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Archive for July 19th, 2011

COSTIN Completes the Issue of US$30 Million Convertible Bond to CITIC Capital China Access Fund Limited

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PRNewswire-Asia/ — COSTIN New Materials Group Limited (“COSTIN”, together with its subsidiaries, the “Group”, stock code:, which is principally engaged in the research and development, production and sales of non-woven materials and recycled chemical fibres, is pleased to announce today that it has completed the issue of a US$30 million (approximately HK$233 million) convertible bond to CITIC Capital China Access Fund Limited, an investment fund managed by a subsidiary of CITIC Capital Holdings Limited.

Mr. Chim Wai Kong, Chairman and Executive Director of COSTIN said that: “We are delighted that we have completed the issue of the convertible bond to CITIC Capital China Access Fund Limited and have it as our new investor. The net proceeds will be used for capital expenditure and working capital to accelerate the development of the Group*s key businesses and enhance our overall market presence. We believe the future conversion of the convertible bond will help diversify and strengthen our shareholder base.”

The convertible bond will be due in 2013 and bears the interest rate of 4% per annum. The initial conversion price of the convertible bond is HK$5.15 per share, representing a premium of approximately 2.79% to the closing share price of HK$5.01 on 7 July 2011, or a premium of approximately 12.20% to the average closing share price of $4.59 for the last 20 consecutive trading days up to 7 July 2011.

About COSTIN New Materials Group Limited

With production centre in Jinjiang, Fujian Province and headquarters in Hong Kong, COSTIN is principally engaged in the research and development, production and sales of non-woven materials and recycled chemical fibres which are mainly for industrial applications. The advanced production facilities backed by strong technical know-how and impressive economies of scale give the Group a huge competitive edge for producing high quality products customised to meet specific customer needs, including non-woven materials with liquid repellent, anti-bacterial, aroma, oil-resistant and thermal resistant functions.

About CITIC Capital Holdings Limited

Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company engaging in Private Equity, Real Estate, Structured Investment and Finance and Asset Management. It is owned by China Investment Corporation, China’s sovereign wealth fund, and CITIC Group, the largest Chinese conglomerate, through its CITIC International Financial Holdings Limited and CITIC Pacific Limited subsidiaries.

Media contact:
Mr. Eric Yip
Tel: +852-2117-0861 / +852-9621-5918

Written by asiafreshnews

July 19, 2011 at 10:49 am

Posted in Uncategorized

Global Reputation Experts Leslie Gaines Ross and Mark Devadason to Lead 2011 Corporate Affairs Forum

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PRNewswire-Asia/ — Global reputation strategist Leslie Gaines Ross and Standard Chartered Bank’s global corporate affairs chief Mark Devadason are to lead a high profile group of speakers at the 2011 PublicAffairsAsia Corporate Affairs Forum.

The theme of the interactive full-day forum is “The Reputation Agenda: Building – Safeguarding – Defending”. The timely event, which is designed for senior corporate communications, public affairs and government relations practitioners, will examine how to develop and implement effective corporate reputation strategies in Asia Pacific.

The forum comes as multinational corporations, governments, SOEs and NGOs come under intense scrutiny as they seek to develop, and maintain, their wider license to operate among regulators, the media, employees, governments and the public at large.

Commenting on the 2011 Forum, PublicAffairsAsia’s vice president Mark O’Brien said: “Corporate reputation is vital to the development of multinational corporations in the rapidly developing markets of Asia Pacific. But in an age of social media, diffuse stakeholder relationships and complex governmental and regulatory systems, building and defending reputation requires top-level engagement and significant corporate resources. This forum will equip managers with the insight and case studies to set about this task.”

The high-level conference — which is limited to just 85 participants to ensure seniority and interactivity — takes place on October 6, 2011 at The Marina Mandarin Hotel in Singapore and is supported by lead sponsor Weber Shandwick and lead partner AmCham Singapore.

Gaines Ross, the Chief Global Reputation Strategist at Weber Shandwick, will open the forum by examining the key drivers and threats to corporate reputation: setting out how multinationals can build, maintain and defend their all-important reputation in Asia Pacific’s diverse markets.

Devadason, the Group Head of Regions Corporate Affairs at Standard Chartered Bank, leads the company’s worldwide public and corporate affairs and was formerly CEO for the bank in both Japan and Thailand. He will examine how as reputational ambassadors, CEOs can utilise corporate affairs strategies to enhance their firm’s reputation among influential stakeholder groups.

Issues to be addressed at the 2011 Corporate Affairs Forum include building and defending corporate reputation among key influencers, internal stakeholder relations, the impact of social media, CSR, crisis communications, reputation and the law. Case studies will be presented by executives from multinationals including The Ford Motor Company and BASF.

Speakers, panelists and moderators include Stephen Crisp, Global Head of Public Affairs and Public Policy, Nokia Siemens Networks, Dr Mark Michelson, Chairman, the IMA Group Hong Kong, Counsellor APCO Worldwide and Joe Welch, Senior Vice President, Government Relations, News Corporation.

Other speakers include Peter Witton, Habitat for Humanity’s Director of Communications in the Asia-Pacific region, Christian Schubert, Vice President of Corporate Communications at BASF, Whitney Foard Small, Regional Director for Communications in Asia, the Pacific and Africa, The Ford Motor Company, Steven R. Okun, Director of Asia Pacific Public Affairs, KKR, Craig Hoy, Executive Director, PublicAffairsAsia, Evan Lewis, Vice President of Communications, Accor and Junie Del Mundo, CEO of EON, The Stakeholder Relations Firm.

Plus participants will also hear from Rachel Catanach, Vice President and General Manager, Fleishman-Hillard, Hong Kong, Bev Postma, Executive Director of Food Industry Asia, Steven Liew, Senior Director of Government Relations & Legal Counsel – Asia Pacific, eBay Inc, Mark Chong, Associate Professor of Corporate Communications, Singapore Management University and Andy Woolnough, Vice President of Corporate Communications, Weber Shandwick.

Top-tier speakers also include Janice Armstrong, Regional Director, Government and Public Affairs, Asia Pacific, at GlaxoSmithKline, Neena Moorjani, Director, Media & Public Relations, Asia, Pfizer and Stephen Lock, regional PA lead, Edelman South East Asia.

Delegate places for the 2011 Forum are currently available at the partner rate of US$1,200 and the full rate of US$1,600 and can be booked by emailing ). Full details on the 2011 programme, speakers and themes can be found at

About PublicAffairsAsia:

PublicAffairsAsia is the network for senior government relations, public affairs and corporate communications professionals operating across the Asia Pacific region. It offers news, features, analysis and intelligence on practice and policy through PublicAffairsAsia magazine, online channels, intelligence and events. For more information, to REGISTER, or SUBSCRIBE: visit PublicAffairsAsia also operates the flagship Gold Standard Awards for public policy and communications: more at

About Weber Shandwick — lead sponsor:

Weber Shandwick is a leading global public relations agency with offices in 74 countries around the world. The firm’s success is built on its deep commitment to client service, our people, creativity, collaboration and harnessing the power of Advocates – engaging stakeholders in new and creative ways to build brands and reputation. Weber Shandwick provides strategy and execution across practices such as consumer marketing, healthcare, technology, public affairs, financial services, corporate and crisis management. Its specialized services include digital/social media, advocacy advertising, market research, and corporate responsibility. In 2010, Weber Shandwick was named Global Agency of the Year by The Holmes Report for the second year in a row; an ‘Agency of the Decade’ by Advertising Age, Large PR Agency of the Year by Bulldog Reporter, a Digital Firm of the Year by PR News, and Top Corporate Responsibility Advisory Firm by CR Magazine. The firm has also won numerous ‘best place to work’ awards around the world. Weber Shandwick is part of the Interpublic Group( ) (NYSE: IPG). For more information, visit or

About AmCham Singapore — lead partner:

AmCham Singapore is one of the largest American chambers outside the U.S., one of the largest American chambers in ASEAN and the largest foreign business chamber in Singapore. We are also one of the most influential chambers and represent an estimated US$25 billion of investments in Singapore and the region. Our 4,000 members represent more than 650 companies. With more than 250 business events per year, and 13 industry-focused committees, AmCham will help you gain invaluable insights into doing business in Asia.

Media Contact:

Mark O’Brien
+852-2251-1511 begin_of_the_skype_highlighting +852-2251-1511

Written by asiafreshnews

July 19, 2011 at 10:04 am

Posted in Uncategorized

China Launch – Books on Corruption, Fraud & Economic Crime

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2011-07-15 09:00 


Author Nihal Sri Ameresekere, FCA, FCMA, CMA, CFE

COLOMBO, Sri Lanka, July 15, 2011/PRNewswire-Asia/ — At the 3rd Seminar of the International Association of Anti-Corruption Authorities (IAACA) held in Shanghai on July 3 – 6, 2011, Sri Lanka’s leading public interest activist, Nihal Sri Ameresekere, FCA, FCMA, CMA, CFE, launched the following six Books on combating corruption, fraud and economic crime. Ameresekere having released in Washington, New York, Miami and Los Angeles, five Books in May 2011, released in Shanghai his 6th Book titled – ‘Fiscal Mismanagement – Lack of Public Accountability’. He announced that the next Book on the ‘United Nations Convention Against Corruption’ would be released shortly. The Books are published and marketed by US Publisher, AuthorHOUSE.

  1. “IMF, World Bank & ADB Agenda on Privatisation – Sri Lanka Insurance Privatisation, handled by PricewaterhouseCoopers and Ernst & Young – Annulled as Unlawful & Illegal by Supreme Court” — Author reveals absence of law enforcement, disclosing also the conduct of Chamber of Commerce and Chartered Accountants’ Institute
  1. “Transparency & Public Accountability – Fiscal Mismanagement & Lack of Public Accountability – Case Study – Sri Lanka, a Country under the Purview of IMF, World Bank, ADB” — Author deals with Constitutional mandates and social contract, rule of law and Attorney General and judiciary
  1. “Derivative / Hedging Deals by Citibank, USA, Standard Chartered Bank, UK, Deutsche Bank, Germany, with Sri Lanka Government’s Petroleum Corporation – Dubious & Illegal?” — Author deals with unequal treatment before the law, raising issues of contempt of court and judicial bias
  1. “Colombo Hilton Hotel Construction – Fraud on Sri Lanka Government – Sri Lanka’s First Derivative Action in Law” — (Reported in Commonwealth Law Reports 1992) involving Mitsui & Co. Ltd., Taisei Corporation and Yozo Shibata Associates Architects, all of Japan, with KPMG Ford Rhodes Thornton & Co., as Auditors
  1. “IMF, World Bank & ADB Agenda on Privatisation – Colombo Port Bunkering Privatisation – Annulled as Illegal & Fraudulent by Supreme Court” – involving UN Global Compact Company — Author reveals the subsequent Judgments of a 7 Judge Supreme Court Bench, shockingly disclosing 2 material pages of a dissenting Judgment having been deleted by cannibalization
  1. “IMF, World Bank & ADB Agenda on Privatisation – Pillage of the Plantations in Sri Lanka” — Author deals with absence of accountability and rule of law

Dr. Ye Feng, Secretary General of IAACA had endorsed that — “IAACA was pleased that one of its Members, Nihal Sri Ameresekere, in keeping with the objectives of IAACA, had taken a step to author and publish a series of Books, dealing with real case studies in combating the global cancerous menace of economic fraud and corruption, which threatens good governance and the well being of people. The contents of this series of Books would, no doubt, be of material relevance and of educational value to anti-corruption authorities globally.”

The UN Convention Against Corruption was adopted by the General Assembly in October 2003, and came into force in December 2005, upon the ratification by 30 countries. Today 152 countries have ratified the UN Convention. The UN Convention deals with combating corruption, fraud and economic crime, in the public and private sectors.

To promote and facilitate the implementation of the UN Convention, IAACA was inaugurated in Beijing in October 2006 as an international organization. At IAACA’s inauguration, over 900 delegates from international anti-corruption authorities and others involved in combating fraud and corruption from 137 countries, and over a dozen international organizations participated.

Dimitri Vlassis, Chief, Corruption & Economic Crime Division, United Nations Office on Drugs & Crime (UNODC) at the 3rd IAACA Seminar in Shanghai in July 2011, as reported in China Daily had reiterated — “Since its inception in Beijing in October 2006, the IAACA has worked to promote the effective implementation of the United Nations Convention Against Corruption, leading to closer international cooperation. Now, more than ever, it is necessary to join forces to face common challenges, to constantly adapt to the sophisticated nature of corruption and the inherent difficulty of finding the most appropriate ways to fight it.”

Ameresekere also made a presentation on July 8, 2011 to the highly respected and reputed, Independent Commission Against Corruption (ICAC) in Hong Kong. He was received by ICAC’s Executive Director, Gerry Osborn and its head, Commissioner, Dr. Timothy H.M. Tong, to whom Ameresekere presented a set of Books. These Books are to be included in the prestigious Library of the ICAC, which is regularly visited by international fraud and economic crime investigation organizations.

The United States Association of Certified Fraud Examiners’ President & CEO, James D. Ratley has also commended Ameresekere’s Books — “I am amazed at the amount of effort and research that it must have taken to write these important works. We are adding these to our Fraud Library here at the ACFE Headquarters in Austin, Texas. They are a worthy addition to our library. It is heartening to know that we have members such as you, who give of their time and talents in the ongoing fight against fraud and corruption.”

Books are available from Publishers, AuthorHOUSE US & UK,, and internationally from leading E-Retailers. More


SOURCE Consultants 21 (Publications) Ltd.

Written by asiafreshnews

July 19, 2011 at 10:01 am

Posted in Uncategorized