COMING EVENT

COMING EVENT

Date: September 10, 2010 (Fri)

Time: 12:30 – 2:00 pm

Venue: The China Club,
14/F Old Bank of China,
1 Bank Street, Central, Hong Kong

Speaker: Marshall Mays
Director
Emerging Alpha Advisors Ltd

Notes:
1. This event is for FULL MEMBERS only.
2. Limited to the first 25 registrants. Please register early.

COMING EVENT

Date: September 28, 2010 (Tue)

Time: 3:00 – 5:00 pm

Venue: HKIS Learning Centre
8/F Jardine House, 1 Connaught Place, Central, Hong Kong

CPT points: 2

Outline:

Part 1 - Update on fund regulation in Europe and United States - and the consequences for Private Equity Funds in Asia!
Both the European Commission and the United States Congress are issuing more stringent compliance rules and regulations for the fund industry. We will briefly discuss the consequences of these new rules for the Asian Private Equity funds.

Part 2 - How to best structure your acquisition further to the tax changes in China and India?
In this part, the speakers will briefly outline the opportunities to lower tax costs so to increase the fund's return by setting up intermediate holding companies. The countries which are typically considered as intermediate holding jurisdictions will be presented from a tax and practical perspective. Further, local developments (China, India etc.) which may limit the benefits of offshore holding structures will be discussed.

Panel discussion: Case studies for investments into China, India, Japan

Speakers: Karen Kaur, Partner, Deacons
Nigel Hobler, Principal, KPMG
Miriam Keusen, Senior Manager, Tax, KPMG
Diederik Werdmölder, Regional Director, Business Development Asia, ATC Hong Kong
Brian M. McDaniel, Partner, Goodwin Procter LLP

Accreditation
SFC: Licensed individuals may claim CPT points on the courses taken which their employers consider those courses as relevant to the functions to be performed by them.
COMING EVENT

Date: October 22, 2010 (Friday)

Time: 12:30 – 2:00 pm

Venue: The China Club,
14/F Old Bank of China,
1 Bank Street, Central, Hong Kong

Online:
Why invest in private assets classes?
Rationale and long-term returns
Recent trends in private investing
What has changed post global financial crisis?
Lessons learned
   
What is the role of private asset classes in the portfolio?
The spectrum of private strategies
Return and other objectives
Role of real assets
   
Investment philosophy and strategy
Determining target allocation, investment pace and commitment sizing
Importance of diversification, by vintage year, geography, etc.
Role of secondaries
   
Implementation: opportunities and challenges
Key success factors
Track records in Asia
Alignment of LP/GP interest
   
Q&A

Speaker: Anouk van der Boor
Managing Director
Cambridge Associates Asia

COMING EVENT

HKVCA Members are invited to join the next breakfast meeting to networking and information share.


Date:
 September 6  October 4
   
 November 1  December 6

Time: 8:00 - 9:00am

Venue: The Hong Kong Club

Seats are limited and registration is on first-come-first-serve basis.

For enquiry, please call (852) 2845 6100.
COMING EVENT

The Hong Kong Business Angel Network ("HKBAN"), a network established by the founding members HKVCA, Hong Kong Science and Technology Parks and the technology transfer offices of the major universities in Hong Kong.  HKBAN is a platform for angels and entrepreneurs to facilitate the funding and development of young businesses.

The next pitching session is scheduled in mid September 2010. HKVCA is now soliciting the registration of angels who invest in seed and early stage opportunities raising up to HK$5,000,000. Please recommend colleagues, friends and investment partners who may be appropriate as angel investors.

For registration, please send the completed form to Sam Wong at swong@hkvca.com.hk or Tel: 2845 6100.
 

RESOURCE

China taxes indirect transfer of PRC company by nonresident (July 2010)
Investors into Chinese companies, when making their investments, have always considered the option of using intermediate holding companies through which to hold their investments in those Chinese companies. To date, the majority of investors, in fact, do so. The decision of the Chinese tax authorities in the recently reported Jiangsu case underlines the need for investors who have used intermediate holding companies to hold their investments in Chinese companies to revisit their decisions; urgently, if the amount of tax payable on the disposal of the intermediate holding company is a significant factor in the investment decision.

Hong Kong SAR Signs Comprehensive Double Taxation Agreements with U.K. and Ireland (July 2010)
Hong Kong concluded comprehensive double taxation agreements ("DTAs") with U.K. and Ireland on 21 June 2010 on 22 June 2010 respectively.  The new DTAs provide U.K. and Ireland investors with greater certainty as to their tax liabilities in connection with cross-border investments with Hong Kong and vice versa.  This article covers the key tax benefits of the DTAs and provides a comparison of tax treatment of dividends, interest and royalties in Hong Kong's DTAs with key European holding jurisdictions.

SEC registration for non US advisers under the Dodd-Frank Act (July 2010)
President Obama has now signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. Included in the Act are amendments to the SEC registration threshold for investment advisers which are likely to impact a very large number of non US fund managers who were not previously required to register with the SEC.

EU DIRECTIVES RELATING TO THIRD COUNTRY REGIMES
   
EVCA – "Third Country Treatment under Alternative Investment Fund Manager (AIFM) Directive" (July 2010)
   
HKVCA letter to HK Government with respect to Proposed European Directive on Alternative Investment Fund Managers (June 2010)
 
OTHER EVENT Supported by HKVCA

Clean Technology Investment World Asia 2010

Date: 31 August – 3 September 2010
Venue: Kowloon Shangri La, Hong Kong
Organizer: Terrapinn

30% DISCOUNT for the first 20 HKVCA members

ALL HKVCA MEMBERS ARE ENTTILED TO 30% DISCOUNT BASED ON THE CURRENT PRICE. THIS OFFER IS VALID ONLY UNTIL FRIDAY, 13 AUGUST 2010 AND IS EXCLUSIVE ONLY TO THE FIRST 20 HKVCA MEMBERS TO REGISTER. PLEASE FILL UP THE ATTACHED FORM COMPLETELY AND PUT A NOTE ON THE REGISTRATION FORM THAT YOU ARE AN HKVCA MEMBER.

Clean Technology Investment World Asia is Asia's leading platform where investors, financiers, energy users, governments, clean technology innovators and business leaders convene to identify investment opportunities, raise capital, access licensing rights to new innovative technologies and form strategic partnerships.  As Asia is fast dominating investments in Cleantech, it is critical to provide a venue for Asian cleantech companies to access global capital to commercialize these technologies.  This event is supported by the China, Singapore and India Governments + over 20 media and Cleantech and Investor associations.  To learn more about the event, please visit here.
OTHER EVENT

ABCs of Mining

Date: September 1 & 2, 2010
Venue: Foreign Correspondents Club, North Block, 2 Lower Albert Road, Central, Hong Kong
Organizer: Behre Dolbear
Registration: 10% discount on registration

The two-day program will be geared toward individuals who wish to learn more about the mining industry and those needing a refresher on mining fundamentals and the business of mining. Presenting will be senior Behre Dolbear staff from a number of global offices.

Agenda for the course is:
The State of the Mining Industry ; Review of HKSE Chapter 18 rules ; Bankable Feasibility Studies and the Due Diligence Process ; Mineral Exploration:  A Process that Creates Wealth ; Resource and Reserve Classification Systems and NI 43-101 Reports ; Open Pit:  Mining Methods and Costs ; The World of Underground Mining ; Mineral Processing Methods ; Smelting ; Environmental and Sustainability; Minerals Marketing ; Global Risks Inherent in Mining ;Iron Ore ; Coal ; The Valuation of Mineral Properties.

HKVCA members can enjoy 10% off discount on registration. To register, pls contact Sam Wong at Tel: 2846 6100 / Email: swong@hkvca.com.hk.
OTHER EVENT Supported by HKVCA

2010 China RMB VC/PE Fund Forum

Date: September 3, 2010
Time: 8:30 am – 8:00 pm
Venue: Shangri La's Kerry Centre, Beijing
Language: Mandarin, English
Organizer: China Entrepreneurs
Registration: 20% discount for HKVCA members

The 2010 China RMB Funds Forum is an event to help investors understand the various kinds of structures available when setting up an RMB equity investment fund in China as well as give insights into the investment strategies and trends associated with RMB funds. Also, it will offer new information on current hot topics like the harmonious development of RMB Funds and U.S. dollar funds, risk control, exit mechanisms, and management of RMB funds. Together with the world's top investors, business elites, government officials and industry leaders, the forum will be an opportunity to discuss, analyze, and predict the trends of the RMB funds and make full use of its development opportunities. Please click here for registration
OTHER EVENT Co-organized by HKVCA

SME Equity Financing Forum of the 7th CISMEF

Date: September 16, 2010
Time: 9:00 am - 5:30 pm
Venue: Marriot China Hotel, Guangzhou
Language: Mandarin only
Organizer: The Bureau of China International SME Fair, Guangdong Provincial Government
Registration: Free of charge (pre-register)

Authorized by the State Council, the 7th China International Small and Medium Enterprises Fair (CISMEF), jointly organized by the Ministry of Industry and Information Technology, the National Development and Reform Commission, Guangdong Provincial Government, will be held on September 15th -18th, 2010. Approximate 4000 enterprises home and abroad will attend the largest SMEs fair in China which will generate more than 200,000 visits altogether.

The SMEs Equity Financing Forum and Business Matching session will be held on the 2nd of the Fair for the purpose of supporting innovative development of SMEs, as well as providing opportunities for equity investors to intensively communicate with industry elites and find the promising project. Leaders of potential listed enterprises from 21 cities in Guangdong Province as well as from other 30 provinces, autonomous regions and municipalities in China, representatives of outstanding SMEs and China leading investing and financing institutes will be invited to seek common development plan in the forum.

For more details, please visit here. Please register first by filling the Application Form.

OTHER EVENT Supported by HKVCA

2010 Shanghai International Private Equity Forum

Date: September 21, 2010
Time: 8:30 am – 8:00 pm
Venue: Westin Hotel, Shanghai
Language: Mandarin, English
Organizer: SHPEA
Registration: 20% discount for HKVCA members

The "2010 Shanghai International Private Equity Forum"(SIPEF) will be held on the 21st of September 2010, in the Westin Hotel, Shanghai which is co-sponsored by the Shanghai International Private Equity Association, CEIBS Lujiazui International Finance Research Center, Shanghai Huangpu District People's Government and Asian Venture Capital Journal Group (AVCJ). The topic of this forum is "China's Economic Transformation and Private Equity Investments". The aim of the forum is to provide high level dialogues and exchanges with in-depth discussion in the forefront of the Chinese equity investment industry.

Should you need more details, please contact Ms. Grace Zhou at email: zhouye@shpea.com
OTHER EVENT Supported by HKVCA

SuperReturn Asia 2010

Date: 27-30 September 2010
Place: JW Marriott, Hong Kong
Organizer: ICBI
Registration: 15% discount for HKVCA members

Hear from 150 speakers including 50+ influential LPs such as CHINA INVESTMENT CORPORATION, KOREA INVESTMENT CORPORATION, EMPLOYEES PROVIDENT FUND MALAYSIA, STANFORD MANAGEMENT COMPANY, THE CHURCH PENSION FUND, OMERS PRIVATE EQUITY; and local & international private equity heavy-weights such as Antony Leung, The Blackstone Group; Frank Tang, Fountainvest Partners; John Ehara, Unison Capital; And Stephen Peel, TPG Capital and many more.

In addition to the thought-leadership side, the social agenda and networking facilities - including the MySuperReturn Asia e-Networker, Speed Networking & Quickfire Showcase - makes this a must-attend event for meeting over 700 global industry players (200 LPs attended in 2009). 

Attend the special focus China Summit on 27 September and learn about the latest developments and trends for investing in China by leading GPs such as Wu Shang Zhi, CDH; John Zhao, Hony Capital; Andy Yan, SAIF. And the LP view from Squadron Capital, Adveq  Management & EDC Equity to mention but a few.

Plus get up close and personal with powerful LPs during the LP/GP Relations Summit also on 27 September.

For more details and registrations: http://www.icbi-events.com/srasia-hkvca or email alangmaid@icbi.co.uk.

15% discount – quote VIP: KR2245HKVCA when you register.
OTHER EVENT Supported by HKVCA

2010 China International LP Summit

Date: November 7, 2010
Time: 8:30 am - 5:30 pm
Venue: JinRong Street, Beijing
Language: Mandarin and English
Organizer: Jinrong Street PE
Registration: 30% discount for HKVCA members

The 2010 China International LP Summit aims to provide a platform for Limited Partners and General Partners to gather, share intelligence and study about the private equity market in China. This summit is of the highest class among its kind and you are most welcomed to participate in this event. If interested in attending the summit, please visit here.
 
   
HKVCA needs the assistance of PE funds in our response to EU Directives on regulations related to Asian Private Equity funds
Questionnaire  
Our letter to HK Government
EVCA – "Third Country Treatment under Alternative Investment Fund Manager (AIFM) Directive"
EVENT CALENDAR
August 26
Mixer:
Movie Financing
September 10
Full Members Sharing Series
Lunch with Economist: Investment Strategies
September 24
Masterclass:
What are your Optimal Private Equity Holding Jurisdictions given the recent major changes in China and India
October 22
Luncheon Talk:
The Role of Private Equity in the Portfolio
PAST EVENT REPORT
HKVCA Member Monthly Breakfast
July 5, 2010



The HKVCA Member Monthly Breakfast is generally scheduled on the first Monday of each month. It provides an excellent opportunity for our members to network and to meet our Executive Committee.
NEWS UPDATE
The Asian Banker interviewed Mr. Vincent Chan, Co-President of HKVCA
July 13, 2010

The Asian Banker interviewed Mr. Vincent Chan, Co-President of HKVCA in Singapore. Mr. Vincent Chan shared his views on what are the enduring and substantive issues that are affecting China today.

Mr. Vincent Chan spoke at the "HK-Japan Technology / Equity Partnership Forum" in Tokyo
July 21, 2010

Mr. Vincent Chan, Co-President of HKVCA, was invited as the Guest Speaker at "HK-Japan Technology / Equity Partnership Forum" in Tokyo. Mr. Vincent gave a speech on the current status of Hong Kong PE and IPO market.

HKVCA takes an active role at The Young Entrepreneur Development Council (YDC) Entrepreneurs Challenges / HK Business Plan Competition
Jun 28, 2010

To support the entrepreneurial community, HKVCA is on the judging panel of the YDC E-Challenges and Business Plan competition 2010. (more...)
Member Notice
HKVCA is pleased to announce that members can enjoy 10% discount off the standard rate on subscription to the weekly AVCJ magazine and Asian Private Equity Directories www.avcj.com.

Please contact Ms. Sally Yip (sally.yip@incisivemedia.com) for the magazine and directories subscription.
Listing in SVCA Directory 2010/11
Every year, the Singapore Venture Capital Association (SVCA) updates and compiles their members' information into a useful reference for the local as well as international business community. In an effort to produce a regional directory guide for Southeast Asia this year, SVCA would like to invite our members to list their company's information in the directory:

Free listing for all VC/PE members. Please use this e-form.
   
Listing for Non-VC/PE members in the directory, please visit here.
JOB CORNER ON HKVCA WEBSITE


Attracting and retaining talent has always been the key to long-term success of any great company. HKVCA welcomes member firms to advertise their openings on HKVCA website. If there are vacancies in your firm, please fill in the attached form and email to enquiry@hkvca.com.hk

Each opening will be posted on HKVCA's website for one month. The service is free of charge.

:: Job Placement Form ::

STATUS AS A RECOGNISED INSTITUTION FOR PROVIDING CPT (CONTINUOUS PROFESSIONAL TRAINING)
The Hong Kong Securities and Futures Commission (HKSFC) has approved HKVCA as a Recognised Institution for Providing CPT (Continuous Professional Training). HKVCA's training courses, seminars, summits, conferences and forums may be applicable for claiming CPT points. For more details, please refer to "Education" section of our website.
HKVCA SPEAKERS


HKVCA receives regular requests from various trade bodies and associations for speaker roles. Would you like to get involved and speak on behalf of HKVCA and promote our association and industry? Please contact Patricia Chiu at Tel: (852) 2845 6100 or patchiu@hkvca.com.hk to enroll on our speakers list.
 
 

Hong Kong Venture Capital and Private Equity Association Limited
Tel: (852) 2845 6100      Fax: (852) 2537 0086
Website: http://www.hkvca.com.hk      Email: enquiry@hkvca.com.hk
 
Disclaimers
The HKVCA newsletter may contain information that is created and maintained by a variety of sources both internal and external to HKVCA. The newsletter may contain the personal opinions and other expressions of the persons who post the entries. HKVCA does not control, monitor or guarantee the information contained in links to other external web sites, and does not endorse any views expressed or products or services offered therein. In no event shall HKVCA be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods, or services available on or through any such site or resource.