Company: GINT
Filing Date: 2025-05-19
Form Type: DRS/A
Source: 0001213900-25-045183
Chunk: 137

Company: Gifts International Holdings Ltd
Filing Date: 2025-05-19
Form: DRS/A
Chunk 137
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 cyber security boosts consumer confidence in online payment. At the same time, the emergence of third -partypayment companies which offer different payment solutions and escrow services, improve customer satisfaction on online shopping processes. To be competitive in the market, constant capital investment to upgrade to cutting -edgeordering platform is essential. Good reputation The service providers in the consumable corporate gifting industry significantly rely on reputation. In Hong Kong, any dissatisfaction from the customers in connection with the services provided may result in negative comments on social media or negative publicity against the service providers. Therefore, service providers’ large corporation clientele, vast variety of selection, reputation and network of vendors in the consumable corporate gifting industry are quite important for gaining customers’ trust. Opportunities and Challenges of Consumable Corporate Gifting Industry in Hong Kong Prevention of Bribery Ordinance Hong Kong’s Prevention of Bribery Ordinance (POBO) uses the word “advantage” instead of “bribe”. Section 9 of the POBO states that an employee of a private company cannot solicit or accept any advantage in relation to his employer’s business without the permission of his employer. Custom is not a reasonable excuse for accepting an advantage. Under Civil Service Regulation 444 (2), gifts offered to a civil servant by the official position are regarded as advantages to the department in which the officer works. In circumstances where it is considered inappropriate to return the gifts to the donor, the officer should report and hand over to the department the gifts received for disposal. Also under section 4 of the POBO, a Government officer soliciting or accepting any advantage as an inducement, reward or reason for abusing his official power or position in his official capacity shall be guilty of an offense with a maximum fine of HK$500,000 and imprisonment for 7 years. An advantage becomes a bribe when there is an illegitimate purpose linked to the offer, solicitation or acceptance. The advantage is widely drafted to capture all of the usual acts commonly associated with a bribe, including gifts of goods or money, loans, services, contracts, employment, the exercise or forbearance of exercise of certain rights, favors and discharge of liability in whole or in part. There is no de minimis threshold. According to the POBO, advantage refers to anything that is of value. such as money, gift, commission, loan, employment, service or favor, except entertainment. Whereas entertainment refers to the provision of food or drink for consumption on the occasion when it is provided, and any other entertainment connected with