Mainland deals call for change of name

PUBLISHED : Sunday, 27 August, 1995, 12:00am
UPDATED : Sunday, 27 August, 1995, 12:00am

MY company's name is in English only. I need a Chinese company name for use in China. Do I need to register this Chinese name in Hong Kong? What steps do I take? A HONG KONG registered company must have an English name. If a company wants to add a Chinese name, it has to undergo the formalities for a change of the company's name.

You should conduct a name search at the Companies Registry on the availability of the proposed Chinese name you wish to adopt.

After the name is cleared, the company should either hold a general meeting to pass a special resolution, or arrange for all shareholders to sign a resolution in writing to approve the addition of a Chinese name.

A signed copy of the special resolution should be delivered to the Companies Registry with the appropriate fee within 15 days of passing the special resolution.

The Companies Registry will usually issue the certificate of incorporation on change of name three weeks after the filing of the resolution.

Thereafter, the following actions should be taken, where appropriate: Change the company's letterhead and stationery; Notify the Business Registration Office (BRO) about the change by completing a prescribed form. The original Business Registration Certificate must be returned to the BRO for amendment; Arrange for a board resolution to be passed to adopt a new common seal and order a new company chop; Inform the company's bankers and all parties of the change of name and provide the banker with a specimen of the new chop. I HAVE been the financial controller (FC) of a US-based multinational for about six years. Recently, the firm appointed a new chief financial officer (CFO) to replace our existing CFO, who had left because of health reasons. Because the exiting CFO was also new to our company, I am concerned that I am being deliberately passed over for the post. ALTHOUGH on the organisation chart, it may appear to be one grade up, there is a massive difference between the duties of an FC and a CFO.

Generally, when an internal candidate is passed over for the post of CFO, it is because he probably is not enough of a businessman.

In today's competitive business arena, the potential CFO candidate has to have salesmanship and product knowledge, with experience in tactical and strategic planning.

Each week leading financial adviser Patrick Tuohy and accountancy firm KPMG Peat Marwick answer readers' problems. Letters are treated with the strictest confidence and names and addresses will be withheld from publication.