Indonesian hospital property valuation; Macquarie Capital (Singapore) Pte. Ltd.

Abstract

The internship commenced on 5th April 2010 and lasted for a period of eight weeks. I was working in the Capital Advisers division with the Real Estate desk. The Real Estate desk consisted of four members including a Division Director, Senior Vice President, Senior Manager and Business Analyst. Working with my team for eight weeks was a wonderful learning experience. I got the opportunity to assist them in several potential deals and live projects and transactions. I also got the opportunity to work on pitch books, spreadsheet modelling, data processing, and valuation models. The internship at Macquarie was also a wonderful platform to interact with stalwarts in the finance field. Initially, during the first three weeks of the internship, I was expected to understand the structure of REITs (Real Estate Investment Trust), the investment instrument that the Real Estate team at Macquarie works on. During this period, I also helped my team prepare several pitch books for deals in real estate across various countries in Asia Pacific like Singapore, China, Hong Kong, Malaysia, Philippines, Indonesia, etc. This required me to do extensive research on the company involved in order to identify the key selling points of the proposal we presented to them. During the next five weeks of my internship I worked on two major projects. One involved data modelling and processing for pricing over 19 malls in Philippines whereas the other required me to create a valuation model for three well known Indonesian hospitals. Both these projects were quite challenging in terms of the research needed and methodology used. These projects gave me the opportunity to apply the theories and concepts learnt by me during my first year and put them into practice. The internship at Macquarie helped me understand the workings of an Investment Bank and helped me appreciate their role in the field of finance in general, and that in the real estate market, in particular.