Harvest Well definition
Examples of Harvest Well in a sentence
The Sale Share represents the entire issued share capital of Harvest Well.
Harvest Well is an investment holding company incorporated in the BVI on 2 July 2009 and is wholly owned by the Vendor.
The allocation among the fair value of the identifiable assets and liabilities of the Harvest Well Group may be subject to reassessment and changes upon Completion.
The Harvest Well Group is engaged in the business of licensed travel agent in Singapore.
The excess of the Consideration over the fair value of the identifiable assets and liabilities of the Harvest Well Group was recognised as goodwill in the pro forma financial statement in accordance with applicable financial reporting standards in Hong Kong.
Based on the review of the statutory records of Harvest Well by the Company and the due diligence report of the Company’s Singapore lawyer, the Company did not notice that the Harvest Well Group has any non-compliance history with the regulatory authorities.
The Company has made enquiries with auditors of the Company and understands that the accountants’ report on the Harvest Well Group adopted accounting policies which are materially consistent with those of the Company.
The following is the text of an accountant’s report on the Harvest Well Group received from the independent reporting accountants, ▇▇▇▇▇ & Young LLP, Public Accountants and Certified Public Accountants, for the purpose of inclusion in this circular.
Following Completion, Harvest Well will be accounted for as a wholly-owned subsidiary of the Company and the results of the Harvest Well Group will be consolidated into the financial statements of the Group.
The Harvest Well Group recorded audited profit before taxation and audited profit after taxation for the period from 2 July 2009 to 30 September 2010 of approximately HK$10.3 million and HK$8.2 million respectively.