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OverviewA plain-English guide that demystifies the business landscape inChina from a due diligence point of view Due diligence is crucial to any business deal, and, thankfully, due diligence research has come a long way over the years. Whatused to be a cumbersome, time-consuming process has beenstandardized and systemized with generally accepted auditingframeworks and tools, such as the all-important auditing checklists. But when it comes to doing due diligence in China, with its opaque regulatory system and byzantine accountingstandards, all bets are off. In this book an acknowledged expert inthe field takes you beyond the checklists to arm you withChina-specific due diligence strategies, tools and techniques thatgo beyond what is typically part of the process. Gives a detailed account of why conventional frameworks used inthe west simply don't work in China Provides first-hand accounts based on the author's years ofexperience as a private equity professional doing deals inChina Reviews, in-depth, the unique differences between corporationsand businesses in China and those in the West and theirimplications for the due diligence process Uses numerous case studies to guide the reader through anentire due diligence process for a firm in China Full Product DetailsAuthor: Kwek Ping YongPublisher: John Wiley & Sons Inc Imprint: John Wiley & Sons Inc ISBN: 9781118469057ISBN 10: 1118469054 Pages: 256 Publication Date: 22 August 2013 Audience: Professional and scholarly , Professional & Vocational Format: Electronic book text Publisher's Status: Active Availability: In stock  We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsPreface xi Acknowledgments xv Chapter 1: The Business Landscape in China 1 Macro and Structural Domains 2 Corruption in China 6 Conducting Due Diligence in China versus Western Countries 26 Conclusion 30 Notes 31 Chapter 2: Due Diligence in China 33 Due Diligence for Different Types of Deals 36 Levels of Due Diligence 48 Key Considerations 56 Organization of Due Diligence Process 59 The Due Diligence Team 63 Independence of Vendor Due Diligence 64 Reasons for Poor Due Diligence 68 Reverse Takeovers 73 Dispute between SEC and CSRC 75 Conclusion 77 Notes 78 Chapter 3: Financial Due Diligence 81 Financial Due Diligence Checklist 82 Conclusion 139 Notes 140 Chapter 4: Operational, Commercial, Legal, and Other Due Diligence 143 Operational Due Diligence 144 Commercial Due Diligence 167 Legal Due Diligence 169 Balanced Scorecard (BSC) 178 How to Predict Bankruptcy-Altman Z Scores and Gearing 185 Optional Checklists 186 Conclusion 193 Notes 194 Chapter 5: Beyond the Checklists: Founder and Management 195 Founder Management Root 198 The Founder Background Check 200 Guanxi (Relationship) 216 Due Diligence on More Than One Founder 223 Summary of Background Check: SWOPEST and Tri-Background 224 Conclusion 228 Notes 229 Chapter 6: Beyond the Checklists: Hard Facts 231 Face-to-Face Meetings 231 Proportion Check 242 Site Visits 247 Due Diligence Goes One Step Deeper: The Four Deadly A's 256 Conclusion 290 Notes 292 Chapter 7: Implementing a Due Diligence Workflow 293 Getting the Mind-Set Right 294 Formulating the Due Diligence Strategy 295 Forming a Team 300 Starting the Due Diligence Process 304 Conclusion 312 Notes 313 Chapter 8: Post Due Diligence and Case Studies 315 Preparing the Due Diligence Report 316 Due Diligence Outcome Review 316 Deal Structuring, Negotiation, and Deal Making 318 Post-Acquisition Due Diligence 318 Summary Models 319 Final Case Studies 327 Conclusion 347 Notes 348 About the Website 351 About the Author 353 Index 355ReviewsAuthor InformationKwek Ping Yong has more than ten years of private equityinvestment experience in China. Mr. Yong started his first USDChina-focused growth fund in 2001 and has since made more thanthirty investments in businesses there, across various industries, including manufacturing, mining, energy, food and beverage, and theretail sector. He has also planned and executed many successfulexits through trade sales and pre-IPO transactions, and performedhundreds of full due diligence exercises for Chinese companies pre-and post-investment. Mr. Yong launched his first Chinese RMBprivate equity growth fund in 2010 with a total USD and RMB fundsize of more than US$4 billion under management. Prior to joiningInventis, Kwek Ping founded an IT system integration company thatwas later merged and listed at the Helsinki Stock Exchange inFinland in 2000. His track record is well recognizedinternationally, and he is frequently invited to speak atinternational conferences and summits. Mr. Yong is an adjunctprofessor at Singapore Management University, where he developedand teaches private equity courses for the Financial TrainingInstitute. In addition, he is a visiting lecturer at the ImperialCollege Business School, UK, and a Senior Fellow of the WhartonSchool, University of Pennsylvania. Kwek Ping Yong is the author ofPrivate Equity in China: Challenges and Opportunities(Wiley), the first industry-focused book on the subject. Tab Content 6Author Website:Countries AvailableAll regions |
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