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Today Richina Pacific is an international organization with approximately 8,800 employees and more than 20 different nationalities from around the world brought together with the same vision and mission of building an international company that leverages the best the world has to offer and apply that to its Chinese operations. In 2003, RPL was one of the first companies in New Zealand to adopt the International Financial Reporting Standards (IFRS) for its financial reporting and its results are now only reported in US dollars, the principal operating and accounting currency of the majority of its businesses. In New Zealand, RPL’s business is conducted through its wholly-owned subsidiary Mainzeal Construction and Property Limited, a leading national construction company and property developer. In China, RPL conducts most of its business and owns its investments through Richina Pacific (China) Investment Limited, a wholly-owned China Holding Company (CHC). The Shanghai-registered CHC was one of the first CHCs to be granted Regional Headquarter status (RHQ) at the end of 2003. While the Board of RPL exercises its ultimate control through quarterly board meetings, the day-to-day activities of RPL are managed through a corporate team operating from Kuala Lumpur, Shanghai and Auckland. Operationally, RPL conducts its business activities grouped under three sectors, namely Richina Financial, Richina Land, and Richina Industries. Its central administrative and support functions are divided into Human Resources, Finance and Tax, Accounting and Audit, Legal, and Technology. Each of these functional areas not only provides support services to RPL’s subsidiaries and affiliates, but also provides consulting services to strategic and financial partners. |
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