REVENUE STRATEGY - BLUESCOPE STEEL

1. BlueScope Steel Ltd., Australia's largest steelmaker, agreed to buy four U.S. building material businesses for $730 million, betting commercial construction demand will defy a worsening homebuilding slump.
The acquisition will double BlueScope's sales in the U.S. commercial and industrial building market, adding 23 plants from California to North Carolina.
2. It will fund the acquisition with a 364-day loan.
3. It will study further acquisitions in the North American building products market.

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REVENUE STRATEGY - SUMITOMO FORESTRY

1. Sumitomo Forestry Co., a Japanese homebuilder and timber producer, plans to spend 360 billion yen ($2.9 billion) in 10 years to buy local real estate and foreign forests
2. It plans to reduce its reliance on home building (because Japan's population expected to shrink) by investing in foreign timber plantations and in Japan's real estate market as land prices rose for the first time in 16 years.
3. It will spend 160 billion yen overseas over a decade to secure timber supplies.
4. It will invest 50 billion yen over the next five years and 150 billion yen in the following five years to acquire land and develop residential properties and nursing homes in Japan.
5. It plans to buy 80 billion yen worth of assets in Oceania and North America over the next five years.
6. It plans to finance investments using cash generated each year and by borrowings from banks, as well as possibly through bond sales.

Real-time adjustments to changing demand patterns = more sustained revenue

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REVENUE STRATEGY - JSM INDOCHINA

1. JSM Indochina Ltd. plans to raise as much as $690 million in an initial public offering to invest in real estate projects in Vietnam and Cambodia as well as other countries in Indochina.
2. It plans to invest at least 50 percent of its gross asset value in Vietnamese-based projects with the focus on Ho Chi Minh City, Hanoi and other cities.

More investment = more revenue.
More over-investment = more expenditure

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REVENUE STRATEGY - ASCENDAS

1. Ascendas Pte, which manages Singapore's biggest industrial property trust, wants to double the assets it manages to more than S$10 billion by 2010 as it expands in Asia.
2. It will set up a S$500 million ($324 million) fund to invest in Indian real estate projects to tap the rapid growth of the Indian real estate sector, riding on India's strong economic performance.
3. The fund is expected to double to S$1 billion.
4. It will invest in integrated developments in India, where it will build business space in the projects including two information technology parks in Pune and Nagpur and other developments for residential, commercial and industrial use.

More investment in faster growing economy = more revenue faster

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REVENUE STRATEGY - PARSVNATH DEVELOPERS

1. Parsvnath Developers Ltd is developing 153 million square feet (14.21 million square meters) of townships, shopping malls (including malls at New Delhi's metro rail stations) and trade zones in 17 states across India.
2. It aims to invest as much as 50 billion rupees in the next two years to buy land and build homes.

But:
1. India wants to cool land prices that have as much as tripled in three years and driven the rupee to a nine-year high.
2. It has banned overseas borrowing by the real estate developers.
3. The Reserve Bank of India asked banks to curb loans to the real-estate sector, making it harder for developers to obtain cheap financing.

So:
1. Parsvnath plans to borrow 20 billion rupees in the next two years
2. It will meet the remaining 30 billion rupees from its own cash reserves and partnerships with investors
3. It plans to raise 5 billion rupees in the next three months

Where there is a will and also wealth there are many ways to revenue

REVENUE STRATEGY - DLF LTD

1. DLF Ltd., the developer attempting India's second-biggest share sale, may raise the maximum 96.3 billion rupees ($2.4 billion) it is seeking after a shortage of homes and offices spurred gains for rival Unitech Ltd.'s stock. (Unitech stock surged 33-fold in two years as Asia's fastest wage growth prompted more of the nation's 1.1 billion people to buy homes).
2. It will use the proceeds to build apartments and offices and increase land purchases in a market estimated to be seven times larger by 2015.
3. Residential space will account for about 71 percent of DLF'S 526 million square foot development plan, according to share-sale documents.

More investment = more revenue (in a growing market)

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REVENUE STRATEGY - KWG PROPERTY HOLDING

Guangzhou's property market is high-growth supported by wage growth. The average price of new housing surged 23 percent last year.

1. KWG Property Holding Ltd., a Chinese developer partly owned by a Morgan Stanley affiliate, accelerated property sales.
2. It has ten more projects under development, including landmark buildings such as Cosmos and International Finance Place.
3. Its hotels under development will help raise investment income to 15 percent of net income
4. It has bought land in Suzhou and Conghua. It may buy as much as 2 million square meters of land to support future growth.

Investment grants revenue, over investment does not.

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REVENUE STRATEGY – IDEAL & MACQUARIE

1. Impulsora del Desarrollo y el Empleo en America Latina SA (IDEAL) and Macquarie Infrastructure Group teamed up to bid for a package of four Mexican toll roads covering 558 kilometers (336 miles) worth at least $2.3 billion.
2. Ideal was created in 2005 to make money from roads, dams and construction. The package would add four toll roads in central Mexico to five already run by Ideal in the nation.
3. Macquarie is focusing on expansion outside Australia after spinning off highways in Sydney last year.

[Toll roads are luring investors such as Macquarie and Ideal for their predictable cash flows and growth potential. These roads are very attractive because they're ready and have a track record, like privatizing a profitable company.
Mexico's government is seeking to resell $25 billion of highways after taking them over from private companies that had no money to maintain the projects following a currency crisis in December 1994.]

Keep your eyes on the toll and your mind upon the wheeling! And dealing!

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REVENUE STRATEGY - SACYR VALLEHERMOSO

Sacyr Vallehermoso SA, Spain's second-biggest builder by market value, offered 6.5 billion euros ($8.8 billion) in stock for the two-thirds of Paris-based rival Eiffage SA it doesn't already own to gain access to French construction and toll-road markets. (The bid comes a day after Eiffage blocked Sacyr from naming directors to the board of France's third-biggest construction company.)

Seems to be a matter just of pride, honour and market share,
not synergy, organic growth and mutual upliftment.