology and complementary usage compared with proprietary developed
                                                                                           distinctive benefits of its
 Key members are:                                                                          software, OEMs have a clear advantage to use third-party software of NexWave. NexWave performance profile fits
                                                                                          into several industries, but the Consumer Electronics (CE market), Office Equipment (OE market) and the Network
                                                                                          Equipment (NE market)
 Hans Eekhof: CEO. Is a successful entrepreneur and business angel, who made his fortune in the medical industry. make an exceptionally good fit with the companies’ product offering. NexWave’s total
                                                                                          addressable market is estimated to be EUR 0.23 bln in 2002, growing to EUR 1.74 bln by 2006.
 Hans Eekhof is a sales oriented manager, who brings the in-depth entrepreneurial experience that young companies
 need. He holds an MBA/MBI from Erasmus University Rotterdam.
                                                                                          Experienced management and top notch R&D: The company has a very strong R&D team of 45 highly qualified
                                                                                          people. The groundbreaking
 Steve Coutts: COO. Steve has two decades of senior management experience driving software operations in leading software developers have a wide range of component and OS engineering experience,
                                                                                          including industry-standard
 international companies such as CAE Electronics, Unisys-Paramax Electronics, Océ-Technologies, Spicer OS development (Linux, Digital VMS, THOTH, SCO UNIX and Chorus), as well as
                                                                                          university and industry-based research (Nemesis, Go!, Galileo and AIDOS).
 Corporation, and Mitra Imaging. Steve holds an engineering degree from the University of Waterloo, Canada, and an
 International MBA from the Schulich School of Business - York University, Canada.        Customer Traction: NexWave has successfully executed a first test bed for Philips Consumer Electronics.
                                                                                          Subsequent discussions and negotiations with Philips are taking place in order to secure a commercial relationship.
 Krishna Gopala: Executive Vice President. Held previously senior management positions in the IT, Telecom and CE
                                                                                          Recently the company started a test bed for Hitachi Japan. Other major Japanese companies such as Canon,
 industry including SVP and Global Head of Global Alliances for Philips. He spent his career working for Consumer
                                                                                          Mitsubishi, Sharp and NEC have shown strong interest to start test beds. Initial customer feedback confirms the
 Electronics companies and has a world-class network in the industry.                     revolutionary claims of the company.

 Emmanuel Marty: CTO. Founder and key developer of the software, 1995-1996 software engineer at UB Soft, idem
 at PIAS Interactive 1997, software (Linux) engineer at MNC SA 1997-1998, internationally recognised contributor to
 development of the Linux core software. Recognised as a world-class software developer.

 Patrick de la Malène: CFO. Has 15 years of experience most recently in London as CFO for a subsidiary of
 Lagardère. Joined NexWave in December 2000; Educational Background: Financial and Management degree (Institut
                                                                                                                                                                       Use of subheadings
 Commercial Supérieur, Paris).



  E Challenge – Executive Summary                                                                                                                                                                               10
                                  Microsulis
                                   Colour?




Rather dense
text




     Good use of highlighting

E Challenge – Executive Summary                11
Contents                                                                                                                                       Leisure Capital
                                                                                                     Page

1.0      Business Concept ........................................................................... 1

2.0      The Business Opportunity ............................................................... 2

3.0      Current Projects and Prospects ...................................................... 3

4.0      Market Demand............................................................................... 5     3.0   Current Projects and Prospects
                                                                                                                  There are currently eight projects in various stages of negotiation and development.
5.0      Flexible Membership Structures...................................................... 5                   Each project is unique in terms of the “slice” of the recreation market which has been
                                                                                                                  targeted. These projects are briefly described as follows:-
6.0      Principal Business Objective ........................................................... 7
                                                                                                                     (i)      A city business club on The Bund in Shanghai
7.0      Group Funding and Structure.......................................................... 8
                                                                                                                     (ii)     The refurbishment and conversion of an historic building to
                                                                                                                              approximately 60, one and two bedroom, hotel-apartments and private
8.0      Management ................................................................................... 8                     club in The Bund area of Shanghai
                                                                                                                     (iii)    The development of a business centre, business hotel and family
                                                                                                                              recreation club, sports and golf academy in a satellite new town
                                                                                                                              development called Autocity in Anting District, Shanghai
                                                                                                                     (iv)     A family recreation club in Bangkok adjacent to an exclusive new
Important Notice                                                                                                              residential housing development behind the Polo Club on Wireless Road
The receipt of this Executive Summary constitutes an acknowledgment that the information contained herein will
be maintained in confidence and will not be disclosed to any third party without the prior written consent of the    (v)      The development of an exclusive 40 dwelling “Owners Club” beach
Company. Neither this Executive Summary, nor any information contained herein, may be reproduced, in whole                    front resort in Koh Samui
or in part or used for any purpose other than for the addressee to evaluate an the investment with the Company.
Upon request, the recipient will promptly return all material received from the Company, including this Executive    (vi)     The investigation of two possible club developments in Beijing; one
Summary, without retaining any copies thereof or extracting information therefrom.
                                                                                                                              in the Finance Street Holdings development, as possibly a Bankers Club,
                                                                                                                              and the other a special interest group club (most likely a Motorsports
                                                                                                                              Club) in a new building located in the high end residential and commercial
                                                                                                                              CBD area. It is likely that only one of these projects will be undertaken
                                                                                                                     (vii)    The development of a motorsport club at the Formula 1 racetrack in
                                                                                                                              Shanghai
                                                                                                                     (viii)   The repositioning and relaunch of Golf and Country Club in Bangkok
               Use of Index probably                                                                                          a short distance just outside of the city.


               superfluous
                                                                                                     Use of numbering for clarity

      E Challenge – Executive Summary                                                                                                                                                                      12
                                  TICH Financials

                                  Set out below are the profit and loss accounts for 2004 and 2005 and the forecasts for
                                  the period 2006-2011, together with operating data.
China Heart Group                                                    2004         2005         2006         2007         2008         2009         2010         2011
                                  US$000s

                                  Patient services revenues             7,456      13,380       21,671       32,837       47,393       65,158        90,018      120,088
                                  Other                                   192           0            0            0            0            0             0            0
                                  Revenues total                        7,648      13,380       21,671       32,837       47,393       65,158        90,018      120,088



Summarised financial              Operating costs - external

                                  Operating costs
                                                                      -10,671

                                                                      -10,671
                                                                                   -15,345

                                                                                   -15,345
                                                                                                -21,391

                                                                                                -21,391
                                                                                                             -28,568

                                                                                                             -28,568
                                                                                                                          -37,747

                                                                                                                          -37,747
                                                                                                                                       -48,743

                                                                                                                                       -48,743
                                                                                                                                                    -63,702

                                                                                                                                                    -63,702
                                                                                                                                                                 -81,835

                                                                                                                                                                 -81,835


information                       EBITDA margin

                                  Depreciation
                                                                       -3,024

                                                                       -4,981
                                                                                    -1,965

                                                                                    -5,121
                                                                                                      280

                                                                                                 -5,242
                                                                                                              4,268

                                                                                                              -5,363
                                                                                                                           9,646

                                                                                                                           -5,605
                                                                                                                                       16,416

                                                                                                                                        -5,847
                                                                                                                                                     26,316

                                                                                                                                                     -6,210
                                                                                                                                                                  38,253

                                                                                                                                                                  -6,572

                                  Operating margin                     -8,005       -7,086       -4,962       -1,095       4,041       10,569        20,106       31,680

                                  Exceptional income                    4,127       3,869        3,628              0            0            0            0            0

                                  Profit before tax                    -3,878       -3,217       -1,335       -1,095       4,041       10,569        20,106       31,680

                                  Taxation                                   0            0            0            0      -1,175       -3,133       -5,994       -9,466

                                  Net Profit                           -3,878       -3,217       -1,335       -1,095       2,866        7,436        14,112       22,214


                                  EBITDA margin                         -40%         -15%           1%         13%          20%          25%           29%          32%
                                  Operating margin                     -107%         -53%         -23%         -3%           9%          16%           22%          26%
                                  Net profit margin                     -51%         -24%          -6%         -3%           6%          11%           16%          18%
Some financial analysis                                          Note: Exceptional income is subsidy received from the TEDA government under a 5 year
                                                                       agreement; the subsidy is treated as a loan from 2007 onwards

                                                                     2004         2005         2006         2007         2008         2009         2010         2011
                                  No of Inpatients
                                   - No of surgical operations            340         846        1,116        1,441        1,812        2,219         2,737        3,319

 Operating metrics                 - No of interventions
                                   - Other procedures
                                                                          340
                                                                          924
                                                                                      609
                                                                                    1,485
                                                                                                   974
                                                                                                 2,376
                                                                                                              1,462
                                                                                                              3,564
                                                                                                                           2,046
                                                                                                                           4,990
                                                                                                                                        2,660
                                                                                                                                        6,936
                                                                                                                                                      3,458
                                                                                                                                                      9,612
                                                                                                                                                                   4,323
                                                                                                                                                                  12,435
                                  Total                                 1,604       2,940        4,467        6,466        8,848       11,815        15,807       20,076

                                  No of outpatients                    13,498      29,576       38,449       49,983       62,479       74,975        89,970      107,964

                                  No of staff
                                   - Medical                                100          121          138          146          161          173          178          188
                                   - Nursing                                119          152          189          212          229          246          262          278
                                   - Administration                          95           96           97           98           98           98           98          103
                                  Total                                     314          369          424          456          488          517          538          569




E Challenge – Executive Summary                                                                                                                                              13
                                                       IMQ

                           “Affordable Communications - Anywhere, Any time”
                                                                                                           IMQ
                                         Executive Summary

          I.     The Company. IMQ is a mobile communications service provider ("MCSP") of
                 value-added products and services to the mobile users of China. Its present focus
                 is in mobile instant messaging and presence service ("IMPS") and related value-
                 added services (VAS). IMQ's products and services presently are in two main
                 inter-related segments:

                   IM gateway-client technologies - IMQ's OMA-certified IM gateway
                      server and client software to seamlessly integrate across the wireless and the
                      Internet networks enabling IMPS VAS to the mobile users (M2M and
                      PC2M- presence, IM (text) and Voice IM);

                   IM devices - design and development of IM phone, smarter phones and
                       other mobile devices embedded with IMQ’s Linux-based open-standard IM
                       client allowing ease to use built-in interconnectivity to our IM gateway.

          II. Reasons IMQ to be in the IMPS business. Founded as an independent smart
          phone design house in early 2003, the co-founders quickly saw the relationship between
          smarter phones and mobile VAS, therefore a window of opportunity and challenge in
          IMPS. We began development of IM server and client technologies in early 2004 for
          which we gained OMA certification for full compliance with IMPS v1.2 standards by
                                                                                                       Boring….
          10/2004; now readying for beta:
                               * leveraging on our in-house expertise. Our founders and key
                 executives
                        have direct experience in development of mobile phone and IMPS.

                                   * relative lack of dominant player and competition. The
          leading players
          are still relatively small - www.oz.com




E Challenge – Executive Summary                                                                                   14
                                What we want from you


      1. Initial Round – a 3 pager “Executive Summary”
            •   This should summarise the business concept, the product or service,
                the perceived market for it, and very broad details of the team and
                execution


            2. Semi-final round – a 5 page “Investment Proposition”
            •   This will amplify the initial outline of the Executive Summary to show a more
                mature consideration of the business implications of the business concept
            •   We also ask teams to present the business proposition in a 5-minute video
            •
            3. Final round – a full 30 page “Business Plan”
            •    This will present the full business idea including details of the market and
                 research into the product or service, financial forecasts and the plans for
                 the execution of the business plan (team, partnerships, supply and
                 distribution, etc.)
            •    The plans will be presented to the judges in open forum.


E Challenge – Executive Summary                                                                 15

								
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