Polaris Enterprise Service Limited (“Polaris”) is dedicated to providing financial and corporate governance consulting service to enterprises located in China and Hong Kong. Polaris works with clients to formulate strategy, helping them to achieve their business goals. Polaris keeps clients informed with up to date international financial reporting standards and international accounting standards. Polaris supports clients’ business areas in their duty to comply with relevant legislation and regulations and internal procedures.
Vision
Polaris aims to be the trusted strategic advisor in steering enterprises on the path to success.
Mission
Polaris offers reliable advice and back office operation support tailored to clients’ business needs with quick response time, allowing clients to run their business smoothly and focus on their core competence.
Value
Action – Polaris works side by side with clients, sharing knowledge, guiding and supporting people at all levels to achieve the desired results.
Based on facts – Polaris follows the trail of evidence, enabling a sound foundation for decision making.
Communication – Polaris takes time to understand clients’ needs and the outcomes sought.
Discussion – Polaris encourages the facts and rationale that drive the recommendations to be explored, explained, discussed and challenged.
Each company is different – Polaris crafts every assignment to match clients’ culture and need, providing client with the best route to success.
Fine knowledge – Polaris assembles a team with a deep understanding of specialist areas and relevant skills required for clients’ situation.
Grounded in the real world – Polaris develops with clients solutions which are both achievable and sustainable in their organization.
Services
Accounting and Administration Solutions
Polaris’ accounting and administration solutions enhance clients’ back office operational efficiency. Polaris prevents the seemingly never-ending amount of accounting and administrative work distracting clients from their core business. Polaris assists clients in streamlining management procedure to reduce management time and expenditure. Polaris provides comprehensive and practical assistance in the initial set up of accounting system, assistance in statutory audit, bookkeeping, tax compliance, budgetary control advice, accounting training, financial forecasting, MPF administration, EC insurance policy arrangement and customization of management reports.
Corporate Governance
A comprehensive corporate governance framework defines the relationship between the board, the management and the staff, and it is important for clients to achieve strategic goals. It addresses performance oversight, the ethical tone for the company and the transparency of its conduct, communication, reporting and information flows between the board and the management, and reliability of financial reporting, both internal and external. Polaris focuses on delivering effective, practical and tailored solutions for improved corporate governance.
Corporate Compliance – Polaris provides assistance in establishing compliance framework, including compliance policy and objectives, compliance structure, compliance job descriptions for the management and the staff, compliance processes and reporting, and oversight mechanism. Polaris provides training to build awareness of the management and the staff, setting the tone as to how the company operates and behaves both internally and to the market. Polaris also assists clients to implement and monitor the compliance framework.
Enterprise Risk Management – Polaris recognizes that risk management is an area of strategic importance. Polaris works with clients to assist them in managing their key risks, which may prevent them from achieving their business goals, on a continuous basis. Polaris designs and develops implementation strategy on enterprise risk management mechanism based on the COSO Enterprise Risk Management Framework that is tailored to specific business operations.
Internal Controls – Corporate governance codes require the board to review annually internal controls and process flows across financial, operational, and compliance areas to ensure that they are working properly. Polaris guides client to develop the right tone-at-the-top and robust board and management processes to enable effective governance. Polaris ensures clients’ process flows are documented to support their relevant regulations and incorporate expected levels of key controls. Polaris assists clients to develop monitoring systems to ensure the control work suits their governance and reporting needs.
Initial Public Offering
Before the decision on initial public offering (“IPO”) is made, Polaris works with clients to explore both the value created and the required commitment for them to go through the listing process. Polaris is aware that path to achieving listing status is a particularly complex area for companies to navigate. Polaris helps client to formulate and implement strategy to tackle the ensuing cultural and structural adjustment to achieve IPO readiness. Polaris offers a rational, systematic, knowledgeable structured route through the complications.
IPO preparation – Polaris works with clients closely to produce a work plan on listing process. Polaris advises on setting up resources and an internal IPO team. Polaris helps clients steering through complexity, freeing up energy and time for client’s management to devote efforts in their core business.
Select the right team – Choosing the right team of professional advisors is critical to the success of IPO. Polaris gets to know the relevant professional advisors beforehand and assists client to select the best team based on appropriate criteria.
Project management – Polaris supports clients in the overall project management, coordinating with professional advisors involved. Polaris’s input adds independent expertise to a key management process and provides a strong value proposition, saving time and often leading to significant cost reductions.
Post IPO management – Polaris assists clients to maintain a high standard of corporate governance and to develop action plan on business and financial targets, satisfying expectations from regulatory bodies and the financial community after listing.
Mergers and Acquisitions
Polaris advises clients on how to do a deal so that it creates sustainable value. Polaris helps clients improve their odds of successful deals by honing mergers and acquisitions objectives, ensuring the deal fit clients’ overall business strategy.
Transaction Valuation – The deal value often forms the crux of negotiations for companies looking to buy or sell. Which valuation methodology to adopt depends on the circumstances surrounding the valuation and the nature of the company in question. Polaris assists clients to adopt the most suitable valuation methodology to ascertain the value of a company.
Due Diligence – Before client entering into a substantial transaction, Polaris analyzes information regarding the regulatory compliance, legal compliance, tax compliance, financial situation, assets valuation, liability, information technology, insurance, commercial environment and other aspects of the target company to ensure right transactions are made. Polaris provides a fact-based and quantified assessment that helps clients ward off deal fever, spots synergies and start preparing clients for integration before the deal is inked.
Negotiation Support – Polaris provides negotiation support to clients by orchestrating the process and coordinating with other advisors.
Transfer of shares – Polaris provides administrative support to shares transfer in private companies, including advising and preparing the documents requried for a smooth shares transfer.
Tax advisory and administration support
Tax reporting – Polaris helps clients to deal with Hong Kong Profits Tax reporting and comply with tax reporting obligations as an Hong Kong company employer. Polaris also advise foreign expats sourcing income in Hong Kong and to fulfill their tax reporting obligation in Hong Kong.
International tax advisory – Polaris is an expert in advising and providing administrative supports in international tax issues, including the withholding tax issues and tax implications for companies with international operations.
Stamp Duty – Polaris provides advice for transaction with stamp duty implications. Polaris also provides technical and administrative supports to clients in fulfilling their stamp duty obligation.
Setting up charity in Hong Kong
Charity organisation – Polaris helps clients to deal with administrative support in setting up charity orgainisation in Hong Kong and apply for section 88 of the Inland Revenue Ordinance (Cap 112) exemption.
System development
Polaris recognizes that system development is about business change, not only technology. Polaris works with clients to define real quantified business requirements, identifying what needs to be changed and which benefits are really required. Polaris steers clients through the formation of business systems strategy, work with them to develop the business case and bring a truly independent approach to software short lists. Polaris helps with the final software selection and adds additional support during negotiations with potential suppliers, making sure the deal is not just focused on initial capital expenditure.