Business Valuation

Property Valuation

Corporate Transaction 

Previously, we are honored to be engaged by COSCO SHIPPING Holdings Co., Ltd. (1919.HK) in providing PPA valuation services for their Acquisition of Orient Overseas (Int’l) Ltd. (316.HK). This was the largest M&amp;A transaction in the global shipping industry in terms of deal price.
 
Please <a href="../../../../../uploads/CaseHighlight_COSCO_20190503_87da489474.pdf" target="_blank" rel="noopener">click here</a> to know more about the acquisition and its transaction synergy and our engagement. 
 
<img src="../../../../../uploads/a_a82449e3a4.png" alt="" width="700" height="495" /><a href="../../../../../uploads/CaseHighlight_COSCO_20190503_87da489474.pdf" target="_blank" rel="noopener"><img src="../../../../../uploads/a_e1c764fdde.png" alt="" width="700" height="493" /></a>

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CFA, FCPA, FCPA (Aust.), MRICS, RICS Registered Valuer
Vincent is the Founder and Managing Director of AVISTA Group, who leads the firm’s Valuation Advisory, Risk Management Advisory, ESG Advisory and Corporate Advisory services in Hong Kong and the PRC.
Vincent has 20 years of experiences in valuation advisory, M&amp;A advisory, business consulting and corporate investment, advising clients in a range of industries, including TMT, financial services, pharmaceutical and energy etc. Hence, He has been leading the firm to make breakthroughs in these areas.
Before founding AVISTA, Vincent served as an Associate Director of PwC and was in charge of the valuation division in Beijing. He has advised numerous large M&amp;A deals in both China and overseas for multinational corporations and Chinese state-owned enterprises. He also has extensive experiences in providing valuation services for US and HK IPO listing.

VINCENT PANG

Managing Director

Hailey is responsible for business valuation, intangible asset valuation and financial instrument valuation service for financial reporting and consulting purposes.
Hailey has over 10 years’ experience in valuation service and M&amp;A financial advisory service in China. Before joining AVISTA, Hailey was a manager in PricewaterhouseCoopers with working experience in both Valuation Service and Corporate Finance Department.
During the past years, Hailey has participated in several large M&amp;A deals to provide modeling, pricing valuation or valuation advisory service. Besides, she was involved in numerous projects for US and HK listed or pre-IPO listing companies to review their valuation prepared for financial reporting purpose. In addition, she also acted as a financial advisor for several private equity financing and outbound acquisition projects.

HAILEY JIN

Director

CFA, FCPA, LL.M, MRICS, RICS Registered Valuer
Ivan is mainly responsible for business valuation, intangible asset valuation and financial instruments valuation for financial reporting purpose and consulting &amp; advisory purpose.
Ivan has 10 years’ experience in valuation sector. Prior to joining AVISTA, Ivan has worked with KPMG in Risk Advisory Service and Assurance Departments. Ivan has led several local and overseas valuation and advisory projects across different industries for transaction, IPO and financial reporting purposes.

IVAN LUI

Case Highlight - Acquisition of Orient Overseas (Int'l) Ltd. by Cosco Shipping Holdings Co., Ltd.

Coupled with rising concerns of climate change and governments’ commitment to carbon neutrality, it is an irreversible trend of electric vehicles increasingly being adopted, with China and Europe being the key markets. This phenomenon has unsurprisingly brought investment attractiveness in the financial market. The electric vehicle-related Exchange Traded Funds (ETF) notably outperformed the general market in both the United States and China over the previous year, which was contributed by the companies in the value chain of industry, ranging from lithium &amp; battery to vehicle manufacturing.
 
Click <a href="../../../../../uploads/New_Energy_Vehicle_Sector_Update_July_2021_1b542f4196.pdf" target="_blank" rel="noopener">here</a> to download the full report. 
 
<a href="../../../../../uploads/New_Energy_Vehicle_Sector_Update_July_2021_1b542f4196.pdf" target="_blank" rel="noopener"><img src="../../../../../uploads/EV_cover_en_1039de1b40.JPG" width="600" /></a>

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Electric Vehicle Sector Update - July 2021

The Securities and Futures Commission (“SFC”) issued a circular providing guidance to management companies of SFC-authorized unit trusts and mutual funds on enhanced disclosures for funds that incorporate environmental, social and governance (“ESG”) factors into their key investment focus (“ESG funds”) on 29 June 2021.
 
As a replacement for the previous version released in 2019, the circular includes an additional requirement that ESG funds should conduct and disclose periodic assessments concerning how ESG factors are integrated and provide guidance for climate-oriented ESG funds.
 
According to SFC, the number of ESG funds offered to the public in Hong Kong has more than doubled since 2019. Increasing awareness regarding ESG investing has led to a need for asset managers to clearly explain their ESG focus, helping investors determine if the products meet their investment goals.
 
The circular outlines the requirements for ESG funds to disclose in their offering documents, including a description of the ESG focus and a list of ESG criteria used to measure the fund’s ESG focus, such as filters, indicators, ratings, third party certificates, etc. ESG funds should also disclose their investment strategies, asset allocations, benchmarks and risks associated with their ESG focus. Furthermore, there are new requirements outlined in the updated circular, requiring ESG funds to make periodic assessments and reports on attaining the ESG focus, and specific guidance for ESG funds that focus on climate change.
 
"Making sustainability-related disclosures more transparent, comparable and consistent will help investors identify suitable ESG funds and reduce opportunities for greenwashing," said Mr Ashley Alder, the SFC's Chief Executive Officer. “Hong Kong’s financial market is where global capital connects with Mainland enterprises, so what we do here can have an outsized influence on global developments in green and sustainable finance.”
 
Currently, there are about 60 SFC-authorised funds with an investment focus on climate change, green, ESG or sustainable development in the SFC database on authorised ESG funds. To enhance transparency for these funds, their key features will also be listed in the database after the new circular takes effect on 1 January 2022.
 
As the ESG landscape is still developing rapidly, the SFC will continue to monitor the market developments and may provide further guidance or impose additional requirements for ESG funds, where appropriate.
 
Click <a href="https://apps.sfc.hk/edistributionWeb/api/circular/openFile?lang=EN&amp;refNo=21EC27" target="_blank" rel="noopener">here</a> to read the full circular.
 
<a href="https://apps.sfc.hk/edistributionWeb/api/circular/openFile?lang=EN&amp;refNo=21EC27" target="_blank" rel="noopener"><img src="../../../../../uploads/cover_en_a007a82352.JPG" width="250" /></a>