Kuala Lumpur Singapore North Asia

www.compasscva.com

Contents 02 Our World 04 Corporate Finance 05 Expert Valuation Advisory 08 Risk Management Group 10 Technology Review And Advisory 11 Strategic Corporate Advisory

Our World Compass Consulting Group is a specialist advisory firm with presence across Asia Pacific and Greater China offering our portfolio of clients financial and corporate advisory and transaction support services in the form of: Corporate finance advisory Expert valuation advisory supporting corporate transactions and financial reporting Risk management advisory Due diligence (financial, technical, operational and management) reviews supporting corporate finance and valuation Technology review and advisory Strategic corporate advisory Our Window Of Exchange We have advised many cross border corporate transactions. Our expertise and corporate network offers a bridge and exchange platform of choice for financial and corporate opportunities between Asia Pacific and Greater China Our Regional & Industry Experience Our team of engagement partners and staff is equipped with considerable experience in financial and corporate advisory and transaction support capability across industry sectors such as: Biomedical and biotechnology Pharmaceutical Nutraceutical and cosmoceutical Information and communication technology (ICT) Infrastructure Fast moving consumer good (FMCG) Education and e-learning Aviation Green Technology Agriculture Food and beverage Hospitality Energy (including oil and gas and biofuel) Financial institution and intermediary Electronics design and manufacturing Our client portfolio spans across Asia Pacific and Greater China comprising public listed companies, government linked investment funds and companies including successful medium to large private enterprises Our deliverables support our clients in their critical decision making underlying major corporate transactions that involve mergers and acquisitions (M&A), joint ventures (JV), investment & divestment strategy, corporate and shareholder restructure, dispute/court analysis (litigation support), initial public offerings (IPO), fund raising, resolve with tax authorities and so on 2

Our Financial and Industry - Technical Skills and Experience We combine both financial and technical skills and experience in providing clear and objective advice to our clients Our team of consultants comprises the best mix of technical skills and experience depending on the complexity of each project. Our multi-disciplinary team comprises of professionals with different technical disciplines including accounting and finance, engineering, biomedical, pharmacy and chemistry, and information and communication technology Our Strength Established track record in corporate finance, expert valuation and due diligence advisory work across Asia Pacific and Greater China Established regional presence with client and business network across Asia Pacific and Greater China Multilingual capability Niche industry experience and expertise Our expert reports are accepted and relied upon by public companies and government related approving authorities across Asia Pacific and Greater China 3

Corporate Finance We assist our clients from cradle to IPO and beyond Transaction Deal Advisory And Origination We carry out buy and sell side mandates underlying merger and acquisitions (M&A), joint ventures (JV), reverse take-overs (RTO), management buy-outs (MBO) including cross-border transactions involving subjects in both Asia Pacific and Greater China Our expertise, client and business network, and track record of cross border corporate transactions offer a bridge and exchange platform of choice for financial and corporate opportunities between Asia Pacific and Greater China We carry out industry specific analysis and searches leading to deal origination. Depending on the scope required by our clients; our role includes preparation of transaction proposals and information memorandums, financial and corporate restructuring, valuation, negotiation support, deal structuring as well as project management. We handhold our clients from deal origination all the way to successful completion of the transaction Fund Raising Structured Finance / Mezzanine Finance We advise start up and growth companies on their corporate finance strategy, assisting them in arranging financing from suitable private equity and venture capital funds including providing negotiation support and advising on the suitable deal structure and program Initial Public Offering (IPO) Advisory We handhold our clients in their preparation for IPO on internationally recognized equity exchanges. Our roles include project management and lead the working team all the way to successful IPO launch We advise in the design of appropriate pre and post IPO strategy and program inter alia devising a suitable flotation scheme, selection of an appropriate equity exchange and underwriters, selection and appointment of a suitable working team comprising legal advisors and reporting accountants, facilitate in the preparation of necessary submission documents as well as business plans We also work with our clients post IPO to design and implement suitable expansion programs through appropriate corporate transactions such as acquisitions, joint ventures and so on with the aim to increase shareholders wealth 4

Expert Valuation Advisory We have extensive experience and track record in expert valuation advisory across Asia Pacific and Greater China Our expert valuation reports are relied upon by key management and approving authorities underlying corporate transactions such as mergers and acquisitions (M&A), joint ventures, fund raising and initial public offering (IPO), corporate and shareholder restructure including dispute analysis (litigation support), resolve with tax authorities and so on There are instances where the valuation exercise is preceded by financial and technical due diligence undertaken by our own Risk Management Group (RMG). The deliverables from the due diligence exercise provides critical input for the valuation analysis Our expert valuation works include (and not limited to): 1. Business and equity valuation 2. Intellectual capital assets review and valuation 3. Valuation for financial reporting 4. Valuation for tax purpose 5. Valuation for litigation support 5

Our Valuation Spectrum Full Review Willing Seller s / Buyer s Value Market Value Fair Value M&As Divestment Corporatization MBO Joint venture Fiscal/Tax valuation IPO Spin-offs Restructure Intellectual capital Litigation / Dispute Purchase price allocation Goodwill impairment test Limited Review Component of lead advisory Stand-Alone requirement 1. Business and equity valuation We carry out expert valuation of businesses and companies, and equity facilitating various corporate transactions. 2. Intellectual capital assets review and valuation Intellectual capital assets include technology companies or profit centres, brand and trademarks, copyrights and technology assets. Technology assets include patents, proprietary technology and know-how, computer software and in-process research & development (R&D). We carry out these intellectual capital assets reviews and valuation facilitating trade assignment, licensing and other corporate transactions 3. Valuation for financial reporting Purchase price allocation IFRS changes the accounting treatment for acquisitions. All assets (tangible and intangible) resulting from a corporate merger and acquisition (M&A) transaction are required to be recorded in the balance sheet of the acquirer at current market values and where appropriate relevant assets are depreciated over their useful economic life. Complex assets such as goodwill, brands, tradenames and other intangibles are subjects to be valued during these exercises Impairment review Goodwill for example is now tested for impairment and is marked down if the conclusions of the valuation tests warrant such adjustment. In addition, a range of financial assets are now required to be assessed under the relevant economies accounting regime including financial instruments and insurance contracts Share option In addition, relevant accounting regimes also require share options to be valued as they are charged against the profit and loss account on an annual basis 6

4. Valuation for tax purpose Businesses may face specific challenges when negotiating and agreeing values with tax authorities. Also a change in corporate structure, a disposal of assets or a new shareholding arrangement including share option schemes and other forms of employee incentive programs are some of the issues that can impact business values and create tax liabilities that require swift and successful valuation resolutions with tax authorities 5. Valuation for litigation support Our valuation expertise supports litigation cases whether it is court, arbitration or mediation proceedings; we as expert witness assist the legal community and our clients across areas such as calculation of economic damages and lost of profits, royalty claims, valuation of intangibles such as non-compete agreements and so on. As litigation matters consist of a permutation of variables and circumstances, we design our analysis and reports for every engagement that hold up to rigorous scrutiny 7

Risk Management Group RISK MANAGEMENT GROUP (RMG) is a division of Compass and is led by a team of lead consultants and managers with many years of experience in due diligence and risk management advisory assignments gained from working with a large portfolio of clients operating in the private and public sectors across Asia Pacific and Greater China Our RMG focuses in providing the following specialized services : Due Diligence Financial, Technical, Operational and Management We conduct due diligence facilitating various corporate transactions such as acquisitions and investment decisions undertaken by our clients. Our team covers financial, technical, operational and management due diligence works underlying corporate transactions Our work also complements the corporate finance, expert valuation and strategic advisory services portfolio of Compass. For example, our findings from due diligence facilitate the adjustments of valuation assessments, as well as negotiation support underlying merger and acquisitions and so on Risk Management Advisory Our team of RMG advisors comprises of professionals with expertise and years of experience in internal audit, design and implementation of internal controls as well as corporate governance compliance and operational process improvement across a multitude of industries in Asia Pacific and Great China. Depending on the complexity and size of the organization, RMG tailors for our clients suitable risk management program that is also time specific covering the following areas : Internal audit outsourcing Business continuity planning review Corporate governance gap review Control self assessment Development of policies and procedures 8

Sarbane Oxley (SOX) Assessment We base our internal control management system and points on the COSO and CoBit framework in assisting our clients to: Design and implement control processes and policies that form part of the Internal Control compliance requirements defined within the SOX Act; Clarify roles, responsibilities and actions leaving a transparent audit trail for rapid and cost-effective corporate SOX compliance; and Reduce extra time and cost involved by management and the public auditor in auditing and attesting the effectiveness of internal controls over financial reporting 9

Technology Review And Advisory We carry out due diligence on the quality of technology subjects including providing advice on the valuation of these assets for purposes of facilitating acquisitions and assignments including appropriate in and out-bound licensing transactions. Technology assets include technology companies and profit centres Our experience and work extend to sectors such as : Biomedical and biotechnology Pharmaceutical and active pharmaceutical ingredient Information and telecommunication technology Nanotechnology Biofuel and renewable energy Green technology Bio-informatics Phyto-biotechnology Nutraceutical and cosmoceutical Healthcare Image compression technology Biofertilizer and agriculture farming Our work extends to providing negotiation support and advice on transaction structures and agreements for both the assignor/licensor and assignee/licensee of a particular technology asset. Our work includes design of appropriate post technology licensing and/or acquisition and commercialisation programs and systems Our experience in corporate finance can also assists this portfolio of clients to design appropriate commercialisation and business plans, identity suitable partners and arrange suitable financing to operate its research and development and commercialisation plan 10

Strategic Corporate Advisory Strategic Business Planning And Program When a company is at its crossroads; a good and specific strategic plan and program is essential to guide and deploy its strengths and resources in achieving corporate objectives and goals Our team at Compass assists our clients to clearly formulate strategic directions and programs including defining the necessary resources in terms of finance, human capital, technology and other forms of capital in achieving their desired results 11

We assist our clients to : Identify and define realistic and achievable time specific objectives and goals Identify risks, strengths, opportunities and benefits and where necessary new areas of businesses our clients could venture into Identify risks and benefits underlying various strategic options and seek to adopt the right decisions that will increase shareholders value Design a comprehensive strategic business plan Devise the necessary corporate and financial structures capable of supporting the desired business plans Define the various resources necessary in implementing its desired plans and programs Design and implement financial re-engineering to optimize capital structure Assess the need to pursue appropriate corporate finance strategies Design appropriate and clear action plans to ensure timely and proper implementation Tax Strategy And Planning As we compete in a challenging environment, one would need to align their global tax position with their overall business strategy to maintain competitive advantage and to provide value to shareholders Given our industry and cross-border transactions experience, we are equipped with the necessary knowledge in assisting our clients to devise appropriate tax efficient structures and strategies capable of managing global tax risks, meet cross-border reporting obligations and deal with transfer pricing issues Our team can advise on aspects of regional taxation and help multinational businesses achieve their business goals in a tax-efficient manner through advising them on areas of : Income tax treaties Profit and other income repatriation Tax efficient structures and holding company locations Cross-border financing and fund flow solutions Inbound and outbound transaction structuring Intellectual property and intangible assets management 12

我们可协助客户处理如下工作 : 寻找和制定具体的可行企业目标及路向 识别风险, 优势, 机遇和效益, 并提供潜在的业务发展建议 提供风险管理的可行方案 针对企业收益, 可行方案会以多角度决策和提升投资者和股东价值为目标 制定全面的策略性业务计划书 因应业务计划要求, 重整企业和财务架构 依照业务计划要求, 识别所需资源管理 运用金融财务重整技巧, 充分优化资本结构 向企业管理层提供有效的企业金融策略 因应时间和执行力度, 为客户设计有效的金融策略执行计划 税务策略规划 面对充满挑战的商业竞争环境, 制定合适的环球税务规划有助客户保持有效竞争优势和保障股东权益 鉴于我们跨区域交易的经验, 我们具备专业经验为客户识别全球税务风险, 了解跨区域财务报告要求和转移定价的规定 我们的专业团队能为不同行业的跨国客户提供有效的税务管理咨询, 有关服务如下 : 各地区 / 国家之间的所得税协议 利润和其它收益遣返 有效的税务结构和控股公司注册地点安排 跨区域的财务及资金流向解决方案 资源进出架构管理 知识产权及无形资产管理 12

企业策略咨询服务 业务策略计划和规划 企业发展需按不同阶段制定可行性的业务策略计划和规划 有效的策略计划和规划既可为企业带来清晰的企业发展目标和方向, 亦能从事有效的资源配置管理 因应客户的要求, 康柏斯可以协助客户制定多角度的企业策略发展路向, 范围包括财务, 人力资源, 科技及不同形式的资本投入方式来实现所预期的效果 11

科技评审和咨询 康柏斯可以为客户提供科技尽职调查, 服务范围包括对技术质量进行分析和提供价格评估工作, 并对有关技术转让, 使用授权或并购交易过程提供专业意见 科技资产包括从事科技的企业及相关的利润中心 我们的专业经验包括以下范围 : 生物医学和生物科技 药剂及活性药物成分技术 信息和通讯科技 纳米技术 生物燃油及再生能源 绿色科技 生物信息学 植物生物技术 保健及化妆品行业 医疗系统 影像压缩技术 生物化肥和农业 我们会为承让方或受让方担任专业顾问, 并在技术转让或出售使用授权过程中提供支援, 服务包括交易模式或设计, 草拟交易细节, 准备买卖合约, 制定技术市场化的计划和实施方法等工作 凭着企业融资与并购的专业经验, 我们会为客户选择合适的市场化策略及制订可行的业务发展计划 此外, 我们可为客户寻找合适的合作伙伴, 筹集科研经费和市场化所需的资金 10

萨班斯 - 奥克斯利法案评估 依照 全美反舞弊性财务报告委员会发起组织 和 信息系统和技术控制目标 的指引规定, 我们的内部监控管理系统可协助客户 : 依据 萨班斯 - 奥克斯利法案 所规定, 制定合适的执行, 监督和控制流程和相关政策 ; 依据 萨班斯 - 奥克斯利法案 的要求, 制定具备高透明度, 权责分明和达至成本效益的内部审计方案 ; 与 制定有效的内部监控制度, 协助管理层和财务审计师减少查证时间和成本 9

风险管理服务 风险管理团队是康柏斯的专业部门 管理层和成员具备多年的风险管理和各类尽职调查经验 客户层面包括亚太及大中华地区的政府及私营机构 我们的服务范围涉及以下专业层面 : 尽职调查财务, 科技, 营运和管理尽职调查进行尽职调查服务的目的是协助客户处理并购或投资交易时提供具决策性的分析和调查报告 我们的尽职调查服务涉及财务, 科技, 营运和管理层面, 有关调查可以协助客户处理企业交易工作 此外, 我们的尽职调查服务是康柏斯提供企业金融, 专业评估和策略顾问咨询的其中关键组成部份 例如, 我们的调查结果有助客户调整交易价格和优化谈判条件等 风险管理咨询 我们的团队具备不同专业和从事多年内部审计和内部控制工作, 我们的专长包括设计和执行内部控制程序, 企业管治和法规管理, 优化营运流程等 我们的客户来自各行各业和遍布亚太及大中华地区 此外, 我们会因应客户的不同要求, 设计合适和可行的风险管理计划 服务范围包括 : 内部审计外包服务 业务持续性计划评审 企业管治检讨差距评审 自我监控评估 制定企业内部监控政策和程序 8

4.税务安排评估 当客户面对企业股权重组, 出售资产, 进行任何新的股权安排或针对员工发行股权激励方案等计划时则需要考虑有关价值对企业的影响及可能产生的税务责任 不能否认, 企业与税务机关谈判以至最终达成协议是一项具有挑战性的任务 因应有关情况, 我们的价格评估分析将有助客户协调有关税务策略 5. 为诉讼个案作资产评估 资产诉讼涉及法院, 仲裁或调解的法律层面, 我们的团队可以为法律机构或独立客户提供专业的资产评估方案 ; 例如整体经济损失及利润受损, 专利经营权之索赔, 竞争禁止协议中无形资产之计算方法等 每一宗诉讼个案涉及各式各样的变数和复杂情况, 所以我们对每一个案的分析及评估方法均以最高标准进行, 务求可经得起最严谨的外界考验及审查 7

我们的价值评估工作说明 : 全面评审 承让卖方 / 买方的价值市场价值公允价值 并购撤资企业化管理层收购合资 财政 / 税收评估首次公开招股分拆重组 知识产权诉讼 / 纠纷收购价格分配商誉减值测试 局部评审 咨询事项单项特殊要求 1. 业务和资产评估 我们为不同行业的公司提供各类业务评估服务, 同时亦为不同的资产交易提供评估服务 2. 知识资产评审和评估 知识资产包括科技企业及利润中心, 品牌商标, 版权及技术资产 而技术资产则包括专利权, 独自拥有之技术或工艺秘方, 电脑软件及正在开发中的科研技术 我们为以上不同方面的知识资产提供审定及评估, 协助达成知识资产转让, 专利授权使用及其它各类有关之交易等 3. 财务报告评估 收购价格分配 根据国际财务报告准则 (IFRS) 中有关收购交易的会计处理, 所有资产 ( 有形和无形的 ) 需在并购交易时使用当时的市场价值和依据该资产的经济使用年限进行适当的折旧摊销, 并需记录在收购者的资产负债表内 较复杂的资产, 例如商誉, 品牌, 商业代名及各类的无形资产均在评估过程中需要清晰处理 减值测试评审 根据会计准则要求, 企业需为已收购的资产进行估值测试评审, 并需每年记录在损益表内 例如 : 企业需要为商誉进行减值测试, 以确保有关减值损失作出合理调整 此外, 一系列的金融资产, 包括金融工具和保险合同亦需进行估值测试 股票期权 此外, 相关的会计准则亦要求在每一年度为股票期权进行估值并需在损益表内确认因公允价值变动所带来的收益或损失 6

专业价值评估咨询 在亚太和大中华地区, 康柏斯是其中一间极少数拥有特殊技能及丰富经验的专业价值评估顾问 我们的专业评估分析和报告为客户管理层及政府部门提供参考和依据, 处理企业交易过程中所面对的问题, 例如并购, 合资合营, 筹集资金, 首次公开招股, 股权重组, 纠纷诉讼 ( 法律支援 ), 税务解决方案等 在一些情况下, 我们的附属团队 风险管理团队 (RMG) 会在价值评估前先为交易进行财务和科技尽职调查, 该报告结果将作为价格评估的重要依据 我们的专业评估服务包括如下 ( 并不仅限于 ): 1. 业务和资产评估 2. 知识产权评审和评估 3. 财务报告评估 4. 税务安排评估 5. 为诉讼个案作资产评估 5

企业融资与并购 康柏斯为客户提供一站式的首次公开招股和上市挂牌后的专业咨询服务 项目发起及交易处理咨询 康柏斯可以为客户处理跨地区, 包括身在亚太和大中华地区的各类买卖交易服务, 交易方式包括并购, 合资合营, 反向收购, 管理层收购等 结合各式各样的专才, 客户组群, 商业网络和项目经验, 我们可以为亚太和大中华地区的客户提供各类型合适的业务平台 通过深入的行业分析, 我们可以为客户搜寻适合的交易发起意向及统筹完成交易所需的工作 此外, 我们亦会按照客户的特定要求处理各类企业金融所需的工作, 服务包括企业交易计划书和章程备忘草拟, 财务和企业架构重组, 估值服务, 谈判支援, 草拟交易细节和项目管理等 筹集资金结构性融资 / 非创业及上市前融资 通过咨询服务, 我们会为不同发展时段的客户制定企业融资策略, 协助客户寻找合适的私募基金和创投基金 服务范围包括谈判支援, 提供适当的交易方案和计划等 首次公开招股咨询 康柏斯可以在国际认可的证券交易市场为客户统筹首次公开招股的准备工作 我们的职责包括 : 由项目发起阶段至企业成功上市阶段, 领导各个项目专业团队处理工作 为客户设计首次公开招股和上市后的策略和计划, 范围包括合适的股票发行计划, 选择合适的交易市场和证券承销商, 寻找及委托合适的专业团队, 法律顾问, 财务会计师以协助完成业务计划和上市所需要的相关文件 此外, 我们可以为已上市的客户设计各类企业交易计划, 例如通过并购, 合资合营等方式来扩大股东财富价值 4

财务, 行业及科技层面的专业经验 我们的服务结合财务及科技专业, 为客户提供清晰和客观的专业咨询建议 康柏斯拥有多功能和跨行业的专业团队 ; 顾问成员来自不同专业领域, 包括会计及财务, 工程学, 生物医学, 药剂及化学, 信息及通讯科技等专才 我们会因应客户的需要和项目复杂程度安排合适的专业成员 康柏斯的优势 在亚太和大中华地区从事众多的企业金融, 专业评估和尽职调查服务, 并累积丰富工作经验 在亚太和大中华地区建立了各类客户和业务网络 团队具备不同语言沟通能力 团队具备特殊行业经验和专业知识 我们所提供的专业报告和分析符合亚太和大中华地区上市公司和监管机构的要求及得到认可 3

关于康柏斯 康柏斯是一间从事专业财务咨询服务的顾问集团公司, 为身处亚太及大中华地区各行各业的客户提供企业金融和相关交易支援服务 服务范围包括 : 企业融资与并购 专业资产评估和财务分析 风险管理咨询 各类尽职调查 ( 财务, 科技, 营运和管理 ) 和企业金融交易所需的专业评审服务 科技评审和咨询 企业策略咨询 康柏斯的交流之窗 康柏斯的团队来自不同的专业领域, 客户遍布不同地区和来自各行各业 结合团队的经验和客户组群, 我们可以为亚太及大中华地区的客户创造丰富的企业金融和合作机遇 地域和行业经验 我们的团队和合作伙伴具备丰富的财务和企业投资融资咨询经验, 为不同行业提供交易支援服务 行业范围包括 : 生物医疗和生物科技 医药业 保健和化妆行业 信息及通讯科技 基础建设 快速消费品 教育及电子学习平台 绿色科技 农业 食品和餐饮 酒店及招待服务 能源工业 ( 包括燃油, 燃气和生物能源 ) 财务和中介机构 电子设计和生产 航空 我们的客户组群遍布亚太及大中华地区 客户包括上市公司, 政府附属投资基金及中大型私营企业 我们的专业服务和报告为客户在进行企业金融, 并购, 合资合营, 投资或撒资策略, 企业及股权重组, 商业 / 民事产权纠纷, 首次公开募股及集资, 税务安排等交易时, 提供处理相关交易的专业决策方案 2

目录 02 关于康柏斯 04 企业融资与并购 05 专业价值评估咨询 08 风险管理服务 10 科技评审和咨询 11 企业策略咨询服务

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