The company announced it expects a decrease in net profit for 2014 compared to 2013 due to an impairment loss of goodwill and intangible assets relating to its internet lottery distribution services in China. This business unit suspended operations in March 2015 due to new Chinese regulations. Additionally, the company will deconsolidate one of its subsidiaries in China engaged in internet lottery distribution and treat it as a long-term investment due to losing control over its activities. The financial effects are not expected to be material and results for 2014 are pending finalization and audit. Shareholders are advised to exercise caution trading company shares.
2015 onwards, Annual Returns of ROC have become complicated, cumbersome and detailed. Annual Return itself requires lot many information. Board's Report is required to be supported by number of annexures. An attempt has been made to go through the technicalities.
FAQ ON FORMS under Indian Companies Act, 2013Ajay Garg
Forms have become alphanumeric. Format are prescribed. Time limits are different for different forms. Things have become bit complicated. An attempt has been made to decode all the comlicacies
Companies Act 2013 AOC 4 - Presented to Institute of Company Secretaries Of ...SAS Partners
Definition of Financial Statement
Definition of financial year.
Books of Accounts etc., to be kept by the company.
Financial Statement
Central Government to prescribe Accounting Standards
Financial Statement, Board’s report, etc.,
Corporate Social Responsibility
Right of members to copies of financial statements.
Copy of financial statement to filed with the Registrar
Powers of the Board.
Compounding of offence – u/s 92 (5), Not yet enforced
Section 621A of the Companies Act, 1956.
Punishment for fraud
Punishment for false statement.
Inactive and Dormant Company
2015 onwards, Annual Returns of ROC have become complicated, cumbersome and detailed. Annual Return itself requires lot many information. Board's Report is required to be supported by number of annexures. An attempt has been made to go through the technicalities.
FAQ ON FORMS under Indian Companies Act, 2013Ajay Garg
Forms have become alphanumeric. Format are prescribed. Time limits are different for different forms. Things have become bit complicated. An attempt has been made to decode all the comlicacies
Companies Act 2013 AOC 4 - Presented to Institute of Company Secretaries Of ...SAS Partners
Definition of Financial Statement
Definition of financial year.
Books of Accounts etc., to be kept by the company.
Financial Statement
Central Government to prescribe Accounting Standards
Financial Statement, Board’s report, etc.,
Corporate Social Responsibility
Right of members to copies of financial statements.
Copy of financial statement to filed with the Registrar
Powers of the Board.
Compounding of offence – u/s 92 (5), Not yet enforced
Section 621A of the Companies Act, 1956.
Punishment for fraud
Punishment for false statement.
Inactive and Dormant Company
Provisions of companies act 2013 for accounting, books of accounts, financial statements, appointment of auditor, rotation of auditor, liabilities of auditors etc
Key Takeaways:
- What is Single Master Form
- Registration in FIRMS Portal
- Structure of FC-GPR
- Procedures and documents required
- Reason for rejection of form
Companies Act, 2013 - Chapter X - Audit and AuditorsSASPARTNERS
A detailed presentation prepared by SAS Partners Team which gives an insight into the provisions of Chapter X relating to Audit & Auditors. This Chapter has undergone a sea of changes with new concepts introduced. This presentation will prove to be beneficial for the Corporate, Professionals & Students and will give a birds eye view of the provisions and concepts.
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Changes in appointment of managing director under the provisions of Companies Act, 2013 - Dr S. Chandrasekaran - Article published in Business Advisor, dated November 25, 2014 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Provisions of companies act 2013 for accounting, books of accounts, financial statements, appointment of auditor, rotation of auditor, liabilities of auditors etc
Key Takeaways:
- What is Single Master Form
- Registration in FIRMS Portal
- Structure of FC-GPR
- Procedures and documents required
- Reason for rejection of form
Companies Act, 2013 - Chapter X - Audit and AuditorsSASPARTNERS
A detailed presentation prepared by SAS Partners Team which gives an insight into the provisions of Chapter X relating to Audit & Auditors. This Chapter has undergone a sea of changes with new concepts introduced. This presentation will prove to be beneficial for the Corporate, Professionals & Students and will give a birds eye view of the provisions and concepts.
Changes in appointment of managing director under the provisions of Companies...D Murali ☆
Changes in appointment of managing director under the provisions of Companies Act, 2013 - Dr S. Chandrasekaran - Article published in Business Advisor, dated November 25, 2014 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
A Defense of Ethical Relativism. Ruth Benedict (1934) Retrieved f.docxevonnehoggarth79783
A Defense of Ethical Relativism. Ruth Benedict (1934) Retrieved from
http://public.callutheran.edu/~chenxi/Phil315_031.pdf
Debate: Moral Relativism v. Moral Absolutism (Video Series)
http://www.youtube.com/watch?v=1YV19W6he6M
http://www.youtube.com/watch?v=5eyDFXikCq0
http://www.youtube.com/watch?v=1BGg6NHYPpE
http://www.youtube.com/watch?v=VkTYrqdRA90
http://www.youtube.com/watch?v=cXTMEJbfv9Y
http://www.youtube.com/watch?v=8OrCtYW6HUw
Moral Relativism from Stanford Encyclopedia of Philosophy Retrieved from
http://plato.stanford.edu/entries/moral-relativism/
GuideToUseOfWorksheetsGuide To Use of Worksheets following the sequence of pages of the complete reports and financial statements for a non-private entity with a subsidiary company in MalaysiaName of worksheetPage No. as shown in Table of ContentsThe Cover PageClick HereMAINDOCUMENTSNot applicableThe Cover Page for copy to be lodged with Companies Commissions of Malaysia (previously Registrar of Companies)Click HereMAINDOCUMENTSNot applicableTable of ContentsClick HereMAINDOCUMENTSDirectors' reportClick HereMAINDOCUMENTS1 - 3Statement by directors and statutory declarationClick HereMAINDOCUMENTS4Auditors' report first pageClick HereAuditorsReportPg55Auditors' report second pageClick HereAuditorsReportPg66CONSOLIDATED STATEMENT OF FINANCIAL POSITIONClick HereMAINDOCUMENTS7CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEClick HereMAINDOCUMENTS8CONSOLIDATED STATEMENT OF CHANGES IN EQUITYClick HereMAINDOCUMENTS9CONSOLIDATED STATEMENT OF CASH FLOWS PAGE 1Click HereMAINDOCUMENTS10CONSOLIDATED STATEMENT OF CASH FLOWS PAGE 2Click HereMAINDOCUMENTS11STATEMENT OF FINANCIAL POSITIONClick HereMAINDOCUMENTS12STATEMENT OF COMPREHENSIVE INCOMEClick HereMAINDOCUMENTS13STATEMENT OF CHANGES IN EQUITYClick HereMAINDOCUMENTS14STATEMENT OF CASH FLOWS PAGE 1Click HereMAINDOCUMENTS15STATEMENT OF CASH FLOWS PAGE 2Click HereMAINDOCUMENTS16NOTES TO THE FINANCIAL STATEMENTSSIGNIFICANT ACCOUNTING POLICIES (Comprising Basis of Preparation, Standards, and Interpretations)Click HereMAINDOCUMENTS17 - 19SIGNIFICANT ACCOUNTING POLICIES (Comprising Basis of Consolidation & Goodwill)Click HereMAINDOCUMENTS19 - 20SIGNIFICANT ACCOUNTING POLICIES (Comprising Investments, Property, Plant, and Equipment and Depreciation, Financial Assets)Click HereMAINDOCUMENTS20 - 21SIGNIFICANT ACCOUNTING POLICIES (Comprising Financial Liabilities, Offsetting Financial Instruments, & Impairment of Financial Assets)Click HereMAINDOCUMENTS21 - 22SIGNIFICANT ACCOUNTING POLICIES (Impairment of Non-Financial Assets, Income Taxes, Revenue Recognition, & Foreign Currency Transactions and Balances)Click HereMAINDOCUMENTS23 - 24SIGNIFICANT ACCOUNTING POLICIES (Employee Benefits, Leases, Segment Reporting, Contingencies, & Financial Risk Management Policies)Click HereMAINDOCUMENTS24 - 25SIGNIFICANT ACCOUNTING POLICIES (Comprising Critical Accounting Estimates, Judgments, and Key Sources of Estimation Uncertainty ) and NOTE ON PROPERTY, PLANT, AND EQU.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
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India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
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"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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1. - 1 -
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited
take no responsibility for the contents of this announcement, make no representation as to its
accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever
arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Bermuda with limited liability)
(Stock code: 555)
PROFIT WARNING
AND
INSIDE INFORMATION
This announcement is made by REXLot Holdings Limited (the “Company”, together with its
subsidiaries, the “Group”) pursuant to Rule 13.09(2) of the Rules Governing the Listing of
Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions
under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong).
IMPAIRMENT LOSS OF GOODWILL AND INTANGIBLE ASSETS
The board of directors of the Company (the “Board”) wishes to inform the shareholders of the
Company (the “Shareholders”) and potential investors that, based on the preliminary assessment
of the unaudited consolidated management accounts of the Group for the year ended 31
December 2014, it is expected that the Group may record a decrease in net profit for the year
ended 31 December 2014 as compared to the net profit of the Group for the year ended 31
December 2013. The decrease in net profit of the Group is primarily attributable to the
impairment loss of goodwill and intangible assets, which relate to the Group’s operating unit
engaged in the internet lottery distribution services in China. The goodwill and intangible assets
of this operating unit as at 31 December 2013 were approximately HK$726,530,000 and
HK$143,169,000 respectively.
Pursuant to the “Circular on Self-examination and Self-correction on Unauthorized Lottery Sale
on the Internet 《關於開展擅自利用互聯網銷售彩票行為自查自糾工作有關問題的通知》”
(the “Circular”) jointly issued by the Ministry of Finance and the Ministry of Civil Affairs and
General Administration of Sport of China in January 2015, a self-inspection program was carried
out by provincial lottery centers in China. As a result, the Group’s internet based lottery
2. - 2 -
distribution unit has temporarily suspended its internet lottery distribution services effective from
March 2015 (the “Suspension”). It is uncertain when the operation of the Group’s internet based
lottery distribution unit will resume. However, the Suspension does not affect the distribution of
lottery tickets through any other distribution channels within the Group. The Group is closely
monitoring the development in relation to the Suspension and will disclose relevant information
as and when appropriate.
Due to the above reason, the Directors consider that it is necessary to evaluate the goodwill and
intangible assets in relation to operating unit of the internet lottery distribution and the Board has
resolved to make provision for impairment loss of goodwill and intangible assets for the year
ended 31 December 2014.
DECONSOLIDATION OF A SUBSIDIARY
Having regard to the recent developments affecting the lottery market and the internet lottery
distribution in China, including the issuance of the Circular and the Suspension, the Board
decided that it is appropriate at this time to assess the Group’s control over one of its indirectly
non-wholly owned subsidiaries that was established in the People’s Republic of China in
September 2013 (the “PRC Company”). The PRC Company is principally engaged in the
provision of internet lottery distribution services in China.
The management is of the view that in practice, the Group no longer has the ability to unilaterally
direct the relevant activities of the PRC Company. Hence, the Board has resolved to
deconsolidate the PRC Company and treat it as a long term investment of the Group.
The PRC Company will be reclassified as an available-for-sales financial asset in the Group’s
consolidated management accounts from 1 January 2014 onwards. The Company has considered
the adjustment that would have been made to the Group’s consolidated management accounts for
the year ended 31 December 2013, and concluded that the financial effect of those adjustments
would be immaterial. The Board has therefore resolved to reclassify the PRC Company as an
available-for-sales financial asset from 1 January 2014 onwards rather than to make
corresponding adjustments.
The PRC Company remains a long term investment of the Group.
The Company is still in the process of finalizing the annual results of the Group for the year
ended 31 December 2014. Information contained in this announcement is only based on the
Board’s preliminary review of the unaudited consolidated management accounts of the Group for
the year ended 31 December 2014, which have not yet been audited and confirmed by the
3. - 3 -
Company’s auditor. Shareholders and potential investors are advised to read carefully the results
announcement of the Company for the year ended 31 December 2014, which is expected to be
published on 31 March 2015.
Shareholders and potential investors are advised to exercise caution when dealing in the
shares of the Company.
By Order of the Board
Ng Yuen Yee
Company Secretary
Hong Kong, 28 March 2015
As at the date of this announcement, the Board comprises two executive directors namely Mr.
Chan How Chung, Victor and Mr. Boo Chun Lon and three independent non-executive directors
namely Mr. Yuen Wai Ho, Mr. Chow Siu Ngor and Mr. Lee Ka Lun.