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English to Chinese: Board Meeting Minutes General field: Bus/Financial Detailed field: Business/Commerce (general)
Source text - English ABC expressed appreciation that both shareholders have supported JQK very strongly over the years. However the continued losses incurred by JQK and supported by the fact that MES is no longer strategic to ABC, prompted ABC to consider rationalising its investment in JQK. Hence, the objective of the meeting is to discuss and identify a disposal plan that can be mutually agreed by both shareholders and the objective of the meeting is to assess ABC’s options to exit the collaboration.
XYZ expressed that similar to ABC, given its status it being as a state-owned enterprise ("SOE") and public listed corporation, they understand ABC’s position and rationales behind this decision. XYZ’s Proposal to ABC: An offshore SPV is to be set up as the holding company to which the equity shall be transferred to. The ultimate shareholder of this SPV shall be one of the business partners of XYZ, which is also an SOE in Henan. XYZ suggested that the consideration for the transfer shall be paid out of JQK's earnings over 10 years subsequent to signing of Sale and Purchase Agreement ("SPA"). During the period, the transferred equity shall be pledged to ABC as collateral.
ABC commented that the proposed 10-year repayment period is too long and it will not be approved by ABC’s Board and potentially also Central Bank of Malaysia will not approve. As a counter proposal, ABC is willing to consider a 3-years repayment plan with an upfront payment to shall be paid upon signing of SPA. Plus, the remaining payments must not rely on JQK’s future financial performance, and equity as security is not acceptable as it will involve ABC’s continuous oversight of JQK’s business. As would be required by Central Bank of Malaysia, ABC will require Bank Guarantee.
XYZ stated that due to lack of funding whether from XYZ or new partner's lack in interest to contribute in funds more than Net Tangible Asset (“NTA”) value, in reality the repayment to ABC will depend on JQK’s future earnings, and realistically 3 years will be too short. Bank Guarantee would be difficult as new partner will not agree to provide any, and XYZ cannot provide guarantee above its portion of equity interest.
Translation - Chinese ABC 表示感谢双方股东这些年来都非常支持JQK。然而，由于JQK的持续亏损以及MES不再是ABC的战略方向，促使ABC考虑销售其在奇宁的投资。因此，此会议的目的是讨论和确定一个可由双方共同认可让ABC退出的计划。
Chinese to English: Joint Venture Contract Clauses General field: Law/Patents Detailed field: Law: Contract(s)
Source text - Chinese 如任何一方（下称“违约方”）到期未能出资，则该方应就尚未缴付的款项向合资公司支付自应缴付之日至实际缴付之日期间的利息（单利），利率按百分之十（10%）的年利率计算。此外，另一方（下称“守约方”）可以通过书面通知催告违约方在收到该通知之日起的一（1）个月内缴付出资额。如果出资额在此期限内仍未缴付，守约方有权缴付该出资额并据此获得与该等出资相应的注册资本权益，或终止本合资合同，并且在任一情况下，守约方有权向违约方要求损害赔偿。本第5.3条的规定并不影响守约方根据本合资合同或适用法律法规的规定对违约方的不出资行为所享有的任何其他权利。
Translation - English If any Party fails to make its capital contribution when due (hereinafter referred to as the “Breaching Party”), it shall pay simple interest to the Joint Venture Company on the unpaid amount from the date due until the date such contribution is made at an annual rate of ten percent (10%). In addition, the other Party (hereinafter referred to as the “Non-Breaching Party”) may demand by written notice to the Breaching Party that the contribution be made within one (1) month from the date of receipt of such notice. If the contribution has not been made within this period, the Non-Breaching Party shall have the right to make such contribution and thereby acquire the equity interest in the registered capital corresponding to such contribution or to terminate this Joint Venture Contract, and in each case to claim damages from the Breaching Party. The provisions of this Article 5.3 shall not prejudice any other rights the Non-Breaching Party may have under this Joint Venture Contract or under applicable laws and regulations with respect to the Breaching Party's failure to contribute capital.
Subject to compliance with the relevant laws and regulations of China, any Party may transfer all or part of its equity interest in the registered capital of the Joint Venture Company to its wholly-owed subsidiary or a wholly-owned subsidiary of its parent company at any time during the Contract Term without consent of the other Party. Each Party hereby waives its right of first refusal to purchase such transfer of equity interest. The transfer of equity interest shall include a simultaneous transfer of the Party’s outstanding shareholder’s loans. Party B shall have the right to veto a transfer of the equity interest held by Party A to any Third Party that is a competitor of the SDB Group’s. The Joint Venture Company agrees that it will not effect the transfer nor will it treat any alleged transferee as the holder of the such equity interests purported to be transferred in violation of this Article 5.6(1).
To appoint or remove a Director (including the Chairman), a Party shall notify the other Party in writing. Appointments and removals of Directors shall become effective upon receipt of such notice by the other Party; provided, however, that a change of the Joint Venture Company’s legal representative shall not take effect until the relevant procedures required by the laws and regulations of China have been completed. Appointments and removals shall be filed with the Examination and Approval Authority for record and registered with the competent administration for industry and commerce to the extent required by law.
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Experience
Years of experience: 18. Registered at ProZ.com: Nov 2018.
I am a trilingual individual with a strong command of Chinese and English language. I began my studies in finance, with my bachelor's degree done in the UK and master's degree completed in Australia. I am involved in translating extensively throughout my working career due to my firm grasp of the languages. I have held investment and trading positions in one of the prominent Malaysian conglomerate group of companies.
Services Offered
Translation: Chinese > English, English > Chinese (average output per day: 4,000 source words)
Area of Specialisation:
Business / Commerce (General)
Accounting / Finance
Merger & Acquisition / Joint Ventures
International Trades / Shipments
Agriculture / Edible Oil Sector
Language Proficiency
English
Possessed strong command of the English language throughout primary school, secondary school, and universities.
Graduated top of the class in both bachelor's degree and master's degree, which are both taught and examined in English.
Fourteen years of English working environment in the office among colleagues and with the management.
Chinese
I grew up in all Mandarin-speaking family and attended National-type (Chinese) School throughout primary and secondary school.
Used written and verbal Chinese language with Chinese-nationality counterparts in 14 years of working life on China projects in various companies.
Education Background
Master of Finance, RMIT University (Australia)
Graduated with Distinction
B.A. (Hons) in Finance, University of Hertfordshire (UK)
Graduated First Class Honours
Professional Experience
Freelance Translator (2017 to Present)
Handle palm oil exports for China market.
Involved in Google/Amazon/Alibaba machine AI translation projects.
Translated for end clients such as Pinterest, Siemens, Nissan, Amway, MetrixLab, Ministry of National Development Singapore, other confidential companies in the FinTech industry, hospitals, survey companies, etc.
Translated/interpreted for court translators in Malaysia and New Zealand.
A Malaysian Agriculture Company - China Sales & Marketing (2009 - 2017)
Handled the translation task for all business-related materials for the company including but not limited to company profiles, licenses, corporate videos, PowerPoint presentations, product catalogues, sales contracts, shipment documents, financial statements, meeting minutes, various business correspondence, event emcee scripts, etc.
Translated legal documents for the company's collaborations and joint-ventures i.e., joint-venture contracts, memorandums of understanding, articles of association, etc.
Handled and translated business documents and license to be submitted to middle and high courts, and arbitration courts in P.R. China for the legal cases of the company.
Interpreted in shareholders' meetings and board meetings, and written bilingual meeting minutes and company documents.
Interpreted during high-level meetings and dealings between the company and various Chinese provincial level and municipal level governments (Party Secretaries, Mayors, etc.), and large state-owned enterprises (COFCO Group, Sinograin, Chinatex, etc.).
A Malaysian Conglomerate - Corporate Finance (China Investment) (2008 to 2009)
Translated memorandums of understanding, joint-venture contracts, articles of associations, collaboration agreements, project presentation materials, correspondence, emcee scripts.
Interpreted during Chinese officials' visits, and being bilingual emcee during signing ceremonies.
A Malaysian Education Group - China Projects (2005 to 2008)
Translated memorandums of understandings, licensing/franchising agreements, transcripts of meeting minutes, various business correspondence.
Served as a junior accountant of the three subsidiaries of the group, produced bilingual financial statements and translations of all finance-related communication and presentation, including handling audit firms from China.
Interpreted during meetings and dealings between the company and various universities from China.
Work samples are available upon request.
Keywords: chinese, english, contract, sales contract, JV contract, company profile, business presentation
Expertise