2006: A Year of Exciting Events

Tricorian The Tricor Newsletter

December 2006 Contents

Message from the Managing Directors 1

A Year of Tremendous Activity 3

Acquisitions and Further Growth 5

Advancing Professional Frontiers 7

Tricor Seminar 10

Business Development 12

Staff Development 15

Staff Events 19

Tricor in the Community 24

Tricor Contacts 26 Message from the Managing Directors

Dear Colleagues, Valued Clients and The offi cial opening of Tricor Thailand’s new Business Partners, offi ce took place in Bangkok in September. Our Thailand CEO, Khun Munthana, offi ciated at the Welcome to the December 2006 issue of Buddhist opening ceremony and Group the Tricorian! Chairman Dr David Li and CEO Johnny Ng joined the celebrations. Tricor in Three Pacifi c Place Year 2006 is an exciting year for Tricor and To facilitate intra-group and client Tricorians. We started off, in January, with the communications, our Information Technology moving of our two offi ces from Central and Department in Hong Kong has been assisting our Wan Chai to our new Headquarters at Three Kuala Lumpur and Bangkok offi ces in setting up Pacifi c Place, 1 Queen’s Road East. At present, new IT infrastructures and email systems. These our fl agship in Hong Kong spans more than are now in place and in line with the Hong Kong 70,000 sq ft in area and we are happily settled. offi ce systems.

Welcome, Executive Directors Group business continues to grow apace. In We are pleased to welcome fi ve Executive the Hong Kong investors market, our Investor Directors to the management team. They are Services Division provided services for 26 Initial Shirley Tsang and H C Ying of Business Services, Public Offerings (IPOs) in 2006, riding on bullish Natalia Seng and Betty Yeung of Corporate market sentiment. On the Corporate Secretarial Services, and Allan Tong of Investor Services. front, with the increasing number of listings on the Hong Kong Stock Exchange, increasingly also Acquisitions and Growth our directors have been appointed as company There have been continuing acquisitions and secretary / joint company secretary of listed growth for the Tricor Group. We completed the issuers. acquisition of Malaysia businesses in January, which added two more cities to our As of December 2006, the Tricor Group operates map. Following the acquisition of the Ernst & in 10 cities, with plans to increase our cities of Young business services practice in Mainland operation to 12 or more in 2007. Group China in October 2005, we opened another headcount is now some 1,000, with 625 making offi ce in Shenzhen. In January 2007 our Beijing up the Hong Kong offi ce. We wish to extend offi ce will be relocated to accommodate the our warmest welcome to all newcomers to the needs of an expanding clientele and staff. continually growing Tricor family!

1 TRICORIAN Dec 2006 Tricor Seminars Alison Lai, subject prizewinner of “Strategic and Tricor’s second Regional Executive Seminar on Operations Management”, and Sharon Lai, “Career in a Healthy Lifestyle” was held in Hong subject prizewinner of “Corporate Kong in February. The choice of theme refl ects Administration” in the June 2006 examinations Tricor management’s ‘People Care’ focus. of The Hong Kong Institute of Chartered Secretaries (HKICS). Well done, everyone! In November, we held our annual client seminar on “Corporate Governance and Listing Rules Advancing Professional Frontiers Updates” in Hong Kong. Response to our Topping the excitement of 2006, Natalia Seng invitations to the seminar was overwhelming. and Allan Tong have been elected respectively Feedback was most positive. as HKICS President and Chairman of the Federation of Share Registrars Limited. Our People Congratulations, Natalia and Allan! Our people are the most valuable asset of our organization. As an Employer of Choice, we Tricor in the Community strongly believe in promoting the continuing We are proud, also, to bring you news of various professional development and general well involvements of Tricor staff in the community. being of all our staff. In 2006, we continued to offer targeted staff development activities Thank You as well as exciting events for staff and families The arrival of 2007 will bring further challenges through our Sports and Recreation Committee. to our Group. With your continuing support, the Tricor team spirit will keep us in good stead and Our staff, too, have taken their professional take us to further heights of achievement. development into their own hands. We wish to congratulate those of our staff that have On behalf of the Management, we wish to become certifi ed public accountants and thank every single Tricorian for your hard work, chartered secretaries, and completed all contribution and devotion to the Group in 2006. professional examinations or second degrees in the year. In particular, our good wishes go to In closing, we wish you and your families a happy, healthy, and prosperous new year.

Johnny Ng & Julian Chow Managing Directors December 2006

2 TRICORIAN Dec 2006 A Year of Tremendous Activity

Tricor has seen a year of tremendous activity, in a new high. Local and overseas investors alike particular, in our Investor Services and Corporate joined in the oversubscription one after the Services Divisions. other. In December alone, Tricor completed 7 IPO assignments with great success, including popular issues such as the spin off of Kingboard Investor Services Chemical, Neo Neon, Embry, The Sunlight REIT and SCUD. Tricor’s Investor Services Division (IS) has seen a year of exceptional activity – riding on an The extent of oversubscription to major IPOs extraordinary surge of Initial Public gave a hint of the behind the scenes support Offerings (IPOs) on the Hong Kong Stock that we provided to our client issuers. Our Exchange (HKSE). The Hong Kong stock market in-house team, supported by some 300 continues to be bullish, with indexes rising to checkers on call as and when required, dealt record highs. with all matters with scrupulous attention and unfailing professionalism. In the fi rst half of the year we took up as many as 12 important IPO assignments, out of a total Over the year our IS team achieved a of 26 IPOs on HKSE (46% of total). All projects remarkable record in terms of capital attracted enthusiastic responses from generated, subscriptions received, applications subscribers, in tune with market sentiment. processed and revenue received. Among these, the following were Congratulations to our hardworking overwhelmingly subscribed: IS colleagues on their excellent performance!

• Nine Dragons Paper (Holdings) Limited - oversubscribed by 578 times with 245,315 applications • China National Building Material Company Limited - oversubscribed by 536 times with 219,736 applications • Tianjin Port Development Holdings Limited - over subscribed by 1,703 times with 379,945 applications.

In the last two months of the year, with over 15

IPOs for listing on HKSE, market frenzy rose to Tricor IS team in action during an IPO project

3 TRICORIAN Dec 2006 Corporate Services company secretaries and our clients require assistance and support in enhancing governance Our Corporate Services (CS) business continues standards within their organizations. Our to expand, especially with the further opening CS directors and professionals also conduct up of the fi nancial services sector in Mainland Induction Programmes for directors and senior China as part of the agreement relating to management of listed issuers to meet HKSE China’s entry into the World Trade requirements. Organization. Increasingly our directors have been appointed With rebounding economies in the Asia Pacifi c as company secretary / joint company secretary Region, the increasing emphasis on effective of listed issuers. The latest appointments were: corporate governance in the statutory and regulatory regime, and the unprecedented • Natalia Seng as joint company secretary of number of listings of H-share companies on China Merchants Bank Co., Ltd. together HKSE, demand for professional corporate with the bank’s in-house secretary services continues to rise. • Susan Lo and Caron Lee as joint company secretaries of SPG Land (Holdings) Limited All these developments have further • Patsy Cheng as company secretary of highlighted the important role of the chartered HannStar Board International Holdings secretary in corporate management. Limited • Cynthia Wong as company secretary of China Our CS division provides company secretarial Paradise Electronics Retail Limited support services to almost a hundred listed issuers. The market is short of experienced

Left to right: Meet some of Tricor’s CS directors: Natalia Seng, Paul Moyes, Betty Yeung, Diana Chung, Susan Lo, Patsy Cheng, Cynthia Wong and Veronica Lin

4 TRICORIAN Dec 2006 Acquisitions and Further Growth

Tricor continues to expand rapidly through founders were formerly directors in secretarial acquisitions and further growth. and business services with the Malaysian Coopers & Lybrand organization (C&L), and part of TCC’s Acquisition of Mainland China share registration practice was acquired from C&L, Business Services currently known as PricewaterhouseCoopers (PwC).

Our new practice is now named Tricor Services In October 2005, Tricor successfully acquired the (Malaysia) Sdn Bhd. Yeap Kok Leong, formerly business services practice of Ernst & Young (EY) Managing Director of TCC, joined the Tricor Malaysia in Mainland China. A group of 10 staff from EY practice as Chief Executive and Managing Director. have joined our Beijing and Shanghai offi ces. Chuah Poo Sian, formerly Executive Director, joined The acquisition has brought in a new portfolio as Tricor’s Executive Director. of clients and assignments, strengthening the positioning of Tricor Consultancy (Beijing) Acquisition of the Malaysia businesses has brought Limited as one of the market leaders in the over 60 staff and two additional cities of operation provision of accounting, payment processing to the Tricor family. and payroll outsourcing services in the Mainland. The acquired business units continue to operate at their existing premises at Plaza Permata in Kuala Our China Services Director, John Poon, together Lumpur and the Persiaran Midlands in Penang. with managers Susan Peng and Judy Zhou based in Beijing, and Grace Guo, Cynthia Chen and Melissa Yang based in Shanghai, and their respective work teams, are keen to further grow our business in the Mainland.

Acquisition of Malaysia Businesses

In January 2006, Tricor completed the acquisition of the client accounting, payroll outsourcing, company secretarial and share registration businesses of the Total Corporate Compliance (Holdings) Sdn Bhd Group (TCC Group), a professional outsourcing Left to right: Tricor welcomes Malaysia to the family, Julian Chow (Hong Kong), Mike Gray (Singapore), Chuah Poo Sian (Malaysia), Johnny Ng (Hong services provider in Malaysia. TCC’s principal Kong), Yeap Kok Leung (Malaysia) and Ho Lon Gee (Singapore)

5 TRICORIAN Dec 2006 Tricor Thailand New Offi ce: Honoured guests included valued clients and Offi cial Opening business partners. Welcoming our honoured guests were Johnny Ng, Group Chief Executive; members of Tricor Thailand’s management The offi cial opening for the new offi ce of Tricor team, Munthana Thamlikitkul, Chief Executive Outsourcing (Thailand) Limited and Tricor and Managing Director, and Smarn Ithijarukul Executive Recruitment (Thailand) Limited was and Somjin Pholpornprasert, Executive held in September 2006. Directors; as well as over 70 staff. Chairman of the Tricor Group, also Chairman After the ribbon cutting ceremony, Dr Li gave and Chief Executive of The Bank of East Asia the welcoming speech and expressed our best Group, Dr David Li, offi ciated at the Buddhist wishes for continuing success of the Thailand opening ceremony. The ceremony commenced team. The offi cial opening concluded with the with the offering of a meal to Buddhist monks, anointment ceremony and the sprinkling of holy followed by donation of offerings by assembled water by the Chief Abbot. guests and a ribbon cutting ceremony performed by Dr Li. Tricor Thailand is now located at Bangkok City

Tower Building.

Left to right: Ribbon cutting ceremony by Group Chief Executive Johnny Ng, The Buddhist opening ceremony Thailand Chief Executive Munthana Thamlikitkul and Group Chairman Dr David Li

Tricor Beijing Relocation

To meet with increasing demand for professional business and corporate services in Mainland China, our Beijing offi ce will move from its present location in China World Trade Centre to Fortune Plaza as from 2 January, 2007.

You can fi nd our new Beijing offi ce at: Room 3805-3806, Fortune Plaza Offi ce, Tower A, No. 7 Dongsanhuan Zhong Rd, Chaoyang District, Beijing 100020. Tel: (86) 10 6533 0628 The Tricor Beijing offi ce will be relocated as from 2 January, 2007 Fax: (86) 10 6533 0618

6 TRICORIAN Dec 2006 Advancing Professional Frontiers

seminars and training events. Over the year Susan acted as guest speaker on a number of Professional Appointments topics that are relevant to the chartered secretary profession. These topics were: As Tricor moves ahead, so do staff in their connected transactions with practical case respective involvement in and contribution to studies; continuing obligation - in respect of their professional associations. Our disclosure; share buy-back; Companies congratulations go to Natalia Seng, Executive (Amendment) Ordinance; corporate governance: Director & Head of Corporate Services and China listed issuers and investors relations. Consultancy Services, who has been elected President of The Hong Kong Institute of The last topic on corporate governance was Chartered Secretaries (HKICS); and Allan Tong, covered in a training event conducted by Susan Executive Director & Head of Investor Services, Lo with Y T Soon, Director of Corporate Services. who has been elected as Chairman of the This was part of a series of seminars for board Federation of Share Registrars Limited (the secretaries and senior management of eight Federation). H-share companies, jointly organized by the Hong Kong Exchanges & Clearing Limited (HKEx) Natalia (with Paul Moyes, Director of Corporate and HKICS. Services, as alternate) has been nominated by HKICS and appointed by the Financial Services Susan also delivered two sessions of Tricor and the Treasury Bureau (FSTB) of the Hong Corporate Briefi ngs (TCB) to directors and senior Kong SAR government as member to an management of our listed clients during the year. Advisory Group in connection with the rewrite Tricor offers customized TCB programmes to our of the Companies Ordinance. The Group will listed clients in compliance with corporate report on matters relating to company forma- governance requirements under the HKSE tion, registration, re-registration, restructuring, Listing Rules. and company meeting and administration provisions.

Another of our Corporate Services Director, Diana Chung, has been re-elected as Council member of HKICS.

Professional Development

Susan Lo, Director of Corporate Services & Head of Professional Development and Training, is a Susan Lo (right) and Y T Soon (left) accepting a token of appreciation from regular speaker at external as well as internal Ms Ma Jinru

7 TRICORIAN Dec 2006 Natalia Seng, President, The Hong Kong Institute of Chartered Secretaries

team. The team grew to 80 with rapid expansion of business. The EY company secretarial (CS) practice was one of the most diversifi ed when it was sold by EY to Tricor in early 2002, with Natalia as one of the directors. Following the integration of the CS practices acquired from EY, Deloitte Touche Tohmatsu (DTT) and PwC under Tricor, the CS division now has a total of over 200 staff. Tricor is the largest employer of chartered secretaries in Hong Kong.

Natalia has developed a passion for the Natalia Seng, chartered secretary with over 25 chartered secretary profession since her years’ experience, has been elected President of induction. She enjoys all the diversity of The Hong Kong Institute of Chartered professional practice, is committed to practice Secretaries (HKICS). development, and is a frequent speaker at colleges and universities sharing her HKICS, formerly a branch of the Institute of professional experience with students. Chartered Secretaries and Administrators (ICSA) of London, has gained local status since 1994. A leader at work, and a busy wife and It is an independent professional body with caring mother, Natalia still fi nds time recently to about 4,900 members and 2,600 students. It complete an Executive MBA in two years’ time aims to promote its members’ role in effect- and to lead an enjoyable and balanced lifestyle. ing good corporate governance in Hong Kong She says that she is a strong believer in lifelong and throughout China as well as to develop the learning, not least from her experience as wife profession of the chartered secretary. and working mother. Her capacity to take in new ideas at all levels comes from tending her As incoming President, Natalia says she will son as he grows from teenager to university continue to undergraduate. She has this advice for young executives: • promote high standards of practice; • raise the profi le of the profession among “To lead an enjoyable and balanced life in a employers and highlight the benefi ts of professional fi rm, one has to resolve the issue employing chartered secretaries; of time constraint. Teamwork is the key. Proper • maintain good relations with regulators, the time management, effective communication government and academia; skills and building up my own core work team • take a proactive role in supporting the have enabled me to meet heavy workloads and government in anti-money laundering still enjoy quality time with my family and initiatives thus strengthening Hong Kong’s pursue personal interests. position as a global fi nancial centre; and • push ahead with the development of the Treasure your team members – they are your profession in Mainland China. most important asset at work; they will share your workload and facilitate you to take up new Natalia joined the company secretarial challenges. department of Turquands Ernst & Whinney (TEW), now Ernst & Young (EY), in 1979 as a Do your best when opportunity comes your way, fresh graduate to immerse herself in all the and you will have no regrets. The process is the basics that could be learned from a professional most important, for learning, not for immediate fi rm. At the time, there were 8 members in the results or short term rewards.”

8 TRICORIANTRICORIAN DDecec 20062006 Allan Tong, Chairman, Federation of Share Registrars Limited

participants well with professional and timely advice. The growing importance of the share registrar’s role is a strong driving force towards professionalization, for instance, in dealing with major IPO assignments and corporate actions, acting as scrutineers at important shareholder meetings or court meetings of public companies, and handling shareholder relations. An important component of this is the application of advanced information technology to better serve issuers and investors.

As the Hong Kong stock market continues to Our Federation’s major target is to minimize the surge forward on bullish runs, taking Tricor’s fl ow of papers, and to reduce processing time Investor Services team with it in a torrent of and risks in handling share transfers, activity, Allan Tong’s election as Chairman of the subscriptions, refunds, etc. With improved Federation of Share Registrars Limited (the electronic linkage with HKSE and local banks in Federation) is timely as his constant exposure the near future, electronic payments or refunds and rich experience will be of service to the will be feasible. In fact, most of our members increasing professionalization of the share are aiming to build up enhanced IT registrar industry, and indirectly to Tricor. infrastructures and systems for the introduction of e-communication, e-voting and e- submission The Federation was established in Hong Kong for the industry. under the Securities and Futures (Stock Market Listing) Rules of the Securities and Futures The Federation is working proactively with the Commission (SFC). The membership comprises SFC, HKSE and the Hong Kong Association of all the approved share registrars, registered in Banks to consider ways to improve overall Hong Kong under the HKSE Listing Rules. The market effi ciency, especially for IPOs, as well as aim of the Federation is to enhance the to improve investor education, communication professional standards, and promote the and relationship. “ interests and development of the share registrar industry. Allan has excellent strategies to balance his more than busy work life. As many of us know, Allan will be bringing with him over 20 years of Allan is an ardent traveller, enjoying a DINK experience in the share registration business, life style with his wife for years (DINK meaning formerly with Ernst & Young, then with Tricor, ‘double income, no kids’). which serves more than 660 listed issuers on HKSE; as well as over 10 years’ experience with Every year, most of their holidays are spent the Federation. He is honoured to be elected outside Hong Kong. Apart from unclassifi ed and has plans for the Federation during his tourist spots, Allan says the only few places they term: have not visited are India, South America and East Africa. They will defi nitely cover the “I am well aware that holding such an remaining territories in their forthcoming important offi ce does not come without a vision golden years. and responsibilities. I would like to map out my vision for the Federation and hopefully with Allan is a keen golfer and represented Tricor in members’ support, we will be able to realize this the Sir David Cup match organized by The Bank in stages, ironing out diffi culties along the way. of East Asia in November at Xili Golf and Country Club. He was 1st runner-up of the Best My vision is to enhance the professionalism of Net Score in this year’s competition; last year he our industry and to serve issuers and market was the champion.

9 TRICORIANTRICORIAN DecDec 2006 Tricor Seminar

Tricor Seminar 2006 Corporate Governance and Listing Rules Updates

The Annual Tricor Seminar, on “Corporate Distinguished guest speakers included Professor Governance and Listing Rules Updates”, was C K Low, Associate Professor in Corporate held in November at Conrad Hotel, Hong Kong. Law at CUHK, Mr Herald L F Lau, former Partner of PricewaterhouseCoopers, Mr K C Kwan, This year, we were honoured by the presence of President of Morrison & Company Limited, our Chairman, Dr David Li, who offi ciated at the Mr T Brian Stevenson, former Senior Partner opening and delivered the welcoming address. of Ernst & Young, and Ms Carol Luu, Partner of Enterprise Risk Services, Deloitte Touche Tohmatsu.

Dr David Li delivering the welcoming address at Left to right: Natalia Seng, Mr K C Kwan, Mr Herald Lau, Dr David Li, Professor C K Low, Johnny Ng and the Tricor Seminar Julian Chow

10 TRICORIAN Dec 2006 Johnny Ng (left) presenting our token of thanks to Carol Luu (right) Left to right: Mr K C Kwan, Mr T Brian Stevenson, Natalia Seng, Mr Herald Lau, Professor C K Low and Julian Chow

Professor Low started off the seminar with current disclosure of interests regime under Part a presentation on the role of independent XV of the Securities and Futures Ordinance of non-executive directors (INEDs) in public listed Hong Kong and discussed the practical aspects companies, providing an academic perspective. of the requirements for issuers. He was then joined by Mr Herald Lau, Mr K C Kwan and Mr T Brian Stevenson in a stimulating Our Chief Executive, Johnny Ng, closed the panel discussion on the challenges INEDs face in Seminar. Johnny thanked all speakers for their addressing effective corporate governance. Our contributions and reiterated the importance of Natalia Seng ably moderated the discussion. integrity, accountability and transparency in the Ms Carol Luu rounded off the seminar with management of corporations. a discussion of internal control and risk management in listed companies. Participation of clients and business partners in the seminar reached a new high this year, with In between these sessions, Tricor experts over 700 attendees and positive feedback. discussed implications of recent changes in the statutory and regulatory regime for listed companies. Susan Lo discussed the impact of HKSE’s newly introduced publication rules and made suggestions for issuers to meet the requirements. Betty Yeung, Executive Director & Head of Corporate Services, introduced the

Left to right: Our panellists Professor C K Low, Mr Herald Lau, Natalia Seng, Mr T Brian Stevenson and Mr K C Kwan Left to right: Paul Moyes, Ho Lon Gee (Singapore), Clair Burke (BVI), Betty Yeung, Susan Lo, Natalia Seng, Ms Carol Luu, Johnny Ng, Allan Tong and Julian Chow

11 TRICORIAN Dec 2006 Business Development

Launching the Tricor Head Offi ce: Cocktail Reception

Tricor celebrated the offi cial opening of our head offi ce at Three Pacifi c Place with a cocktail reception in May 2006. Representatives from our shareholders and our legacy fi rms were invited to this memorable event. Group Chairman Dr David Li with chairmen of our three legacy fi rms, (left to right) Mr Kenneth McKelvie of DTT, Dr David Sun of EY and Mr Silas Our Chairman Dr David Li, together with Johnny Yang of PwC Ng, Julian Chow and executives hosted the reception. We were honoured by the presence of directors and senior executives from our shareholders, and top management from our legacy fi rms. We welcomed Mr. Eric Li, Mr Joseph Pang, Mr K C Chan, Mr Daniel Wan, Mr Samson Li, Mr Adrian Li and Mr Brian Li from The Bank of East Asia Group; and Mr Patrick Lam and Mr William Doo, Junior from NWS Holdings Ltd. Distinguished guests from our legacy fi rms included Mr Kenneth

McKelvie, Chairman of Deloitte Touche Left to right: Dr David Sun, Mr Chan Kay Cheung, Mr Silas Yang, Mr Tohmatsu (DTT) Hong Kong & China, Dr David Joseph Pang, Julian Chow, Johnny Ng, Mr Kenneth McKelvie and Dr David Li Sun, Chairman of Ernst & Young (EY) Hong Kong & China, and Mr. Silas Yang, Chairman of PricewaterhouseCoopers (PwC) Hong Kong & China, who took time out of their very heavy schedules to join us on this occasion. Dr Li presented mementos to our three distinguished guests from the legacy fi rms.

Left to right: Allan Tong, Mr Eric Li and Julian Left to right: Dr David Li, Mr Alan Collins and Mr Left to right: Allan Tong, Marina Wong, Johnny Chow Bon Ho Ng, Mr Silas Yang and Eddie Fong

12 TRICORIAN Dec 2006 Seminar on Practical Approaches HKICS Seminar for in Going Public HKUST Students

In January 2006, our Natalia Seng took part in Again in April, HKICS organized a seminar to a seminar organized by the Federation of Hong introduce the chartered secretary profession to Kong Industries (FHKI) on preparations and students of The Hong Kong University of Science workfl ow for companies going public. Natalia & Technology (HKUST). gave a presentation on the key features of an effective corporate governance structure and Tricor was represented by Eva Ngai, Senior current practices among Hong Kong listed Manager of Corporate Services. Eva, as one companies. of the guest speakers, introduced the role of the company secretary in enhancing corporate governance.

Over 200 undergraduates attended the successful seminar, paving the way for HKICS to admit student members from HKUST.

Natalia Seng (left) accepting a token of appreciation from Mr Robin Chiu

Uncovering Business Potential in Singapore

Eva Ngai (right) greeted by Mr Davy Lee (left) and Mr Patrick Harvey In April, Mike Gray, Senior Adviser, and Alan (centre) Lim, Senior Manager of Tricor Singapore were invited by International Enterprise Singapore (IES) to participate in its annual event: Executive Training Programme for “Uncovering Your Business Potential in Mainland CEOs Singapore”. This is part of the continuing IES effort to position Singapore as a trading hub In May and July, Cynthia Wong, Director of for foreign businesses to expand their presence Corporate Services, was one of the speakers at in the Region. Alan introduced the pro-business the “Executive Training Programme for environment in Singapore, issues related to the Mainland CEOs” and the “Executive Training setting up of business entities, and compliance Programme for Shanghai CEOs”, 4-day and tax issues. Over 50 chief representatives of programmes jointly organized by the Hong foreign businesses with representative offi ces in Kong Trade Development Council and the Singapore attended the event. Guangdong Foreign Trade and Economic Cooperation Department / the Shanghai Federation of Industry and Commerce respectively.

13 TRICORIAN Dec 2006 The main objective of the programmes was More on Doing Business to encourage mainland enterprises to set up in Singapore business in Hong Kong and to explore overseas markets, leveraging on Hong Kong’s trade In October, Tricor Singapore was again invited services experience. Participants included by IES to give a talk on “Doing Business in about 40 CEOs and/or senior executives from Singapore” at a seminar for delegates from the renowned enterprises from the Guangdong/ Brazilian Medical Devices Manufacturers Shanghai provinces. Association. The Association is a Brazilian nonprofi t organization whose members are companies in the medical devices industry. IES organized the seminar to attract medical devices manufacturers and suppliers to set up their trading base in Singapore and/or to forge ties with suppliers and customers in the Region.

Doris Seow, Associate Director and Alan Lim, Senior Manager of Tricor Singapore attended the seminar. Alan discussed the various aspects of doing business in Singapore, including Singapore trade statistics, tax framework, issues Cynthia Wong (right) accepting a token of appreciation related to the setting up of business entities, corporate compliance and immigration relocation. Business Entrepreneur Enhancement Programme (BEEP)

In June, Tricor was invited to give a Supporting Research & presentation at a workshop of the Business Development Entrepreneur Enhancement Programme (BEEP), jointly organized by The University of Hong In 2006 Tricor continued our support of Kong (HKU), Hong Kong Economic Times and corporate governance in Hong Kong. We were a The Entrepreneur Network (TEN). BEEP aims at sponsor of the Corporate Governance Research promoting business sense and creative Fund at The Chinese University of Hong Kong entrepreneurship among students from HKU (CUHK). We were also the platinum sponsor of and selected secondary schools. Participants of the HKICS Corporate Governance Conference the workshop came from 29 student teams. held in October 2006. At this conference, our Managing Director, Julian Chow, delivered the Eva Ngai, Senior Manager, and Ivy Chow, luncheon speech on the rapid expansion of Manager, both of Corporate Services, together Tricor as the leading corporate services provider with Winky Leung, Manager of Business in the Asia Pacifi c Region, refl ecting the increas- Services, jointly delivered a presentation on ingly important role of the chartered secretary “Start up your Business: Legal and Accounting in corporate governance. Our Natalia Seng also Requirements”. participated as panellist in the panel discussion on “An International View on the Role of the There was some editorial coverage of the Company Secretary in Corporate Governance”. programme in the Hong Kong Economic Times.

14 TRICORIAN Dec 2006 Staff Development

Tricor believes in providing optimal learning opportunities for staff both through mentoring and focused activities. In 2006, we offered 34 professional training courses, a 13-session course on Presentation Skills, and many customized Putonghua practice sessions for staff.

The following highlights some of our staff development activities in 2006.

Regional Executive Seminar

In February, executives from all regional Tricor offi ces gathered at the Shatin Jockey Club in Hong Kong to enjoy our second Regional Executive Seminar

Meet our executives from all Tricor offi ces

15 TRICORIAN Dec 2006 Showing off hidden talents in modern dance Enjoying a fun session of African drumming

The day began with briefi ng on Tricor’s regional expansion from senior management and reports from the CEOs of all Tricor offi ces. Our executives then settled down for the highlight of the day.

Our Professional Development & Training team had organized a well-balanced and exciting programme for this year’s seminar. The theme was “Career in a Healthy Lifestyle”. Health industry professionals delivered presentations on how to maintain work- Regina Yu demonstrating her passion for African life balance through physical exercise and mental relaxation; and drum fi tness & sports experts gave executives a taste of different activities in session. Everyone had a chance to sample two sports or leisure activities, including pilates, fi t ball, African drum, modern dance, Taekwondo and kick boxing. Our executives had a great day sharing experience and fun.

The choice of theme for this seminar refl ects management commitment not only to professional development, but also to a balanced lifestyle for staff. The pilates experience

The Tricor spirit in action Fit ball was defi nitely fun but not as easy as it looked

16 TRICORIAN Dec 2006 CS Away Day

Following the success of last year’s Corporate Services (CS) Away Day, we organized another CS Away Day in June, with the theme “A Dynamic Party”, for professional staff below executive level in Hong Kong.

This year we wished to promote stronger team spirit and more effective resources allocation, through simulation of task assignment to groups of staff, requiring the tasks to be completed The purple team demonstrating their creativity on CS Away Day within limited time, materials and resources. All our participating staff demonstrated enthusiasm and creativity in completing the tasks. The senior management was most impressed by the team spirit demonstrated by our junior colleagues.

The blue team showing off their team spirit

IS Away Day

The fi rst Investor Services (IS) Away Day was held in October, with the theme “Go forward, go professional”, for professional staff below executive level. The purpose of the event was to promote commitment and team spirit among IS colleagues.

Allan Tong and his IS team Participants were asked to comment on a scene in an annual general meeting (AGM) of a listed issuer, to spot irregularities – that is, occurrences contrary to the statutory and regulatory requirements. This was role-played by Executive Director Allan Tong and his team of executives. The training received by our junior colleagues was refl ected in their ability to pick up most of the anomalies in the role play.

17 TRICORIAN Dec 2006 Participants then split into 4 groups. The major task for each group was to design and produce a video, then gave a presentation with the video to promote IS services in Mainland China. Both the video and the presentation were conducted in Putonghua. The language and communication skills of most of the participants were impressive.

Everyone enjoyed the day’s programme and demonstrated strong creativity and unity in the The creative and energetic IS team enjoying a day out competitions.

Examination Successes

Staff continued with their professional examinations in the year. Our congratulations go to those of our staff that have become certifi ed public accountants and chartered secretaries, and completed all professional examinations or second degrees in the year. CS professionals who completed master’s degrees in corporate governance at three Hong Kong universities are eligible for full exemption from the HKICS professional examinations, as the three programmes are endorsed by HKICS.

In September, for the fi rst time, Tricor organized an “Awards Presentation Lunch” for all our newly qualifi ed chartered secretaries, at our own dining room The Seasons.

The senior management presented awards to Alison Lai, subject prizewinner of “Strategic and Operations Management”, and Sharon Lai, subject prizewinner of “Corporate Administration” in the June 2006 HKICS examinations; and shared their experience and insights on becoming qualifi ed professionals.

Julian Chow presenting an award to Sharon Lai (CS), subject prizewinner of “Corporate Administration”

Awards Presentation Lunch at our own dining room The Seasons

Julian Chow presenting an award to Alison Lai (CS), 18 TRICORIAN Dec 2006 subject prizewinner of “Strategic and Operations Management” Staff Events

War Game Battle

Hiking Fun Days

19 TRICORIAN Dec 2006 Two-day trip to Zhongzhan, Zhuhai and Macau

Boat Trip

20 TRICORIAN Dec 2006 Bowling Tournament

Tricor Badminton Tournament

21 TRICORIAN Dec 2006 Arts in the Plaza

China Offi ces Annual Dinner

22 TRICORIAN Dec 2006 UNICEF 15 km Run

Staff Celebrations and Congratulations

Top Row (left to right): Joanna Yu (Tricor Shanghai) with husband Kaka Liu; Ella Wong (Tricor Hong Kong) with husband Andrew Leung

Second Row Left: Fiona Pang’s (Tricor Hong Kong) baby girl Nadia Dhillon

Second Row Right: Sung Yee Kee’s (Tricor Hong Kong) baby girl Leung Sze Yuen

Third Row Left: Grace Chan’s (Tricor Hong Kong) boys, Nathan Pan (left) and Ivan Pan (right)

23 TRICORIAN Dec 2006 Tricor in the Community

The Royal Society of St. George vs St. Andrew’s Society – Annual Rugby Match 2006 Fixture

Tricor continued our support of the annual rugby match between the Royal Society of St. George and St. Andrew’s Society held in March at the Hong Kong Football Club. This turned out to be a closely fought affair. This year, the English team had their second victory in a row in this annual fi xture. Paul Moyes (left) presenting the trophy to the winning English team

Treasure Hunt Corporate Challenge

In April, a team of Tricor staff joined the fund raising programme organized by The Community Chest - Treasure Hunt Corporate Challenge. This took place at the new Fishermen’s Pier in Macau. The Tricor team competed with teams from other companies and received ongoing cheering from a group of Miss Hong Kong contestants.

Tricor colleagues contributing to the Community Chest Miss Hong Kong cheering for Tricor

24 TRICORIAN Dec 2006 Lifeline Express Charity Concert Tricor BVI in Financial Services Yacht Regatta Lifeline Express is a charity organization supported by China’s Ministry of Health, In June, Tricor BVI participated in the Financial Ministry of Railways and the Hong Kong and Services Yacht Regatta (races) for the second Macau Affairs Offi ce. The goal is to set up a year with our Managing Director Patrick purpose-built eye-hospital train that travels to Nicholas as the skipper. The BVI International the poor and rural areas of Mainland China to Finance Centre (IFC) sponsored this event. provide service to cataract patients. Eleven fi rms from the fi nancial services sector In May, Lifeline Express offered a charity concert took part, with staff and family members from at the Hong Kong Convention & Exhibition the fi rms teaming up. Team Tricor included Clair Centre. Following from last year’s success, our Burke, Senior Manager of Tricor BVI and Wayne Betty Yeung performed again at this year’s Francis, Financial Controller, who was racing for concert and raised funds for Lifeline Express. the fi rst time. The race took place over two days Betty took to the stage and performed the off Nanny Cay on Tortola. The Regatta was very classic song ‘Evergreen’. exciting with most of the races won or lost by only a mere boat length. Humphry Leue, IFC chief operating offi cer, presented trophies to the winners.

History was made at the Royal BVI Yacht Club in February when the membership unanimously elected our Clair Burke as their very fi rst female commodore. Congratulations, Clair!

Tricor colleagues supporting Betty Yeung (4th from left) at the charity concert

HKUST Confl uence Dinner

In May, our Cynthia Wong was one of the guests at the Confl uence Dinner organized by the Student Affairs Offi ce of HKUST. The intention Clair Burke (centre), the very fi rst female commodore of of the dinner was to provide opportunities the Royal BVI Yacht Club for undergraduate students to learn from experienced professionals and leaders from commerce and industry. At this dinner, Cynthia Most Enthusiastic Award, Blood shared her life experience and viewpoints on Donation Campaign the world of work, employment opportunities, career choice, and professional and personal Swire Properties, our landlord at Three Pacifi c development with a small group of students Place, organized a Blood Donation Campaign over a round table discussion. in August, inviting the staff of all tenants to participate. Tricorians came out in numbers to respond to the call. Tricor won the ‘Most Enthusiastic Donor Award’.

25 TRICORIAN Dec 2006 BANGKOK

Tricor Outsourcing (Thailand) Limited Tricor Executive Recruitment Limited Tel: (66) 2 343 1200 Member of BEA Group Fax: (66) 2 286 4130

Tricor, a member of the Bank of East Asia Group, is a leading BEIJING professional provider of integrated business, corporate and investor TRICOR Consultancy (Beijing) Limited services in Hong Kong, Greater China and South East Asia. Our services Tel: (86) 10 6533 0628 Fax: (86) 10 6533 0618 include Accounting, Company Formation, Corporate Governance & Company Secretarial, Executive Search & Selection, Initial Public Offerings & Share Registration, Payroll, Fund and Trust Administration. HONG KONG

Tricor Services Limited Tricor has built its reputation and professional expertise through the Tel: (852) 2980 1888 acquisition of the corporate service businesses of three of the “Big 4” Fax: (852) 2861 0285 international accounting fi rms: Deloitte Touche Tohmatsu in Hong Kong, Ernst & Young in Hong Kong and the BVI, and KUALA LUMPUR PricewaterhouseCoopers in Hong Kong, Singapore and Bangkok. Tricor Services (Malaysia) Sdn. Bhd. Tel: (60) 3 4043 9411 Our mission is to be The Business Enabler of choice. Fax: (60) 3 4043 1233

MACAU TRICOR SERVICES LIMITED Tricor Services (Macau) Limited Tel: (853) 788 022 CHIEF EXECUTIVE & Fax: (853 ) 788 021 MANAGING DIRECTOR MANAGING DIRECTOR

Johnny Ng Julian Chow PENANG Tel: (852) 2980 1100 Tel: (852) 2980 1238 [email protected] [email protected] Tricor Services (Malaysia) Sdn. Bhd. Tel: (60) 4 229 6318 Fax: (60) 4 226 8318 EXECUTIVE DIRECTORS, PRACTICE LEADERS BUSINESS SERVICES

SHANGHAI Shirley Tsang H C Ying Tel: (852) 2980 1298 Tel: (852) 2980 1988 [email protected] [email protected] TRICOR Consultancy (Beijing) Limited - Shanghai Branch Tel: (86) 21 6391 6893 EXECUTIVE DIRECTORS, PRACTICE LEADERS Fax: (86) 21 6391 6896 CORPORATE SERVICES

Natalia Seng Betty Yeung SHENZHEN Tel: (852) 2980 1688 Tel: (852) 2980 1882 [email protected] [email protected] TRICOR Consultancy (Beijing) Limited - Shenzhen Branch Tel: (86) 755 8246 0282 EXECUTIVE DIRECTOR, PRACTICE LEADER Fax: (86) 755 8246 0332 INVESTOR SERVICES

Allan Tong SINGAPORE Tel: (852) 2980 1818 [email protected] Tricor Singapore Pte Limited Tel: (65) 6236 3333 EXECUTIVE DIRECTORS, PRACTICE LEADERS Fax: (65) 6236 4399 CHINA SERVICES

Natalia Seng Shirley Tsang TORTOLA (BVI) Tel: (852) 2980 1688 Tel: (852) 2980 1298 [email protected] [email protected] Tricor Services (BVI) Limited Tel: (1 284) 494 6004 Fax: (1 284) 494 6404 PRACTICE LEADER - EXECUTIVE RESOURCES

Fiona Yung Tel: (852) 2980 1166 Please visit our website at www.tricor.com.hk Copyright © 2006 Tricor Services Limited. All rights reserved. fi [email protected] Email: [email protected]