Mr Ranjit Thmabyrajah, Chairman and Chief Executive Officer of Acuity Funding, delivered the Keynote Address at the official launch of the Financial Association for Industrial Parks (FAIP) in Vietnam on 16 January and has been invited to be an Executive Advisory Member of the Board of FAIP.
Here’s an edited version of his speech.
The Financial Association for Industrial Parks (FAIP) is an organisation that will change the industry establishing and managing Industrial Parks throughout Vietnam and I am honoured to participate in its launch.
“Difference” – I believe that is why Acuity Funding has been so successful in Vietnam. We have recognised the current problems in the supply of money in Vietnam and have structured loans and investments that help overcome these problems.
I would like to discuss the points of difference between us and others in our industry:
- We put the community first.
- We are not influenced by any political pressures from other countries.
- Our mandate is to look for opportunities that will have long-term social benefits for the people.
- We have a long-term view on all our loans and investments.
- Our interest rate is pegged to the US treasury rate and is immune to local economic pressures.
- Our loan terms can be as long as 40 years on qualifying transactions.
- We reward developers and businesses by recognising increased asset values based on improvements created to Land Use Rights and already completed construction work.
- We recognise the uplift in values experienced by securing quality tenants and sales achieved to third parties.
- We protect the interest of the public associated with buying into projects funded by us.
- We protect the interests of Real Estate Agents associated with projects funded by us.
- Our loans are based on gross value, not cost based, as it is most lenders.
About Acuity Funding
I have been in the finance industry for more than 40 years and I freely offer this experience to all our clients for their transactions.
I am excited to announce that Acuity Funding is now the biggest Private Credit provider in Asia Pacific and is expected to be the largest in the world in the near future.
I established Acuity Funding in the early 1990s to monopolise on the deregulation of Australia’s Finance Industry. We have been recognised as number one in our industry for more than four consecutive years.
Acuity Funding has been active Internationally for over 20 years. It is now the largest company of its type in Australia and the Asia Pacific. Our current project sizes, in the Asia Pacific Region, range from $US100 million to about $US12 billion per project.
We are well positioned to assist with the funding and development of industrial parks in Vietnam.
Despite the impact the COVID Pandemic, Acuity Funding continues to enjoy unprecedented growth year on year. This is a credit to my dedicated team of experts and our ability to plan, evolve and thrive.
All of Acuity Funding’s business is derived by referrals from satisfied clients, banks and industry experts, worldwide. This is proof that we are doing the right thing by clients, banks and various expert groups that have referred work to us.
Acuity Funding also participates with Local Governments in social-minded investments in Vietnam, Africa, USA, India, Bangladesh, Maldives, Sri Lanka, Australia, Malaysia, Fiji, Papua & New Guinea and China.
We offer Vietnam and its businesses a variety of skills, to make their projects a success, including:
- Arranging debt finance,
- Securing investors,
- Providing project management,
- Providing technical expertise,
- Connecting our clients with buyers for their commodities and products.
We do this to help Vietnam in its journey toward internationalisation. We give Vietnam and our clients access to sufficient capital for their planned socio-economic growth and to be recognised as the world-class power it is.
Acuity can help with the funding of businesses involved in:
- Industrial parks,
- Large-scale property development,
- Transport and logistics,
- Defence & aerospace,
- Pharmaceutical industries,
- Waste management,
- Chemical based industries,
- Petroleum and gas,
- and many other industries.
Vision for Vietnam
My investors and I are seeking to assist fast-emerging countries such as Vietnam develop their infrastructure to enable growth. Our commitment to Vietnam is definite.
Acuity Funding has secured commitments for more than $US100 billion for approved projects in Vietnam. I am committed to helping make Vietnam a world class economy. I want to see Vietnam successfully transition from being seen as a country that provides cheap labour and cheap production to becoming a country providing the world with a range of world-leading technical services and know-how.
I have been observing Vietnam for over 40 years with admiration and respect. Now is the right time for Vietnam to thrive and be recognised as a world -class economy.
Vietnam’s development, over the past 40 years has been extraordinary, second to no other country in the world and this is a great credit to the people of Vietnam and its leaders. Vietnam’s leaders have successfully taken this once war-torn nation and made it the marvel of the whole world, outgrowing their neighbours and, in fact, the remainder of the world.
It is now one of the most desired destinations in the world for businesses to invest and tourists to enjoy. The way the leaders of Vietnam have dealt with the pandemic is only one example of the commitment the government has to see the people of Vietnam survive and thrive. It has also shown the world unparalleled economic growth during this period, making it the focus of many neighbours and developed countries.
Vietnam’s leaders have shown the world how capable Vietnam is by skillfully managing Western and Eastern business cultures to ensure that Vietnam and its people have benefited. Vietnam is now possibly ranked as the number 1 country in the world for growth and investment.
Vietnam is on the verge of another economic explosion, and I feel very honoured to be given this opportunity to be part of this journey.
What I most like about the Vietnamese culture and government policy is how Vietnam’s leaders have focused on the advancement of the whole community. Private businesses in Vietnam are blessed to be under such strong and mature leadership.
I have studied the project developments that have occurred over the past 10 years in this country and have very much appreciated the socially-minded planning policies of the Government.
This is why I want to participate in the growth and development of Vietnam. I now find myself thinking of Vietnam as my second home. Recently I even found myself supporting the Vietnamese Football team in matches.
I was born in Sri Lanka and reside in Australia. I identify strongly with the people of Vietnam and I find that I can easily fit into its culture. Vietnam’s culture strongly resembles my family’s and Sri Lanka’s social culture.
In my 40 plus years of experience, I can say that I have not experienced a more progressive nation that has balanced traditional values with modern funding concepts to ensure infrastructure growth, including the growth and development of many industrial parks so that Vietnam can keep pace with the growing needs of its nation.
Funding for Industrial Parks
Acuity is currently working on many industrial park projects in the world including more than five in Vietnam at various phases of their development including:
- A completed and operating park requiring refinance;
- A few half-built infrastructure projects on partly cleared sites requiring more money to complete;
- Some projects needing Acuity’s involvement at an early stage to obtain investment certificates and land compensation.
Acuity Funding is helping Vietnamese developers with industrial projects in the US and Australia. Our innovative approach and extensive experience allow us to offer support at any stage of a project with a variety of collateral and funding solutions.
We provide Vietnam with progressive and user-friendly credit policies. Acuity Funding’s strength and passion is to help all their clients and their projects to be successful.
We assist with sourcing preferred equity participants to assist good projects that need equity to qualify for loans. We can consider alternative forms of equity and/or serviceability, for example, bank guarantees, etc.
Our typical loan terms are 10-40 years including a 3-5 year grace period from payments. This is a much-needed credit policy for developers of any coutry and will help make their projects safer, profitable, and successful.
Our policies will remove unnecessary cashflow pressures currently being experienced in most industries.
Acuity Funding enjoys good relationships with local banks. We are not seen as the banks’ competitor, but as their partner to provide a different range of financial services that are currently outside their credit policies of major banks.
Our lending policies help local banks rescue their bad debts and turn them into successful projects.
Most of our current clients were happily referred by banks.
In 2024, Acuity Funding will roll out some innovative funding packages in collaboration with the big banks and government to give Vietnam further funding options to promote success while helping the whole country and its people.
This year Acuity Funding will release new and seamless policies for the safe movement of cross-border investments. We will use our own SWIFT code and systems to ensure the safe and tracked delivery of funding to our projects that will be fully compliant with the authorities.
Our solution for the development of industrial parks includes the provision of:
- Much-needed financial support,
- Experienced world-class project management,
- Technical know-how, and
- Help with design and construction.
We have over 40 years experience that will help projects to achieve world-class outcomes. Mr. Thambyrajah, at the conclusion of his speech, acknowledged: Mr Viet Anh, Acuity’s Vietnam Director, Dr Le Minh Nghia, Chairman of the Vietnam Financial Consultant Association, Dr Phan Huu Thang of the Financial Association For Industrial Parks, delegates from the Ministry of Home Affairs, the Vietnam Financial Consultant Association, FAIP, Dr Can Van Luc, Mr. Morimoto Yutaka, Mr. Kim Jung In.