Sharing opportunities f marconi_hlb asian pacific_bali 27062013

An international network of independent professional accounting firms and business advisers

Sharing opportunities

HLB International Asia Pacific Regional Conference

Bali, Indonesia- June 26-28, 2013

Francesco Marconi HLB Noda - Studio Associato De Vecchi - Milan - Italy

Sharing opportunities

Networking� Opportunities

� Contacts

� Common interests

� Meet and greet

� Share strategies

� Share ideas !!!!!

Sharing opportunities

South Eastern and

Arabic investments in

Italy are increasing,

targeting the acquisition

of brands in key Italian

sectors as fashion, food,

winery, IT- and techno-

logical capabilities.

The Marco Polo Effect

Foreign Direct Investment

Source: Reuters

Erick Thohir (Indonesia): businessman from Jakarta andco-owner of Atra International, interested in buying theItalian soccer team Inter.

Attractive Italy: acquisitions

Shandong Heavy Industry Group(China): Ferret Group; yachtproducer(acquisition supported by HLB firmin Rimini).

Li & Fung (China): Cerruti 1881;fashion label.

Hembly (China): Sergio Tacchini;sport brand.

Attractive Italy: acquisitions

Samsung (Korea)/ Cheil Industries Inc. (textile):Colombo via della Spiga; high-end leathergoods, Giuseppe Zanotti; shoes.

LG, division LG Fashion (Korea):Allegri; outwear.

Attractive Italy: acquisitionsE.Land (Korea): Lario; footwear group, owner of brands aswhich Sutor Mantellassi, Lorenzo Banfi, Mandarina Duck(bags), Coccinelle (leather goods).

Onward Holdings (Japan): Gibò; the Tuscan textile company,which develops the licensed collections for Michael Kors(woman), Paul Smith (woman), John Galliano (man and woman),Roberto Cavalli (man) Antonio Berardi (woman), Rochas(woman), Veronique Branquinho (woman) and shoes for Chloe,Marc Jacobs, Michael Kors, Veronique Branquinho, Rochas, NinaRicci and Jil Sander.

Attractive Italy: acquisitions

Mubadala (United Arab Emirates): shares inFerrari, Piaggio Aircraft and Poltrona Frau.

Qatar Holding (Qatar): great interest in Versace;already owning the UK department store Harrods.

Attractive Italy: acquisitions

Italian industrial clusters

The last 15 years have seen a progressive and markedgrowth in the number of clusters, favoured by nationaland regional legislation and by the average small size ofItalian companies, which pushes them to create organicand geographically close conglomerates of playerswithin the same supply chain/industry .

Italian industrial clusters

The Italian 3 FWe breath beauty growing up around beautiful monuments and

learning from handicrafts.For many respects the Italian economic system is an

Experience Economy ante litteram.

Experiencing excellence

TOURISMWith more than 33,000 hotels and 400,000 employees, the tourism sectoris one of the driving forces of the Italian economy. Accommodation,infrastructure and services, particularly with regard to transport andreception facilities are the strenghts for investments in our country .The country offers enormous potential for growth and exceptionalinvestment opportunities.

AUTOMOTIVEThis sector is a star performer in the Italian manufacturing arena, thanksespecially to the presence of large car-manufacturing companies (such asFiat, Ferrari, Alfa Romeo, Lancia, Lamborghini, and Maserati) and othermotor-vehicle manufacturers (Aprilia, Ducati and Piaggio) which create asignificant allied economy among small and medium-sized enterprises.

.

Experiencing excellenceLIFE SCIENCESItaly has a long and well established tradition of production andresearch in the life sciences sector .Over 400 pharmaceutical and biotechnological companies operatein Italy, both national companies like Menarini, Recordati, Zambon,Schiapparelli, Angelini, Bracco, Sifi and Sigma-Tau and local subsidiariesof foreign groups like GlaxoSmith&Kline and Bayer

CHEMICALFor many products Italian market ranks even second in Europe. Andmany chemical foreign owned companies have decided to place heretheir strategic basis to manage operations in Southern Europe. Thequality of research and widely recognised scientific expertise are animportant attraction, especially in fine and specialised chemistry.

.

Experiencing excellenceAEROSPACEItaly is a world leader in helicopter manufacture, a European leader inflight-training planes and a principal performer in the development of newconcepts.Piemonte is the more specialized region in aerospace industry

RENEWABLE ENERGYThe photovoltaic industry is growing rapidly and should grow further inthe near future. Attractive feed-in tariffs and favourable climaticconditions are the main drivers of this industry Investments fromEuropean groups are increasing, especially in southern regionssuch as Apulia and Calabria

.

Fashion & luxuryWith revenues of EUR 48 billion, 70,000 companies and 700,000workers, Italy has the most active fashion and luxury industry in theworld .If we say "Italian Fashion“, most people probably will think first of Milan.But in fact fashion in Italy means much more than a single city orregion . Because so much of Italy's fashion production - textiles, apparel,shoes, accessories, etc. - takes place in small factories and craftworkshops scattered around the country .

Besides a few large players the market is characterisedby a large number of small and medium-sizedenterprises often operating in market niches.

These companies are rich in the creativity andtechnological skill which are the strategic factors in theworldwide prestige of Italian fashion.

Mergers&Acquisitions

Source: Institute of Mergers, Acquisitions and Alliances (IMAA)

Italian sizes

Italy has a smaller number of world class multinational corporations thanother economies of comparable size.

Instead, the country’s main economic strength has been its largebase of small- and medium-sized companies . Some of thesecompanies manufacture products that are technologically advanced andtherefore face increasing competition from China and other emergingAsian economies which are able to undercut them on labour costs.

These Italian companies are responding to the Asian competition byconcentrating on products with a higher technological cont ent ,while moving lower-tech manufacturing to plants in countries wherelabour is less expensive.

Invest in Italy

Invest in Lombardy

Lombardy remained close to the group of the ten mos t attractive regions of Western Europe .

Milan ranks 8th among Western European cities by nu mber of the inbound investment projects during 2003-2012 decade and it is ahead Amsterdam, Berlin, Vienna, Stockholm, Brussels, Düsseldorf, Copenhagen, Zürich and Hamburg.

HLB Italy

Studio Associato De Vecchi set up on November 25th 2009, theprofessional network HLB Consultants Italia, in partnership with fourimportant Italian accounting firms and business advisers and payrollexperts. In April 2013 HLB Consultants Italia launched the new brand andcompany’s name : HLB NODA

HLB NODA collects together 38 partners, with a number of staff around 200 people and with a turnover to approximately € 12 Mil. per year.

2009 5 firms: Milan (National Secretariat), Venice, Rimini, Catania

2010 2 new firms in Turin and Olbia ( Sardinia)

2011 1 new firm in Pescara

2012 1 new firm in Rome

2013 2 new firms in Naples and Avellino

01.07.2013 HLB Italy China Desk

What we doAccounting

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Business Recovery

Business Structuring

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Learn more about us

Studio Associato De VecchiVia V. Monti n. 820123 MilanoT: + 39 02 48100471info@studiodevecchi.com

http://www.studiodevecchi.com

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Contact Partner Francesco Marconif.marconi@studiodevecchi.com

Communications ManagerSonia Spagnols.spagnol@studiodevecchi.com