Interview: Simon Harding-Roots, Chief Operating Officer, Treasury Holdings China

From its origins in Ireland, the Treasury Holdings Group now operates globally, across two continents and in seven countries. The Group continues to lead the way in identifying and capitalizing on ever-changing global property trends. Established in Dublin in 1989 by John Ronan and Richard Barrett, Treasury Holdings has been a pioneer in the property sector, and has consistently been ahead in identifying and capitalizing on property trends.
Treasury Holdings now controls over 131 individual real estate projects with a combined value in excess of $4.6 billion. The gross development value of the Treasury Holdings Group's projects is over $19 billion.
After its success in Ireland during the 80s and 90s, in the early part of the decade Treasury Holdings began to focus its attention on global property development and investment markets with particular emphasis on China.

As noted by Mr. Simon Harding-Roots, Chief Operating Officer, Treasury Holdings China, today, the company is one of the largest Western developers and investors in China.
“Through our considerable experience in urban development, we endeavor to bring uniqueness to every project under consideration. In addition, Treasury's considerable asset management experience has enabled it to improve existing property assets through active administration of the investment property portfolio.
He joined THCL with over 20 years of international property development experience. A qualified Chartered Surveyor (RICS) he specializes in delivering major mixed use projects. Following 8 years in Dubai where he was responsible for some of the region's most successful retail led mixed use schemes for a leading development organization, Simon spent two and a half years with an international investment and private equity firm in Bahrain establishing their development portfolio. This included the award winning 'Bahrain Bay' waterfront scheme, valued at $2 billion.
He noted that the company intends ultimately to locate one-third of its worldwide activities in the Chinese market. Treasury plans to become fully integrated into Chinese business and culture and to be the most successful Western property company operating in China.
Benefiting from Treasury Holding's synergistic combination of sophisticated Western management practices and the intimate local market knowledge and extensive network developed through its presence in China since 2005, TCT has successfully assembled a high-quality portfolio of income-producing commercial real estate and development opportunities located in China's financial and political centers of Shanghai and Beijing.
Treasury has four offices in China: in Shanghai, Beijing, Qingdao and Hong Kong. Treasury Holdings is currently building a high quality mixed investment portfolio with its main concentration on acquiring excellent buildings or sourcing development opportunities in prime locations. It is currently concentrating its search for development and investment opportunities in the first and second tier cities in China, he said.
“Foreign investment remains a strong element in China's remarkable expansion in world trade. This is in part due to the way in which the Chinese government has opened up previously closed sectors of the economy in line with World Trade Organisation requirements,he said.
The Company currently manages 3 separate investment projects in office and retail sectors located in Shanghai. Due to its long-term investment outlook, it is now a driving force in China and is identifying many exciting development and investment projects. The combination of western development management skills, together with the scale, local knowledge, and strength of local partners makes a powerful team, he said.
Mr. Harding-Roots pointed out that to enable Treasury to take advantage of its position as the predominant western developer in China and offer western shareholders a unique opportunity to gain exposure to the burgeoning Chinese property market, the Company established China Real Estate Opportunities (CREO), which listed on the AIM market in London in July 2007, having successfully raised ｣259 million.
On June 21st this year, the company moved CREO's listing to Singapore, betting that investors there will better appreciate the portfolio of the Chines property assets. CREO shareholders were offered five units of Treasury China Trust (TCT), a Singapore-based business trust for every CREO share they held. TCT was then listed on SGX by introduction.
TCT provides a comprehensive platform of proactive management and through its dedicated team, numbering more than 70 on the ground in China, delivers out-performance across all elements of real estate ownership, asset management and development capability.
This combination, unique to the Chinese market, underwrites the company's commitment to a total return business model which exposes its shareholders to a broad operating platform and diversifies risk across its asset classes and revenue sources and through its development arm creates strong accretive income growth, he noted.
He said that the company's strengths are: Unique and exclusive focus on commercial real estate in China with strong opportunities for both income and capital growth; Exposure to key gateway cities in China; Long term commitment to the China market; Successful and proactive asset management of the portfolio by Treasury Holdings, thus benefiting from its extensive experience as a high quality, global property developer and investor; and, strong pipeline of investments for revenue and balance sheet growth
Speaking on the main challenges, he noted that in the real estate market, supply of land and building is the most frustrating thing, as is the ability to get experienced staff.
Since the company is focused on China, Seoul is still out of sights for the company at present.

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Interview: Mr. Youn Jang-bae , President, Korea Agro-Fisheries Trade Corporation

By establishing leading export groups and cultivating professionals, Korea Agro-Fisheries Trade Corporation (aT) enhances the export competitiveness of Korean agricultural and fishery products and provides consulting and marketing support.
For Enhanced Export Safety of Agricultural and Fishery Products, aT strives to maximize export safety through the adoption and equalization of internationally-accepted GAP, ID management for fresh agricultural products, and strategic safety management by inviting inspectors from overseas.
Agro-Trade is an Internet Trade Mediation System that develops and expands overseas markets for export companies. aT also plays a leading role in providing information services, such as KATI, which provides information on the export of agricultural and fishery products on the Internet.
Moreover, aT’s nine aT Centers in six countries around the world play active roles in supporting the export of Korean agricultural food products.
Excerpts of interview with Mr.Youn Jang-bae, President, Korea Agro-Fisheries Trade Corporation:

>Founded in 1967 as Agriculture & Fishery Development Corporation for balanced development of agriculture and industry, it was renamed as Agricultural and Fishery Marketing Corporation (AFMC) in 1987 for the settlement of marketing and promotional functions. In 1992 we expanded the export promotion program and suggested reinforcement of competitiveness by developing export system of agriculture and fisheries in the era of trade liberalization.
Our purpose is to stabilize the food supply by price stabilization and improve distributional system so we can improve farmers’ profit and develop national economy in balance.
We have been undertaking following four projects: 1) Export promotion: Foundation/production of base of export items, opening up the global market, commercialization of export items, and etc. 2) Marketing innovation: Operation of cyber agricultural and fisheries product exchange, activation of wholesale market, and support for local producers and retail market. 3) Price stabilization: Meet demands and supplies by buffer stock and inter-Korean agricultural cooperation. 4) Food industry support: Create new growth power of agriculture by activation of food companies, establishment of infrastructure, and globalization of Korean food.
>Export situation has not been ideal due to the drop of exchange rate lasted since the beginning of this year, bad crop caused by temperature changes, and global economic depression caused by European crisis. As of May 31st, we recorded $2.1 billion, 23% increase compare to 2009: farm products $ 1.286 billion (23%), forest products $0.075 billion (106%), fishery products $0.686 billion (18%).
For fresh products, production of vegetable and horticultural products has been inactivate due to the unusually low temperature, however, it’s per item cost have increased according to the decreased production of Japan, the main target: vegetable $69 million (15%), flower $30 million (44%), fruit $52 million (27%).
Export of mushrooms, enoki ($7 million) and king oyster ($4 million) particularly, is decreased and congested due to the inactive export situation to counties like China and Hong Kong. For fishery products (tuna $143 million, halibut $21 million, oyster $36 million) and process food such as sweets ($104 million), drinks (beverage $39 million, liquor $105 million) export rate is increased according to the economic recovery of China, Russia, and Southeast Asia as well as their attempt for opening a new market.
The export rate has been increased according to the active economic growth of main exporting countries such as China ($281 million, 55%), Russia ($98 million, 27%), Japan ($675 million, 11%), U.S.A ($204 million, 16%), EU ($130 million, 83%), Hong Kong ($91 million, 26%), Taiwan ($57 million, 29%) and ASEAN ($ 245 million, 32%).
>It took 20 years to increase the export rate of agricultural products from $3 to 4 billion, however, 2 years to raise up to $5 billion. In the past, Korea’s export was mainly on primary industry products, only dealing with so many countries like Japan and dependent on the quota. But recent export is expanded to high value added products such as process food, and our effort for opening up a new diverse export market has made a great contribution.
We strengthened the stable supply system of high quality agricultural products by scaling up and systematization of production in poor situation started from economic crises in 2008. In particular, we expanded and modernized the facilities like constructing glass houses, established 19 export-specialized organizations and 16 advisory committees to consolidate our control power in the global market.
Also, we have been implementing new marketing strategies for large sales, expanded customer range from overseas Korean markets to local markets, and concluding MOUs with major supermarkets (8 countries, 22 companies) to push ahead with the direct export. The partners who signed MOU with aT center include; Melissa’s, Titan Foods, Rhee Bros, H-mart, CGC Japan, Marche, Lotte mart, RT mart and etc.
We are also aiming to contact China and Southeast Asian market that have great potential. The export rate to China recorded the greatest increase from $336 (′06) to 565 million (′09), 68% increase. The changes of export rate in Southeast Asian countries are as follows: 1) Hong Kong- $159 (′06) to 196 million (′09), 23 % increase, 2) Taiwan- $110 (′06) to 155 million (′09), 41% increase. For ASEAN, the rate increased from $267(′06) to 521 million (′09), 95% increase.
Rapid growth of export has been considered as a result of our intensive focus on systematic export policies including establishment of strategies for accomplishing $10 billion and strengthen export support systems.
>Due to the different food cultures, it is very difficult to enter the liquor market in EU and it is limited to the Asian markets only. It takes about 6 to 10 months for the store location as well as requiring costs.
Hence, we are going to implement the following long and short-term strategies to promote Korean food products in EU region:
1) Participate in exhibitions for health and restaurants reflecting European health trend and organize promotion events in major retail stores across the Europe.
-Exhibitions: Bologna, Lyon, Cologne, Barcelona, Brussels
-Promotion events: England, Germany, France, Austria
2) Promote a co-marketing strategy with major food companies succeeded in local market-Cj and Daesang, to lead into an expansion of export.
3) Conclude MOUs and promote co-marketing system with major local retailers to take over the local market directly in a medium and long term, and help Korean agricultural products to enter into the local European markets.
-Provide product information, select promising items, organize systematic sampling promotion events for major retailers who signed MOU.
-Organize general promotion exhibitions linked with Wahnamhong (Chinese, 15 stores) in Europe
-Expand the location of Korean food store in ASDA, the major liquor retailer in England: 2 units (Nov. 2009) → 4 units (April. 2010) → 50 units (by end of 2010)
The Korean government and aT center is going to constantly push forward with the political support reflecting the food safety and health interests for the Europeans. Also, we are aiming to increase the export rate from current rate of 6 to 10 percent by 2012 eventually.
>We are going to focus on establishing infrastructure, training professional manpower, and supporting overseas expansion of Korean restaurants for this year’s Globalization of Korean project. Our useful networks, including Korean Food Foundation, Korea Tourism Organization and KOTRA will fulfill their roles to contribute to the project.
Also, we aim to activate the globalization of Korean food related to our professional function. That is to vitalizing the export of Korean food products, supporting with consultative groups for Korean restaurants using aT center in overseas, and providing promotional project such as developing manpower.
>Korean food, with excellent fermented food, is considered as high quality and healthy food. Kimchi, ginseng and citron tea are the most famous food that are healthy and low in calories. In particular, kimchi has been chosen as one of the world’s top five cuisines which is effective in preventing SARS (severe acute respiratory syndrome) and many other disease. Meanwhile, Yuichiro Miura who conquered Mt. Everest in the age of 70 revealed that he packed 30kg of kimchi and ate kimchi stew to fight with a cold weather when he climbed the mountain.
Modern people are not only sensitive to its taste, but also prefer health food. In this context, Korean food is ideal for the modern food trend. Recently, consumption of meat has dropped due to the booming in healthy, fresh and organic food. Considering that people prefer to buy more beans, fruits, and vegetables, Korean food are the most ideal food with its outstanding taste and quality.
Since western countries are paying more attention to Korean food, I would say we are going to try to discover and export our superb products that will attract more interests of not only Asians, but the whole overseas countries. aT center will also put our best effort for the effective marketing strategies to create new markets and sustainable demand.

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Interview: Mr. Massimo Roj, Founder and Managing Partner, Progetto CMR

Founded in 1994, Progetto CMR has developed a significant experience in the planning and realization of Corporate Interiors. While concentrating on this core activity, its range of consultancy has gradually expanded. Integrated design has always been the strong point of its approach.
Clients are offered a qualified team of 80 professionals with different core competencies, organized into six divisions: Architecture (Building Design and Corporate Interiors), Engineering, Health and Safety, Industrial Design, Process Management, Research and Development.

As noted by Mr. Massimo Roj, founder and Managing Partner, Progetto CMR, the company represents the ability to think and design in an innovative way for the various scenarios and elements of the workplace, with customer satisfaction playing a primary role. For this reason, the company was ranked among the 100 Worldwide Best Architecture Firm in 2010.
“It works in partnership, guaranteeing constant high quality in the consultancy, integrating technological development and research in order to create a satisfactory and stimulating future,he noted.
Mr. Roj, studied at the Polytechnic University of Milan where he graduated in Architecture and has been registered Architect in Milan since 1986. From 1982 till 1984 he worked with Spinelli Architects in Milan contributing to the development of the MO-CO Building System for hospitals in Daytona (Ohio - USA), and Kuritiba (Brazil).
In 1984 he joined R. Morisi Architects working on the project for the San Benedetto del Tronto Stadium and for a Business Centre in Kuala Lumpur, Malaysia. From 1986 he worked with Architect Franca Helg in Milan for interior architecture and planning projects; at the same time, for 3 years, he held courses on "Architectural design" as university assistant at the Polytechnic University of Milan.
He noted that as freelance architect, he developed projects for private and public clients, both residential and commercial buildings, among which the restructuring of the baseball Stadium in Milan.
In 1988 he joined an international company specialized in space planning, where he was Project Manager and Project Architect in charge for projects for COMIT, Sun Microsystems, Eli Lilly, Bosch, Dideco, London & Edinburgh Trust Plc, and for the development of the most advanced Software Research Centre for Olivetti O.I.S.R. in Bari. He planned the reallocation project of an area from industrial to office buildings, as new headquarter for some companies of the Assicurazioni Generali Group, in Mogliano Veneto (TV).
“In 1994, I founded my own firm Progetto CMR in Milan where I am in charge as managing partner, opening offices in Rome, Athens and Tianjin, today the leading companies in office space environment,he said.
Mr. Roj developed architecture, space planning and interior design activities, dealing with projects such as: Coca-Cola, Honeywell, Eli Lilly, Ciba Vision, BIC, Montedison, Medtronic, Johnson Controls, BMG Ricordi, Digital, Pioneer, Iri Infoscan, Bayer, Gillette, Heineken Italia, Munchener Ruck.
He is Client leader also for Italian Government: Italian Chamber of Deputy, Presidenza del Consiglio dei Ministri and Lombardia Region, for whom he is responsible for the project of rationalization and reallocation of spaces and for the new image definition. He also developed industrial design projects especially thought for the office such as lighting systems and desks for the companies Artemide, Technolyte, Targetti, Martini, Luxo, Estel, Elitable, Las.
He has been speaker at different symposiums and teacher for several courses as a specialist in office habitat and office planning. Since 1996 he has been holding courses on Space Planning Architecture and Building Management at the Architecture Polytechnic University of Milan. Recently he has also started giving lectures at the University of Tianjin.
He also observed that the company is the Italian partner of the HOK European Architects Network. This partnership offers the knowledge of local and the appeal of working with well-established European practices supported by the delivery capacity of HOK's worldwide organization.
“Progetto CMR is formed from six operating areas: Architecture, Engineering, Health and Safety, Industrial Design, Process Management and Research and development. Thanks to our unusual multi-disciplinary approach, offers optimal space planning for the workplace providing full satisfaction of the user's requirements in terms of management, services and plant, and computer networks; and above all, a particularly well-management cost-containment policy,he said.
Speaking on the activities in Asia, he noted that at present the company is focusing on China, for both the public and private sector projects. With the cooperation of Italian and Chinese architects in China, the company has involved in various projects including a seven-star hotel in Jilin Province, a residential master plan in Tianjin, Cobra's new production plant in Beijing and a 30,000-seat stadium for the Songjiang group.
The company also won the competition for the 'Caohejing Hi Tech Park' in Shanghai, with an area of 170,000 square meters it is located west of the city. The project involves the construction of a commercial district which will house offices, a residential complex, hotel, a research center and related services.
Special attention to the environment has been taken into consideration in the design incorporating plants in order to reduce and save energy. the large amount of green space is the heart of the project. To lower the density of visible construction and significantly increase the area devoted to green, the project foresees the creation of 'hills' below buildings which require less direct light, such as businesses, shopping centers, boutiques, sporting centers, restaurants, bars and a lobby.
Mr. Roj noted that the company will hopefully win many more projects and make its presence felt in a difficult market which had immense potential.Today around 25 percent of the total income accrues from the Chinese market.
"The reason behind our success is the constant dedication both to our customers and to final users. My goal is to make customers' ideas and dreams a reality. However this is not sufficient in itself, as the spaces we plan are meant to be occupied by people. Whenever we imagine and design working and living spaces we always keep in mind who and how will inhabit them. These are economic concepts, not philosophic ones" he said.
He noted that offices and residential buildings are not exercises in style. For this reason he plans from the inside to the outside; that is to say, the building envelope is the result of an analysis of the needs and aspirations of the people living within it.

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