Executive Committee
2004/2005

The following officers have been elected to serve the HKVCA from July 2004 to June 2005.


Chairman
AsiaTech Ventures Limited
Mr. Hanson Cheah
Vice Chairman JAFCO Investment(Hong Kong) Limited Mr. Vincent Chan
Treasurer Walden International Mr. K.O. Chia
Secretary PPM Ventures Limited Mr. Allan Homeming
Member 3i Asia Pacific Plc. Mr. Jamie Paton
Member Baring Private Equity Partners (HK) Limited Mr. Jean Eric Salata
Member China Merchant Holdings (International) Co. Ltd. Mr. Timothy Shen
Member Citicorp Capital Asia Limited Mr. Gordon Clancy
Member General Enterprise Management Services(HK) Limited Mr. Kevin Yip
Member JP Morgan Partners Asia Pte. Limited Mr. Stephen King
Member PAMA Group (Hong Kong) Limited Ms. Monica M. Tsui
Member Telecom Venture Group Limited Mr. Varun Bery
     

 

 

Year 2003/2004 in Review
Chairman Kevin Yip

INTRODUCTION
The year 2003/2004 is one of extraordinary recovery for Hong Kong and Asia. No one has expected the recovery to come as quickly and with such vigor after the problems we had with SARS. Booming exports, stunning rise in the stock market, and spectacular increases in property value all led to a healthy rebound in consumer confidence. This finally brought about a steady decline in unemployment and a reversal of the deflationary pressure which have had such a negative impact on the economy these past years.

This is also true for our industry. Since our last report, we have witnessed a broad based upswing in the Asian Private Equity market after a period of almost zero activity during the second quarter of last year. This is reflected in the healthy rise in activities relating to new investments, exits, and fund raising. The industry has weathered the problems of 2001 to 2003 well, and in the process it has strengthened its role as a value-added investor by assisting investee companies in business integration, management, financial controls, communication, and marketing. Many of the companies we have supported have achieved excellent returns and we have seen a number of good exits during the year.

Despite recent efforts to slow down the economy, China continues to lead growth in Asia, complimented by a Japan whose economy seems to have finally turned the corner for good. We are seeing larger transaction sizes and hopefully with that an increasing inflow of new funds into Asia. We are encouraged by the relatively pragmatic approach of China's new generation of leaders. Their continued ability to balance stable growth with the economic aspiration of the population will be a key to sustaining its economic growth and development. And Hong Kong will of course continue to be a major beneficiary of it.

Our industry has changed. It has grown from one asset class, which was largely development capital, to the full range of private equity which now includes buyouts, technology and venture funding, to mezzanine and distressed debt. This increase in activity has been in part a result of a long and difficult restructuring process after the Asian financial crisis and the subsequent reforms made by theAsian economies.

Within our own industry, we have also been working on issues relating to corporate governance and transparency in disclosure in order to attract new funds.

We at the HKVCA represent the private equity community, and we focus on building an environment that will be conducive to the continued growth of the industry in Hong Kong. During the year, your Exco put together a Road Map with the formation of seven committees to move our initiatives forward.

We continue to put in a significant amount of time and efforts in raising the profile of the industry through seminars and conferences in Hong Kong and China to educate potential investee companies, our investors as well as the public at large.

One of the primary focus for us this year has been on developing performance data and benchmark for our industry. A great deal of effort has been undertaken in this initiative and we sincerely hope all members will support and participate fully in this effort to ensure that results are meaningful. This is not and should not be a one-time effort but will be a multi-year program. This is the only way we can further develop the private equity business in Asia by attracting genuinely long term and institutional investors.

Another issue of importance to the industry is the question of profit tax exemption currently under discussion with the government. During the year your Association submitted its formal position paper to the Secretary of Financial Services and Treasury, and deliberations are currently underway.

As always your Association welcomes your input and participation.

The list of our activities during the year provided to you will give you details of the work of the Association. The Executive Committee and Sub Committees have devoted considerable amount of time, meeting formally at least twice or more a month, to execute the various initiatives of the Association. We are very grateful to them for their commitment and efforts. These are all very busy people with extensive travelling schedules. On behalf of the HKVCA, I would like to thank them for their service and commitment.

From my own personal perspective, I have been involved with our Exco for ten years, and I can say that our committee members have never been more active. And there has never been more support from them and from their respective institutions. This is a very positive development for our members and for our industry. Again a huge note of thanks to those of our Exco members who have devoted much of their time and efforts to the HKVCA.
 

HKVCA Venture Capital/ Private Equity Partnership Conference
13 September 2004, Hong Kong Convention and Exhibition Centre

The year 2003/2004 is one of extraordinary recovery for Hong Kong and Asia. It witnessed a broad based upswing in the Asian Private Equity market, with a healthy rise in activities relating to exits, fund raising, new markets and new paradigms. Its activities had increased and it has grown from one asset class, development capital to the full range of private equity which now includes buyouts, technology, mezzanine and distressed debt. The industry has not only weathered the crisis of 2001 to 2003, it has strengthened its value added role in assisting companies in which they have invested in business integration, management, financial controls, communication, and marketing. Many of the companies supported by private equity have achieved excellent returns, leading to a steady stream of exits during the year.

The Venture Capital Partnership Conference is the major annual event for the Association. This year the discussions will focus on how venture capitalists and private equity funds have invested with excellent results and the opportunities they now seek. An understanding of the way they support a company and the value add they provide to companies to achieve the next level of development. The conference will be useful for CEOs, CFOs, corporate executives, entrepreneurs as well as leading industry practitioners.

Program:
Morning session
Afternoon session
0800 Registration
   
0810 Breakfast
   
0900 Opening remarks
Chairman HKVCA
   
0915 Landscape
The past 5 years were fraught with a series of crises. Reflections on how VCs and their companies have found creative ways of dealing with the challenges and how VC/PE has developed since.
The range and growth of domestic and regional funds.
The challenge met
   
1030 Coffee break
   
1100 Returns
Companies backed by VC/PE have made excellent returns, poised now for growth into the next level.
Cases covering different sectors on how value was created
   
1245 Lunch
Keynote speaker
 
 
1415 New Sources of Funding
Reforms/ Transparency
   
1500 Seeking Out New Opportunities
Manufacturing, Telecom, Logistics
Regional and China strategies
   
1600 Coffee break
   
1630 Tapping the Capital Markets
Helping businesses develop strong financial structures
Equity/ IPO, Trade Sales, Mezzanine
   
1730 Closing discussion
Observations from the panel
   
1815 Cocktail and wine tasting
 

 



New Members Welcome

Full Member

Celestial Asia Securities Holdings Ltd.

 

Associate Member

Hill & Associates Ltd.

Dr. David Michael Miller-Martini íV University Researcher

 

 



2004 China Venture Semi-Annual Forum

July 22, 2004

Please click
http://www.zero2ipo.com.cn/cvcf/default.htm
http://www.zero2ipo.com.cn/cvcf/CVCF-Forum.pdf for details

 

 



Seminar for promoting Hong Kong's R & D capabilities
and outputs to enterprises in Pearl River Delta PRC

Hong Kong Innovation Technology Commission, HKSAR will organize a series of seminars for promoting Hong Kong's R & D capabilities and outputs to enterprises in Pearl River Delta PRC. The fist seminar will take place at Guangzhou, details of first seminar are as follow:-

Date: 22 July 2004
Venue: China Hotel, Guangzhou
Time: 9:00am - 5:30pm

Free : Seminar, transportation and lunch are free of Charge, participants only pay for accommodation

For further queries, please contact Ms. Angela Yu
TechMart, Hong Kong Productivity Council
HKPC Building, 78 Tat Chee Avenue
Kowloon Tong, Hong Kong
Tel: (852) 2788 5904
Fax: (852) 2788 5413
email: angelayu@hkpc.org
website: www.hktechmart.com www.hkpc.org

 

 



Public Securities Offering - Cross Border Listings by China Firms

Organized by: IBC Asia(S) Pte. Ltd.
5-6 August, JW Marriot, Hong Kong

 



Richwap Company Limited


Nature Business: Enterprise Mobile Computing Software Development
Funds Required: US$ 1,000,000

Project Details:
Richwap is a leading Enterprise Mobile Computing solution provider based in Hong Kong. Richwap markets its award winning Mobile Facilities Management System and Pocket Info Center solutions to organizations seeking to gain competitive advantage and staff productivity by extending applications to mobile handheld devices for their sales and service teams. The company's mobile solution architecture is designed to dramatically reduce the time and effort to add mobility to enterprise applications and corporate data for their workforce and executives on the move.

Richwap plans to expedite its productization and sales/marketing effort to capture the emerging mobile computing business opportunities in Hong Kong and China. Since its establishment in 2000, Richwap has experienced steady growth that started with 3 founders to 15 staff today. Richwap is seeking to finance the expansion plan that will place Richwap in a leadership position in the mobile computing markets in Hong Kong and China.

Contact Details:
Address: Suite 2109, 21/F, 8 Wing Hing Street, North Point, Hong Kong
Website: www.richwap.com
Contact Person : Mr. Harold Tsang
Email: harold.tsang@richwap.com
Tel.: Off: +852 3106 8002 Cell: +852 9253 5678
Fax: +852 2887 9983

 

 



Sycra (Hong Kong) Group Limited

Nature Business: Software Developer, Management and Operational Consultants
Funds Required: The total development budget is $HK68 million, but this is for the total suite of software. Sales revenue would be expected after $HK24 million with a further $HK9 million to fund the initial launch and marketing of the package. It is anticipated that some corporate funding, from the lead users, would be forthcoming but this is yet to be finalised.

Project Details:
This project's purpose is to develop, market, and implement an Enterprise and Personal Software Suite. It has been conceived after extensive research into the theories and practises of business operation and management. It integrates tried and proof best practices into the daily work of an enterprise. It provides full process life cycle management and visibility, by providing the applications that define needs, plan responses, determine and allocate resources, initiate work, monitor progress, and evaluate the result's quality. It enables the changes, that impact an enterprise, to be sensed, reported, adaptively responded too.The project involves a cooperative develop, with major international corporations as lead users, industry and discipline experts who will design the best practice templates, a team of local Hong Kong IT experts who will define detailed requirements, complete the design, manage the build, and test document and package the suite, together with software programmers from a lower cost development location. As the project is progressively completed a sales, marketing, consulting and support organisation will be created to realise the multi hundred million per annum sales revenue in three years.

Sycra-Solutions provides a revolutionary new approach to managing and operating any enterprise, yet it embeds the tried and proven processes. It provides a core generic metadata structure that enables business users, without detailed IT competencies, to enhance the data and information structures to meet specific needs of their enterprise. This can also be achieved without requiring software modifications to the core enterprise process operational and management engines, and other specialised functions. Sycra-Solutions offers large corporations, SMEs, and individuals one software environment for the whole organisation, and using the latest web, messaging, and software infrastructural technology, integrated with a comprehensive life cycle process manager to provide a new approach to management and operations, that enables them to quickly and effective adapt to today's fast changing environment.

Contact Details:
Address: 4a 11 La Vista, Discovery Bay.
Contact Person: Mr Ross Amer
Email: ross.amer@sycra.com
Tel.: (852) 82012360
Fax: (852) 30201526

 

 

All the newsletters will be sent by email. To receive by fax, please contact Mr. Alex Tsang at
Tel: (852) 2845 6100
Fax: (852) 2526 2713
Email: enquiry@hkvca.com.hk