Press release -
Elite Capital & Co. supports its services with financial insurance covers provided by Royal Chartered Insurance
London, UK (AGENCIES) Jan. 13, 2015 -- Mr. George Matharu, President and CEO of Elite Capital & Co. Limited (ECC) announced today that ECC Chairman, Dr. Faisal Khazaal has signed a trade exchange agreement for financial insurance with the Royal Chartered Insurance chairman, Mr. Levy Marshall, for the issue of financial insurance policies to new ECC customers.
Mr. Matharu added "the signing of this agreement is an essential part of ECC's business strategy for 2015 and beyond. Our goal is to use best-of-breed professional service providers, such as banks, lawyers, accountants, auditors, and others, coupled with ECC's private funding sources, to create a project funding platform that operates on a global basis. This is a unique service offering to rival anything that exists in the market today. The financial guarantee policies will be used to underpin ECC's entire project funding platform".
Explaining the new development, Dr. Faisal Khazaal said: "there is a severe lack of finance available for project owners through traditional funding channels, mainly due to banks raising the bar on credit scoring to extremely high levels, and private investors also becoming more risk averse. The financial guarantee policies will act as an enabler for project funding, by providing the missing middle-ground between project owners and funding sources".
Commenting on this new development, Mr. Simon Thomas, Vice President for Finance and Board Member said: "Elite Capital & Co. is emphatically strengthening its presence in the world of project finance. We take this opportunity to thank all our strategic partners in all continents who have worked with our company since its inception. At the same time, we invite the global banks and financing partners to forge new alliances with ECC in order to further expand ECC's service offering".
Mr. George Matharu concluded his statement by saying "A financial guarantee is an insurance policy on a security, collateral, or other financial instrument, which pays out if the under-lying security doesn't perform.
Financial guarantee policies can be used for qualifying projects and/or project owners, to minimise the risk of loss due to project delays, unforeseen costs, or entire project failure.
These insurance policies, the cost of which will be paid by the customer, will be issued when a customer applies for project financing. The policies will be tailored to meet the requirements of each customer and/or project, which will benefit both the customer and ECC".
It is worth mentioning that Elite Capital & Co. won 3rd place in the 2014 award for the "Top 10 Most Influential Companies & Business Destinations" List of 2014.
-- Elite Capital & Co. Limited - Contact Details --
THE UK HEAD OFFICE
Elite Capital & Co. Limited
14 Basil Street
Knightsbridge
London, SW3 1AJ
United Kingdom
Telephone: +44 (0) 203 7555 327
Facsimile: +44 (0) 203 725 9922
Website
http://www.elitecapital.eu
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Overview
Elite Capital & Co. Limited is a private limited company that provides project related services including Management, Consultancy and Funding, particularly for large infrastructure projects.
Elite Capital & Co. Limited has its head office in London (UK), with our Board Members, Staff and Agents being located across the Middle East, Asia and Europe. We have multi lingual staff to ensure that we can accommodate all of our client’s needs.
Elite Capital & Co. Limited offers a wealth of experience in Banking & Financial transactions and has a range of specialized advisory services for private, SME or corporate clients.
When required we can also customize and structure our products and services to meet the specific needs of our clients. We will continue to customize, structure, create and implement funding products and services as the need requires.
Elite Capital & Co. Limited has made strategic alliances with several organizations and companies which have given us access to international markets in Asia, Africa, Middle East and GCC regions. This has given Elite Capital & Co. a substantial foundation of clients to build on, in addition to access to the markets that are most in need of the products and services we offer.
Aim
The aim of Elite Capital & Co. Limited is to facilitate the commencement and completion of Infrastructure projects, stimulate economy, create employment and combat poverty.
Types of Project
Our services are suitable for all types of Infrastructure Projects in either Greenfield (Pre Operations Stage) or Brownfield (Operations Stage) including but not limited to Sea Ports, Airports, Railway, Bridges, Roads and Highways, Water and Sanitation Utilities, Energy, Communications, Hospitals, Schools and Social Infrastructure etc. This includes other projects or activities that impact positively on the relevant country’s basic infrastructure including the manufacturing of components used in infrastructure (such as cement and steel) and infrastructure associated with mining and agribusiness.
Size of Project
Minimum of USD 10M (United States Dollars Ten Million) and upwards.
Loan to Value
Up to 100% of project financing required.
Term
Up to 15 years for the design, build and finance component and up to 30 years for the ongoing operation component.
Operation
Projects can be either BOOT (Build, Own, Operate, Transfer) BOO (Build Own Operate), BOT (Build Own Transfer), BTO (Build, Transfer, Own), BT (Build Transfer), BLT (Build, Lease, Transfer), BRT (Build, Rent, Transfer) or PPP (Public Private Partnership).
Locations
All countries can be considered. Countries currently engaged in war or politically unstable environments or sanctioned countries will not be suitable. All projects must adhere to local and international environmental, health, safety and social standards as required.
Suitable for
Privately held projects, Public & Private Infrastructure Operators, National & Local Governments, NGOs and Financial Institutions.
Funding Collateral
Commercial Bank Instruments; Bank Guarantees, Bonds, Medium Term Notes, or other Bank Debt Instruments issued by banks rated ‘BB+’ or better, but this can be reviewed on a case-by-case basis.
Sovereign Guarantee; Elite Capital & Co. Limited is able to facilitate funding for Government and Infrastructure Projects against a Sovereign Guarantee subject to the Sovereign Guarantee being ratified by the relevant authorities and departments, namely the Central Bank and Ministry of Finance in the respective countries. In some cases the Sovereign Guarantee may need to be confirmed by a Commercial Bank.
Resource Guarantee; The option is available to fund projects against a Resource Guarantee such as an Oil Guarantee or any other significant and valuable minerals or resources that the country has may also be considered.
Promissory Notes; Corporate Promissory Notes endorsed by a commercial bank can be useful if the project has bankable assets that can be used for leverage financing.
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