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| APRIL 2012, BMI NEWSLETTER, PUBLISHED BY BM INTELLIGENCE GROUP |
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| HOT NEWS |
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BMI Innovation receives “Hong Kong Smoke-free Leading Company Awards”
BMI Innovation Limited was recently awarded the Hong Kong Smoke Free Workplace Leading Company Award in recognition of the Smoke Free Workplace policy we first implemented in 1998.
To align with our core value of being a corporate citizen, we focus not only on our contribution to the society but also on the workplace as well as health of our employees. We have enforced a smoke-free policy since 1998 and encouraged our employees to quit smoking through various activities. We will continue to implement our smoke-free policy strictly to construct a positive and healthy workplace environment. |
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| RECENT EVENTS |
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The second Jazz Funk dance Workshop is successfully concluded
Thanks to the keen support of our employees and participants. The second series of our JAZZ FUNK Dance Workshop was successfully concluded in May. During the workshop, our participants are able to put all the worries behind them and enjoy the music and movement. The workshop has been a great success. BMI Professional Training Centre will definitely organize more similar courses for our internal staff. |
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Mining Seminar - Raising Capital for Resource Companies via IPO
An astonishing success of “Raising Capital for Resource Companies via IPO” seminar on 29 March attracted guests from different fields to gather and explore the hottest topic relating to capital market in Resource sector. Organized and coordinated by BMI Technical Consulting (Resources) Limited, in association with York University Alumni, co-hosted by Angela Ho & Associates and McMillan LLP, Presenters from legal, technical and financial industries shared their insights perceptively.
As one of the most debated industries in Hong Kong’s capital market, IPO of Resource sector appeal to a sizable group of active investors including both individuals and fund management. The dynamic market has also captivated a growing number of prospect Resource companies who plan to be listed on a global platform like Hong Kong Stock Exchange (HKEx). HKEx provides an emerging platform for both investors and prospect companies and offers them a gateway to enter the Greater China’s capital market. However, great opportunities always come with risks. Seminar mainly disclosed the listing requirements for Resource companies under the governing of HKEx as well as the beneficial value and risks associated with Resource companies via IPO. Presenters also discussed the feasibility of companies listed on other stock exchanges conducting dual-listing in Hong Kong. Mr. Derek Chan, Managing Director of BMI Technical Consulting (Resources) Limited, then addressed the preparation of Competent Person Report imposed by HKEx Listing Rules Chapter 18 when Resource companies executing fund/capital raising.
We are delighted that “Raising Capital for Resource Companies via IPO” seminar is well perceived among guests comprehending from the encouraging positive feedbacks. It offered professionals from different industries and backgrounds a chance to exchange diverse insights and perspectives on a common platform.
If you would like to obtain further information regrading the seminar, please contact Mr. Derek Chan at (852) 2159 5058 / dchan@bmintelligence.com |
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Spring Wine Party with the Talk on Competent Person’s Report Components and JORC Preparation Details for Listing Use
Wine pouring, glass clinking, looking over at Victoria Harbor, guests and colleagues gathered at BMI Technical Consulting (Resources) Limited’s Spring Wine Party on 23 February 2012. Mr. Derek Chan, Managing Director of BMITC, unveiled the Spring Wine Party with the Talk on Competent Person’s Report Components and JORC Preparation Details for Listing Use.
In the talk, Mr. Chan emphasized the importance of a quality Competent Person’s Report. He addressed and discussed the key elements of a Competent Person’s Report and the JORC preparation process with the audience.
Following the talk by Mr. Chan, the guests even more had a chance to explore different varieties of minerals, put together by BMITC geologists to complement the talk in a tangible and physical manner.
BMITC’s Spring Wine Party ended on a high note, we all had a joyful and enjoyable evening. This event not only raised the industry attention on the importance of a quality Competent Person’s Report, but also opened a more direct avenue of communication. Meanwhile, it displayed the capability of BMITC team.
If you would like to obtain further information regrading the seminar, please contact Mr. Derek Chan at (852) 2159 5058/ dchan@bmintelligence.com |
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Seminar on Investments in Biological Assets
As commodities, biological asset gained its popularity over the years with an increasing demand from the investors. To respond to the queries of such demand, BMI Technical Consulting (Biological Assets) Limited held “Seminar on Investments in Biological Assets” which was hosted by the Company Director - Mr. Marco Sze, in the morning of 16 February, 2012. Practitioners from different industries and backgrounds gathered to explore investment opportunities in biological assets.
Mr. Sze’s presentation mainly covered the recent investment trend in biological assets and explained the benefits of biological assets as an investment tool. Furthermore, Mr. Sze analyzed the risks associated with biological assets, and the means to minimize the risks. Catering to the technical side of the investment, Mr. Sze also gave a briefing on Hong Kong Accounting Rules related to biological assets and the relevant valuation methodology of such investment.
We have received numerous positive responses from the audience. The seminar not only introduced the audience to more investment opportunities relating to biological assets, but also built a constructive discussion and created a platform for future communication. |
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| UPCOMING EVENTS |
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Seminar of “Contract’s Risk Prevention and Debt Management in Mainland China”
Prevention of contract’s risk has become a major issue for business that operates in China. Gaining the support of Hong Kong Apperal Society Ltd, BMI Professional Training Centre Limited has joint-handed with Gold Partners (Asia) Asset Management Co. Ltd to organize a seminar about “Contract’s Risk Prevention and Debt Management in Mainland China” on 14 May, 2012.
If you are interested in the seminar, please visit our website: www.bmiptc.com. Or contact Ms. Gloria Tsui at (852) 3970 9233/ gloria.tsui@bmintelligence.com |
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The third series Corporate Finance and IPO Course Series – Seats are limited!
In order to help participants to gain in-depth understanding of the listing regulations and environment in Hong Kong, BMI Professional Training Centre Limited joint-handed with Economic Digest to organize the third series of Corproate Finance and IPO Course Series. This series is suitable for corporate decision makers and senior management staff. After completion of the course, participants will be awarded an attendance certificateAPRIL 2012, BMI NEWSLETTER, PUBLISHED BY BM INTELLIGENCE GROUP
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Course Name
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Date
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Time
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Topic 5 - Sponsor's IPO Due Diligence
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23 May, 2012
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18:30 – 21:00
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Topic 6 - Case Studies of Sucessful Listing
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30 May, 2012
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18:30 – 21:00
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If you are interested in the course, please visit our website: www.bmiptc.com. |
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| LATEST SUCCESSFUL PROJECTS |
| Recently Successful IPO and Public Circular Cases of BMI Appraisals Limited: |
| Valuation Projects |
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Company name: Pacific Plywood Holdings Limited
Stock code: 0767
Circular issue date: 29-2-12
Project nature: Business valuation |
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Company name: Frist Credit Holdings Limited
Stock code: 8215
Circular issue date: 9-3-12
Project nature: Property valuation |
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| PROJECTS RECOMMENDATION |
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Share Repurchases- BMI Corporate Services Limited
With reference to rule 10.05 of the Rules Governing the Listing Securities on The Stock Exchange of Hong Kong Limited (the “HKEx”) (the “Listing Rules”), a listed company may purchase its shares subject to the provisions of the Code on Share Repurchases. Any breach of the Code will be a deemed breach of the Listing Rules and the HKEx may in its absolute discretion take action to penalize such breach.
With reference to rule 10.06 of the Listing Rules, the listed company should previously send an Explanatory Statement (together with the notice of the relevant shareholders’ meeting) to its shareholders to approve its directors to make the purchase by an ordinary resolution. The Explanatory Statement should contain all the information reasonably necessary to enable those shareholders to make an informed decision on whether to vote for or against the ordinary resolution.
In accordance with rules 13.25A and 13.31 of the Listing Rules, a listed company shall inform the HKEx regarding the purchase of its listed securities as soon as possible by submitting a next day disclosure return not later than 30 minutes before the next business day following the repurchase.
In accordance with paragraph 10 in Appendix 16 of the Listing Rules, the listed company is required to disclose the particulars of any purchase by the listed company of its listed securities (including the aggregate price paid) or an appropriate negative statement during the financial year in the annual reports. Paragraph 41 in Appendix 16 of the Listing Rules also required the listed company to disclose the particulars of any purchase by the listed company of its listed securities during the interim period in the interim reports.
BMI Corporate Services Limited provides professional services to both private and listed companies all over the world. For more information and details of documents preparation regarding the share repurchases, please contact:
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Ms. Carol Cheung
Tel.: (852) 2593 9661
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Ms. Queenie Ho ACIS, ACS(PE)
Tel.: (852) 2593 9610 or
(86) 155 4677 8127
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Audit Committee and Remuneration Committee- BMI Corporate Services Limited
For better corporate governance practice, a listed company is required to establish an audit committee and a remuneration committee respectively under the Rules Governing the Listing Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) and the new Listing Rules which will be effective from 1 April 2012.
With reference to rules 3.21 and 3.25 of the Listing Rules, both audit committee and remuneration committee of a listed company must comprise a majority of independent non-executive directors and must be chaired by an independent non-executive director. Moreover, an audit committee of a listed company must comprise at least 3 members who are non-executive directors and at least one of whom is an independent non-executive director with appropriate professional qualifications.
With reference to rules 3.22 and 3.26 of the Listing Rules, the board of directors of a listed company must approve and provide written terms of reference which clearly establish its authority and duties for both the audit committee and the remuneration committee.
Meanwhile, with reference to rules 3.23 and 3.27 of the Listing Rules, if a listed company fails to set up an audit committee or a remuneration committee or at any time fails to meet any of the requirements on the committees as mentioned above, an announcement must be published immediately containing the relevant details and reasons. Afterward, the listed company should also fulfill the requirements on the audit committee or remuneration committee within 3 months.
BMI Corporate Services Limited provides professional services to both private and listed companies all over the world. For more information and details of documents preparation regarding the audit and remuneration committee, please contact:
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Ms. Carol Cheung
Tel.: (852) 2593 9661
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Ms. Queenie Ho ACIS, ACS(PE)
Tel.: (852) 2593 9610 or
(86) 155 4677 8127
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Macau real-estate project and Detached House for Lease - BMI Surveyors Limited
BMI Surveyors Limited is an international real-estate service provider. We provide a full range of real estate services, spanning from corporate occupier services to strategic consultancy, project appraisal, valuation, feasibility studies and market research, property management, facilities and asset management and transactional services. Following are some of our promoting projects. |
| Home: One Central Residences, Macau |
Nam Wai, Sai Kung |
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- Area - 1,200 sq. ft. gross approx.
- 1 Ensuite & 1 Bedroom
- Full Sea View
- 5-storey Club House
- Asking Price HK$9.9 M
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- 3-Storey Detached House
- 2,100 sq.ft. gross approx.
- Newly refurbished / Open Kitchen
- Car Park / Garden
- Asking Rent: HK$80,000.00 / month
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BMI Technology IP Services Limited offers IP Auditing Services for your Company
IP Auditing Services can help determining the IP landscape of your company in order to develop and maintain an effective IP strategy for maximum economic benefits.
- Integrating IP strategy into corporate development strategy and pave the way for future development of the company
- Helping clients to establish and develop IP portfolio based on its business development strategy and prepare the best mixture of different kinds of IP accordingly e.g. trade secret, utility models, invention patents
- Global IP portfolio management
- IP due diligence check in any merger or acquisition or other activities
- Helping clients to cope with domestic or oversea IP challenges including litigation
- Helping clients to understand the patent landscape which might affect their new commercial activities (freedom to operate issues)
- Analyzing and evaluating the technology or patent
Here is a real case of failing to do proper IP due diligence check which caused serious adverse impact on the company’s business:
http://finance.qq.com/a/20111115/001287.htm
Apple lost its right to use IPAD in China due to negligence in IP
http://tech.qq.com/a/20111206/000115.htm
For enquiries, please contact Mr. Benny Yiu at (852) 3970 9243 / tips@bmi-tips.com. |
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A Primer in preparing a Competent Person’s Report in compliance with the Latest Chapter 18 for M&A or IPO Purposes
The latest revision of Chapter 18, which is the rule governing mineral companies listing in the Stock Exchange of Hong Kong (the “HKEx”), has been effective for almost one and a half years. Most practitioners in the industry already know that a Competent Person’s Report (“CPR”) in compliance with JORC/ NI43-101/ SAMREC Code (jointly the “Reporting Standards”) is required for recent M&A or IPO purposes. Most of them, however, do not have a general picture on how a CPR should be prepared. As a result, they might be easily misled by unrealistic proposals and come up with wrong estimations on the costs and time required during their early stage planning of the capital raising processes.
To view the full version, please click the link below:
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| CONTACT US |
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Published By:
BM Intelligence Group
33rd Floor, Shui On Centre, 6-8 Habour Road, Wanchai, Hong Kong
Tel: (852) 2802 2191
Fax: (852) 2802 0331
E-mail: info@bmintelligence.com
Website: www.bmintelligence.com
Disclaimers:
- This document is for the information of the clients of BM Intelligence Group only and is not for the publication in the Press or otherwise.
- The contents of this document shall not constitute any representation by BM Intelligence Group or its associated companies. Any expressions of opinion therein shall not be regarded to be advices from BM Intelligence Group or its associated companies and shall not be relied upon by companies and shall not be relied upon by recipients of this document without seeking their own professional advices.
- To the best knowledge of BM Intelligence Group, the information contained in this document is accurate at the time of printing.
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| Copyright © 2012, BM Intelligence Group. All Rights Reserved. |
