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ACCOUNTING firms auditing overseas-listed Chinese companies are keeping a close eye on a draft regulation released by China’s finance ministry on April 29 which would restrict the roles that foreign auditors can play in this work.

This ‘Accounting Firms Cross-border Auditing Service Temporary Regulation’ would prevent accounting firms registered outside mainland China from carrying out au­dits alone for Chinese overseas-listed enterprises, in­cluding overseas listed enterprises with operat­ions in China.…

SINGAPORE and the United States have negotiated an agreement that will force Singaporean financial institutions to declare money held in the city state by American citizens and residents. The deal will help Singapore comply with the US Foreign Account Tax Compliance Act (FATCA), which says all financial institutions outside the USA must regularly submit such information to the US Internal Revenue Service (IRS).…

Extreme weather events in 2013 were plentiful in the Asia-Pacific region – increasing demand for high performance coatings. Typhoons and cyclones brought devastation to parts of the central Philippines with typhoon Haiyan, while India was hit by Phailin, the second strongest tropical cyclone to strike the country since accurate meteorological records began.…

MANY textile brands now make claims of operating with varying levels of environmentally mindful or sustainable practices. The benefits allow companies to chime with the corresponding growing interest among consumers; the risks are equally significant, as gaining a reputation for ‘greenwashing’ – falsely claiming a product or process is ‘green’ – can be significantly damaging to a company’s public image.…

IN the past year, several developments – both new and built on previous initiatives – have emerged, suggesting the apparel and textile industry is continuing to move towards a more sustainable supply chain.

A key move was the publication of Version 4.0, of the Global Organic Textile Standard (GOTS), released by the GOTS International Working Group, in March (2014).…

MYANMAR appears set to become a major outsourcing destination among Hong Kong garment companies, with a deal signed last week to set up a 2,400 hectare apparel industrial park in the Yangon region’s Thilawa Special Economic Zone (SEZ).

The vice-chairperson of Myanmar Garments Manufacturer’s Association (MGMA), Dr U Aung Win, told just-style that a delegation from Hong Kong signed a contract to set up the apparel industrial park at the Union of Myanmar Chamber of Commerce and Industry (UMFCCI) in Yangon on June 13.   …

The concept of closed loop supply chains sounds a laudable, if possibly Utopian, ideal: a virtuous circle of production from cradle – not to grave – but back to cradle again.

Right now, no company comes near to claiming that its whole production process not only produces zero waste, but operates within a cycle of perpetual sustainability.…

There is nothing better for a financial professional to oversee the transformation of an innovative company from a small scrapper to a big player – and ACCA qualified Australia-based Paula Kensington knows how this feels.

She is CFO of Rubik Financial – a Sydney-based provider of banking software – whose revenue since the end of 2011 has increased by 200% and its share price multiplied, driving market capitalisation exceeding Australian dollar AUD150 million (USD140.39 million).…

INSIDER trading –and enrichment by officials – is a key reason why the Shanghai stock exchange remains stuck in a funk, underperforming in China’s overall economy for most of the past decade. “They [bureaucrats] are promoted on political criteria, not commercial…they don’t always have shareholders’ interests at heart,” explained Michael Komesaroff, principal of Urandaline Investment, an Australia-based consultancy working on outbound investment deals involving Chinese state-owned firms.…

A major Chinese clothing and textile company has told just-style that the upcoming Trans-Pacific Partnership (TPP) trade deal is a key reason for a planned investment in Vietnam. In early March, (2014), northern Nam Dinh province, near Hanoi, issued an investment licence for the Jiangsu Yulun Textile Group to build a factory of fabric, textile, dying with total registered capital of USD68 million.…