42 Acquisition International - March 2017 KLC is a leading Chinese accounting practice operating in Hong Kong. We profile the firm to explore the secrets behind its success, following their being selected to receive the Small Business Achievement Award (Hong Kong). ince its inception in 1985, KLC has grown from a small CPA practice firm with two staff, into a dynamic and recognized professional firm with 8 directors and principals and with around 60 staff including over 25 professionally qualified personnel, that prides itself on high quality and personal services. The firm has gained recognition across Hong Kong and China for its forensic accounting, corporate recovery and restructuring and financial advisory services. In addition, KLC also offers a comprehensive range of other services including due diligence and assurance; internal control reviews; taxation; and company secretarial services. KLC has been qualified and admitted to the Administrative Panel of Insolvency Practitioners for Court Winding-Up (APIPCW) established by Official Receiver’s Office since inception in 1996. There were 13 firms on the APIPCW list when it was established in 1996 and 14 firms are listed currently. KLC has had numerous appointments in Liquidation and/or Receivership cases for insolvent companies operating in Hong Kong, PRC, Korea and US. In its services of Corporate Recovery/ Restructuring, KLC assists clients survive financial stress to return to profitable operations. Advice includes corporate restructuring; debt restructuring; and selling all or part of the business as a going concern; or develop plans to protect the rights of all stakeholders and aid financial recovery. Services include inter-alia: adjudication; asset recovery; bankruptcy; business and asset realisation; business and solvency reviews; corporate insolvency; corporate rescue and restructuring; creditors’ claims and receiverships. In the forensic accounting area, KLC has investigative vigour and accounting expertise, enabling the firm to discover facts and report complex financial issues to litigants, counsel, judges and juries. KLC specialists examine business records, reconstruct books and rigorously interview relevant parties. Through the dedication and expertise of its staff, the firm is able to uncover facts to determine whether financial fault or misdemeanours occurred; how long it has existed; how it was concealed; and the financial impact of these. KLC are also able to quantify losses from fraud, assisting strategic recovery, litigation and insurance claims. One notable case involved missing assets of a complex network of companies operating in Hong Kong, USA and Taiwan. KLC provided services in Forensic Accounting, Investigation and as Witness on missing assets. As a result of the firm’s hard Company: KLC Corporate Advisory and Recovery Limited Address: 5/F, Ho Lee Commercial Building, 38-44 D’Aguilar Street, Central, Hong Kong Phone: (852) 2868 3330 Email:
[email protected] Web: www.klccpa.com Financial Advisory Services for Success S work and tenacity their client was awarded return of USD 400-500 million of assets by the courts in 2012. Another key sector in which the firm excels is litigation support. Their investigation and dispute services team offers specialist litigation services in cases of fraud occurring due to improper conduct of fiduciary responsibilities. As part of its service offering, KLC makes a thorough analysis of cases and detailed investigation whilst maintaining absolute confidentiality for the client’s protection. KLC guides clients and legal counsel through all phases of cases by providing informed analysis with quantification of potential damages, and provides independent advice on all financial issues. KLC focuses on offering advice or expert witness testimony; asset tracing, retrieval and realization; business and accounting record reconstruction; business and asset valuations; contract disputes and insurance claims; damage or loss determination; director’s and auditor’s negligence cases; marital dissolution matters; money laundering investigations; as well as solvency reports. Through its work in these areas KLC has been involved in a many notable cases, which have required the company to trace and recover assets, and investigate complicated commercial disputes involving corporate fraud and matrimonial dealings. In the Corporate Finance and Due Diligence services provided, KLC’s experienced team has strong relationships in HK/PRC and other Asian markets with wide ranging expertise to assist clients in areas such as determining appropriate funding requirements. KLC is keen to offer tailor- made solutions to achieve business objectives. KLC services include inter -alia: pre-financing due diligence; post mandate due diligence and documentation; targets markets / customers; fund raising road show and overall management; due diligence; pre-IPO restructuring; business plans; recommend strategic and/ or financial investors/ sponsors/ directors. Lastly, a great additional strength of KLC is in its affiliate network. In 32 years of operation given the necessity to deal with and meet cross border businesses, KLC has established a close-knit Asian network in 11 countries (Australia, Cambodia, Japan, Korea, Laos, Malaysia, New Zealand, Philippines, Singapore, Thailand and Vietnam) with over 70 offices covering more than 70 cities, excluding Greater China. In Greater China, KLC has an exceptionally strong network with formal associates providing innovative solutions to its clients. KLC’s extensive China network brings together over 4,000 professional staff, including over 1,500 CICPAs, throughout 59 cities. Above: Mr. Kennic L. H. Lui BCom (NZ), CAANZ, FCPA (Practising) (HK), ACA (England and Wales), CFE (US) Founder and Senior Managing Director of KLC Corporate Advisory and Recovery Limited