Dear Colleagues,
I took up the post as the Chairman of the Asia Pacific Region during the Regional Conference held in Macau in April 2008, and it is my honor and privilege to present this message to you in such capacity.
The conference in Macau was successfully held with nearly 30 delegates from the Region. Topics on “Enterprise Income Tax in China”, “Using Hong Kong as an Investment Vehicle”, “Intellectual Property Protection in China”, “Corporate Governance in China”, etc., were covered. There were open forums for delegates to exchange ideas on plans and strategic development of the Region.
A new taxation committee was formed with Ms Vimala Devi of BSL Tax Services, Singapore, as the Chairperson. Vimala is a tax specialist, and she has formulated a good working plan for the Committee in 2008. Her first task aims at preparing a tax chart for the Region, comparing basic tax information of different countries.
A new corporate structure for the Region has been established under the name “AGN International Asia Pacific Limited”, which is a company limited by guarantee in Hong Kong. It is an autonomous unit attached to AGN International. The main objective of the corporate structure is to provide a platform for members’ services in the Region. It is expected that such structure would make the relationship of member’s firms more cohesive and their needs are better served.
It is noted with regret that our member firm in Philippines has left the organization. The Board has determined to look for a replacement in the country as soon as possible. There are enquiries from professional firms in Hanoi, Vietnam and Qingdao, China to join us. Application packages have been sent to them for completion.
With the assistance of the AGN International corporate communications coordinator, a new website of the Asia Pacific Region is on the way. Hopefully, not far from now, the website will be fully operational, which would facilitate better communication among member firms in the Region.
The subprime crisis in the United States is far reaching. Financial institutions and businesses in general in Hong Kong and China have been gradually caught in the web of financial turmoil. Stock markets in the two places had significant adjustments in recent months. Despite the fact that China has had very strong growth in the past few years, economic correction in short and medium terms is expected. The China Government has already carried out stringent measures to suppress inflation in order to stabilize the economy. Hopefully, the Olympic Games in Beijing, for which the China Government has put in great determination and commitment to quality, has brought joy and harmony to the World.
Let’s share the Olympic spirit.
Ricky Wong
Chair, Asia Pacific Region
Wong Brothers & Co.
Hong Kong
rickywong@wongbros.com.hk |
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