Wednesday, 7 December 2016
Registration and refreshments
Opening keynote address
Mei Hua Wang, Vice Minister of Economic Affairs, REPUBLIC OF CHINA
Ming-Hsin Kung, Deputy Minister of National Development Council, REPUBLIC OF CHINA
Private equity in Asia: How can Taiwan get on board?
Despite the negative headlines, most Asian countries remain appealing destinations for private equity investors and continue to attract capital. With a new government in place, Taiwan is also keen to revitalize its economy through investments from foreign and domestic sources, private equity included. Experienced dealmakers examine private equity trends across Asia and share their outlook for Taiwan.
- Which countries and sectors are attracting the most PE investments and what can Taiwan learn from them?
- What are the latest policy and regulatory developments and will they be favorable to foreign private equity investing in Taiwan?
- How do economic, geopolitical, and forex risks stack up?
- How can private equity help strengthen Taiwan's global and regional links?
Moderated by: Howard Lam, Partner, LATHAM & WATKINS
Melanie Nan, Managing Director, CDIB CAPITAL INTERNATIONAL CORPORATION
Jim Tsao, Chairman and Head of China, PERMIRA ADVISERS (CHINA) LIMITED
Jonathan Zhu, Managing Director, BAIN CAPITAL
Corporates and private equity: Partners in M&A
Successful Taiwanese companies are looking to buy assets outside their home markets to grow and diversify themselves from potential domestic slowdowns. Meanwhile, foreign investors are looking acquire Taiwanese manufacturing skills, their advanced technology, and an established track record of successfully penetrating key Asian markets. However, these cross-border deals are, like elsewhere in Asia, difficult and full of challenges including regulatory, political and integration issues. Our panel discuss how private equity firms may well be a corporate investor's best friend when conducting cross-border M&A.
- What is driving cross-border deals? Where are the best opportunities?
- How can private equity help Taiwanese companies expand overseas?
- As more GPs seek control deals, will better-positioned local firms create more value, and, in the process, create win-win partnerships with international GPs?
- What are the options and challenges in financing cross-border deals?
- What are the post-deal integration challenges, and how do successful fund managers deal with them?
Moderated by: Sonia Sun, Partner, KPMG LAW FIRM
Sonny Chan, Executive Director, THE LONGREACH GROUP
CY Huang, President, FCC Partners
Frank Kuo, Senior Vice President, Head of Financial Advisory Services, YUANTA SECURITIES
Gordon Shaw, Managing Director, BARING PRIVATE EQUITY ASIA
Value creation using private equity and the capital markets from the corporate and GP perspective
This session will feature two in-depth case studies on how Taiwanese companies can unlock their true potential. The cases will focus on the considerations and challenges in privatizing a TWSE-listed company, the issues that arise when relisting and how private equity investors can work with the company to navigate challenges and create value. Our diversified panel will feature one of Taiwan's top bankers along with the chairman of a technology company that successfully privatized and relisted on the TWSE, as well as, a partner from of the world's leading private equity firms.
Moderated by: Alex Lee, Founder and CEO, QUANTUM INTERNATIONAL CORPORATION (QIC)
Allen Han, Partner, CVC CAPITAL PARTNERS
Raymond Liang, Founder and Chairman, PRIMAX ELECTRONICS. LTD
David Chen, Vice Chairman, CHINA DEVELOPMENT INDUSTRIAL BANK
Riding the wave of tech consolidations
Taiwanese companies are turning to M&A as an opportunity to enhance their strong R&D capabilities, expand market share and counter shrinking margins. According to Mergermarket research data, M&A involving Taiwanese tech companies topped US$7.3 billion, the highest value on record. This Taiwanese-driven M&A spree is expected to continue as the new government continues to push out initiatives to upgrade Taiwan's technology sector back to its heyday. Our panel discuss:
- How has the tech M&A market developed? How will the trend develop over the next three to five years?
- What are the biggest challenges for Taiwanese companies conducting M&A?
- How can private equity play a role? Are they partners or competitors to corporate strategic acquirers?
- Has the government's M&A fund for offshore acquisitions helped?
Moderated by: Jesse Chen, Director, KPMG DEAL ADVISORY
Dennis Chiang, Head of Merchant Banking Division, TAISHIN INTERNATIONAL BANK
James Hsu, Executive Vice President, CDIB CAPITAL, President, CDIB CAPITAL HEALTHCARE VENTURES
Charles Pan, Chief Strategy Officer, MIGME
VC Ecosystem 2.0: Internationalizing Taiwanese startups
Taiwan's technology sector has been buzzing again recently. With the government showing strong support for innovative ideas, a history of proven R&D capabilities and a massive pool of capable entrepreneurs, Taiwan has all the ingredients of reestablishing itself as a major tech hub. However, with some exceptions, most Taiwanese start-ups lag behind their regional counterparts in terms of international presence and execution. What is missing from their strategies and how can investors help? Our panel of global and local tech investors discuss how to ramp up Taiwan's VC ecosystem.
- How developed is Taiwan's entrepreneurial space? How do VCs rate it against other markets?
- What new government polices and initiatives are in the pipeline? How will these benefit Taiwan's VC ecosystem?
- Can local and outside VCs collaborate? How can VCs help local start-ups expand outside Taiwan?
- How can Taiwan build its Silicon Valley? What lessons can be applied?
Moderated by: Jesse Chen, Founding Chairman, SVT (SILICON VALLEY TAIWAN) ANGELS; Chairman, GLOBAL MONTE JADE (1998-2000)
Carmen Chan, Founder & Managing Partner, CLICK VENTURES
Tina Cheng, Partner & Chief Rep of Taiwan, CHERUBIC VENTURES
Richard Hsu, Managing Director, Southeast Asia Fund, SUSQUEHANNA INTERNATIONAL GROUP (SIG)
Jackie Yang, Co-Founder and Managing Director, TRANSLINK CAPITAL
Networking coffee break
Case study: From startup to IPO
The startup scene in Taiwan is amongst the most promising in Asia. Smart entrepreneurs, a rich history of technological innovation and a tremendous ecosystem of public and private resources are key ingredients for success. However, in reality, how many startups really succeed? This case study highlights the journey of a company from startup, through multiple fundraising rounds and finally to an IPO exit.
Moderated by: Jamie Lin, Founding Partner, APPWORKS; Chairman, TAIWAN INTERNET AND E-COMMERCE ASSOCIATION
Ming Chen, CEO, KKDAY
Ben Tseng, Founder & Chairman, NET PUBLISHING CO., LTD.
Generating alpha through a global private equity portfolio
The continued market volatility and political instability has rocked the public markets and caused a number of currencies to fluctuate throughout 2016. However, it is business as usual for the versatile private equity asset class, which have turned such challenges into opportunities. In particular, LPs in the region, including the increasingly vibrant and outward-looking Taiwanese LPs, have taken the opportunity to diversify their investment portfolios to create better returns in the long run. Our panel of experts discuss why private equity remains an attractive asset class, what strategies to employ and how to build up the portfolio in the current investment climate.
- How are geopolitical and macro-economic factors affecting investment strategies?
- Which sectors and regions will provide the best opportunities for LPs in 2017?
- How does private equity compare with other alternatives in the risk/return tradeoff?
- Are infrastructure, secondaries and real estate safer bets than traditional private equity?
- The LP view on Taiwan: the investment environment, the PE opportunity and the local GPs
Moderated by: Andy Tsai, Partner, STEPSTONE
Lucian Wu, Managing Director, HQ CAPITAL
Tetsuya Tabata, Head of Private Equity/Infrastructure Investment, SUMITOMO MITSUI TRUST (HONG KONG) LIMITED
Jason Chenghsien Tsai, Professor of the Risk Management and Insurance Department; Director of Research Center on the Sustainable Development of Insurance Industries, NATIONAL CHENGCHI UNIVERSITY
Myron Zhu, Co-Head of Private Equity Asia Pacific, ABERDEEN ASSET MANAGEMENT