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Unformatted text preview: Overview of IFC's scope of review The Environmental & Social (E&S) review of KS Group (“KS”, “the Group” or the “Sponsor”) involved investigating compliance with IFC’s Performance Standards and national regulatory standards of hotels owned by the Group and of relevant hotel operators. The review included assessment of the hotels’ environmental and social management system (ESMS), and their ability to ensure and monitor E&S performance in their operations. The review relied on documents made available by KS and interviews conducted by IFC staff during site visits (13-16 April, 2009) to existing or proposed hotel facilities located in Siem Reap, Cambodia and Luang Prabang, Laos PDR. During the visit IFC staff met key management and operational personnel. Project description KS is a Thailand-based group with a core business of assembly and distribution of Honda motorcycles and parts in Laos, Cambodia, and Vietnam. The Group diversified and entered the luxury hotel business by developing Alila Cha- Am in Thailand that opened in 2008, and subsequently acquired stakes in two existing luxury hotels, Hotel De La Paix in Siem Reap, Cambodia and Hotel 3 Nagas in Luang Prabang, Laos. This project involves an IFC loan to develop a 5-star hotel in Luang Prabang, Laos - Alila Luang Prabang. It will be managed by the Alila Hotel & Resorts Group ( Alila ), a hotel management company. Potentially two other 4-star hotels may also be developed in the Mekong region as part of this project. If confirmed, supplementary appraisals will be required. KS Group will be the owner of the proposed hotel assets. It does not directly operate hotels and contracts with professional hotel management companies (“operators”) such as Alila for day-to-day operations of its properties. Alila is focused on environmental stewardship and some of its managed properties such as Alila Villas Hadahaa Maldives are benchmarked and certified against the Green Globe industry standard. Identified applicable performance standards While all Performance Standards are applicable to this investment, IFC’s environmental and social due diligence indicates that the investment will have impacts which must be managed in a manner consistent with the following Performance Standards:- PS1: Social and Environmental Assessment and Management System;- PS2: Labor and Working Conditions;- PS3: Pollution Prevention and Abatement;- PS4: Community Health, Safety & Security;- PS5: Land Acquisition and Involuntary Resettlement;- PS8: Cultural Heritage During assessment, the following performance standards were not triggered, due to the fact...
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This note was uploaded on 02/13/2012 for the course ECON 101 taught by Professor Teerana during the Spring '11 term at Thammasat University.
- Spring '11