CentreO Blog

Mandatory Regime of No-par: A company’s shares will have no nominal value and the new rule applies to all local companies with a share capital. The new ordinances contain transitional and deeming provisions relating to the move from par value shares to no-par value shares to aid smooth transition. All shares issued before the commencement date of the new ordinances are deemed to have no par value and a conversion process is not required. Amounts standing to the credit of a company’s share premium account and capital redemption reserve account become part of the company’s share capital. Individual companies may review their particular situation to determine if specific changes to their constitutional documents, contracts entered into by the companies etc. are required, having regard to their circumstances.

Statement of Capital: is included in a return or notice in a specified form, which is required to be delivered for registration whenever there is a change in a company’s share capital, e.g. an allotment of shares or a permitted alteration of share capital. The statement is a ‘snapshot’ of a company’s latest share capital and it will ensure up-to-date share capital information.

Restricting Corporate Directorship: Every private company must have at least one director who is a natural person, and a 6 months grace period is given after the commencement of the new ordinances for existing companies to comply with the new requirement.  A notification of change of directors should be delivered for registration in the specified form ND2A within 15 days of the changes.

 (Changes will be effective on 3rd March 2014)

As of March 3^rd this year there are New Companies Ordinances to improve the quality corporate governance, ensure better regulation, modernise the law and to make the process easier for businesses.

Highlights of Major Changes: Constitutional Document and Common Seal

Abolition of Memorandum: Memorandum of Association is no longer needed for all local companies, and Articles of Association is now the constitutional document of a company. For companies registered under Cap. 32 (“existing companies”), current terms in the Memorandum of Association will be regarded as provisions in their Articles of Association. Table A in the First Schedule to Cap. 32, in so far as not modified by the provisions of the new CO, will continue to apply to existing companies which adopt Table A as their Articles of Association.

Model Articles: are prescribed under the new CO for use by private companies limited by shares, public companies and companies limited by guarantee.

Common Seal: remains same

(Changes will be effective on 3rd March 2014)

When expecting to just find out about their coffee establishment, I ended up going to Rabbithole Coffee and Roaster  and getting a mind-blowing coffee experience I have never received before! Greeted with a warm welcome from the staff, the café gives off a laid back and relaxing atmosphere. I could see myself coming down after work just to sit back and relax to a nice cup of coffee.

I have always been a coffee lover, let me rephrase, a coffee drink lover (would better define me), but who knew there was so much love, science and technicality behind one cup? Connie (staff member) showed me the path down the rabbit hole on a journey of coffee knowledge. It was an information overload, more than I could grasp, and I was loving every second of it!

On a fortnightly basis the café receives fresh fair trade coffee beans, 3-6 varieties all coming from difference regions, to meet the acquired taste of coffee lovers. Here are the basics that I gathered, Coffee can have high to low acidity which gives off the citrus flavour. The temperature of the milk and coffee has to be just right to give you the balanced smooth taste.

Coffee cherry is the original coffee, which has a tea like taste.

Next stop was hand drip coffee, which is high in caffeine than the normal espresso, yet the taste is lighter.

They also have an ice drip that takes 10 hours!

Through this session I learnt a lot about coffee and the Rabbithole family, the staff have a passion for coffee and customer service to them is key. Open to sharing their coffee culture and serving up only the finest of coffees to all, the Rabbithole Coffee and Roaster is a cozy coffee café off the beaten track.

-by Cathy

Our world today is all about recycling. More than ever before we use plastic packaging for food products. A  water bottle is probably the number one plastic container in use these days.

And please do not get this wrong: there is nothing bad about drinking water from plastic bottles. BUT there are rules that need to be followed to keep you and your loved ones safe. And sometimes we are simply not aware of them.

You may have heard the story of the girl who got cancer from using the same plastic bottle? Well, we are not here to scare you into carrying a porcelain cup wherever you go. All we want to do is go over a few rules when dealing with plastic. I mean it is better to be safe than sorry, right?

Actually, plastic bottles tell the story themselves. All you have to do is pay attention.

Take a look at the bottom of the bottle. You will see a small triangle with a figure.

Health advocates recommend not reusing bottles made from #1 PET or PETE (polyethylene terephthalate). According to The Green Guide such bottles are safe for one-time use, but re-use should be avoided, as studies indicate they may leak DEHP  – another probable human carcinogen – when they are in less-than-perfect condition.

Let’s break it down:

PET polyethylene terephthalate resin is commonly used for manufacturing mineral water bottles and soda bottles

DO NOT: Heat them to 70 ℃  (causes deformation and release of harmful substances)

DO NOT: Use #1 plastic after 10 months, as they may release carcinogenic DEHP

DO NOT: Leave them in the sun, car or any heated environment

DO NOT: Use them to keep wine, oil or any other substances

HDPE (high density polyethylene) is commonly used for making white bottles, containers for bath products and cleaning materials.

DO NOT: Use these containers for storage of other items

DO NOT: Recycle them

PVC is commonly uses to make raincoats, plastic film, plastic boxes and so on.

This material is rarely used in food packaging.

DO NOT: Heat it

DO NOT: Recycle

DO NOT: Try to clean it and use for keeping food.

PE (Polyethylene) is commonly used for making common plastic wrap.

DO NOT: Use this material in heated environment (like wrapping food for the microwave).

 PP (polypropylene) is commonly used for making milk bottles, yoghurt bottles, juice bottles, microwavable meals and so on. Their melting point is 167 ℃.

NOTE: Pay attention to the materials used for manufacturing the lid of the container. Quite often the lids are made from different materials, such as PE and can not withstand high temperatures.

PC polystyrene is commonly used to make instant noodle bowls and snacks.

DO NOT: Put them into microwaves, as chemicals can be released at high temperatures

Other PC include materials used for manufacturing common kettles, space cups and bottles. They are often used for gift packaging.

DO NOT: Use them in a heated environment, as harmful substances (such as bisphenol A) may be released.

Be careful and stay safe!

To start your business off in the New Year we are happy to share that from the 20^th of January to the 20^th of February, Lyoness Members will receive an 11% off Centre O’s Virtual Office services! That’s a saving of $38.50 from a $350 service, which includes:

• prestige registered address
• professional receptionist services
• dedicated telephone line
• dedicated fax line
• receipt of letters/parcels with notification via phone/email
• office hours customised call handling
• non-office hours customized voice to email
• 24/7 customized voice to email
• 24/7 unlimited fax to email
• 8 hours free usage of conference room/ month
• Internet usage
• Kitchen amenities

Additional service entitlements:

• listing of corporate signboard
• usage of conference room
• usage of voice conferencing
• administrative support
• printing/ copying
• courier/ postage and stamps arrangement

-no hidden fees or charges-

What happens after?!

From the 21^st of February onwards, Lyoness members can benefit from a 6% discount off Virtual Office’s

Are you a Lyoness member? if not come down to Centre O and sign up today! There is no membership fee, so why not?

Our operating hours are:        Mon – Fri: 08:45 – 17:45        Sat: 08:45 – 13:00

If any inquiries please feel free to contact us via email: sales@centreo.hk

or

To find out more about Lyoness visit the website: http://www.lyoness.net/