In order to manage, first measure. An accurate valuation of your business is critical to successful management.

In order to manage, first measure. An accurate valuation of your business is critical to successful management.

Real estate is often the most valuable asset on the balance sheet. When was the last time you had it reliably valued?

Real estate is often the most valuable asset on the balance sheet. When was the last time you had it reliably valued?

Often overlooked but always critical. Typically machinery & equipment is only considered for managing depreciation.

Often overlooked but always critical. Typically machinery & equipment is only considered for managing depreciation.

Censere Opens Frankfurt Office

Censere is pleased to announce the opening of our first European office, in Frankfurt. We have seen increased cross-border investment between Europe and Asia in recent years and our new Frankfurt office is a means of both assisting European clients who are investing into Asia and assisting Asian clients in Europe. Accordingly, we have  2 directors based in Frankfurt; ...
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Censere Opens Shenzhen Office

Censere is pleased to announce the opening of our third office in Mainland China, with Shenzhen joining our offices in Beijing and Shanghai. Shenzhen is an ideal location for Censere, being both a finance and technology centre in China. We have a number of clients in Guangdong Province and now better placed to service them. Philip Chui, previously in our Shanghai office, h...
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NZ FMA Issues Crypto Coin Offer Guidance

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The New Zealand Financial Markets Authority has issued guidance which indicates that offers of digital coins or crypto-currency is a regulated activity unless it is less than the NZ$2m threshold for crowd-funding or specific exemption is sought and granted. See the following article for more information:  https://fma.govt.nz/compliance/cryptocurrencies/initial-coin-offers/
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Congratulations to Sea Limited on their successful IPO!

Congratulations to Sea Limited on their successful IPO!
​Censere would like to congratulate Sea Limited on their successful IPO on NYSE.  Sea Limited successfully raised US$884m on NYSE and Censere is honoured to have been part of the team of professionals who assisted.
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HK Office relocation

HK Office relocation
​Censere's HK office has relocated to the following address: Unit 101, Shun Kwong Commercial Building, 8 Des Voeux Road West, Hong Kong Our phone and fax number remain the same: Tel. +852 2511 2011  Fax. +852 2511 2005
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Adie Gupta appointed Managing Director

Censere is pleased to announce that Adie Gupta has been appointed to the role of Managing Director, effective immediately. Adie originally joined Censere in our Sydney office as a Director and has also been overseeing our KL office for the last 2+ years. His appointment to Managing Director reflects the regional role he has been playing and his ability to oversea complex c...
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Congratulations again to CMOC!

Congratulations again to CMOC!
Following fast on the heels of CMOC's USD1.5 billion acquisition in Brazil, they have recently successfully completed the acquisition of Freeport's 56% interest in Tenke Fungurume Copper and Cobalt mine in the Democratic Republic of Congo for USD2.65 billion. We are honoured to have been part of the team of professionals who assisted CMOC in this acquis...
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Congratulations to CMOC!

Congratulations to CMOC!
​Censere would like to congratulate CMOC on the successful acquisition of Anglo American's Niobium and Phosphates business in Brazil for USD1.5 billion. We are honoured to have been part of the team of professionals who assisted CMOC in this acquisition and bring it to a successful conclusion.
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Conservatism in Valuation

Conservatism in Valuation
Conservatism or prudence is a major building block in financial reporting. Earnings and asset values should not be overstated whilst liabilities and expenses should be accounted for in full. This helps guard against potential financial statement manipulation and misrepresentation. Asset valuation, on the other land, is unavoidably judgmental, and conservatism always plays a rol...
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Stratiqa wins IP Valuation Award

Stratiqa wins IP Valuation Award
Stratiqa has won the AI Intellectual Property Award for "Best IP Consultancy Firm - Asia Pacific & Sustained Excellence in IP Valuations - Asia Pacific ​ ". This comes only months after Censere and Stratiqa merged their respective IP practices, and is a testament to the quality work and client focus that Stratiqa has become known for. "We are proud of the recognition t...
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MALAYSIA - Censere participates in the MaGIC Central & ACE Open Day

MALAYSIA  -  Censere participates in the MaGIC Central & ACE Open Day

 

Malaysian Global Innovation & Creativity Centre (MaGIC) Central and ASEAN Centre for Entrepreneurship (ACE), both Malaysian Government funded agencies, organised an 'Open Day' event on 29 February 2016 at CyberJaya, Malaysia for entrepreneurs and start-ups to seek help and guidance from various Government Agencies and the partners of MaGIC and ACE.  

30 Government Agencies and partners as well as 180 entrepreneurs and start-ups attended the Open Day making it a very successful event. 

Censere participated as one of partners of ACE and provided information and guidance to a number of participants on valuation matters as well as funding options available to entrepreneurs and start-ups in Malaysia as well as in the Asia Pacific region. Tan Sri Dr. Irwan, Chairman of MaGIC and Secretary General of Treasury, Ministry of Finance (MOF) thanked Censere for its participation and guidance to the participants on the day.

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HONG KONG - Censere listed as a professional service provider of "One Belt, One Road" initiative by HKTDC

The "One Belt and One Road" Initiative is a significant development strategy launched by China to promote economic cooperation among countries along the Belt and Road routes in three continents. It has been structured to enhance the free-flow of economic factors and to create a regional economic co-operation framework, benefiting all participants. An infrastructure fund wa...
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Censere Opens Jakarta Office  

Censere continues to extend its network throughout Asia Pacific with the opening of our Jakarta office. This is our 13th office and we continue to look for new opportunities in Asia to provide further assistance to our Clients.

Contacts details for Jakarta can be found  here.

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Cleantech Market Review – Recent Developments in Fuel Cells

Major Applications of Fuel Cells

The evolution of the concept of the fuel cell can be traced back as far as 1801. However, the practical usage of fuel cells only began in the mid 20th century and significant commercialization of fuel cell has only occurred in the past decade.  Nevertheless, fuel cells are expected to play a more important role as power sources in the future due to its desirable characteristics. First of all, unlike conventional power sources, hydrogen fuel cells are emission free as they produce electricity by electrochemical reaction instead of combustion. Secondly, compared to other renewable sources, such as solar energy and wind energy, fuel cells are more reliable as they are not dependent on energy sources which might be periodically short of supply. Theoretically, a fuel cell can run indefinitely as long as it is supplied with source of hydrogen and oxygen.

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Intellectual Property Rights in China – An Introduction of Enterprise Name Right

Composition of Enterprise Name

Following the development of the market economy in China, enterprise name rights have become an important type of intangible asset for companies, and play an important role in the long-term development of companies. Moreover, companies now attach more importance to the publicity and promotion of their names. As a consequence, enterprise name disputes have become more frequent. This article aims to introduce enterprise name rights in China and some associated legal issues. An enterprise name right is the right, available to a lawfully established enterprise, to lawfully use its name. The administrative area, name, trade, and form of the organization are four composites of an enterprise name. 

  • Administrative area: refers to place where the enterprise is located, for example: Beijing or Shanghai
  • Name: refers to the “name” an enterprise uses to distinguish itself from other individuals or entities, such as Jiaduobao or Panasonic
  • Trade: refers to the enterprise’s business field, such as construction or pharmaceuticals 
  • Form of organization: refers to whether an enterprise is a limited company, joint stock limited company, or some other form of organization
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Food Security Problem in China

The “Food Security” Concept Evolved since 1970

The term “food security” evolved in the mid-1970s at the time of a global food crisis. Primarily, it focused on food supply problems such as the assurance of availability of food and maintenance of stability of price of basic foodstuffs. As time progressed, the definition of food security has also been reviewed and redefined to fit with the changing circumstances. In 1996, new elements, such as safety and nutrition have been incorporated into the definition emphasizing their importance for maintaining a healthy population. Therefore, according to the World Health Organization (WHO), food security consists of three main components:

  • Food availability: sufficient quantities of food available on a consistent basis.
  • Food access: having sufficient resources to obtain appropriate foods for a nutritious diet.
  • Food use: appropriate use based on knowledge of basic nutrition and care, as well as adequate water and sanitation.
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China Coal Industry 3Q2013 Update

Current Status of the Chinese Coal Industry

The Chinese coal industry is facing a challenge arising from the long term control of the electricity price. This is due to coal being the major resource used in power generation in China. In order to provide a stable electricity price to consumers, the PRC government has closely monitored the volatility of the coal market price. In Dec 2012, China's state council announced it would reduce the stringent monitoring of the coal and electricity dual-pricing system. The major coal producers and government have agreed to take the Bohai-rim Steam-Coal Price Index as the reference for the coal price for power generators. This places a limitation on the development of coal enterprises in China. Maintaining a healthy environment for the coal enterprises to survive has become a controversial and important issue for the industry participants and Government to explore. The coal industry is a traditional industry in China and has played an essential role in economic development and a key role in the supply chain of China. However, this industry has already entered its mature stage and it is difficult to make a great change in the current stage. The Government plays an important role in the development of the coal industry because the industry needs strategic support and guidance from the Government.

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SGX New Requirement in IPR Disclosure

The disclosure requirements for listing in Singapore Stock Exchange (SGX) have increased with the recent request of making public all material information related to Intellectual Property Rights (IPR).

IPRs have always been a source of long standing competitive advantage and often companies have been reluctant at providing such information. However, with the updated Listing Rule 703, Singapore is imitating a similar guideline issued by the Hong Kong counterpart a few months earlier.

The new rule aims at creating a safer environment for investors – the stock market house ensures. As modern companies base their success and growth increasingly on IP and other forms of intangible assets, SGX wish to replicates this situation in the documents available to investors. By knowing how much of the business depends on IPRs and how risky these assets are, investors can get a clearer idea on where to put their money.

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Transfer Pricing for Intangibles: How to Avoid Making the News

About the Author:

Steven Carey is a Senior Partner of Quantera Global and is recognised as one of Hong Kong’s leading transfer pricing advisors in Euromoney Guide to the World’s Leading Transfer Pricing Advisors. He has provided transfer pricing design, documentation and dispute resolution services to multinationals over the past 12 years across Greater China, Asia Pacific and Europe. If you have further inquiry, you can email to : This email address is being protected from spambots. You need JavaScript enabled to view it. .

It would have been impossible over the past six months to have read a newspaper without reading about the taxation challenges faced by some of the world’s largest multinational companies (“MNCs”) and iconic brands, including Apple, Google and Starbucks. This has resulted in, amongst other things, tax audits worldwide for Google, an appearance before a Senate Hearing by Apple’s CEO to defend the company’s tax arrangements, and a public boycott of Starbucks stores in the UK leading to a “voluntary” tax payment by the company to the UK Revenue.

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Introduction of Patent Rights in China II

Scope of the China Patent Law and Application Procedures

Patent rights are one type of intellectual property right. The current Patent Law in China protects three types of work including inventions, utility models and designs. The technical aspect of a product is the  primary  protected content of inventions and utility models, whereas patents of design concern new designs of shape, pattern or a combination of the two. The authority overseeing patent issues, including patent application, is the State Intellectual Property Office of P.R.C. (SIPO). The examination and approval of a patent is based on a first-to-file principle. Starting from the filing date, a patented invention  can enjoy a 20 year protection term whilst the term for a utility model and design patent is limited to 10 years.

The general process of applying for a patent right in China is illustrated below; details of each patent type will be discussed in later sections.

Step I: Check if the patent has been registered or not before making an application.

Step II: Documents preparation:

· Inventions &Utility models – Prepare two copies of all the following documents:

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