Latest news with #CLG
New Paper
21-05-2025
- Business
- New Paper
Epigram Books becomes non-profit Epigram Literary Foundation
Home-grown publisher Epigram Books has restructured to become Epigram Literary Foundation, a non-profit entity that it hopes could help it convince more donors to loosen their purse strings. The public company limited by guarantee, or CLG, was incorporated with the Accounting and Corporate Regulatory Authority (Acra) on May 1. This is the latest bid by Epigram to keep operations sustainable, after it collaborated with seven other Singapore indie booksellers to launch online bookstore A CLG differs from a private limited company, where maximising profit for shareholders is the goal of the company. For a CLG, any surplus is meant to be reinvested into the organisation, and they are generally seen to be more credible, requiring approval from Acra that it is serving some public or national interest - in this case, the promotion of the arts. Founder Edmund Wee, 72, said he had been pondering the move for over a year, but had always been told by lawyers that the restructuring would be difficult until he received the right advice. Profits have always been meagre, and he has not paid himself a dividend in the 14 years he has run Epigram - so not much would change in that respect, he told The Straits Times. A CLG, if it encourages businesses aligned with its mission to contribute - possibly as part of their corporate social responsibility programmes - could create an endowment so that it generates significant enough money interest to aid cash flow. Mr Wee said: "Publishing is getting harder and harder, and I can't borrow from the bank any more now that I'm past 70. I cannot go around to ask for $50,000 or $60,000 every year. I'm hoping for a bigger lump sum." To bolster Epigram Literary Foundation's credibility and set donors' minds at ease, he has enlisted nine dignitaries to sit on an advisory council. They are former diplomats Tommy Koh and Kishore Mahbubani; historian Wang Gungwu; former chief economist of GIC Yeoh Lam Keong; special research adviser at the Institute of Policy Studies Arun Mahizhnan; Mr Robert Tomlin, vice-chairman of the Asian arm of investment firm Lepercq de Neuflize; Dr Hong Hai, emeritus professor of business at Nanyang Technological University; former chairman of The Substation and consultant in philanthropy Chew Keng Chuan; and author Meira Chand. Mr Wee said: "I'm hoping that they will give the non-profit more standing so that when I go see companies, they are more willing to donate. I had the choice to drastically reduce the outfit so Epigram publishes only three or four books a year, but I didn't want to do that. There's nobody in the ecosystem now publishing Singapore fiction like us. I find that terrible." Epigram Books hosts the annual Epigram Fiction Books Prize, which awards the winner a $25,000 cash prize and a publishing contract. Three other finalists each receive $5,000 and a publishing contract. It is the richest pot dedicated to unpublished literary manuscripts in Singapore. Mr Wee said he is also working with partners to start a regional book prize for Asean, with a long-term launch date for probably 2027 or later. In theory, the change to a CLG structure should not affect the salaries of its 13 full-time and two part-time employees, but this will depend on how much can be raised, he added. Epigram is Singapore's largest independent book publisher, publishing upwards of 50 titles a year. Notable titles in its stable include the Eisner-award winning The Art Of Charlie Chan Hock Chye (2015) by Sonny Liew, Jeremy Tiang's State Of Emergency (2017) and Meihan Boey's The Formidable Miss Cassidy (2021). All three have secured releases in countries outside Singapore, boosting the Republic's global literary footprint.
Straits Times
20-05-2025
- Business
- Straits Times
Epigram Books becomes non-profit Epigram Literary Foundation, sets up expert advisory panel
SINGAPORE – Homegrown publisher Epigram Books has restructured to become Epigram Literary Foundation, a non-profit entity that it hopes could help it convince more donors to loosen their purse strings. The public company limited by guarantee, or CLG, was incorporated with the Accounting and Corporate Regulatory Authority (Acra) on May 1. This is the latest bid by Epigram to keep operations sustainable, after it collaborated with seven other Singapore indie booksellers to launch online bookstore A CLG differs from a private limited company where maximising profit for shareholders is the avowed goal of the company. Any surplus is meant to be reinvested into the organisation, and they are generally seen to be more credible, requiring approval from Acra that it is serving some public or national interest, in this case the promotion of the arts. Founder Edmund Wee said he had been pondering the move for over a year, but had always been told by lawyers that the restructuring would be difficult until he received the 'right advice'. Profits have always been meagre, and he has not paid himself a dividend in the 14 years he has run Epigram – so not much would change in that respect, he told The Straits Times. A CLG, if it encourages businesses aligned with its mission to contribute – possibly as part of their corporate social responsibility programmes – could create an endowment so that it generates significant enough money interest to aid cash flow. Mr Wee, 72, said: 'Publishing is getting harder and harder and I can't borrow from the bank anymore now that I'm past 70. I cannot go around to ask for $50,000 or $60,000 every year. I'm hoping for a bigger lump sum.' To bolster Epigram Literary Foundation's credibility and set donors' minds at ease, he has enlisted nine dignitaries to sit on an advisory council. They are former diplomats Tommy Koh and Kishore Mahbubani; historian Wang Gungwu; former chief economist of GIC Yeoh Lam Keong; special research adviser at the Institute of Policy Studies Arun Mahizhnan; vice-chairman of the Asian arm of investment firm Lepercq de Neuflize, Mr Robert Tomlin; Dr Hong Hai, emeritus professor of business at the Nanyang Technological University; former chairman of The Substation and consultant in philanthropy Chew Keng Chuan; and author Meira Chand. Mr Wee said: 'I'm hoping that they will give the non-profit more standing so that when I go see companies, they are more willing to donate. I had the choice to drastically reduce the outfit so Epigram publishes only three or four books a year, but I didn't want to do that – there's nobody in the ecosystem now publishing Singapore fiction like us. I find that terrible.' Epigram Books hosts the annual Epigram Fiction Books Prize, which awards the winner a $25,000 cash prize and a publishing contract. Three other finalists also each receive $5,000 and a publishing contract. It is the richest pot dedicated to unpublished literary manuscripts in Singapore. Mr Wee said he is also currently working with partners to start a regional book prize for Asean, with a long-term launch date for probably 2027 or later. In theory, the change to a CLG structure should not affect the salaries of its 13 full-time and two part-time employees, but this 'will depend a lot on how much funds can be raised', he added. Epigram is Singapore's largest independent book publisher, publishing upwards of 50 titles a year. Notable titles in its stable include the Eisner-award winning The Art Of Charlie Chan Hock Chye (2015) by Sonny Liew, Jeremy Tiang's State Of Emergency (2017) and Meihan Boey's The Formidable Miss Cassidy (2021). All three have secured releases in countries outside Singapore, boosting the Republic's global literary footprint. Join ST's Telegram channel and get the latest breaking news delivered to you.
Irish Times
19-05-2025
- Business
- Irish Times
What's the best structure to manage the common area of our small development?
A few years ago, I purchased a town house in a small infill development of just four houses. The developer left an owners' management company (OMC) in place to manage the common area, which consists of a tarmacadamed drive giving access to the houses, a turnaround space and three parking spaces, as well as boundary fencing and a small amount of shrubbery. This common area is owned by the OMC. After the sale of the houses, the four owners became directors of the OMC, which is a company limited by guarantee (CLG). One of the owners had been taking care of the documentation and Companies Registration Office (CRO) filings associated with the CLG, but they are now no longer in a position to continue. They are also of the view that there is far too much work involved in maintaining a CLG when our needs are so minimal; we only need public liability insurance for our common area. Is there any other kind of structure that might accommodate our needs without the requirement to make annual returns to the CRO? If there isn't, is there a template for a CLG that could be adopted to assist in making the annual returns to the CRO? Alternatively, might it be possible for each householder to include the common area for public liability in their individual house insurance policy? READ MORE The query you raise is a very interesting one. The suitability of a CLG to manage the affairs of a multi-unit development that comprises a small number of units sharing a common area such as yours, was first considered by the Law Reform Commission in a consultation paper in 2006. This consultation paper was the prelude to the enactment of the Multi-Unit Developments Act 2011. The commission identified that the concept of limited liability was of clear advantage to OMC members. The main benefits for owners that flow from an OMC being established under the companies acts are that each owner has an input into how their property is taken care of in decision-making and in controlling the costs of common services. This input is exercised by the power of the members to elect their fellow members on to the board of directors, which has ultimate decision-making powers in the company. In assessing the need for the existence of the OMC, it concluded that the alternative – where the common areas would be co-owned by all the owners in their personal capacities – would be impractical. For example, consider the arrangements which would need to be put in place for the provision of common services via the hiring of contractors and the signing of contracts to carry out works. In that scenario, each of the owners would be jointly and severally liable in their personal capacities for all areas, including contract law and health-and-safety law. [ I'm worried about our home being devalued because our neighbour's trees block light. What can we do? Opens in new window ] That said, OMCs are not a requirement of company law and there exists other arrangements and structures for the purposes of discharging similar functions to that of an OMC, such as housing co-operative societies and co-ownership agreements. In some developments co-ownership agreements,similar to residents' associations, exist and form the basis for the ownership of common areas and the organisation of shared services. Co-ownership agreements are rooted in the laws of contract and private property rather than in any particular act or acts of the Oireachtas and unlike the OMC and housing co-operatives, they do not involve an incorporated structure. Aisling Keenan is a property managing agent, consultant and an associate member of the Society of Chartered Surveyors Ireland Housing co-operative societies have their origins in the local self-help movement which dates back to the 1950s in Ireland. The objective of this movement was to provide affordable homes for their members. The Law Reform Commission concluded that this informal type of arrangement was not a suitable structure for the long-term security of property rights for owners. In your situation, I believe there are probably good and valid reasons why the OMC that was set up to run your small MUD was established as a CLG. While, as stated above, it may be possible to consider other structures, I believe in your situation it would only serve to weaken the property rights of each of the four owners. An owner may take the view that there is far too much work involved in maintaining the management company, but owners should consider such a position in the context of the value of the property and how negatively this can be affected when the management company fails. In addition to this, the cost of rectifying a failed company can be prohibitively expensive and so it could be more costly to not have the right structure in place. The day-to-day management for small OMCs will work well where one or more of the owners take on the work themselves. However, when there is no one to do this, it is problematic as the cost of employing a managing agent could be prohibitive. Then there is the question of finding an agent who would be willing to take on a small OMC, as many agents will only work with larger OMCs. There is no one template for running an OMC that fits all, but an OMC may create their own template and set out the tasks with dates, deadlines, reminders and obligations. The creation of a simple system will be the key to the solution here. [ Some of my neighbour's planning application appears to be factually incorrect. How can I raise this? Opens in new window ] There are numerous resources available for owners to assist with this. The Housing Agency is a Government body and has a dedicated MUD section which has an abundance of information and resources available to assist owners with this. Their website contains links to publications, answers to frequently asked questions, training webinars and lots of other information. The Apartment Owners' Network is a voluntary body that advocates on behalf of owners in multi-unit developments and OMCs around the country. Their website includes a knowledge library with a vast amount of information. Including the common areas on the insurance policies for the four houses does not address the problem in this case because the ownership and property rights for each owner involve so much more than just insurance. The owner who has been managing the affairs of the CLG will have an intimate knowledge of what is involved in running the affairs of the company and so getting detailed handover notes and availing of that experience will be key for the future. Rather than changing the structure from a CLG, perhaps the way forward is to view the handover as an opportunity to do things differently and to share the work on an equitable basis. For example, each of the other three owners might agree to take on the administration of the CLG for a year in turn or to divide up the work so that each takes on responsibility for certain tasks each year. In a collective responsibility arrangement such as an OMC, many hands make light work. Aisling Keenan is a property managing agent, consultant and an associate member of the Society of Chartered Surveyors Ireland Do you have a query? Email propertyquestions@ This column is a readers' service. The content of the Property Clinic is provided for general information only. It is not intended as advice on which readers should rely. Professional or specialist advice should be obtained before persons take or refrain from any action on the basis of the content. The Irish Times and it contributors will not be liable for any loss or damage arising from reliance on any content
Zawya
03-04-2025
- Business
- Zawya
Centurion Law Group (CLG) Granted CEMAC Tax Accreditation, Reinforcing Position as Regional Legal Partner
Legal, tax and business advisory conglomerate CLG ( - formerly Centurion Law Group – has officially been approved as a Central African Economic and Monetary Community (CEMAC) tax advisor by the CEMAC Standing Committee on Fiscal and Accounting Harmonization. CLG Tax and Legal will provide its full suite of tax services across all CEMAC member countries, supporting business and transactions across various strategic fields, including oil, gas and mining. The tax certification not only comes as part of a broader restructuring of CLG's tax and legal services offerings, aimed at positioning the firm to better serve clients throughout the region with integrated solutions, but as the CEMAC region pursues accelerated growth across its strategic economic sectors. Specifically, the region's oil and gas sector is on track for rapid growth, as nations implement ambitious production targets. The Republic of Congo aims to produce 500,000 barrels per day (bpd) by 2027; Gabon targets 220,000 bpd in the short-term; while Equatorial Guinea and Cameroon are scaling-up gas monetization. These targets require significant levels of investment and CLG stands ready to support transactions and broader economic growth. Given the potential of the CEMAC region's natural and mineral resources, project developers and investors have already begun to expand their presence across the region. In the Republic of Congo, TotalEnergies is investing $600 million in the Moho Nord project; Trident Energy recently acquired stakes in the Nkossa, Nsoko II, Lianzi and Moho-Bilondo fields; while Perenco increased production at the Tchibouela II and Tchendo II fields following a $30 million investment. In Gabon, wildcat drilling is underway on Blocks BC-9 and BCD-10 while Perenco advances the $1 billion Cap Lopez LNG terminal toward a 2026 start. In Equatorial Guinea, the country is preparing to launch an oil and gas licensing round while Cameroon drives a gas-to-industry agenda. Further developments in Chad are underway, highlighting the region's potential as a major producing hub. Stepping into this picture, CLG's accreditation will serve to further support current and future transactions. Over the past decade, CLG has significantly grown its tax practice, providing comprehensive tax advisory and compliance services to numerous multinational companies operating across Africa. This sustained growth reflects CLG's commitment to meeting the complex tax needs of investors and businesses on the continent, from corporate tax planning and regulatory compliance to cross-border taxation strategies. 'By bolstering our tax practice in the CEMAC region, CLG continues to establish itself as a one-stop-shop for investors in the region and across the continent. The CEMAC accreditation aligns with our strategy to support impactful transactions in Africa and we look forward to strengthening our presence across the continent,' stated Zion Adeoye, CEO and Managing Partner of CLG. CLG already has a strong presence in Africa, with offices in South Africa, Nigeria, Mauritius, Ghana, the Republic of Congo, Cameroon, Equatorial Guinea, Namibia and South Sudan. The company caters to a diverse portfolio of multinational companies operating globally, delivering bespoke solutions tailored to address the unique challenges and complexities faced by clients in different industries. CLG's expertise covers energy, infrastructure, mining, agriculture and ESG, to name a few. For the CEMAC region, CLG's extensive network and growing expertise positions the firm as strategic partner for regional and global firms. As companies expand their presence across the region, CLG's agile, integrated approach - underpinned by its local roots and depth of experience - demonstrates the rising prominence of African advisory firms on the global stage. The CEMAC tax certification not only expands CLG's regional service coverage but also solidifies its reputation as a trusted partner for businesses navigating Central Africa's evolving tax landscape. 'CLG's deep understanding of its clients' businesses, collaborative approach with local authorities, multinational orientation and highly experienced local teams are some of the factors that set our tax practice apart in the region,' stated Daoudou Mohammed, CLG Tax and Legal Director. Distributed by APO Group on behalf of CLG.
Zawya
24-03-2025
- Business
- Zawya
Congo Energy & Investment Forum (CEIF): CLG Workshop Offers Insight into Congo's Legal Framework
Pan-African legal firm CLG – formerly Centurion Law Group – led a workshop during the inaugural Congo Energy&Investment Forum (CEIF) on the country's legal and fiscal frameworks. The workshop – Mastering Business in Congo: Challenges and Strategic Solutions for Success – delved into strategies investors can deploy to navigate the Republic of Congo's business environment as the country prepares to launch an international licensing round. As a leading provider of specialized legal and tax advisory services, CLG – a Legal Partner of CEIF 2025 - caters to a diverse portfolio of multinational energy companies. With offices in the Republic of Congo, Germany, South Africa, Nigeria, Mauritius, Ghana, Cameroon, Equatorial Guinea, Namibia and South Sudan, the firm delivers bespoke solutions for a variety of challenges faced by oil and gas companies. The CLG workshop underscored how the firm's expertise can support oil and gas projects in the Republic of Congo as the country targets 500,000 barrels per day of oil. 'Our goal is to provide solutions by interpreting regulations, ensuring companies can operate freely. We have advisors across several African countries,' stated Zion Adeoye, CEO and Group Managing Partner, CLG. The country's strong Central African presence and deep knowledge of the associated legal frameworks gives it an edge in the region's energy landscape. According to Yves Ollivier, Managing Director, CLG Congo, the firm's services in the region include M&A transactions, due diligence, legal secretariat services for oil and gas companies and expertise in intellectual property and immigration laws. 'We provide legal opinions in various fields, including employment law, corporate structuring and contract negotiations,' he explained. In addition to these services, CLG has strong expertise in taxation. Daoudou Mohammad, Director: Tax and Legal, CLG Congo, explained that the firm assists companies with tax compliance, fiscal advisory services and global tax audits. 'We conduct comprehensive tax reviews and offer targeted training upon request,' he said. For the Republic of Congo, these services will play a key role in facilitating investment, advancing projects and realizing the country's energy production goals. Given the complexity of the oil and gas sector, understanding the potential challenges associated with the industry is vital. Oneyka Cindy Ojogbo, Deputy Managing Director&Partner, CLG, explained that, 'Understanding all contractual details is crucial, especially in the gas sector. We have encountered cases where disputes arose due to poorly negotiated agreements. Anticipating potential legal issues is key to mitigating risks.' Additional challenges include misunderstanding of the requisite taxation laws. Mohammad pointed out that many companies fail to consider available tax exemptions, leading to missed opportunities for fiscal optimization. 'A thorough assessment of tax incentives can significantly reduce financial burdens. Companies should proactively evaluate their eligibility for exemptions,' he advised. Distributed by APO Group on behalf of Energy Capital&Power. The inaugural Congo Energy&Investment Forum, set for March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.
