Saturday, June 23rd, 2012 - Prosperity Advisers
Prominent Accounting and Growth Advisory firm, Prosperity Advisers sees significant activity from the Australian economy's China and India led transformation through their Asian Business Desk.

In one of a number of recent transactions, Prosperity Advisers’ Asian Business Desk has acted for Chinese Petroleum Corporation (CPC) in their investment in Shell Prelude’s Floating LNG Facility. This high profile investment adds significant weight to CPC’s portfolio of petroleum, petrochemical, and high-tech assets.

Prosperity acted as a key adviser to CPC as the Australian partner in a multinational due diligence team. The assignment included a presentation of findings to the CPC’s project team in Taiwan. Being one of the first LNG agreements between Australia and Taiwan, the transaction was a remarkable milestone and one Prosperity Advisers is proud to have been involved with it.

“The CPC investment into the Prelude Project is an historic one for furthering commercial relations between Taiwan and Australia. This first of its kind technology is exciting and we believe the investment represents a significant opportunity for CPC Corporation,” Luke Malone, Prosperity Transaction Services Team Partner commented. Prosperity’s Asian Business Desk satisfies a growing demand for audit, due diligence, tax and transaction advisory services from businesses operating in the Asia Pacific region. They offer a team of financial analysts, transaction advisory and corporate assurance specialists, all of whom have significant experience doing business in and with Asian companies and have strong appreciation of the Asian culture. Several team members are fluent in Mandarin.

"The cultural experience of this team is just as important as the technical skills, as many who do business with Asian companies would appreciate," said Allan McKeown, Chief Executive of Prosperity Advisers.

“Asian investors are increasingly turning their attention to Australia. Our strong network of alliance partners throughout Asia, assist us to provide pre incorporation regulatory and tax advice assisting entry to our market. We have a regular exchange of Asia Pacific Regional Business Intelligence between our firms that assist clients to understand the prevailing regulatory and economic conditions as well as to identify specific opportunities. A recent meeting of our Asia Pacific Alliance firms in Sydney included a presentation from NSW Trade on investment opportunities and the workshopping of several live projects.

“A session on the projected change in the World’s top 50 cities by GDP over the next 25 years was particularly insightful. Gone from the list were a number of our well known European and North American trading partners replaced by hither to unknown regional centres from China and India.

“In addition to the large scale corporate investment characterized by the CPC transaction there is also plenty of activity in the mid-market. Just last week we conducted a meeting solely in Mandarin with a wealthy Chinese investor seeking to invest $10m per year into Australia.

“The continual rise of Asian economic dominance will not be short lived making it imperative that we have a strong and efficient conduit between our Alliance’s clients in each region.”

About CPC Chinese Petroleum Corporation, Taiwan (CPC) is the largest enterprise in the Republic of China with 14,843 employees. As a state run enterprise, CPC is responsible for the development and supply of petroleum and natural gas, and is the core of Taiwan’s petrochemical industry.

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IMAGES AVAILABLE ON REQUEST
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Prosperity Advisers


Prosperity Advisers is an accounting, assurance, business advisory, and wealth management firm with offices in Newcastle, Sydney and Brisbane. With over 130 staff, Prosperity provides services to sectors including Resources, Government, Professional Services, Medical and Property. Prosperity is an Australian Foundation Firm of the Leading Edge Alliance which has substantial on the ground representation throughout Asia.

Rebecca Wilson
P: 0408006176
W: www.prosperityadvisers.com.au

Prelude


The Prelude project is a project to build the world’s first FLNG facility at a cost in excess of $10 billion. TheFLNG facility itself will be 488m long and 74m wide, and when fully loaded will weigh around 600,000 tonnes - roughly six times as much as the largest aircraft carrier. The Prelude FLNG facility will produce at least 5.3 million tonnes per annum (mtpa) of liquids: 3.6 mtpa of LNG – enough to easily satisfy Hong Kong’s annual natural gas needs.

Keywords

Prosperity Advisers, Shell, Prelude, LNG, Asia, Business, China, Taiwan,

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