Category: Legal

Innovation at the forefront of Hong Kong’s 13th Business of IP Asia Forum and 15th Entrepreneur Day

  • Unlocking opportunities in the Greater Bay Area and beyond

The Hong Kong Trade Development Council (HKTDC) and Hong Kong Special Administrative Region (HKSAR) Government are jointly organising the 13th Business of IP Asia Forum (BIP Asia Forum). The 15th Entrepreneur Day (E-Day) will also be hosted by the HKTDC. These two events will be held concurrently from 7 to 8 December at the Hong Kong Convention and Exhibition Centre.

The Hong Kong Special Administrative Region Government (HKSAR Government) and Hong Kong Trade Development Council (HKTDC), will hold the 13th Business of IP Asia Forum (BIP Asia Forum) from 7 December to 8 December.

The mix of forums, exhibitions, competitions, workshops and business matching at these events provide start-ups and small and medium-sized enterprises (SME) infinite opportunities to network, engage in dialogue and find ways to collaborate for success.

By utilising HKTDC’s exhibition and business matching services to find potential business partners or investors, the events promote IP commercialisation, facilitate industry-academia collaboration and showcase the advances in scientific research in Hong Kong.

HKTDC Deputy Executive Director Patrick Lau said, “The BIP Asia Forum and Entrepreneur Day are held concurrently to provide a holistic presentation of the journey from ideation and IP commercialisation to starting your business and scaling up. The two events have resumed as fully physical events this year, bringing together over 90 industry leaders and more than 350 exhibitors from IP, innovation and technology (I&T), start-ups and sustainability. The events promote cross-industry and cross-sector exchanges, driving business opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).  

He added: “By facilitating interactions and exchanges between local companies, global industry leaders and internationally renowned speakers, we aim to equip event participants with a deeper understanding in diverse areas, ranging from the latest in start-up trends and sustainable development to new IP applications and opportunities.”

Business of IP Asia Forum: Steering New Economic GrowthThemed “IP & Innovation: Steering New Economic Growth”, the Forum brings together IP industry players and business leaders from around the world to discuss the latest IP developments and explore collaboration opportunities.

Dr Peter K N Lam, Chairman of the HKTDC; Michael Wong, Deputy Financial Secretary, HKSAR; Dr Lu Pengqi, Deputy Commissioner, China National Intellectual Property Organization; and Daren Tang, Director General, World Intellectual Property Organization (WIPO), will deliver remarks at the opening session.

Algernon Yau, HKSAR Secretary for Commerce and Economic Development, opens the Forum’s first session, the Policy Dialogue, with a welcome address. International IP policymakers discuss the importance of IP and innovation in stimulating worldwide economic growth in a conversation with Winnie Tam, Senior Counsel of Des Voeux Chambers. The speakers include Mr Tang; Rowel S. Barba, Chair of the Intellectual Property Rights Experts Group of Asia-Pacific Economic Cooperation (APEC); Santisouk Phounesavath, Chairman of the ASEAN Working Group on Intellectual Property Cooperation; and Dr. M. Zeki Durak, President of the Turkish Patent and Trademark Office.

For the Plenary Session, Mayeul Dastugue, Legal Director of Global IP Enforcement of Christian Louboutin; Laurence Morel-Chevillet, IP and Brand Protection Director of Bulgari S.p.A; and Mayank Vaid, Intellectual Property Director of Asia Pacific & China (Civil) of Louis Vuitton, share their brand strategy successes in the new economic landscape and discuss how the use of technology can reinvent brands.

At the Global Tech Summit, global tech leaders, including Olivier Klein, Asia Pacific Chief Technologist of Amazon Web Services; Fred Sheu, National Technology Officer of Microsoft Hong Kong; and Dr Ginny Wong, Data Scientist of NVIDIA AI Technology Center Hong Kong,  deep dive into the latest trends of generative AI applications and their impact on IP.

The ASEAN Session, organised by the ASEAN Secretariat and the HKSAR Intellectual Property Department in collaboration with WIPO, features IP representatives from government and business in ASEAN and Hong Kong as well as experts, licensing agents and international brand owners, including MCM Group, S2O Factory, B.Duck Semk, who share their insights on ways to maximise the value of trademarks in today’s rapidly changing global business environment.

The two-day forum also features talks on a variety of topics, including IP collaboration and competition in the biomedical Industry in the GBA, and IP and dispute resolution in the age of AI, digital trade, IP protection and more. Additionally, there will be presentations by companies showcasing their latest innovations.

The IP & Innovation Market returns under the theme of Clean Tech, showcasing over 30 innovative projects from tertiary institutions, R&D centres and start-ups focused on recycling, sustainable energy, green materials, waste management and more to strengthen IP commercialisation and facilitate collaboration.

Entrepreneur Day: Latest Trends in Innovation and Technology With the theme Building Resilience, Boosting Collaboration, some 30 industry leaders from around the world share their insights on the latest developments and trends in the start-up ecosystem at E-Day.

With the theme Building Resilience, Boosting Collaboration, some 30 industry leaders from around the world share their insights on the latest developments and trends in the start-up ecosystem at E-Day.

Showcasing some 300 start-ups, projects and support services, the exhibition area offers an opportunity for networking and business matching. An Australian delegation, led by Investment NSW, participate in E-Day for the first time, showcasing nine start-ups in health tech, environmental protection tech and smart city.

The Asia Exhibition of Innovations and Inventions Hong Kong, co-organised by The Hong Kong Exporters’ Association and Palexpo in Geneva and featuring over 110 innovations from Asia at E-Day, showcases global breakthrough inventions and technological solutions.

This year’s E-Day sees an increased participation of incubators from the GBA. The HKSAR Home and Youth Affairs Bureau invited 50 local start-ups under the Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area to join the event. The scheme supports young entrepreneurs to establish their business in the GBA.

The seminars encompass four major series, including the Inspirational Masterclass Series, Emerging Trends for Tech and Innovation Series, Fuelling the Future Series and Market Exploration Series. On the first day, the conference will kick off with T-Chat featuring Serge Conesa, Founder and CEO of Swiss start-up Immersion4, which received the Most Innovative Use of ICT Award from the UN International Telecommunications Union (ITU) in 2019. At this seminar, he shares his entrepreneurial journey and explores the market potential of greentech in Europe and the Middle East.

At another session on the future of work on the second day, Daryl Lau, Sales Director of JobsDB Hong Kong; Leo Siu, Head of HRMS of Computer And Technologies Holdings Limited and Emrys Lam, Founder of HR Plus Limited, shed light on emerging trends reshaping the workplace and the ways in which these trends and new technologies influence talent acquisition and retention strategies.

On the same day, a seminar co-organised with GoGBA Business Support Centre in Futian features Zhang Yun, Minister of Vitality Promotion Department of the Futian District Investment Promotion and Enterprise Service Center in Shenzhen; and Chen Shan, President of the Guangdong-Hong Kong-Macao Greater Bay Area Innovation and Entrepreneurship Incubation Base in Guangdong. They highlight the latest policies and support services for start-ups, while Aldous Ng, CEO of CU Coding Limited, and Simon Cheung, Associate Director of BIM Limited, share their journey of establishing a presence in the GBA.

Last year, the HKTDC launched Start-up Express: International Edition to attract international start-ups to operate in Hong Kong and expand their business in the region. Following last year’s inaugural success, the event returns during E-Day with the support of 15 global partners from around the world, stretching from Mainland China to the wider Asia-Pacific region and Australia to Europe and the USA. On the first day of E-Day, this year’s seven out of 10 global winners join us in person.

As part of Start-up Express, the HKTDC provides comprehensive support to the top 30 start-ups through the Start in Hong Kong Programme. The support encompasses marketing, technical, business setup and peer support as well as mentorship to assist start-ups in accessing the markets of Hong Kong and the wider GBA. 

InnoClub, a one-stop platform jointly developed by the HKTDC and Hang Seng Bank, is organising the inaugural InnoClub Award Presentation Ceremony on the second day of E-Day to recognise the exceptional achievements of InnoClub members in I&T. The three winners then engage in conversation on their entrepreneurial journey, which is followed by a networking reception.

Exhibition and Forum WebsiteBusiness of IP Asia Forum website: https://bipasia.hktdc.com/en/Entrepreneur Day: https://www.hktdc.com/event/eday/enStart-up Express International:https://portal.hktdc.com/startupexpress/en/s/start-up-express-international

Media Registration

Media representatives can complete the following form by December 7(Thursday) and email to hktdc@hkstrategies.com for pre-registration to receive a confirmation email for browsing Exhibition and Forum Website.

Members of the media wishing to interview speakers should email interview requests and proposed questions to hktdc@hkstrategies.com by 28 November.

Download Photos: https://bit.ly/3SN3sjD

Media enquiriesPlease contact Hill & Knowlton:Grace Chiu, Tel: (852) 6432 3549, Email: grace.chiu@hillandknowlton.comRachel Zhu, Tel: (852) 6816 5846, Email: rachel.zhu@hillandknowlton.com

HKTDC Communications & Public Affairs Department:Jane Cheung, Tel: (852) 2584 4137, Email: jane.mh.cheung@hktdc.orgJanet Chan, Tel: (852) 2584 4369, Email: janet.ch.chan@hktdc.org

Media Room: http://mediaroom.hktdc.com/en

About HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Global Innovation & Value Summit (GIVS) 2023, Nov 17: ‘Moving Forward with ESG: Scoring for Value Creation’

IAFOR, The Value Research Center (VRC) at Doshisha University, ESG-IREC at Osaka School of International Public Policy (OSIPP) partner to define Value Measurement for ESG and Sustainability Reporting

In 2023, the European Union’s European Financial Reporting Advisory Group (EFRAG), the International Financial Reporting Standard’s (IFRS’s) International Sustainability Standards Board (ISSB) and the United States Securities and Exchange Commission (SEC) each published new guidance for how companies within their jurisdictions account for and report upon their Environmental, Social and Governance (ESG) Impacts. While Japan stands as the world’s 4th largest economy, many Japanese companies continue to lag in their ESG efforts, as Japan itself has not yet committed to requiring companies to report their impacts beyond the environmentally focused Task Force for Climate Disclosure (TCFD).

This year’s Global Innovation and Value Summit (GIVS) 2023 will first introduce the latest advances in value measurement, sustainability disclosure reporting and ESG from the perspective of EFRAG, ISSB and the US SEC Climate Disclosures, and their impacts on how businesses and governments can effectively operate within these increasingly important, but complex, sustainability standards and frameworks.

GIVS 2023 will then place these international advancements into the context of Japan’s historical embrace of a more socially conscious approach to business as well as the Japanese government’s recent efforts related to its New Capitalism Task Force. Finally, GIVS 2023 will offer ideas and insights on how businesses, not only within Japan and Asia but globally, can integrate, enhance and implement value-focused sustainability initiatives.

This event is designed to more deeply explore how all of these ideas can help guide the next evolutionary step beyond the SDGs that were raised by The Value Research Center and ESG-IREC at the United Nations General Assembly Science Summit (SSUNGA78) in September 2023.

It will bring together some of the world’s top experts in value measurement and scoring, sustainability and ESG issues to discuss, debate and brainstorm new approaches to value creation, responsible business and sustainability initiatives and offer ideas and models for their implementation in 2024 and beyond.

Agenda: IAFOR GIVS 2023
Date: Friday 17 November, 2023, 10:00-17:30
Venue: Saji Memorial Hall, Osaka University Nakanoshima Center, Osaka, Japan

10:00-10:45:  Opening Remarks
– Jun Arima, President, The International Academic Forum; Professor, Graduate School of Public Policy, University of Tokyo
– Toshiya Hoshino, Founding Director, ESG-Integration Research and Education Center, Osaka School of International Public Policy; Former President, The International Academic Forum
– Victoria Hurth (Video), Fellow, Cambridge Institute for Sustainable Leadership

Session 1
10:45-12:00:  EFRAG and ISSB Standards and Measurements: Different Strokes?
Charles (Mario) Abela, Strategic Advisor, Value Balancing Alliance; Director, Redefining Value, World Business Council for Sustainable Development

Discussants:
– Jun Arima, President, International Academic Forum; Professor, Graduate School of Public Policy, University of Tokyo
– Chizu Nakajima, Chair, The British Japanese Law Association, London; former Director, Centre for Financial Regulation, City, University of London; Guest Professor, ESG-IREC
– Philip Sugai, Director, Value Research Center, Doshisha University
– Jewellord Nem Singh, Global Fellow, The Wilson Center, Environmental Change and Security Program; Assistant Professor in International Development, International Institute of Social Studies.

Session 2
13:00-13:20:  Afternoon Session Keynote 1
Aligning Values and Purpose with Steward Leadership
– Flocy Joseph, Senior Deputy Director, Head of Commercial, Executive Development, Singapore Management University

13:20-14:00: Part 1 | A New “Third Way” : An Alternative Scoring Model and Business Philosophy from Kansai

Overview of the Value Model
– Philip Sugai, Director, Value Research Center, Doshisha University
The Philosophy of Seiryoku Zenyo, Jita Kyoei, Underlying Philosophy Guiding the Value Model
– Yoshie Sugai, Founder, Chiseikan Dojo, Kyoto, Japan
The Value Model Quality Assurance Process 2023
– Dhiyan Arini, Researcher, Value Research Center, Doshisha University
The Value Model as a Sustainability Reporting “Health Check”
– Max Wong, PhD Candidate, Multimedia University of Malaysia

14:00-14:20: Part 2 | The Value Model, ESG and AI
Value Model/Impact Weighted Accounts Team
– David Freiberg, EY Japan
– Diana Darbekova, Doshisha Business School, Kyoto Japan

14:20-14:45:  Coffee Break

14:45-15:30:  The Value Model, ESG and AI Team

14:45-15:05:  Applying the Value Model to AI/ESG-Scoring
– Katsuhiko Kokubu, Dean, Kobe Business School, Founder Kobe Value School
– Yuriko Nakao, Associate Professor, Graduate School of Informatics, Kansai University

15:05-15:25:  Value Model/Intellectual Capital Measurement Team
– Ludo Pyis, Founder and Chief Innovation Architect, AREOPA Group
– Roger Cabezas, Knowledge Manager @ CERCA (Centres de Recerca de Catalunya)

15:30-16:00:  Afternoon Session Keynote 2
Purpose and Value
– Victoria Hurth, Fellow, Cambridge Institute for Sustainable Leadership

16:15-17:15:  Roundtable Discussion
Going Forward: Inter-regional Cooperation Across Public Policy and Private Sectors
– Philip Sugai, Director, Value Research Center, Doshisha University
– Charles (Mario) Abela, Strategic Advisor, Value Balancing Alliance; Director, Redefining Value, World Business Council for Sustainable Development
– Victoria Hurth, Fellow, Cambridge Institute for Sustainable Leadership
– Flocy Joseph, Senior Deputy Director, Head of Commercial, Executive Development, Singapore Management University
– Jewellord Nem Singh, Global Fellow, The Wilson Center, Environmental Change & Security Program; Assistant Professor in International Development, International Institute of Social Studies

Moderator: Haruko Satoh
17:15-17:30:  Closing Remarks
Toshiya Hoshino, Founding Director, ESG-Integration Research and Education Center, Osaka School of International Public Policy; Former-President, The International Academic Forum

Notes
Simultaneous interpretation between English/Japanese will be available.
Funding provided by Doshisha University Graduate School of Business, Kifu Project, Doshisha University SDGs Grant, ESG-IREC and Osaka University.
To participate in this symposium (onsite or online), please register (for Free) in advance: https://iafor.org/givs2023/

About IAFOR
Founded in 2009, The International Academic Forum (IAFOR) is a politically independent non-partisan and non-profit interdisciplinary think tank, conference organiser and publisher dedicated to discussion, awareness and exchange through educational interaction and academic research. Based in Nagoya, Japan, its research centre is in the Osaka School of International Public Policy (OSIPP), Osaka University. Visit https://iafor.org/.

About VRC
The Value Research Center (VRC) at Doshisha University in Kyoto, Japan was established in November 2021. Its mission: to enable organizations to measure, monitor, assess and report on their impacts to 7 key stakeholders: the organization itself, its shareholders, employees, customers, partners, society, and the planet. Visit www.valueresearchcenter.com.

About ESG-IREC
Osaka School of International Public Policy – ESG-Integration Research and Education Center (ESG-IREC) at Osaka University conducts research on practical implementable “ESG integration” models in corporate and business activities for the creation of a more sustainable future. Visit www.osipp.osaka-u.ac.jp/en/.

Value Research Center (VRC) at SSUNGA78: ‘How Purpose, Value, and Impact will Drive a Sustainable Post-SDG Future’

  • VRC hosts Panel Discussion at the Science Summit at UNGA78 on Sept 25, 16:00 to 18:30 JST, to discuss UN SDGs and the Value Model

How can purpose, value, and impact measurement serve as a guide for building a post-SDGs model?

At this year’s UN General Assembly Science Summit (SSUNGA78), Prof. Philip Sugai, Director of the Value Research Center (VRC) at Doshisha University, Dr. Victoria Hurth from the Cambridge Institute of Sustainable Leadership (CISL), Dr. Mario Abela from the Value Balancing Alliance (VBA), and Prof. Haruko Satoh from Osaka University’s ESG Integration Research and Education Center (ESG-IREC) will hold individual presentations and a panel discussion about these questions as well as their answers.

The objective of this Science Summit is “to develop and launch science collaborations to demonstrate global science mechanisms and activities to support the attainment of the UN SDGs, Agenda 2030 and Local2030.” This event brings together scientists, academics, government leaders and citizens from around the world to participate in a series of workshops, presentations and discussions.

The 9th annual Science Summit is being held live in New York and online and it is free to attend. This presentation is one of four events hosted by the Okinawa Institute of Science and Technology (OIST) and co-host, the Permanent Mission of Japan to the United Nations.

“Beyond the wording on corporate websites, beyond the awards and sustainability scores, businesses have clear impacts on their stakeholders,” said Prof. Sugai. “The purpose of this workshop is to go beyond the talk surrounding sustainability issues to arrive at a useful, holistic model that is founded on purpose and offers a goal-based, objective, transparent approach for measuring and accounting for impacts and the value that they create. Not only for the world’s largest corporations in developed economies, but for businesses of all sizes anywhere in the world.” 

This workshop will begin with opening remarks from Prof. Toshiya Hoshino, Director of the ESG Integration Research and Education Center (ESG-IREC), OSIPP, Osaka University, followed by individual presentations from:

– Dr. Victoria Hurth, Fellow and Advisory Board Member, Cambridge Institute for Sustainable Leadership (CISL)

– Dr. Mario Abela, Strategic Advisor, Value Balancing Alliance (VBA)

– Prof. Philip Sugai, Director, Value Research Center (VRC), Doshisha University

– Prof. Haruko Satoh, Co-Director, OSIPP-IAFOR Research Centre, Osaka University

This half-day workshop will be held online on, Monday, Sept 25, from 16:00 – 18:30 JST

Details of the Workshop are on: https://sched.co/1SDJ

Free registration is available on: https://sciencesummitunga.com/ssunga78/

About the Value Research Center

The Value Research Center (VRC) at Doshisha University in Kyoto, Japan was established in November 2021. Its mission: to develop a practical system, a Value Model, for organizations to measure, monitor, assess and report their impacts on 7 key stakeholders: the organization itself, its shareholders, employees, customers, partners, society, and the planet.

The VRC enhances its Value Model continuously, integrating new frameworks as they are introduced, bringing greater transparency, objectivity and measurability to value creation – in ways we often didn’t see. The VRC Value Model gives government and industry eyes to see impacts they’re actually having, and the ability to fix what’s broken and enhance what they’re doing well. Learn more at www.valueresearchcenter.com

About the ESG-IREC Research Center

The Osaka University Graduate School of International Public Policy – ESG Integration Research and Education Center (ESG-IREC) conducts research on practical implementable “ESG integration” models in corporate and business activities for the creation of a more sustainable future. Visit www.osipp.osaka-u.ac.jp/en/.

ASTI Says Fresh Attempt to Remove 5 Directors Is Invalid; Urges Shareholders to Attend FY2021 AGM on 31 August Instead

  • Company’s lawyers have advised that 4 shareholders seeking to hold an EGM on 22 August had breached Company’s Constitution
  • ASTI accused the requisitioners of ‘usurping the right, power and entitlement of its directors to scrutinize, attend and conduct the proposed EGM (assuming that it was otherwise properly called)’
  • ASTI intends to release its audited FY2021 results this Wednesday and hold AGM on 31 August, which will facilitate the progress of a Potential all-cash Exit Offer already proposed by a consortium
  • Company is also asking SIAS to hold a dialogue next week that will include all shareholders, including requisitioners and representatives of the Potential Offeror

ASTI Holdings (ASTI or the Company) said today that a second attempt to call for an extraordinary general meeting (EGM) to replace all 5 current directors, as well as the EGM itself, are invalid. Instead, it urged shareholders to ignore the invalid EGM and to attend the Company’s Annual General Meeting for its FY2021 (FY2021 AGM) scheduled for 31 August 2023.

Acting on the advice of its lawyers, ASTI said 4 requisitioners seeking to hold an EGM on 22 August 2023 had breached Company’s constitution.

“The Requisitioning Shareholders are usurping the rights, powers and entitlements of the Board to scrutinize, attend and conduct the Proposed EGM (assuming it was otherwise properly held), and have made and continue to make it impossible for the Proposed EGM (assuming that it was otherwise properly held) to be actually, properly and validly held and conducted by the Board in all respects in compliance with the Constitution and such laws,” ASTI said.

ASTI also pointed out that the requisitioners have failed and/or neglected, or deliberately and recklessly without regard to their duty to give such Notice of the EGM to “all Members” as required by the Constitution. Further, no notice was given to the Auditor, which is also a requirement of the Constitution.

The second attempt to overhaul ASTI’s board is taking place after a consortium, Prospera Alliance Pte. Ltd. (“Prospera”), has expressed genuine interest to make a pre-conditional voluntary general cash offer (”Potential Exit Offer”) for the Company. The consortium comprises Stock Exchange of Thailand-listed Capital Engineering Network Public Company Limited (“CEN”) and a substantial ASTI shareholder, Mr Heah Theare Haw.

Prospera, whose offer ASTI believes remains “the only and most advanced exit offer available at the moment”, has said it is deeply concerned about the proposal to remove all current directors, and that it will re-assess the viability of implementing the exit offer.

As such, ASTI said it will continue to work with Prospera to address its concerns and to ensure amicable communications, so as to reach a viable solution in the best interest of the Company and for the benefit of all shareholders.

The 4 – Mr Ng Yew Nam (“Mr Ng”), Mr Lim Chee San, Mr Toh Cheng Hai and Mr Ng Kok Hian – had led an attempt in April 2023 – later deemed invalid – to call for an EGM to overhaul ASTI’s board. In their second attempted EGM, being called under section 177 of the Companies Act, they seek to appoint 5 new directors including Mr Ng as Executive Director.

Among the 5 current directors they seek to remove is a CEN-nominated director, Mr Theerachai Leenabanchong. Prospera has informed ASTI that it is concerned whether this indicates that the new board is not receptive to the Potential Offer.

ASTI said that the requisitioners, in breach of the Company’s Constitution, “clearly and unequivocally are usurping the right, power and entitlement” of the Board of Directors to conduct the Proposed EGM (assuming that it was otherwise properly held) in a proper manner.

Hence, shareholders should ignore the invalid 22 August 2023 EGM, ASTI said. To minimise disruptions caused by the requisitioners, the Company urged shareholders to focus on the FY2021 AGM 9 days later when they will be able to consider on the audited results, and vote on the election or re-election of directors and the appointment of the auditor for FY2022.

ASTI intends to release the FY2021 results by 16 August 2023 and hold the FY2021 AGM on 31 August 2023. This long-awaited AGM will allow ASTI to comply with and satisfy the requirements of the Second Notice of Compliance issued by the Singapore Exchange Regulation on 21 July 2023.

To address concerns of shareholders and to maintain a spirit of openness and discussion, ASTI has written today to the Securities Investors Association (Singapore) (“SIAS”) to facilitate and moderate a Shareholders’ Dialogue early next week, ahead of the FY2021 AGM.

ASTI said it intends to invite all shareholders, the requisitioners as well as representatives of the Potential Offeror to the dialogue. “We have been urging a spirit of open communications among all shareholders and with the Potential Offeror. Instead, the requisitioners have so far rebuffed our appeals with a response that they prefer legal correspondence,” ASTI said.

“ASTI has already achieved a financial turnaround in the first half of FY2022. The presentation of the FY2021 audited results to shareholders on 31 August 2023 will facilitate the progress of the Potential Exit Offer which can unlock value for all shareholders. Hence, we continue to seek open dialogue with all parties concerned,” the Company said.

The Potential Offer is subject to, amongst others, approvals being obtained from the Securities Industry Council (“SIC”) of Singapore. ASTI has been informed that the Potential Offeror has submitted an application to the SIC for the necessary approvals.

ASTI recorded an unaudited profit after tax of S$3.0 million for FY2022 which reversed a pre-tax loss of S$8.1 million in FY2021. However, it could not exit the SGX-ST Watch-list by the 5 June 2022 deadline as its six-month average daily market capitalisation was short of the S$40 million threshold. After several attempts to extend the deadline were rejected, ASTI’s shares were suspended from 5 July 2022 pending the completion of an exit offer.

Media & Investor Contact
Isaac Tang
WhatsApp (Text): +65 9748 0688 asti@wer1.net

Kitchen Culture: Business Update on Outstanding Legacy Issues and Strategy to Move Forward

  • Key updates on status of unresolved issues at the point of change of Board on 26 June 2023
  • Progress made by the new Board since taking over
  • Setting a new path forward to ensure a sustainable future ahead

The Board of Directors (the Board) of Kitchen Culture Holdings Ltd. (the Company or Kitchen Culture) hereby provides an interim update to lay out the legacy issues facing the Company that the Board has addressed or is currently addressing, as well as to provide shareholders with full transparency on how the Board intends to navigate the path forward.

The list of legacy issues that fell to the new Board upon handover from the previous Board on 26 June 2023 include the following:

a. the Company’s cash balances were so low that that meeting its daily operating expenses has posed significant challenges;
b. the previous Board had informed the new Board that outstanding liabilities as at 26 June 2023 was approximately S$3.1 million. These liabilities are currently being verified by the new Board;
c. no external auditor had been appointed since the previous auditor, Nexia TS Public Accounting Corporation (now known as CLA Global Public Accounting Corporation), did not seek reappointment at the last Annual General Meeting (“AGM”) held on 18 March 2022;
d. arising from (c), there is a delay in issuing the Company’s annual report for the 18-month period ended 31 December 2022 (“FY2022”) containing the audited financial statements for FY2022 and sustainability report for FY2022. Consequently, the Company failed to comply with the disclosure requirements under the Listing Manual Section B: Rules of Catalist (“Catalist Rules”) of the Singapore Exchange Securities Trading Limited (“SGX-ST”) to issue its unaudited financial statements for the quarter ended 31 March 2023 as well as the unaudited financial statements for the half year ended 30 June 2023 by the timeframe required under the Catalist Rules. On 30 April 2023, the Company has obtained no objection from the SGX-ST to hold its AGM for FY2022 by 16 October 2023 and to issue sustainability report for FY2022 by 30 September 2023;
e. in conjunction with (d), failure to comply with certain provisions of the Companies Act 1967 (the “Companies Act”) – No AGM has been held in respect of FY2022 and the Company’s application to the Accounting and Corporate Regulatory Authority (“ACRA”) for an extension of time to hold the AGM has been rejected on 28 April 2023, which means the Company has breached and is in contravention of Section 175(2) of the Companies Act 1967 in relation to the deadline to hold its AGM in respect of FY2022. The Company has also not filed its annual return with ACRA within the timelines required under the Companies Act;

f. a previous internal audit conducted by Baker Tilly Consultancy (Singapore) Pte. Ltd. in 2021 had identified certain weaknesses in the Company’s internal controls that are still outstanding and yet to be rectified; and

g. the report on the special audit conducted by Deloitte & Touche Financial Advisory Services Pte. Ltd. (“Special Auditor”) as directed by the Notices of Compliance (“NOC”) issued by the SGX-ST on 14 July 2021 and 19 August 2021 had not been issued at the time of change of the Board.

The Board’s immediate priority has been to resolve the outstanding legacy issues, including (a) negotiating with creditors to resolve all long overdue liabilities, (b) engaging an external auditor to audit the FY2022 financial statements, (c) working with the Special Auditor to complete the special audit, and (d) strengthening the Company’s internal controls, so as to elevate the Company to be in the position of pursuing new business directions. To this end, the Board is pleased to announce the following:

a. on 24 July 2023, the Company announced the full settlement with CDL Properties Ltd. (“CDL”) of S$430,662.13 being payment for rental arrears from December 2022 to March 2023, reinstatement cost, the holding rent for the period from April 2023 to 31 May 2023, interest and legal costs. This settlement mitigates the risk of the Company facing penalties by CDL as a result of it occupying the office space with no reinstatement since its eviction in March 2023;
b. on 28 July 2023, the Company completed the first tranche of S$3 million draw-down from the S$4 million loan from Asian Accounts Receivable Exchange Pte. Ltd.. This provides some urgently required cashflow to sustain operations, enabling the new Board room to concurrently negotiate settlement with other creditors;
c. the Company has commenced the process of identifying a new external auditor, with a view to convene an extraordinary general meeting (“EGM”) to formally appoint the new external auditor by the 3rd quarter of 2023. In addition, the Company is targeting to convene the FY2022 AGM, as well as releasing the financial results for each of the 1st, 2nd, 3rd and 4th quarters of FY2023 by the 1st quarter of 2024. To make good the previous lapses and eventually bring the Company’s financial reporting up to speed to adhere to the timelines under the Catalist Rules, the Company is looking to hold the FY2023 AGM and release the 1st quarter financial results of FY2024 by the 2nd quarter of 2024. The Company will be making the necessary applications to SGX-ST for the respective extensions of time for the release of the financial results and make the necessary announcements in due course.

In addition, the Board would like to inform shareholders that it is actively pursuing the following:
a. negotiating with creditors to settle all outstanding liabilities on terms in the best interests of the Company;
b. reviewing and seeking legal advice where necessary on the terms of the S$1.5 million loan agreement entered into by the Company during the tenure of the previous Board and exploring the best way to repay the loan when due;
c. actively engaging with the Special Auditor to complete phase 2 of the special audit by the 4th quarter of 2023;
d. engaging with the internal auditors to review if previously identified internal control weaknesses have been addressed, and to examine ways to strengthen these internal controls. This will concurrently address the 2 NOCs previously issued;
e. actively sourcing and/or developing new and sustainable businesses to be injected into the Company so as to inject a new lease of life into the Company and to raise additional funding for the continued operations and the development of new businesses for the Company; and
f. upon resolving all outstanding legacy issues with the gradual readiness of the Company to continuing to function as a going concern the Company will, through its continuing sponsor, consult the SGX-ST on the resumption of trading of its securities.

“The Company is committed to addressing the significant challenges and legacy issues inherited from the previous Board in a positive and transparent manner, with full accountability to our shareholders. The multitude of legacy issues, most of them unresolved in the last 2 years, will need time and effort to resolve and we ask for shareholders’ patience to allow us to work on getting the Company back on the path of restoration and growth.” said Mdm Hao Dongting, Chairperson of the Board. “We have already made some headway in tackling some of the most urgent issues as detailed above and are confident that with the right strategies and execution by the new Board, Kitchen Culture will be able to create sustainable growth and long-term shareholder value.”

“On behalf of the Board, we would like to express our deepest gratitude to the Company’s employees, customers and partners for their continued support during this period of transition. We look forward to working closely with all stakeholders to ensure a successful future for the Company”, added Mdm Hao.

For media queries, please reach out to:
Waterbrooks Consultants
Wayne Koo – wayne.koo@waterbrooks.com.sg +65 9338-8166
Derek Yeo – derek@waterbrooks.com.sg +65 9791-4707

Proud Investor Relations partner:
https://www.waterbrooks.com.sg/
https://www.shareinvestorholdings.com/

This media release has been reviewed by the Company’s sponsor, SAC Capital Private Limited (the “Sponsor”). This media release has not been examined or approved by the Singapore Exchange Securities Trading Limited (“SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this media release, including the correctness of any of the statements or opinions made or reports contained in this media release. The contact person for the Sponsor is Ms Lee Khai Yinn (Telephone: +65 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

The Institute of Chartered Accountants of India (ICAI) organises RESOLVE-2023, an Exclusive International Convention on Insolvency Resolution

For the first time in its 75-years history, The Institute of Chartered Accountants of India (ICAI) will hold a mega convention overseas in Singapore. This unique international convention — RESOLVE-2023 is a highly anticipated conference that will revolve around the overall “Insolvency Resolution” ecosystem. The Convention will be held at Singapore’s Grand Copthorne Waterfront Hotel on 4th & 5th August, 2023 and will explore into numerous aspects of the insolvency resolution including innovative and best practices, and models to review and redesign the legal framework of the proceedings.

The grand event will bring under one roof about 300 industry leaders, financial experts and distinguished guests for two days of knowledge enrichment and networking while offering them insights into the world of insolvency from across the globe. The Guest of Honour for the programme is Mr. Vikram Nair, Hon’ble Member of Parliament for Sembawang GRC, Republic of Singapore and some of the special guests and thought leaders who are participating are H.E Dr. Shilpak Ambule, High Commissioner of India to Singapore, Hon’ble Justice Ashok Bhushan, Chairperson, National Company Law Appellate Tribunal, Mr. Justice (Retd.) Arjan Kumar Sikri, Ex Judge, Supreme Court of India, Mr. Francis Ng SC, Official Assignee & Public Trustee, Ministry of Law, Singapore, Mr. Sudhaker Shukla, Whole Time Member, Insolvency and Bankruptcy Board of India, besides the top dignitaries and leadership of the Indian accounting profession, CA. Aniket Sunil Talati, President, ICAI and CA. Ranjeet Kumar Agarwal, Vice President, ICAI.

The discussions will encompass topics of significance like Alternative Dispute Resolution, Trend Analysis in Global Debt Resolution, Group Insolvency, Opportunity for International Funds, Essence of Insolvency Timelines, Innovative Approaches to Resolution, Role of Regulators & Policy Makers for an Effective Ecosystem, Role of Creditors, Market Dynamics for Stressed Assets, Valuation, Transaction Review etc.

Adding more insights on the RESOLVE-2023 CA. Aniket Sunil Talati, President, ICAI said, “A comprehensive and coherent Insolvency Resolution Framework is one of the core pillars of economic growth of any nation and a strong resolution framework is indispensable for laying down the foundation for future sustainable development. RESOLVE-2023 will provide a unique learning opportunity for professionals across the world to learn and share the best practices and developments in the space of insolvency resolution. Let us all professionals fully gear up and wholeheartedly Involve to Resolve.”

Speaking for the occasion CA. Ranjeet Kumar Agarwal, Vice-President, ICAI said, “Economic stability and prosperity require an effective insolvency resolution framework. The need for strengthening the insolvency resolution framework has assumed great importance recently. This Convention will facilitate networking and indulge in deep insight and cross-jurisdiction experience sharing with globally diverse practitioners through interactive discussions.”

CA. Gyan Chandra Misra, Chairman, Committee on Insolvency & Bankruptcy Code, ICAI added that, “RESOLVE-2023 Convention has been carefully crafted to facilitate the sharing of unparalleled knowledge and insights regarding best practices and emerging global developments in the field. It offers extensive networking opportunities for professionals in this domain and serves as a platform for professional enrichment in contemporary and emerging areas on a global scale.”

For this momentous convention, CA. Somnath Adak, Chairman of the ICAI Singapore Chapter shared, “The Convention has been designed in a way as to enable sharing of knowledge with unsurpassed depth and breadth about the best practices and emerging global developments in this sphere. ICAI Singapore Chapter, being the Ambassador of ICAI in Singapore is proud to host this event.”

About ICAI

The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament viz The Chartered Accountants Act, 1949 for the regulation and development of the profession of Chartered Accountants in India. The ICAI functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India, with more than 830,000 students & over 390,000 members, ICAI is the largest professional accounting body in the world, with a strong tradition of service to the nation. Today ICAI has a wide network of 5 Regional Councils and 168 Branches in India. It has 46 Overseas Chapters and 34 Representative Offices and a presence in 80 cities of 47 countries of the world.

Singapore Chapter of ICAI is a well-regarded professional body in Singapore. It plays a pivotal role in the professional development of Chartered Accountants in Singapore by curating & hosting professional events, webinars, and knowledge series events.

For media prc@icai.in
Jyoti Singh
9999926198

Kitchen Culture: Resolution of rental arrears and other legacy issues addressed

The Board of Directors of Kitchen Culture Holdings Ltd is pleased to announce the appointment of new Directors to the Board to move the Company forward from its recent troubled history. This is in line with the Board’s objective to usher in a new era of transparency, accountability and business expertise.

The Board is pleased to announce the significant progress in resolving some of these issues.

The Company had received a letter of demand on 14 March 2023 from CDL Properties Ltd in relation to the Company’s alleged default of the lease agreement between the Company and CDL. The Company was subsequently evicted from its premises by CDL on 16 March 2023. The Board is pleased to announce that the Company has reached a settlement with CDL on 21 July 2023 to fully settle rental arrears and reinstate the office in Republic Plaza.

The Board’s priority has been to resolve outstanding legacy issues, including negotiating with creditors to resolve all long overdue liabilities, engaging an external auditor to audit the FY2022 financial statements, working with the special auditor to complete the special audit, and strengthening the Company’s internal controls.

In addition, the Board received a letter of demand from Mr Tan Gin Tat on 17 July 2023 for the S$1.5 million loan extended to the Company in the year 2022, as this is one of the legacy issues requiring resolution. The Board is currently seeking legal advice on this matter and will update shareholders in due course.

The Board had on 21 July 2023 announced that the Special Audit in relation to the Payroll Matter and the Transaction as announced by the Company on 29 September 2021, as agreed under the scope of work of the Special Auditors, has now been completed. The Board will now engage with relevant professionals to address the issues and recommendations raised from the Special Audit. In relation to the appointment of a new external auditor, the Board has identified a suitable external auditor and will be seeking shareholders’ approval for the appointment in due course.

The Board is also focused on fundraising and evaluating sustainable business opportunities to ensure the Company’s future success. As part of these efforts, the Company will be releasing a detailed business update as soon as practicable.

“We understand that the Company has faced significant challenges in the past, and we are committed to addressing these issues and moving forward.” said Mdm Hao Dongting, Non-Executive Chairperson of the Board. “We are confident that with the right strategies and execution, Kitchen Culture will be able to create sustainable growth and long-term shareholder value. Meanwhile, the Board will be conducting a thorough review of the Company’s operational and financial procedures and implement policies and procedures that ensure the Company is run in a transparent, responsible and efficient manner.”

“On behalf of the Board, we would like to express our gratitude to the Company’s employees, customers, and partners for their continued support during this transition period. We look forward to working closely with all stakeholders to ensure a successful future for the Company”, added Mdm Hao.

Reference 1:
https://links.sgx.com/1.0.0/corporate-announcements/WNQSOC0ID4TO935Y/f4d36cf0925be5e34e49c820ebdeddb24fbb7cdd3559ef696d5b6967e350d058
Reference 2:
https://links.sgx.com/FileOpen/KC%20Annct%20-%20Update%20on%20Letter%20of%20Demand.ashx?App=Announcement&FileID=766248

For media queries, please reach out to:
Waterbrooks Consultants
Wayne Koo – wayne.koo@waterbrooks.com.sg +65 9338-8166
Derek Yeo – derek@waterbrooks.com.sg +65 9791-4707

Proud Investor Relations partner: https://www.waterbrooks.com.sg/ and https://www.shareinvestorholdings.com/

This media release has been reviewed by the Company’s sponsor, SAC Capital Private Limited (the “Sponsor”). This media release has not been examined or approved by the Singapore Exchange Securities Trading Limited (“SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this media release, including the correctness of any of the statements or opinions made or reports contained in this media release.

The contact person for the Sponsor is Ms Lee Khai Yinn (Telephone: +65 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

RHTLaw Asia Expands Debt Recovery Expertise with New Partner Addition

RHTLaw Asia, a regional law firm headquartered in Singapore, has appointed Mr Vernon Voon as Partner to oversee the firm’s debt recovery portfolio.

Vernon brings extensive experience and expertise in assisting clients with debt recovery litigation and management. Since 2004, he has honed his skills in this specialised field, successfully handling a wide range of cases involving the recovery of unsecured and secured debts and the resolution of complex payment issues related to debentures, bonds, and other financial facilities.

“With a deep understanding of the complexities involved in debt recovery, I am committed to delivering effective solutions to our clients in their pursuit of debt resolution and recovery. I am excited to collaborate with the talented team at RHTLaw Asia and contribute to the firm’s continued success,” said Vernon.

Vernon’s comprehensive legal background includes appearances before Singapore International Commercial Court, a Singapore High Court division renowned for handling transnational commercial disputes. He has valuable experience in general litigation, advising clients and arguing cases before respected entities like the Strata Titles Board, State Courts, and High Court. He has also aided in cases brought before the Court of Appeal.

RHTLaw Asia Managing Partner, Mr Azman Jaafar, said, “We are very familiar with Vernon, and we are excited to have Vernon back as a Partner leading the debt recovery practice. Vernon will be a valuable asset to our firm’s multidisciplinary approach to practice.”

About RHTLaw Asia LLP

RHTLaw Asia LLP is a leading regional law firm headquartered in Singapore with a network of offices in over 88 cities across Asia, Oceania, the Middle East and Africa through the ASEAN Plus Group (APG) comprising over 2,000 lawyers. We help clients understand the local challenges, and navigate regional complexities to deliver the competitive advantage for their businesses in Asia. RHTLaw Asia is a member of the Interlex Group, a global network of leading law firms, and HLB, a global network of independent advisory and accounting firms.

RHTLaw Asia is a member of ONERHT, an integrated network of multidisciplinary professional and specialist services which empowers stakeholders to achieve purposeful growth. For more details, please visit www.rhtlawasia.com

For media queries, please contact:
Elliot Siow / elliot.siow@rhtgoc.com / +65 8375 0417

APAC GCs Say Legal Departments Are Too Under-Resourced To Be Effective, Axiom Study Finds

Being an APAC-based General Counsel (GC) is hard, according to the results of survey by Axiom, the global leader in high-caliber, on-demand legal talent. Findings from Axiom’s APAC General Counsel Survey Report: Managing the Unmanageable, which surveyed300 Hong Kong (HK) and Singapore-based GCs across a wide range of industries, reveal three concerning and universal headlines. APAC GCs are:

1. Struggling to navigate budget cuts and hiring freezes. They say budget constraints will further erode their already under-resourced department. Many believe the cuts will be deep and the freezes imminent.
2. Skeptical that either law firms or internal hires can address their resourcing challenges. Why? First, because of the high costs associated with both. These GCs also note the tremendous difficulty of finding and hiring the right talent to meet their needs.
3. Unhappy with their careers. They are stressed and dissatisfied, citing an unmanageable workload and poor work-life balance.

“Given increasing workloads and decreasing budgets, the headline findings are concerning, but not surprising,” said Yolanda Chan, Managing Director, Asia Pacific, Axiom “Our intention was to look behind the headlines and to uncover the more nuanced pain points of the legal function. For that reason, we didn’t want to simply understand that GCs feel under-resourced – we want to identify where, specifically, they feel a dearth of expertise and how they anticipate those needs will change over time.”

Continued Chan: “The survey results paint a complicated picture of a legal department that needs skill remediation right now but is struggling to efficiently access legal consultants with the necessary skillsets through traditional channels.”

Struggling to Do More with Less

Survey findings reveal that APAC GCs are facing a parallel crisis of budget cuts and increasingly complex workloads. Ninety per cent of APAC GCs say their legal department budget has been cut because of economic conditions and ongoing volatility. On average, APAC budget cuts represent 3% of company revenue—which in real dollars, is significant. Singapore-based GCs have seen their budgets shrink by US$3.7M and their HK peers have experienced budget cuts averaging US$1.7M. This is even though approximately half (45%) of APAC GCs report their department is seeing an increase in both the volume and complexity of legal matters.

These compounding issues create a perfect storm for GCs trying to maintain a staff capable of doing more with less. In fact, the vast majority of APAC GCs (92%) say their department does not have the necessary staffing resources in-house to do its job effectively. Moreover, more than one-third (35%) of APAC GCs feel they do not have the right legal expertise on their team to address current or anticipated legal needs. Just where is that expertise lacking?

The top 3 current deficits include labor & employment, regulatory and compliance, and real estate expertise. Looking forward, APAC GCs believe they will face future deficits around new/emerging areas, banking/finance, and data privacy and cyber security matters. That these deficits are set to change so quickly suggests a fast-moving environment where expertise is incredibly valuable and finding the right talent is key.

Addressing Resourcing Challenges: Internal Hires

APAC GCs can’t just hire their way out of trouble—and they know it: only 21% call hiring additional full-time legal consultants an appropriate solution to address their resourcing issues. Why? There are a few reasons.

First, 93% of APAC GCs anticipate a hiring freeze this year. Second, because in-demand expertise is evolving so quickly, hiring permanent staff won’t effectively address current or anticipated expertise.

Third, permanent headcount is expensive. In fact, the majority of APAC GCs (61%) cited cost as the primary reason full-time hires are not an adequate response to resourcing needs.

Addressing Resourcing Challenges: Law Firms

When ‘staffing up’ doesn’t work, GCs look to ‘send out’ to law firms. Many GCs have long-standing relationships with law firm partners to whom they can turn for high-quality and experienced counsel. These relationships are particularly critical for exceptional events and bet-the-company matters. They are less helpful for supporting ‘overflow’ work, as noted by the fact that only 33% of APAC GCs say law firms are an effective solution for their current concerns.

According to over half of survey respondents, much of it is a matter of cost. Globally, law firm clients expect rate increases between 5-15% in 2023, with some firms expected to hike rates by 30%+

The Solution: Flexibility

Survey findings indicate that APAC GCs are eager to solve for their resourcing challenges by embracing the benefits of flexibility. Unlike expensive law firms and in-house hires, 62% of APAC GCs overall (and 72% of HK-based GCs in particular) say elite ALSPs, like flexible legal talent providers offer better value for every budgeted dollar.

APAC GCs also recognise the many benefits of working with these ALSPs that extend well beyond cost. Almost half (46%) say that ALSPS offer effective administrative management to ease the burden of law firm supervision.

Concluded Chan: “How can growing demands and shrinking support still equal high performing legal teams? The solution, according to the majority of GCs, is to embrace flexible legal talent. This modern model not only improves risk mitigation by matching legal matters to the right legal consultants, but it also allows APAC enterprises to minimise the sunk costs of permanent in-house hires and limit law firm spend to exceptional events. Our survey findings reveal that flexible talent is the right resourcing solution to complement in-house teams and their firms as GCs seek to navigate a recessionary economy.”

Survey Methodology

The survey, which was conducted by global research firm Coleman Parkes between January and February 2023, surveyed 150 Singapore-based and 150 Hong Kong-based General Counsels working at companies with an annual average revenue of US$1 billion across a wide range of industries regarding their current roles and career trajectories.

About Axiom

Axiom is a global alternative legal service provider where legal teams go to find the right talent for everything from ongoing in-house matters to complex outside counsel work. Too many legal consultants and legal departments are stuck in a forced compromise. Legal departments have high standards when it comes to finding the right talent and getting the right value. Plus, top legal consultants want more control over how, when and where they practice. Axiom shares and meets the higher standards of its global clients and 14,000+ legal consultants — connecting mid-market and Fortune 500 companies with the world’s deepest and widest bench of experienced, highly qualified legal talent. Axiom. Higher standards welcome.

Media Contact
Hazel Ramirez
Plat4orm PR
hazel@plat4orm.com

RHTLaw Asia Appoints Sim Sze Kuan as Of Counsel

Singapore-headquartered regional law firm RHTLaw Asia welcomes Mr Sim Sze Kuan as Of Counsel, effective 6 July 2023 to strengthen the firm’s private wealth practice.

Sze Kuan brings with him extensive legal experience spanning over three decades. His professional qualifications include being called to the Bar in England & Wales as a Barrister in 1989, being admitted as an Advocate & Solicitor in Singapore in 1990, obtaining solicitor status in Hong Kong in 1996, and joining the New York Bar in 2004.

With his extensive background in family office, investments, and asset management, Sze Kuan brings a wealth of knowledge and expertise that will enable him to contribute effectively to RHTLaw Asia’s private wealth practice. His deep understanding of these areas will allow him to provide strategic advice and guidance to clients seeking to establish family offices in Asia.

Sze Kuan said, “The firm’s core multidisciplinary capabilities and client-centric approach provide an ideal platform for me to leverage my deep understanding of the complexities in private wealth management to provide strategic guidance and help clients achieve their goals. I look forward to collaborating with my colleagues to drive the success of RHTLaw Asia across the region.”

As an Of Counsel, his addition will strengthen the firm’s capabilities in serving high-net-worth individuals and families, enabling the delivery of tailored legal solutions to meet their unique needs.

RHTLaw Asia Managing Partner, Mr Azman Jaafar said, “As we witness the growing trend of Asian capital migrating into Asian financial centres, Sze Kuan is well-positioned to leverage his experience for the benefit of our clients.”

About RHTLaw Asia LLP
RHTLaw Asia LLP is a leading regional law firm headquartered in Singapore with a network of offices in over 88 cities across Asia, Oceania, Middle East and Africa through the ASEAN Plus Group (APG) comprising over 2,000 lawyers. We help clients understand the local challenges, navigate regional complexities to deliver the competitive advantage for their businesses in Asia. RHTLaw Asia is a member of the Interlex Group, a global network of leading law firms, and HLB, a global network of independent advisory and accounting firms.

RHTLaw Asia is a member of ONERHT, an integrated network of multidisciplinary professional and specialist services which empowers stakeholders to achieve purposeful growth. For more details, please visit www.rhtlawasia.com