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MAY 2012, BMI NEWSLETTER, PUBLISHED BY BM INTELLIGENCE GROUP |
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HOT NEWS |
Congratulations to Flying Financial Services Holdings Limited (Stock code:8030) for its successful listing in Hong Kong
BMI Appraisals has provided professional valuation and consultancy services related to a recent initial public offering (IPO). The recently listed company is Flying Financial Service Holdings Limited.
Flying Financial Service Holdings Limited (stock code: 8030), listed on the GEM Board of Hong Kong Stock Exchange on 7 May 2012, is engaged in integrated short-term financing services, including pawn loan services and entrusted loan services.
We would like to send Flying Financial Service Holdings Limited our heartiest congratulations and hope its businesses will reach new heights in the near future.
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Latest Publication - CFA Level II Make it Easy
Our latest publication “CFA Level II Make it Easy” is released in April 2012. Chartered Financial Analyst ("CFA") is a globally recognized and the most authoritative professional financial qualification. This book provides a lot of practices in order to help the candidates to be familiar with the CFA Level II exam mode. It also covers a detailed explanation of each topic, so that candidates can not only identify their own weaknesses in the revision, but can also have an in-depth understanding of the concepts and knowledge of questions, as well as improving their answer techniques.
Besides, in view of the emerging need for business valuations, the enhancing requirements from the accounting standards on valuations and the statutory requirements on corporate governance for the listed companies, a series of publications relating to these topics have also been issued for practitioners’ needs.
If you are interested in our publications, please feel free to contact us at (852) 2593 9689 or email to enquiry@bmintelligence.com .
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Amendment of Maximum Level of Relevant Income for MPF Contributions
The Legislative Council has passed the amendment of the maximum level of relevant income for MPF mandatory contributions, effective 1 June 2012. Key points about the amendment are as below:
- For monthly-paid regular employees, the maximum level of relevant income has been amended from $20,000 to $25,000 monthly. The maximum contributions will be adjusted from $1,000 to $1,250 monthly accordingly.
- For self-employed persons, the maximum level of relevant income has been amended from $20,000 to $25,000 monthly and from $240,000 to $300,000 yearly. The maximum contributions will be adjusted from $1,000 to $1,250 monthly or from $12,000 to $15,000 yearly accordingly.
- For casual employees who are members of Industry Schemes, the maximum level of relevant income has been amended from $650 to $830 daily.
BMI Resources Management Limited offers a full range of HR Outsourcing Services from HR administration to payroll management. For more information in handling MPF services, please contact Ms. Ceci Cheung at (852) 2593 9653/ cecicheung@bmintelligence.com
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RECENT EVENTS |
Congratulations to the success of “The Road for the PRC Enterprise to be Listed ”seminar
BMI Corporate Advisory (Shanghai) Limited ad Shanghai Jiao Tong Univerisity MBA classmate Club organized and coordinated the "The Road for the PRC Enterprise to be Listed" on 25 May successfully.
The first topic of forum was “ Why do Business needs to be listed?” .The speaker used examples to analyze why and what kinds of business need to be listed and the strengths and the weaknesses of listed companies .The second topic was “The path to go listed for corperates and the majoer issues involved.”
This is the fifth seminar organized and coordinated by BMI Corporate Advisory (Shanghai) Limited and Shanghai Jiao Tong University MBA classmate club. We will continue to use existing platform to stimulate more interaction and exchange, and allowing more accumulation of health knowledge.
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Staff activities in Volcanic Island - BMI Management Advisory (Xiamen) CO.,LTD
A three-days From April 20 to 22 spring hiking trip was held by BMI Management Advisory (Xiamen) CO.,LTD in Zhangzhou Coastal Volcano National Geopark.
The trip was aimed at boosting the leadership and team communication skills. The activity was in the form of a GPS treasure hunt. To win the ultimate treasures, the teams needed to find different clues in unknown locations. Each team brainstormed, shareed their ideas and cooperated with each other to complete team thier goal .
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The second session of the Capital Transactions Conference in Dezhou.
The second session of the Capital Transactions Conference was held in Sun Valley International Convention Center in Dezhou, form 18-19 May, 2012
BMI Management Advisory (Xiamen) CO., LTD was invited to participate in this seminar, and hosted the "Domestic and overseas listed guidance” session. Through the environmental analysis and comparative summary of the current domestic and overseas capital markets and listing respectively, the attended listed companies knew more about the difference between domestic and overseas listing.
The conference had gathered over 1000 local companies, and 35 companies from Liaocheng, Shandong Province and Cangzhou. There were more than 3200 people participated in the opening ceremony.
After the conference , BMI Management Advisory (Xiamen) CO.,LTD had visited some potential enterprises, and has already reached a preliminary intention of listing consultancy services with two enterprises in Dongying and one enterprise in Dezhou.
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UPCOMING EVENTS |
Upcomping Courses - "Corporate Finance and IPO course series"
In July 2012, Economic Digest and BMI Professional Training Centre will co-organize the “Corporate Finance and IPO” course series, which includes 6 interrelated topics. The course series is suitable for the people who demonstrate strong interest in corporate finance and listing rules issues, corporate decision-makers who plan for listing and other professionals, including financial controllers, accountants, legal advisors and senior executives. The objective is to offer participants an in-depth understanding of Hong Kong listing rules, procedures and requirement .
After completing the full course, participants can not only receive the attendance certificate, but also become a member of the International Finance Management Association (IFMA) in Hong Kong Headquarter for free.
Course Name
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Date
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Time
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The integration of Mainland enterprises and Hong Kong’s capital market |
11/7 (Wed) |
18:30-21:00 |
Process and the new regulations for listing |
18/7 (Wed) |
18:30-21:00 |
Corporate valuation and arrangements of financial and accounting |
25/7(Wed) |
18:30-21:00 |
Business and assets restricting in preparation for listing |
1/8 (Wed) |
18:30-21:00 |
Sponsor’s IPO Due Diligence |
8/8 (Wed)
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18:30-21:00 |
Case studies of successful listing |
15/8 (Wed) |
18:30-21:00 |
For further information, please visit our website:http://www.bmiptc.com.
Or contact Ms. Gloria Tsui at (852) 3970 9233/ gloria.tsui@bmintelligence.com.
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Tailor-made corporate training – Directors' Training
BMI Professional Training Centre Limited strives to provide professional, high quality and reliable training courses. Apart from regular courses with fixed schedule and content, we also tailor-made corporate training courses that fulfill unique demands of corporate clients.
We are now launching severals key corporate training course series, which covers a comprehensive range of topics related to listing rules, including director responsibility, code on corporate governance, responsibility of the Board of listed companies and overview of Hong Kong Listing Rules etc.
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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: China Environmental Technology Holdings Ltd
Stock code: 0646
Circular issue date: 14-5-12
Project nature: Property valuation |
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PROJECTS RECOMMENDATION |
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.
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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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Change of Auditor - BMI Corporate Services Limited
With reference to rule 13.51(4) of the Rules Governing the Listing Securities on The Stock Exchange of Hong Kong Limited (the “HKEx”) (the “Listing Rules”), if a listed company changes its auditor, it should inform the HKEx immediately and publish an announcement with the reason(s) for the change and any other matters that need to be brought to the attention of holders of securities of the listed company (including, but not limited to, information set out in the outgoing auditor’s confirmation). The listed company must also state in the announcement whether the outgoing auditor has provided a confirmation that there are no matters that need to be brought to the attention of holders of securities of the company. If no such confirmation has been provided, the announcement must state the reason for this.
Meanwhile, according to rule 13.88 of the Listing Rules, a listed company must at each annual general meeting appoint an auditor to hold office from the conclusion of that meeting until the next annual general meeting. A listed company must not remove its auditor before the end of the auditor’s term of office without first obtaining shareholders’ approval at a general meeting. A listed company must send a circular proposing the removal of the auditor to shareholders with any written representations from the auditor, not less than 10 business days before the general meeting. A listed company must allow the auditor to attend the general meeting and make written and/or verbal representations to shareholders at the general meeting.
According to section 131(6) of the Companies Ordinance, a company may by ordinary resolution remove an auditor before the expiration of his term of office, notwithstanding anything in any agreement between the company and the auditor; and, where a resolution removing an auditor is passed at a general meeting of a company, the company shall within 14 days give notice of that fact in the specified form to the Registrar of the Companies.
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 change of auditor of a listed company, please contact:
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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Cost Effective and Economic Package for Listed Companies (AGM & PC)
BMI Innovation Limited is proud to offer an economic and cost-effective package for listed companies in preparing their Results Announcement (PC) and Annual General Meeting (AGM). Not only is the rental of conference room included in the package, we also provide professional financial PR service to assist clients in their compulsory announcements. Backed up by our professional, experienced and flexible team, we strive to ensure every Annual General Meeting and Results Announcement a great success.
For further details, please contact Ms. Gloria Tsui at (852) 3970 9233 or via email: gloria.tsui@bmintelligence.com
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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. |