Who we are

The founder Fred L H Farha started his financial services career 1968 in Zurich Switzerland. He formed Fundmore Corporation Canada Limited August 13, 1971 in Ottawa, followed by the rapid formation of several other special purpose companies including: Fundmore Development Limited 1973, Farha Property Management Limited 1972, and then CENCOR International S.A 1978. Fundmore International Capital Corporation (FICC) 1991 and Templin Airport Corporation Inc. (TAC) 2004.

Recognizing the significant power of the Internet in 1999, Fred organized and launched Fundmore Merchant Bank. COM  (FMB) the first online financial services provider specializing in structured financial solutions and innovative financial engineering services exclusively to difficult financing conditions in the Emerging countries. It was said that the financial structuring services provided by FMB are a case study of entrepreneurial innovation for financing badly needed development project in the Emerging countries.

We really are very proud to share with you 41 years of unparallel innovative structured financial services, made possible by the active participation and generous contribution of hundreds of outsourced specialized services providers made up mostly: legal and accounting, management and financial consultants, credit rating agencies, investment banks, leasing, underwriters, stock brokers, clearing houses, insurance, securities traders, trading houses, engineering and many other disciplines.

 

Our Contribution to Global Financial Industry

We selected few representative cases from our large archives to demonstrate our comprehensive knowledge and depth of experience of the global financial services industry and to highlight some of the financial models and products we help develop:

1969/1970: structured the first commodity-linked asset-based finance product in the United States, involving a major Puerto Rico based rum, molasses and sugar company in support of a $ 39 million, 7 year term loan facility that was funded by a Swiss banking syndicate that he organized.

1971: The Canadian Central Mortgage and Housing Corporation (“CMHC”) a Crown corporation, was chronically short of capital to meet the increasing mortgage financing in Canada. With the participation of a colleague and friend, Fred discovered that CMHC mortgages enjoy sovereign guarantees status, higher yields than conventional mortgages and total exemption from Canadian taxes.  With the assistance of Lazard Freres & Cie, Paris, the first cross-border mortgage facility of $13.2 million was arranged for an Ottawa property developer. This First cross-boarder capital financing model was fast adopted by Canadian banks and Trust companies and used to channel billions of dollars to Canada’s housing Industry.

HRH Prince Bander, George Hay and Fred Farha

HRH Prince Bander, George Hay and Fred Farha

1975/ 1979: Designed financed and built (DFB) in the city of Riyadh, one of the Kingdom of Saudi Arabia most prestigious residential complexes. Sahara Towers Residential Complex composed of 10 semi-high-rise buildings, 350 deluxe suites, underground parking and other high-class amenities. Fred joint ventured the construction works with a highly respected German engineering and construction company, assisted the financing of this $49 million development project by negotiating long-term forward leases of all 10 buildings to triple-A tenants.

 

Notwithstanding the lack of infrastructure and shortages of construction material supplies in Saudi Arabia, Fred is particularly proud that the JV “GerCan” made historical record having completed 85,000 sq m of buildings and allowed 350 families to move in within 19 months. Locals used our financing model and documentation to develop hundreds of projects in Saudi Arabia and the Gulf States.

Fred Farha at the Sahara Towers

Fred Farha at the Sahara Towers

1988/1989: Structured first (composite) limited recourse, barter, countertrade, commodity-linked, asset-based, foreign aid and Islamic financing facility in support of $146 million medium term loan facility. Fred volunteered to assist Somalia overcome its difficulties to export its live cattle to its historical markets Saudi Arabia and the Gulf States. Undaunted by the immense difficulties involving one of Africa’s poorest countries, Fred recruited the support of a major Canadian meat packaging company and proceeded to assemble and structure the development of a vertically integrated agro-industrial complex in Somalia. The project was composed of feedlots, feedstock, slaughtering and meat processing plant, involving 90,000/year heads of cattle, local farming and production of world class animal feed utilizing 40,000 hectares of irrigated farmland on the Juba River and to provide new jobs to more than 15,000 Somalis.

 

 

Speaker and Moderator, Opportunity Middle East Conference, September  6 & 7, 1978,Toronto Ontario Canada, sponsored by FINANCIAL POST in association with AIR CANADA

FREDCO1

 

Summary of Ottawa Canada business operation 1970 -1975:  before moving business

operations to Athens Greece

  • Landbanking / Land Development as investor: more than 2,200 acres
  • Property Development: Canada and USA circa $ 73 million
  • Mortgages Financing: Conventional and CMHC Insured circa $ 105 million
  • Corporate Financing: $ 32 million
  • Property Investment: Canada circa $ 76 million USA circa $ 41 million
  • Property Management: Residential 1640 apartments, offices 1.9 million sq f
  • Number of employees and agents: 293

 

Our Contribution to Online Financial Services

FIRST TO REGONIZE – THE CONCEPT AND THEORY OF THE ONLINE AUCTION ROOM – B2B and B2C

In the Auction Room, “We are planning daily or weekly auctions of financial instruments and products, and that the timing and range of financial products will be participant driven between B2B and B2C trading*”.

 

FIRST TO ARTICULATE – THE CAPITAL-POWER OF RETAIL INVESTORS

The Internet is a revolutionary power that is opening the floodgates of the financial services industry that have been built over the past 40 years. It is now apparent that a more serious challenge to the existing order is the distribution strength of the Internet and the growing importance of Retail Investors*”. 

 

FIRST TO ORGANIZE – PRE-IPO CONTEST

 We refined the concept and practice of holding Contest for awarding IPO mandates between clients and licensed brokers and securities underwrite. The purpose is to secure best terms and conditions for clients to limit and reduce costs, fees, share options and bonuses.

Prophecy: We are expecting our daring reach to finally empower small and Retail and Muslim investors will be copied soon. Our only wish is that the intention of who ever copy our business model is as well intentioned as ours.

 

Samples of Our Financial Experience

1982– SR 2.56 billion – Internal Security College project, Ministry of the Interior – We acted as Team Syndicate Leader involving major Turkish contractor, leading Kuwaiti sub-Contractor and major UK construction management companies.  Saudi Arabia

1983– $169 million – Sadat Industrial City Egypt, Structured Development and Financing Services, Export Credit Arrangement and preparation of Documentary Credit. Egypt

FAF_SE1

1985/1987 $320 million – Subrie Dam Project, Acted as Team Syndicate Leader and provider of   Financial Structuring, Preparation of Power Purchase Agreements with the participation of Korean Construction and Engineering group and a lead UK power generating company. Ivory Cost     

1988– $710 million –Developer/Investor of Patrouklu Island, 3774 acres, into a world-class leisure theme park, tourist and retirement destination, Sounion, near city of Athens, Greece

1988  – $140 million Structured Barter Financing Facility –Somalia Ministry of Fisheries and the Polish Union of Fishers – Somalia and Poland 

1988  -$232 million Structured Trade and Credit Facility Cement Industry, Iraq

1989 -$820 million Structured Debit Financing and Financial Exit Strategies, Petrochemical-2, Combustion Engineering Inc., and National Oil Co./ Iraq

1990  -$148 million Structured Debit Financing, Setal/ Petrobras, Brazil

1990  -$32 million Trade Financing Supporting LC, Petroquimica Uniao/ Brazil

SIGNIN1

1990/91  -$250 million Major Rehabilitation and Asset-based Structures supporting Financing Facilities to arranging “Take Or Pay” Heads of Term, Petroquimica Uniao Brazil

 

 

 

 

FREDWI1 1992  -$83 million Structured Trade Financing and Credit Facility Planning, Jangsu International Corporation, Jangsu, China                   

 

 

 

 

 

 

 

FREDWI2

1992  -$112 million Structured Debit Financing and Revolving Letter of Credit Facility for China Harbour Engineering Company, Kuwait Housing project, Kuwait 

1993  -$ 370 million – Design Finance Build and Turnover, development model and Documentation, National Bank of Iran, Tehran, Iran

1993  -DM 1.6 billion, Property Disposal and Debit Liquidation, SKANSKA S.A. Germany

1994 -$56 million Structured Trade Credit Facility, Frigo Kaiowa SA, in Chapter-11  (Concordata), Sao Paulo, Brazil.

1994 -$1,710 billion, Structuring Strategy Replacement of Export Credit Guarantee Arrangement, South Pars Gas Fields development Iran and SAIPEM S.P.A. Italy

1995 -$113 million, Initial Public Offering, Pre-IPO Strategy and Arrangements, Leisure Project Development, ISARCO SA, Belgium

1995  -£19 million, Acquisitions of Assets and Structured Trade and Financing, Timber Harvesting operations, St.Petersburg Russia by Quade Investment Ltd, UK

FREDRE1

1996 -$7,650 billion, Reorganization, Rehabilitation and Structured Financing of all 22 Pulp and paper, wood harvesting and processing companies of Karellesprom of the forestry industries of the Republic of Karelia, Russia

1996 -$170 million, Structured Credit Facility, supported by government guarantees of China, for the completion of National Museum, Shanzhen,  China

1997-$59 million, Export Credit Guarantee Arrangement of the UK, for a housing project, by the Ministry of Housing, Eritrea

 

1998 -$200 million, Structured Credit Facility, supported by Timber Forward Sales and issue of Bonds and placement, for Karellesprom Holding, Karelia, Russia   

1998 -$33 million, Privatisations and Structured Equity & Debit Financing facility for Expandia AS, Czech

1998 -$24 million, Business Plans, structuring – Design Finance Build and Lease – deluxe Apartment- hotel accommodation, Dmitrovsky Lane, City of Moscow Russia

1999 -$26 million, Structured Equity Financing and Export Credit Guarantee Facilities, 5-Star hotel, Project Associates, Kiev Ukraine

1999 -$1.2 billion, Structured Barter and Trade Financing and preparation of Power Purchase Agreement for two 400 MW power generation plants, India

1999 -$1.5 million, Assignments: Project Analysis and Recommendations, Ministries of Finance and Agriculture, Government of Uzbekistan

2000 -$100 million, Structured, Formed and Managed “The F-3 Fund” small Investment ($250,000 – $500,000) in Start-ups in Russia and Ukrain, London England

2002 -$300 million, Pre-IPO services, for a Gas Liquidification Company, Nigeria

2002 -£170 million, Structuring Strategies, Projections and Data, for a PPI –Private Public Initiative involving schools, by a group of UK investors, England

2002/2005 -$2.6 billion, Structuring Equity Islamic Compliance Financing and Export Credit Guarantee for turbines, transformers and transmission lines for Merowe Hydropower dame project, Merowe, Sudan

2003-$300 million, Structures Debit Financing Strategies involving the takeover of BOT road infrastructure assets by a major European Equity Fund, Germany

2004 -$170 million, Structuring Islamic Financing, Sukuk issue, for building a CN Tower in Riyadh Saudi Arabia

2005 -$95 million, Structured Debit financing, Islamic Financing, supported by Forward Trading of total production of 30,000-ton/y Hydrogen Peroxide Production, Qatar

2006_I_1

2005- 2006 -$672 million, Bahrain Hanging Gardens development project, Al Muharraq District Municipality, Kingdom of Bahrain. We provided Evaluation of Feasibility Studies and Financial Plans and Exist Strategies and Project Management Concept. project composed of land reclamation from the sea, development of 273,000 sq m of highrise residential, commercial, offices, retail, hotels, sports and underwater aquarium.

2005 -$160 million, Feasibility, Marketing and Project Financing Strategies for the development of several agro-industrial projects production capacity 80 -120-million gallon/year Ethanol from sugarcane production with the participation of local farmers in 10 countries in Africa and 6 Asian countries.

TEMPLI1

2003. 2007 Developer/Investor $45 million, development of the Third Airport Model, a major Logistics Centers for Europe of courier cargo rail and road services at Templin Airport, a former 15 million square meters, Soviet Union military airbase, located 47 kilo northeast of the city of Berlin, at Gross Dollen,  Germany.

Categories
MenuPage
No Comment

RELATED BY

  • Parental Consent

    Parental/Guardian Consent for children 16 years and younger, wanting to participate in sports, recreational, camping and other activities taking place on the properties of Family Nature Parcs Inc, will...
  • Family Nature Parcs Inc.

    Proud to Present The Only MULTI SPORTS LEISURE RECREATION & WELLNESS OUTDOOR PARCS IN CANADA USA and the WORLD Owner Developer FAMILY NATURE PARCS INCTM., (CBCA-Corp No: 806498-9 Formed Ottawa January-04-2012) This...
  • Equity Crowdfunding Support Services

      Proud to Present our Equity Crowdfunding Support Services     Fundmore Alternative Finance (FAF) is pleased to announce the start of its specially focused global Equity Crowdfunding Support Services...
  • Empowering Africa through Agriculture

      Come let us change Africa into the breadbasket to Africa and a major contributor to the food security of the world!   We like to share with you our...