Stevenson, Wong & Co. assisted Creative China Holdings Limited (8368.hk) in its placing on HKEx

SW acted as legal advisers to Creative China Holdings Limited (Stock Code: 8368) a company principally engaged in the business of program production and event organisation in the PRC, to list on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (“The Stock Exchange”) by way of placing.

The shares were listed on The Stock Exchange on 18 November 2015. 330 million shares were placed and the final placing price was HK$0.39 per placing share.

Mr. Philip Jian Yang (right), Chairman and Executive Director of the Creative China Holdings Limited and Zhao Wei (left), Cornerstone Investor of the Company

(Source: http://big5.asean-china-center.org/gate/big5/www.fj.xinhuanet.com/2015-11/19/c_1117200640.htm)

Please contact our Hank Lo for any enquiries or further information about this transaction.

Stevenson, Wong & Co. assisted Zhong Ao Home Group Limited (1538.hk) in its global offering on HKEx

SW acted as legal advisers to Zhong Ao Home Group Limited (Stock Code: 1538) (“Zhong Ao”) to list on the Main Board of The Stock Exchange of Hong Kong Limited (“The Stock Exchange”).

The shares were listed on The Stock Exchange on 25 November 2015. 224.0 million shares were offered, among which 201.6 million were offered for international placing. The final offer price was HK$1.88 per offer share and the net proceeds amounted to HK$296.0 million.

Zhong Ao is a leading independent property management company in the PRC and was ranked third in terms of overall strength among independent property management companies in the PRC by China Index Academy, and 9th in 2014 in the “China Top 100 Property Management Companies” compiled by China Real Estate Top 10 Research and China Index Academy.

Please contact our Hank Lo for any enquiries or further information about this transaction.

In 2011, an annual limit of 20,700 visa grants was introduced by the UK government to restrict the number of non-EU migrants working in the UK under Tier 2 visas. UK firms did not encounter problems in the first four years until 11 June 2015, where the cap was exceeded for the first time .

On 10 June 2015, the UK government announced that a new blueprint is being devised to reduce demand for migrant labour .

With an aim to further significantly reduce non-EEA economic migration to the UK, the Migration Advisory Committee will advise the government by the end of 2015 on:
– restricting work visas to genuine skills shortages and highly specialist experts
– setting a time limit on how long a sector can claim to have a skills shortage
– a new skills levy on Tier 2 visas to increase funding to UK apprenticeships
– Lifting the salary requirements to curb businesses from employing foreign workers to undercut wages

With more stringent Tier 2 immigration rules, many firms may not be able to obtain Tier 2 visas for lawyers they intend to employ. The restrictions have also caused great difficulties in employing trainee solicitors. As a result, the UK may risk international law firms moving their offices outside of the UK to a more competitive jurisdiction .

The England and Wales Law Society have raised the criticism that any new Tier 2 restrictions would have a direct adverse impact on international law firms. Not only would this jeopardize the legal sector and the UK economy, but it would also occasion collateral damage to other sectors.

(Sources:
http://www.workpermit.com/news/2011-04-06/uk/tier-2-visa-major-changes-from-6-april-2011.htm
https://www.lawsociety.org.uk/news/press-releases/public-concerns-about-immigration-are-not-addressed-by-restricting-business-migration-for-professionals-warns-law-society/
https://www.gov.uk/government/news/pm-announces-migration-advisory-committee
https://www.lawsociety.org.uk/policy-campaigns/consultation-responses/documents/migration-advisory-committee-review-tier-2-law-society-response-september-2015/)

In light of the announcement of new contract proposals for NHS staff by the UK Health secretary – Jeremy Hunt, 3,468 UK doctors applied for permission from the General Medical Council (GMC) for certificates to practice abroad. Australia has always been a popular destination for UK doctors, mainly because of higher pay and better working conditions, e.g. the salary rates can be up to 50 per cent higher and working hours are more reasonable. As a result, an increasing number of UK doctors and nurses are emigrating to Australia under the skilled immigration visas.

(Sources:
http://www.workpermit.com/news/2015-11-25/australian-skilled-immigration-uk-doctors-leaving-for-australia)

On 23 November 2015, SW partners Mr Eric Lui and Ms Heidi Chui, attended the Annual Cocktail organised by the Hong Kong Law Society held at the Hong Kong Club.

Members of the legal community attended the Annual Cocktail to network and socialise with fellow practitioners and distinguished guests, including the Honorary Chief Executive, Mr C Y Leung and the Honorary Secretary for Justice, Mr Rimsky Yuen SC.

Photograph of Mr Lui (on the right), Ms Chui (in the middle) and Mr Rimsky Yuen SC (on the left), Secretary for Justice HKSAR

Contact person: Mr Eric Lui, Ms Heidi Chui

In the wake of the terrorists’ attacks in Paris, the Hong Kong Immigration Department announced on 16 November 2015 that French visitors in Hong Kong affected by this incident can apply for an extension of stay if they wish to remain in Hong Kong. The Department also stated that special attention will be given to these applications and most would be approved on the same day. The department has also informed the Consulate General of France in Hong Kong of this arrangement.