Since 1992 we have been paying special attention to cooperation with foreign colleagues - engineers, consultants and appraisers, considering this work as an important element of improving of our internal knowledge management system, and as element of studying the best appraisal and consulting practices of our partners


P&O Australia

Australia, Sydney

In 1993 P&O Australia (division of P&O Ports) initiated a feasibility study to explore a possibility of the container terminal project development in one of the ports of the southern coast of Primorsky region. As an alternative points were considered ports at Vostochny, Vladivostok and Zarubino.

The Company's specialists were invited by P&O Australia to gather information and prepare one of the FS Report chapter – environmental restrictions on the Zarubino port future development & expansion.

After the completion of considerable preliminary work the Vostochny port was chosen as the future container terminal location. In 1995 the East International Container Service joint venture (JSC VICS, now, after a number of M&A deals – VSC) was established by JSC "Vostochny Port", P&O Ports and CSX World Terminals (CSXWT).

Project Identification & Feasibility Study * Transport & Logistics


Travers Morgan

England, London

In 1993 the consulting engineering firm Travers Morgan (since 1995 - Symonds Travers Morgan, which, in turn, was absorbed in 2004 by Capita Property and Infrastructure) was invited to Vladivostok to develop a Feasibility Study for the project of 5* hotel under the management of Hyatt.

During the project, the FS report, initially developed by Union Engineering (Belgrad, Yugoslavia), was radically revised in the light of the results of target market analysis and expected trends of tourism/business development in Vladivostok. In addition, the conceptual design was revised to take into consideration the requirements of Hyatt Hotels Corporation to the planning and engineering solutions of the hotel of the proposed class.

After the completion of the tender among several foreign engineering firms, the Company's specialists gathered and prepared information, required for FS report and IEMM (Individual Economic-Mathematical Models). Due to this work the Company's experts had an opportunity to get acquainted in details with the specifics of hotel industry Feasibility Study preparation, of potential guests segmentation, of IEMM preparation for hotel industry.

In 1994 Travers Morgan project team, led by Mr. Keith R. Johnson, has developed the Feasibility Study for the Zarubino-Hunchun Toll Road project (Client - FEJI) in Khasan area.

Practical experience of Feasibility Study preparation under the guidance of the expert with extensive practice in the transport sector in Asia, Middle East and England, was subsequently used by the Company's specialists for developing documents for a number of infrastructure project in Vladivostok:

Project Identification & Feasibility Study * Target Market Research & Analysis * Project Options Analysis & Optimisation * Traffic Studies * Tourism & Recreation * Transport & Logistics * Real Estate & Infrastructure


England, London

Pannell Kerr Forster (PKF International) was invited by the European Bank for Reconstruction and Development to carry out Due Diligence procedure for the "Project of Bottled Mineral Water Production Expansion", developed by JSC "Malkinskaya" (Kamchatka).

In addition to JSC "Malkinskaya" itself, Feasibility Study report, prepared by ASSO-Invest Consulting, was also subjected to Due Diligence procedure.

Working on the stage of Due Diligence in the Client's team, the Company's specialists had an opportunity to learn the approaches of auditors to assessment of the project target market, confirmation of its scale and expansion prospects.

During the process of Due Diligence, the project CF generation conditions were clarified, taking into account agreed amendments on segmentation and market growth rates.

Upon completion of the project, our Company had received letters of recommendation both from Pannell Kerr Forster and European Bank for Reconstruction and Development.

Target Market Research & Analysis * Project Options Analysis & Optimisation * Project Finance Pattern Analysis & Optimisation * Agriculture / Food

Scott Wilson Group plc

England, Basingstoke, Hampshire

In 2002, the engineering consulting firm Scott Wilson Group plc (In 2010 it was acquired by URS Corporation, which in turn was absorbed by AECOM in 2014) took part in a tender for a Medium- and Long-term Strategy Development for Commercial Port of Vladivostok (JSC "VMTP").

At the initial stage of the Project, the Company's specialists have prepared the tender, have conducted prequalification procedure to prepare a short list of consulting firms.

After individual negotiations with consulting firms of short list and clarification of submitted proposals details, Scott Wilson Group plc was announced as the winner of the tender.

At the next stage of the project, the Company's specialists worked together with Scott Wilson Group plc. experts. Our main task was business valuation of JSC "VMTP" in the context of implementation of strategic options offered by Scott Wilson Group plc.. In other words, we had to show the optimal combination of strategic options that would ensure the maximum value of JSC "VMTP".

During the project the Company's staff demonstrated high professional skill in preparation of IEMM (Individual Economic-Mathematical Models) with required detailing, which made it possible to consider all features of the strategic options proposed by Scott Wilson Group plc., their effect on port CF generation, and, finally, on the market value of JSC "VMTP".

Business Valuation & RE Appraisal * Target Market Research & Analysis * Project Options Analysis & Optimisation * Transport & Logistics


Canadian International Builders Inc.

Canada, Edmonton

Having decided to evaluate sales prospects of prefabricated cottages on the Russian Far East market Canadian International Builders Inc. (Edmonton, Canada) invited the Company's specialists to conduct preliminary market research.

In accordance with the assignment, the study was to be conducted under the supervision of a representative of Canadian International Builders Inc., based on the proposed market research program.

In the course of work the Company's specialists got acquainted with the foreign companies strategy of entering new markets, and with the specificity of new construction technologies positioning at markets with stable preferences of consumers.

Corporate & Business Unit Strategy * Target Market Research & Analysis * Real Estate & Infrastructure

Neodeco Designs Inc.

Canada, Concord

Wide interest of foreign business to the opportunities of the Russian Far East and the lack of adequate infrastructure in Vladivostok prompted Neodeco Designs Inc. to promote the mixed office & hotel project.

The main idea of the project was to combine the office block, apartments and the hotel within the common concept, providing opportunities for the short and medium-term residence and work of foreign businessmen.

In the course of the project the Company's specialists got acquainted with the specifics of IEMM developing for a mixed complex, and with the features of segmentation and analysis of the target market.

IEMM - Individual Economic-Mathematical Models * Target Market Research & Analysis * Real Estate & Infrastructure

South Korea

HYUNDAI Engineering & Construction Co., Ltd.

Korea, Seoul

In 1997 HYUNDAI Engineering & Construction Co., Ltd. finished the construction of the self-titled hotel, which has become by now part of the modern history of Vladivostok and the place of many important economic and social events.

A year earlier, HYUNDAI Engineering & Construction Co., Ltd. had invited ASSO-Invest to optimize the project of the hotel building being under construction in order to improve expected operation results of hotel/business center mix.

The main task of the Company was to prepare proposals for adjusting the initial design mix of premises with focus on hotel rooms. The proposals had to be based on the results of the IEMM scenario analysis, supported by econometric model block to forecast target tourism and business market development.

Thus, the results of work of the Company' specialists were embodied in one of the most famous buildings of Vladivostok.

Project Options Analysis & Optimisation * IEMM - Individual Economic-Mathematical Models * Target Market Research & Analysis * Real Estate & Infrastructure


Korea, Daegu

In 2011, KOGAS Vostok Ltd (Khabarovsk), a subsidiary of KOGAS (Korea Gas Corporation), were analyzing an opportunity for investments in the capital of JSC Primorsky Gas, a regional company in the distribution and wholesale and retail trade of liquefied propane-butane mixture.

Several investment options were considered, taking into account the expected change in the logistics of delivery of liquefied propane-butane mixture in the medium-term horizon.

The Company's specialists were invited by KOGAS Vostok Ltd (Khabarovsk) to perform the valuation of the market value of two different block of shares of JSC Primorsky Gas, taking into consideration the above-noted prospects of changing liquefied propane-butane mixture logistics.

ASSO-Invest has prepared market valuation with required features with help of developed for the case IEMM, which provided an opportunity to analyze various scenarios for changing the external economic environment, including expected change in logistics schemes.

Business Valuation & RE Appraisal * IEMM - Individual Economic-Mathematical Models * Energy & Gas


Lamb Hanson Lamb

USA, Seattle

In 1994-1995, Lamb Hanson Lamb Appraisal Associates, Inc., represented by Mr. Leonard A Carey (CCIM, ASA), the head of the Multi-Disciplinary Group (MDG), were carrying out the appraisal of a number of assets in the ports of Vladivostok and Nakhodka. In particular, the refrigeration complex, storage facilities and berths were appraised. The appraisal was carried out for Russian clients for the purpose of pledging against borrowed funds.

In the course of the appraisal process, the Company's specialists got acquainted with the specifics of the asset valuation in the transport sector, collected and analyzed the primary data necessary to perform the appraisal of both land plots and real estate objects.

In fact, the work under the supervision of Mr. Leonard A Carey was a powerful catalyst for the efforts that had been made by the co-owners of ASSO-Invest in order to complement the scope of the Company competence with real estate appraisal services and, subsequently, business valuation.

Subsequently, the Director and co-owner of the Company S. Ostropoltsev had an internship within Lamb Hanson Lamb Appraisal Associates, Inc. and was joined to Multi-Disciplinary Group (MDG) of LHL Appraisal Associates, Inc.

Business Valuation & RE Appraisal * Transport & Logistics * Real Estate & Infrastructure

Consilium, Inc.

USA, Bellevue, WA

Shannon Pratt Valuation, Inc.

USA, Beaverton, OR

During his internship in the United States S. Ostropoltsev, the Director and co-owner of the Company, was given an opportunity to get acquainted with the activities of appraisal firm Consilium, Inc. (USA, Bellevue, WA), specializing in business valuation.

With the assistance of Mr. Mark H. Wellington, Accredited Senior Appraiser in Business Valuation, S. Ostropoltsev was given the opportunity to get acquainted with the process of business valuation in detail, to study real reports on the appraisal of companies, to establish contacts with well-known authority in the field of business valuation - Mr. Shannon P. Pratt, CFA, FASA, ARM, ABAR, MCBC, CM & AA.

In fact, the literature, materials, information and experience provided by Consilium, Inc., and Shannon Pratt Valuation, Inc. had formed the basis for the Company's knowledge system in the field of business valuation, had established the foundation for high internal requirements for the quality and detailing of the real estate and business valuation reports.

Business Valuation & RE Appraisal * Third Party Appraisal Report Scan


Patterson Associates Ltd

Scotland, Glasgow

Withdrawal of a "closed city status" from Vladivostok attracted foreign businessmen in the region to assess opportunities for expanding business on the basis of interaction with local companies.

In particular, in 1993 Patterson Associates Ltd (Consulting Civil, Structural, Environmental Engineers), JSC FEMRI and ASSO Consulting LLC signed an agreement on the establishment of a joint venture in the field of engineering and consulting services.

Interaction with Patterson Associates Ltd experts allowed the Company's specialists to get acquainted with the specifics of the activities of foreign consulting engineers at the initial stages of project promotion, the specifics of the contract strategy, the specifics of the BOT (Build Operate Transfer) contracts, and the specific risk assessment of projects in the transport infrastructure segment.

Project Identification & Feasibility Study * Target Market Research & Analysis * Transport & Logistics


Daiwa Institute of Research Ltd

Japan, Tokyo

In 1998 Daiwa Institute of Research Ltd part in the tender of the World Bank for the Nakhodka Vodokanal Project (Russian Federation Proposed Municipal Water and Wastewater Project, Preparatory Studies of Institutional, Financial and Economic Aspects and Technical Assessment and Preparation of Immediate Investment Program for Nakhodka).

Positive feedback from foreign clients, including the invetment fund from Japan - EURASIA Investment Promotion Co., Ltd, made a basis for the invitation of Mr. S. Ostroplotsev, the director of ASSO-Invest, to joint Daiwa Institute of Research Ltd project team to work together on the "TaskB" - "Social beneficiary assessment and consultation, affordability and willingness to pay".

Project Identification & Feasibility Study * Target Market Research & Analysis