The BottomlineJuly 2007 IssueHong Kong Division

Presidential Message

Dear members and students of CIMA Hong Kong Division

It is with great pleasure that I write to you during the first week of my Presidency of the Hong Kong Division.

I would like to thank Peter Choy FCMA for his third term as President from 2006 - 2007. During Peter’s Presidency CIMA has achieved many milestones including a strong relationship with HKICPA and other professional bodies in Hong Kong. During the year CIMA Hong Kong Council was invited by HKSAR to take part in two Trade Missions to Mainland China. Both of these missions are reported on in this newsletter. Through these missions CIMA members have had the opportunity to network with Mainland Chinese companies, government departments and Universities with the view to promoting CIMA.

I would also like to take this opportunity to thank Kenneth Chan FCMA as area representative to CIMA Council in London and his recent re-election to this position. Kenneth has provided the CIMA Council with up-to-date strategy information from the Council and has taken the lead role in the preparation of a proposal for a new regional structure.

During my term as President I aim to:

• Provide membership service to all members in Hong Kong by promoting continuing professional development that supports members in enhancing their professional competence and also develop a technical agenda which ensures that the CIMA voice is heard in all spheres of influence, and which supports members in their career development.

• Develop strategies of student recruitment and support, especially in Tertiary Education Institutes through providing a recruitment support framework in partnership with employers and educationalists that promotes and encourages competent students to become members. Also encourage student enrolment at tertiary education institutes through scholarships and course subsidies.

• Enhance the CIMA brand. CIMA members are highly regarded for their management and accounting competence and professional standards and it is of great importance that we uphold this reputation. Through the Trade Missions held in Mainland China last year CIMA has successfully made connections with Mainland Chinese companies and organizations. In the year ahead we will continue along this line to promote our image and build on our recognition as the authoritative voice on financial and business management issues in the region.

Last but not least I must emphasize that the success of the Hong Kong Division is very much dependant on the contribution from all CIMA members and therefore I will strive to strengthen communication among all members throughout my term.

Hong Kong Division is very well positioned for the future and I look forward to working closely with the divisional staff, council members, committees and all CIMA members to take our success to the next level.

Yours sincerely

Michael Chan FCMAPresident, CIMA Hong Kong Division

CIMA Hong Kong contacts

CIMA Hong Kong 23rd Annual General Meeting 2007

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President Michael Chan FCMA presents Immediate Past President Peter Choy FCMA with the Past President’s Medallion.

Peter thanks outgoing Councillor Mr Andy Lee for his contribution to the HK Council

Peter thanks Immediate Past President Paul Yeung for his contribution to HK Council

Michael Chan thanks Peter Choy for his three terms as President, first in 2002 and again in 2006.

Hong Kong divisional council 2006/2007

President Chan Yui Lung, Michael FCMA

Deputy President Cheung Wai Yin, Leo ACMA

Vice President Chan Kin Lok, Paul FCMA

CIMA Council Member, Area 15 Chan Kai Chi, Kenneth FCMA

Immediate Past President Choy Chak Wa, Peter FCMA

Treasurer Ho King Lam, Kingston FCMA

Council Members Cheng Sau Ying, Irene ACMA Iu Tak Meng, Teddy FCMA Lam Yuen May, Amy ACMA Li Wing Sun FCMA Pang Cheung Hing, Alex ACMA Pun Kwok Wing, Jimmy FCMA Sze Tak Chee, Sidney ACMA Tsang Fan Fung, Andy FCMA

Communications committee

Chairman Ho King Lam, Kingston FCMA

Committee Members Chan Nap Tuck, Anthony FCMA Cheng Loi, Sammy FCMA Ho Wai Ming, Harry Kee Ying Sum, Sam ACMA Lam Suet Fun, Katy Suen Sen Yung, Daniel Tsui Ming Yan, Kevin Wibowo, Novianto

By Invitation Dr Agatha Fraser

Editor Margarret Fidow ACMA

Staff contribution Juliee PL Tan Kieran Lam

CIMA Hong Kong Division Suites 1414-141514th Floor, Jardine HouseCentral, Hong Kong

T.: +852 2511 2003 F.: +852 2507 4701 E.: hongkong@cimaglobal.com www.cimaglobal.com/hongkong

Disclaimer: CIMA reserves the right to grant permission to reproduce articles. Opinions expressed in the Bottomline are the authors’ own and do not necessarily represent the policies of their employer or CIMA divisional council. CIMA accepts no responsibility for views expressed by contributors. The publisher reserves the right to refuse, cancel, amend or suspend any advert or insert. No liability is accepted for loss arising from non-publication, incorrect or late publication of any item. The inclusion of any advertising material does not imply that CIMA endorses the product, service etc advertised.

CIMA Hong Kong 23rd Annual General Meeting 2007

On Wednesday 20th June, Mr Michael Chan FCMA was elected as the President of the CIMA Hong Kong Division for 2007-2008. The Deputy President Mr Leo Cheung ACMA and Vice President Mr Paul Chan FCMA were also elected as Honorary Officers for 2007-08.

The Chairman for the meeting, Mr Peter Choy FCMA and outgoing President announced that a total of seven members were to be elected to the Council with two vacancies serving a two year tem and five vacancies serving a three year term. The elected members are: Mr Kingston Ho FCMA, Mr Teddy Iu FCMA, Mr Jimmy Pun FCMA, Dr Li Wing Sun FCMA, Dr Sidney Sze ACMA, Ms Irene Cheng ACMA and Ms Amy Lam ACMA.

Outgoing President Peter Choy stated ‘It was indeed my honor to be CIMA Hong Kong Division President for 2006-07. As you all know this is my third term as President and I am appreciate the work done our Area Representative Mr Kenneth Chan and our Divisional Manager Juliee and her secretariat team who has given a lot of support in the last year’.

Mr Michael Chan thanked Peter Choy and Paul Yeung FCMA, Immediate Past President for their excellent

2007-2008 CIMA HK Council L to R back: Mr Andy Lee, Mr Teddy Iu, Mr Alex Pang, Ms Amy Lam, Mr Andy Tsang and Dr Li Wing Sun L to R front: Ms Irene Cheng, Mr Kenneth Chan, Mr Peter Choy, Mr Michael Chan, Mr Paul Chan, Mr Paul Yeung and Ms Judy Vulker (Interim Divisional Director)Absent: Mr Kingston Ho, Mr Jimmy Pun, Dr Sidney Sze and Mr Leo Cheung

L to R: Mr Robin Ching, Mr Patrick Yeung, Mr Joseph Lai and Mr Kenneth Chan

leadership over the last 2 years. Long serving Council members Dr Joseph Yau FCMA and Mr Andy Lee FCMA were acknowledged for their contribution to CIMA’s success in Hong Kong.

New President Mr Michael Chan also noted that there were many challenges for CIMA Hong Kong this year and he would focus the work of Council on member services, particularly in relation to networking with other members in Mainland China, increasing brand awareness through improving employer relationships and improving student services.

Visit to Zhengzhou

CIMA Hong Kong Division was invited by the China Council for International Investment Promotion (Ministry of Commerce Bureau) to join the Second Expo Central 2007. The event was held from 25 - 29 April 2007.

CIMA was the only Accounting Body in Hong Kong to be invited to join the event. The other group of Hong Kong delegates (HK Trade Development Council) was led by HKSAR Chief Executive Mr Donald Tsang. As delegates were scattered throughout the Southern Part of China, we began our journey from 3 different places (Hong Kong, Shenzhen and Guangzhou).

On April 25, we met the Assistant Minister of Commerce Chen Jian together with the delegation from Hong Kong Commerce, Industry & Technology Bureau and business circles who came to Zhengzhou to attend the Expo Central China 2007, capital city of Henan Province.

After the ceremony, we attended the Central China Business Summit 2007 together with Vice Premier Wu Yi, Minister of commerce Bo Xilai, HKSAR Chief Executive Mr Donald Tsang, Macao Chief Executive Mr Edward Ho.

During the Summit, we met Ms Zhao Lei – Director Investment Group, Mr Wang Hui – Deputy Director – General of EAD, Head of Commercial Office, The Government of the Hong Kong Special Administrative Region Ms Yvonne Choi – Permanent Secretary for Commerce, Industry and Technology, The Office of the Government of the HKSAR in Bejing, Mr Thomas Tso – Director and Hong Kong Economic and Trade Office in Shanghai Mr Patrick Chan Director.

Later in the afternoon CIMA IPP Paul Yeung and Mr WS Li (an ex-CIMA HK Division Council member) attended a visit to the Henan University of Finance and Economics on the afternoon of 27th April (Friday) in Zhengzhou (provincial capital of the Henan Province).

We were greeted by the Head of the Accounting Dept, Professor Zhe, and Director of Foreign Affairs Office, Mr Yuan Dong Li. Having briefed both of them about CIMA and our desire to understand more about their institute, we were led to a conference

room where a group of 30 postgraduate students in Accounting were waiting. We briefed the group about the background of CIMA and shared our experience as professional management accountants. Some Q & A followed around the areas of how to join CIMA and take the exams in China.

This is the first time in the past few years CIMA Hong Kong Division officially visited China. We are glad that we had been treated as one of their important delegates and have been invited to stand in the main stage and met a lot of government officials both locally and HKSAR representatives. Also we have the opportunity to join HKSAR Shanghai Economic & Trade Office and Beijing Office in their coming activities so our Hong Kong members have a better chance to explore their opportunities in mainland China.

Peter Choy FCMA and Paul Yeung FCMA

Invitation by PRC Ministry of Trade for CIMA Hong Kong to visit Zhengzhou

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(L to R) Mr Peter Choy, Mr Edwin Yeung, Mr Chen Jian and Mr Tenny Leung

Mr Paul Yeung (L) with Professor Xue Yu Lian (R) of Henan University of Finance and Economics

Trade mission to Liangyungang

The Hong Kong Economic and Trade Office in Shanghai of the Government of the Hong Kong Special Administrative Region organized a Hong Kong business delegation to Lianyungang City, Jiangsu Province from 24 May to 26 May 2007 . I joined the Delegation as the representative of CIMA and would like to share with my fellow members of the knowledge and experience from this visit.

Lianyungang, located in the middle of China east coast and in the northeast of Jiangsu Province, has a total land area of 7,444 square kilometers and water area of 1759.4 square kilometers. Lianyungang Port is one of ten largest ports in China. It is a natural ideal port since it is non-freezing, not silty, deep enough and able to shelter from wind. The port has established navigation relationship with almost 1,000 ports in over 160 countries and regions.

The delegation had a total of 18 representatives from different professions, including delegates from professional institutions/firms, logistic companies, banks and large conglomerates.

On the first day of the visit, we were introduced to the senior officials of the various levels of government authorities: the Secretary of the Communist Party for Lianyungang, the Vice Major of the Municipal Government of Lianyungang, the Director of Lianyungang Foreign Affairs Office and the Vice-Director Chief of Jiangsu Foreign Affairs Office. We were given in-depth introduction about the development of Lianyungang including its technological and economic development zone, transportation network (via ocean, railway, river, road etc.), resources (such as electricity, freshwater, land, solar and wind energy, human resources etc) as well as tourist resort. We were also given comprehensive analyses of the investment environment, opportunities as well as preferential policies for investing in the technological and economic development zone.

On the second day, we had a whole morning discussion session with the relevant leaders of the investment promotion bureau, business promotion bureau, economic and trade bureau etc. about the opportunities of different industries/businesses in Lianyungang. In the afternoon, we went to sight-seeing at the Flower & Fruit Mountain 花果山, the place where the Chinese legendary Monkey King 孫

悟空 was born. This mountain has been appraised as a national 4A grade scenic spot.

With a population of over 4.7 million and as one of the first 14 coastal cities opening to the outside world in China, Lianyungang impressed the Delegation of its predominant location and enormous development potential. We believe that it will become a regional international business center, a beautiful tourist city, a modern communications hub and an international harbor city in the near future.

Irene Cheng ACMA

Mr Gu Jian, Vice-Director Chief, Jiangsu Foreign Affairs Office, Hong Kong and Macau Affairs Division (L) and Ms Irene Cheng (R)

Trade Mission to Lianyungang (連雲港)

Mr Patrick Chan Chi King, Director, Hong Kong Economic and Trade Office in Shanghai, the Government of the Hong Kong Special Administrative Region (L) and Ms Irene Cheng (R)

Good evening, CIMA International President John Coghlan, Mrs Coghlan, Distinguished Guests, Fellow Members and Students, Ladies and Gentlemen. It is a great pleasure to welcome you all to the Spring Dinner of CIMA HK Division.

Although it is a little late but I still wish you all health and success in the Year of the Pig. I know little about the Chinese horoscope and cannot tell fortunes, but to the Chinese mind, the pig is a symbol of good fortune and abundance.

I hope, as the New Year begins, the whole community can embody these characteristics in enjoying wealth and happiness harmoniously in our flourishing economy.

Looking over the past year, we have quite a few things to celebrate –

1) CIMA members and students in Hong Kong have reached the number of 2,000. Tonight we have over 30 Best Award recipients some of them have also achieved International Prize Awards, which demonstrates the standard of Hong Kong students are quite distinguished as compared with other candidates throughout the world.

2) The opening of the CIMA Shanghai Office last August demonstrates the importance of Mainland China to CIMA. The rapid development of the Mainland presents a myriad of opportunities as well as challenges. The fast growing economy in China actually creates a very high demand of qualified accountants. We also understand that other than those practicing accountants which assist Mainland companies to list on the Hong Kong Stock Exchange actually the enterprise also requires Professional Management Accountants like us to assist them in operating their enterprises. We hope with the CIMA Shanghai Office opening that CIMA Hong Kong members can contribute more to our country through this platform.

3) We have also strengthened our ties with other Professional Institutes. In last September we have signed a mutual examination paper exemptions

Welcome Speech Mr Peter Choy Chak WaPresident CIMA HK Division

(MEPE) agreement with The Hong Kong Institute of Certified Public Accountants. The agreement, effective as of 1 July 2006 and in force until 30 June 2011, provides mutual exemptions of examination papers (MEPE) for a member of one body to become a member of the other. We will continue our co-operation with HKICPA to develop more CPD courses on management accounting to members of both Institutes.

4) Under the Chairmanship of CIMA Area Representative Mr Kenneth Chan, CIMA International is now working towards an Asia Pacific Regional Governance Project. This will provide a platform for our members to be directly involved in the governance of the Region. Further details will be given to you all in a later stage.

5) Finally, CIMA has again been deemed a Business Super brand for 2007 by the UK Super brand organization. This is the second time in last three years; CIMA has been recognized as a stand-out brand in the B2B field along with other international brands such as FT, PWC, Shell, Sony and IBM.

Dear Fellow Members with the continued co-operation and support from CIMA International, I can guarantee CIMA Hong Kong Division will continue to give full support to our members and students in both Hong Kong and China.

Finally, I hope you all enjoy your dinner tonight.Thank You

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(L to R) Mr Peter Choy, Honorary Legco Member Ms Mandy Tam and Mr John Coghlan

Spring Dinner and Certificate Presentation Ceremony

Mandarin Oriental Hotel 19 March 2007

A Most Successful Celebration

The CIMA Hong Kong Annual Dinner, arranged at short notice to coincide with the visit on the International President of CIMA, Mr John Coghlan, was a great success. The staff of CIMA office and co-opted help really ‘pulled out all the stops’ for this event.

Attending this event were members, students, local academics and other invited guests. Judging by the enthusiasm with which people joined in the dancing led by the students with Mr and Mrs Coghlan, this was the most lively event yet organised by CIMA Hong Kong. The entertainers kept the momentum going and the singer was popular with all the guests. Dinner was superb and the many table prizes and lucky draw prizes were appreciated by all, even those who were not lucky enough to win.

The speech by our Mr Coghlan was inspirational. The fact that the President is himself from, Ireland, another island division not part of the United Kingdom, resonated with CIMA members and students in Hong Kong. Presentation of certificates and prizes showed that, while the student body is not large, it is very active. Students present obviously enjoyed the celebratory atmosphere and contributed to powerful feeling of the energy built up by CIMA students and members.

Guests expressed their appreciation of the lively atmosphere, as well as the good food, and were happy that they had accepted their invitations to attend. Networking was obviously productive for all concerned, leading to further invitations to further occasions.

Margarret Fidow ACMA

Council Members toasting session to all guests

Jardine trainees support

(L to R) Mrs Joan Coghlan presenting a lucky draw prize to Ms Margarret Fidow

CPD

What can CFOs learn from private equity?

A CPD cocktail and networking session was held at The Ritz Carlton Hong Kong Ballroom on 23 April. Members, students and Passed Finalists began arriving at 6.30pm. The President of CIMA Hong Kong, Mr Peter Choy, warmly welcomed everybody shortly after 7.15pm and introduced the speaker for the evening, Dr Martin Fahy, Director of Development, Asia Pacific CIMA.

Dr Fahy delivered a presentation on the key lessons that CFOs could derive from the private equity model to a captive audience of 45. He explored the uncomfortable messages which private equity firms offer to CFOs who are looking to increase the efficiency and effectiveness of their organizations. Dr Fahy surmised that the private equity model could indeed offer practical suggestions on how to build a leaner organization and make it work when others struggle. He spoke about the primacy of cash flow and managing for value in private equity settings including the role of leverage and the changing nature of capital structure; core and non-core finance activities in the private equity setting; governance arbitrage and other

practical issues.

Judging from the many questions raised during the Q & A session, the audience appeared to find the topic interesting. After a highly interactive session, Dr Fahy thanked everyone for coming and invited them to enjoy the buffet. Following the CPD event, many members requested for Dr Fahy’s presentation slides.

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Doing business in China - a cultural perspective

A joint seminar with CMA Canada on 19 May 2007 attracted a crowd of 228 participants despite a heavy thunderstorm. Guest speaker Mr Paul MP Chan,

Past President and Chairman of Mainland Affairs Committee, HKICPA and Managing Director of PCP CPA Limited presented ‘Doing business in China - a cultural perspective’. Topics include A Nation of Longest Continuous History, Lessons from the History, History in Recent 200 Years, Recent 30 Years, Reform Approach, Geographic Differences, Rural and City Differences, Current State of Poverty, Ownership Structure of the Chinese Economy and Ownership Structure of Businesses. It was really an eye-opener for most of the audiences as Paul shared his own experiences and relevant stories that he gathered over the past years. It is the tip of the iceberg and beneficial to realise that cultural differences do exist amongst the Chinese from different countries. Paul highlighted the following issues in doing business in China: know that its a government led mindset; official support is extremely important particularly for big business or investment; building trust and relationships; beware of the limitation of the system; beware of the protocol; know the power structure; read between the lines and be realistic about what is possible.

Organiser and co-organisers posing with guest speaker Mr Paul MP Chan (5th from left)

Welcome remarks by Mr Peter Choy, President of CIMA Hong Kong

CIMA Finance Transformation seminar

CIMA hosted a Finance Transformation Seminar Luncheon at the Hong Kong Chamber of Commerce (HKGCC) for HKGCC members and CIMA members on 7 June 2007.

The conference room was fully packed with 53 professionals who hailed from varied business, finance and human resource functions across diverse industries including banking, property, energy and IT. Dr Martin Fahy, Director of Development Asia Pacific, CIMA, shared some of his learnings from conversations with CFOs in the region and insights to drive their organisations’ finance development in today’s dynamic business environment. Finance managers are going beyond the traditional role of book keeper to playing a key role in driving shareholder value and steering the organisation forward. This finance transformation has placed increased demands and expectations on finance managers to implement finance development programmes while meeting increased compliance and business partnering pressures.

Dr Fahy summarised the major business pressures of market, technology and society and the key challenges facing CFOs. He spoke about the reality of finance systems and processes, elements of world class finance and finance transformation, finance business partnering, and concluded his presentation with key lessons for CFOs.

Dr Fahy also shared key findings from the CIMA Finance Transformation Asia Pacific survey which he and Christopher Fuller carried out in 2006. Improving the quality of decision support to executives and driving value proactively were rated as the most important challenges currently facing the finance function. Interestingly, reducing costs appear to be less

of a concern for companies in Asia Pacific than their counterparts in EMEA and USA.However, performance management remains the greatest challenge for the finance team followed by driving profitability proactively. Dr Fahy noted that drivers of change behind finance costs are exactly those that make up shared services. These drivers of change include process simplification and standardization, leverage of new technology and re-alignment of the organisation.

Based on the survey findings, the focus of finance improvement also appears to be shifting from transactional operation activities to improving the analytical and more knowledge-intensive activities such as planning, analysis and insight. Better strategic management processes may be the only form of sustainable competitive advantage in the long run.

Dr Fahy concluded his talk with key lessons for CFOs which included managing for value, focusing on execution and effective governance, hiring the best, maximising or ‘sweating’ company assets and making sound decisions on capital allocation.

CPD

HKICPA CPD event

CIMA and HKICPA co-organized a CPD seminar on 8 June 2007 which was delivered by Dr Martin Fahy, CIMA Director of Development Asia Pacific. The seminar was titled ‘What can CFOs learn from private equity?’ Dr Fahy illustrated challenges in the 21st century, the significance of ‘value’, the private equity model, and its strategic-making process in relation to private equity.

HKICPA and CIMA will co-operate to deliver more CPD for members of both bodies in the future, especially after the MEPE (Mutual Examination Paper Exemption) Agreement with CIMA. Should anybody have missed such golden opportunity do keep an eye on our upcoming activities. The next event at HKICPA will be held on the 18th September with Vice President of CIMA, Mr Aubrey Joachim presenting. Keep an eye on the Hong Kong page of the CIMA website for further updates: www.cimaglobal.com/hongkong

(L to R) Mr Gary Wong, HKICPA Director, Member Services; Dr Martin Fahy, CIMA Director of Development, Asia Pacific and Mr Louis Chow, Executive Director, Head of Legal and Compliance, KBC Financial Products who was Chairman for the CPD session.

Dr Martin Fahy, Director of Development, Asia Pacific, CIMA, spoke to a packed room of 53 professionals

Welcome New students

Chan, HeidiChan, Ho Wa Chan, Man Yan Chau, Shu Yan Chen, Yun KaiChiu, Wilson Chong, Siu Wing Chow, Ho Man Choy, Wing Fun De Castro, Steve Fong, Yuk Hang Fung, Ka Kit Ip, Yun Hing Kong, John Kwan, Yuen Yee Emily Lam, Ho Shan Leung, Kam Sing Leung, Yuet Chiu Liu, Chi Sang Ng, Kam FaiOrtega Torrado, Teotiste Polk, Thomas Shoom, Chin Wan Shum, Eve Sit, Hing Ho Tak-ka, Man Tam, Ka Fai Tang, Pak HoTse, Koon Pong Wong, Chi Kwong Wong, Lok Man Anthony Yeung, Chi Tit Zhang, Jing

Congratulations

New Associates

Boyle, Alexander Ng, Yuk Fung Peter Rogers, Stacey Tsang, Hin FaiWu, Yuen Kat Priscilla

New Fellows

Bulmer, Benjamin Cheng, Kam Sing Leung, Tai On

Future events

29 – 31 August CIMA and NZICA Asia /Pacific Business Leaders Conference in Auckland18 September Narrative Reporting by Mr Aubrey Joachim FCMASeptember / October Social Outing5 October Risk and Control Strategy by Mr Anton Fernando 6 -7 October Revision Course for P3 at HKICPA10 October Face-to-face membership assessment for Passed FinalistsNovember Management Accounting in Mainland China by Dr Neale O’ConnorDecember Christmas Party

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Editor’s Note

While our recent batch of students are awaiting their results we need to encourage them to prepare for the next diet. We need to ensure that time is not wasted because the current preparation time is all too short when students wait for results before continuing.

If there are members who would like to contribute to the success of the next generation of CIMA members, then joining the ‘study buddy’ scheme as a mentor would be a valuable contribution because of the wealth of experience possessed by each and every member. Please contact the office if you are interested in contributing a few hours, it is not an onerous commitment and is very flexible.

For more information, please visit www.cimaglobal.com/hongkong

Presidential engagements

9 January Budget consultation for 2007-08 by the Financial Services and the Treasury Bureau

15 January Public Lecture ‘Liberalization of China’s Capital Markets: Achievements and Issues’ by Professor Zhang Weiguo, Chief Accountant and Director General of Department of International Affairs China Securities Regulatory Commission

16 January HKICS (Hong Kong Institute of Chartered Secretaries) Annual Dinner 2007

23 January Council of Hong Kong Professional Associations’ Cocktail Reception: Hong Kong Expert Database

8 February HKIAAT (Hong Kong Institute of Accredited Accounting Technicians) Annual Dinner and Prize Presentation Ceremony

12 February Hong Kong Youth Institute’s Opening Ceremony of Hang Seng Bank Social Entrepreneurial Programme

1 March HKICPA Spring Cocktail Reception

6 March SCAA (The Society of Chinese Accountants and Auditors) Spring Dinner 2007

7 March ACCA (Association of Chartered Certified Accountants) Spring Dinner

16 March Hong Kong Jockey Club (HKJC) Employer’s Federation Spring Lunch 2007

30 March AIA (Association of International Accountants), Hong Kong Branch Annual Dinner 2007

12 April PolyU (Hong Kong Polytechnic University) Outstanding Alumni Award 2007 Presentation Ceremony and Dinner

13 April ITAccountants Association Thank You Dinner

25-29 April PRC Central Government, Ministry of Commerce’s Invitation to attend a conference in Zhengzhou

30 April HKBU (Hong Kong Baptist University) Society of Accountancy Inauguration Ceremony

2007-08

9 May Discussion with SCAA on the National Day cum 10th Anniversary of the Establishment of HKSAR Celebration Dinner

12 June CMABC, Canada - Hong Kong Branch Annual Dinner 2007

21 June Hong Kong Exchanges and Clearing Limited Cocktail Reception

25 June The Hong Kong Economic and Trade Office in Shanghai, Government of the HKSAR cocktail reception cum opening ceremony of a roving exhibition to celebrate the 10th Anniversary of the establishment of the HKSAR

Certificate in Business Accounting (CBA) test dates

CIMA students taking the CBA exam should enrol with the British Council directly. For more details, please contact Ms Clara Chung at +852 2913 5177 or +852 2913 5171

CBA test dates in 2007 for your selection:

http://www.britishcouncil.org/hongkong-exams-professional-and-academic-exams-cima2.htm

9 July

29 October

6 August

3 September

6November

3 December

CPD for members – studying for a Masters Degree

Qualifications play a strong role in the CIMA CPD of-fering. Often members wish to develop vocationally with an additional qualification that is relevant to their specific area of work or general development. CIMA has developed a number of routes to additional qualifica-tions, many of which offer a fast-track route or exemp-tion arrangements for CIMA members based on their CIMA qualification.

MSc Lille, FranceCIMA associate and fellows are required to complete the professional thesis only.

Deakin MBAThe Deakin-CIMA MBA is run in partnership with Dea-kin University, Australia. This MBA programme has been exclusively negotiated to give CIMA members access to a fast-track global MBA programme which is available via a distance learning option to all CIMA members regardless of location. Members do not need to travel to Australia to access this qualification.

Cranfield MBACIMA members can benefit from a new offer which helps towards obtaining an MBA. Cranfield University School of Management, a leading provider of MBA programmes nationally and outside the UK, is offering members scholarships. CIMA members who meet the University’s entry requirements will be eligible to ap-ply for a generous scholarship towards tuition fees – a significant benefit to those managers who are serious about developing themselves and improving existing performance at work.

For more information on how to access these offers, log on to the CIMA website CPD Centre: www.cimaglobal.com/CPD

Blending of business worlds

ASIA PACIFIC BUSINESS LEADERSCONFERENCE –

About the conference

The businesses of the Asia Pacific are as diverse

as the region itself, with its dazzlingly wide range

of economies, cultures and societies. Those that

succeed on the world stage have one thing in

common; superb business leadership.

Business leaders from around the Asia Pacific

region are invited to join their peers in Auckland,

New Zealand, to share experiences, listen to

thought-provoking addresses from senior business

and political leaders and commentators, and

exchange ideas for business leadership excellence

and business growth.

CIMA, the Chartered Institute of Management

Accountants, and the New Zealand Institute of

Chartered Accountants are proud to be co-hosting

the first Asia Pacific Business Leaders Conference

in New Zealand.

From managing for innovation and creativity to

leadership in finance; from business ethical

dilemmas to a global economic update; this

conference has something for every business leader.

Register today to be part of this landmark event:

www.nzica.com/asiapacific2007

Proudly sponsored by Gold Business Partners of theNew Zealand Institute of Chartered Accountants

Co-hosts

the power of financialmanagement in business

Auckland, 29-31 August 2007