CLP Bluecrest Fund Bonds: Now listed on the SECDEX Exchange
Dec 9, 2021
We are pleased to announce that Cap Lion Point Ltd.
has successfully listed the bonds of CLP Bluecrest Fund Ltd on SECDEX EXCHANGE in Seychelles. The listing of the 400 bonds at 100’000 USD was done in cooperation with Hensley&Cook, a registered sponsor of SECDEX. All bonds are successfully placed and subscribed already.
, as a registered sponsor of SECDEX, has assisted Cap Lion Point in the listing application of the bonds of the CLP Bluecrest Fund at SECDEX EXCHANGE. Hensley&Cook ensured, that the listing of the bonds with a face value of 40 million USD was completed smoothly and within the given timeframe.
CRESCO Power Receives the Philippine Department of Energy Pre-Approval for the Construction of 2.3 MW Solar Power Plant in Plaridel, Misamis Occidental.
July 29, 2021
Plaridel, Misamis Occidental, Philippines – CRESCO Power
has received the pre-approval from the Philippine Department of Energy
with RE-Blocking for the construction of a 2.3 MW solar power plant in Plaridel, Misamis Occidental.
This is the first step in the process of getting all the approvals in place for the construction of a photovoltaic plant, that will help to address the energy shortage in an area of Misamis Occidental. It will also allow the electric cooperative MOELCI to be more in line with governmental requirements in regards to the use of renewable energy.
The project team consisting of the companies CRESCO Power, RECOM and Caracal plan to install the solar panels along the 2.5 km seawall in Plaridel, using bi-facial PV modules to profit from the reflection of the sunlight in the sea, that will be turned into energy as well.
The project team thanks the local community and government for the positive feedback and the support shown in the first phase of the project. A Distribution Impact Study, that shows the compatibility of the project with the local power grid, is ongoing and expected to be finished in the coming days.
The project is aesthetically pleasing and is adapted to local challenges like wind and saltwater. The local community will not only profit from better energy coverage but will also see the seawall improved for leisure use with new streetlights and no obstructions on the walkway. Local employees will help with building and maintaining the solar power plant.
Winfel Faith Tabalba
Marketing & Communications Assistant
Seychelles’ Financial Services Division Launched a New Committee To Magnify its Financial Services Sector.
May 10, 2021
Seychelles International Financial Services Association (SIFSA) took part in its kicked-off meeting, of which Hensley&Cook is an active member of the association.
The government of Seychelles is putting greater attention to its financial sector as a vital pillar of the economy. Various financial departments met on the 27th April 2021 to discuss the creation of a new committee. Headed by Naadir Hassan, the country’s Minister for Finance Economic Planning and Trade, addressing the members, “By reforming the sector which is dynamic and keeps moving, we need to adapt in order to stay relevant to new circumstances,” said Hassan.
These reforms will enable Seychelles financial sector to survive, thrive, and contribute to the wealth of the country. The initial call to reform the sector was made following his February 2021 budget speech in the National Assembly.
The new committee will consist of 10 members which include representatives from this organisation, noting that SIFSA represents 2 members:
Ministry of Finance
Financial Services Authority (FSA)
Seychelles Revenue Commission (SRC)
Central Bank Seychelles (CBS)
Seychelles International Financial Services Association (SIFSA)
Seychelles Bankers Association
Seychelles Chamber of Commerce and Industry (SCCI)
Securities Exchange and Insurers Association of Seychelles
Ending the meeting, Naadir Hassan emphasised the work on strict compliance that mirrors the country’s reputation and should be given more importance. With the creation of the new committee, he is confident that the financial services sector of the country will foster economic growth.
CRESCO Holding Group Partakes for Greener Planet in Celebration of Earth Day 2021
April 22, 2021
CRESCO Holding Group joins in the celebration of the humanities’ movement towards a greener, more sustainable future that protects and supports every living thing on earth.
May this special day serve the wonderful purpose of getting the world excited about protecting our planet. At Sadiqa, we practice small initiatives which have an impact on our environment. We challenge ourselves to raise awareness, become involved and influence others to do the same.
We support energy efficiency in the workplace, effective recycling and awareness of climate change. We are slowly working towards a paperless office, recycling old files turned into digital archives, reusing old toner cartridges, turning off the lights when not in use, using the air-conditioning less on cooler months, replacing old light bulbs with newer LED energy-saving ones.
Although these are just basic ways on how we contribute to protecting our planet, we urge everyone to make these practices an everyday habit not only in the workplace but also in our homes.
Leading In A Time of Crisis: A CRESCO Special Blog
April 19, 2021
We all live through storms throughout our lives, some little, some in gigantic proportions we call “perfect storm”. Most of the time, we come out on the other side a little bruised but always stronger.
To leaders and warriors – hard times are life’s richest times of growth, opportunity, and possibility – Robin Sharma.
There is always an opportunity in every crisis, and the deeper the crisis, the better the opportunity can be.
In the time of COVID, where humanity is experiencing unfathomable damage to human lives and the economy, it resonates more powerfully than ever.
The current situation presents a challenge for leaders across industries all over the world to navigate uncharted waters. They say the real test of leadership does not occur when everything is smooth sailing. Rather, leadership is often tested during a crisis.
One year into the Corona Virus crisis and many businesses still struggled to survive stressful work situations. As per statistics, 7 out of 10 employees indicated that this pandemic is the most stressful time of their entire professional career.
There is no handy manual that can guide leaders through this pandemic; I have briefly pointed out below four simple traits that are for me very essential to at least make the journey a bearable one.
Contrary to popular belief that humility is associated with self-doubt, it takes true confidence to show vulnerability, especially during times of great uncertainty, to people who look up to you for guidance.
Recognizing and accepting that we all make mistakes, our fallibility is powerful.
Being able to acknowledge that we are all flawed and imperfect humanizes the organization – and that’s okay. It minimizes relationship tension at work. Leaders should be able to cut themselves and the staff some slack in this crisis. Just let small stuff go.
Promotes openness, living in the moment with confidence and conviction. Authenticity during crisis plays a vital role in inspiring those who look up to you for decisions and perspectives.
It’s the ability of a leader to come across as genuine, leading with the right mix of heart and mind.
Providing a compassionate response to a stressful situation encourages a sense of solidarity for the whole organization.
Calm And Collected
With uncertainty at an all-time high, the unpredictability of the COVID situation, self-doubt arises in all of us.
No matter how experienced and strong we think we might be, the current situation poses an immense challenge to remain calm.
How to stay calm and stop the tendency to overthink? Embrace uncertainty, embrace the chaos, accept and take action by moving forward.
Taking action, taking that step forward, gives you some level of control in your life.
Optimism is often referred to as the part where everything seems easier said than done. After all, how does one stay positive when everything that could possibly go wrong is actually happening? This is not blindly ignoring what’s in front of us, but keeping a game face on while waiting for the worst of the situation to pass.
As the famous Hellen Adams Keller once said, “Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence”. It’s critical to keep in mind that positive thinkers are creative masterminds who can recuperate from misfortunes. Just keep your head high and see every difficulty as a learning opportunity.
At the end of the day, while we cannot change much of what is going on around us, we can always calibrate our inner self.
Better, Easier and Convenient: OfficeRock.com Platform Website Facelift
March 31, 2021
OfficeRock.com version 2.0 is here! with the use of Magento 2, customers user experience either on desktop or mobile device is better and improved. Website loading speed runs faster than the standard providing our customers primary product search to load in just a click.
Ordering online is more efficient with engaging product listings, quick, and hassle-free checkout steps are just some of the advantages that our customers can expect.
Aside from that, it is very safe and secure protecting hackers attacks to the website built by Magento 2, due to its SHA-256 feature (Secure Hash Algorithm 256) for passwords, this makes it less possible for a dictionary attack to succeed. Magento 2 also comes with the fraud protection system called Signifyd. This system allows the platform to determine and reject orders that seem to be scams and deliver 100% chargeback protection.
Our sister company, CRESCO Software Technology is well known for providing IT software and security solutions in the region. They ensure the platform is set-up and configured with a cyber-security strategy.
OfficeRock.com runs by Lionsrock General Trading company specialises in importing goods to the UAE. They have been strongly supported by the company to procure and import over 3000 products online.
To know more, visit OfficeRock.com
The UAE is in mourning on the passing of Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai and Minister of Finance
24 March 2021
Our deepest sympathy and sincere condolences to the honourable Al Maktoum family and relatives on the passing of Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai and Minister of Finance, who died on Wednesday.
The whole country is united in grief at such an unspeakable loss of the minister of finance, who was brother to His Highness Sheikh Mohammed bin Rashid.
CRESCO and OfficeRock.com Attended the First Philippine Business Council – Executive Club Meeting
11 March 2021
CRESCO and OfficeRock.com were privileged to be part of the 1st Philippine Business Council – Dubai & Northern Emirates – Executive Club Meeting and have the opportunity to meet with new members. It was a great pleasure to meet and talk to the Philippine Consul General, H.E. Paul Raymund Cortes.
The meeting was attended by Filipino CEO’s, Decision Makers, Business Owners and Entrepreneurs aimed to bridge businesses, build relationships, participate in the current business and corporate conversation, discuss and share best practices and explore opportunities for engaging and leveraging market.
Bawbawon Hospitality Group Opens Hotel Bijoux
7 March 2021
A new addition to the hospitality brand soft launches its first star rated hotel, a sister company of CRESCO Holding
Plaridel, Misamis Occidental, Philippines – In time for the Philippine Inter-Agency Task Force (IATF’s ) mandate on implementing uniformed travel guidelines in all provinces within the country and the lifting of quarantine protocols, Hotel Bijoux soft launches the first Hotel in Misamis Occidental aiming for the first star rated hotel in the region under Department Of Tourism (DOT) accreditation.
Hotel Bijoux with its tagline Jewel of Plaridel, is built to serve the growing patrons after the successful launch of Le Bistro and Bawbawon Beach Resort all under Bawbawon Hospitality Group umbrella. The hotel is located 100 meters away from the main port of Plaridel and nestled in the same building as the famous Le Bistro, it is located in the heart of the town easily available for travelers either traveling through or discovering Misamis Occidental and other adjacent tourist spots like Bohol, Siquijor, and Cebu.
As we promote local tourism at the height of the world recovering from a global pandemic, Hotel Bijoux is designed for the new normal with its facilities and operation tailored to address optimal health standards all while upholding the signature Bawbawon Hospitality. At Hotel Bijoux, we provide our local and international guests with high-end care mirroring the well-known Filipino warmth and values,” said Anthony Verdida, Bawbawon Hospitality Group’s Managing Director.
Hotel Bijoux is placed in a strategic rural location, well accessible and close to relevant business centers and major transportations. Like its sister brands, Le Bistro and Bawbawon Beach Resort, it is powered by small businesses and local entrepreneurs and communities. With a mission to create experiences for tourists, local, regional and International in the small town of Plaridel, opening new opportunities for the local communities and eventually putting Plaridel on the map as one of the top tourist destinations in the Philippines
The hotel rooms are elegantly furnished with French inspired accents, each room has its own story to tell. It is inspired by modern but comfortable style, enriched with Filipino touches of locally made furnitures. The hotel is equipped with 24/7 security cameras wifi access, air conditioning and convenient parking our service offerings include room service with appetizing meals cooked and prepared at Le Bistro, spa treatments, Bawbawon Beach Resort day tours and water sports activities.
“These are exciting times and we are excited to welcome you at the newest gem in town. Hotel Bijoux- Jewel of Plaridel”, Anthony also added.
Hensley&Cook Strengthen its Full-Suit Business Solutions with Seychelles Fund Administrator License.
February 14, 2021
The Mutual Fund and Hedge Fund Act of 2008 states that only a licensed regulated entity can administer mutual funds. As one of the few license holder in Seychelles, Hensley&Cook boost its client’s confidence towards handling a full range of fund administration services associated with Investment fund setup and administration according to individual requirements including support for both regulated and unregulated funds.
Transparency and confidence are the key factors that clients are looking into a service partner especially in handling financial and investment matters. With this license, options expanded for clients which the team effectively matches clients’ requirements.
Seychelles enjoys a stable political and economic climate with a robust and sophisticated Capital Markets Systems. With a responsive Regulator and a flexible Mutual Fund law, this has allowed for the possibility for example to have multiple sub-funds to exist within the overall fund structure, making it more strategic, less expensive and providing ease for investors to switch from one fund to another. We can even go a step further and list your Fund on the Local Stock Exchange as an accredited sponsor.
If you are looking for expert advice, end-to-end solutions on fund entity setup, Hensley&Cook
Seychelles can provide the required solutions based on your requirements.
Our team of professionals not only has the knowledge but offers efficient fund solutions across a range of asset classes.
Hensley&Cook serves clients across UAE, Seychelles, the Philippines and Singapore. We offer a full-suite business solution that facilitates the incorporation and management of companies to a number of different jurisdictions through a well-established network of partner companies.
CRESCO Power Wall Structure Testing Kicked Off as Part of Massive Project’s Pre-Approval Process
February 11, 2021
project in Plaridel, Misamis Occidental kicked off with their preparation with the use of rebound testing, a part of the building structure pre-approval processes.
With this upcoming project, CRESCO Power will deploy solar power, and tap more green energy which is first in the entire region of Misamis Occidental. This project will not only power the communities, businesses and tourism, but it will also make a real difference to the great global challenge of climate change.
Plaridel might be a small town and frequently encountering power supply shortage and soon pressing on the use of a renewable energy solution for sustainable development. CRESCO Power is working closely with the LGU and with the Department of Energy’s mission towards National Energy Renewable Program (NREP) which aims to double its power generation capacity by 2030 to support a growing economy, relying heavily on coal and renewable energy.
The NREP also sets out indicative interim targets for the delivery of renewable energy within the timeframe of 2011 to 2030. By the coming years, all nation including Plaridel a small town in Misamis occidental will secure a better future that will benefit the next generations.
Bawbawon Hospitality Group, sister company of CRESCO Holding, Extends Its Commitment To Sustainable Development
February 8, 2021
Dubai, UAE – With the world and island life in particular being under attack with the impact of global warming, it is critical that islanders demonstrate their own commitment to sustainable development and lead the way for the rest of humanity. Our vision of eco-tourism is based on just that.
Guests and tourists from neighboring towns board the boats that bring them to the island to enjoy the refreshing air and relaxing beach. Away from the city’s air pollution, they want to get rid of transportation’s smoke pollution to follow them to Bawbawon. We have joined forces with Selcoms DWC LLC and BOOSTplus to ensure that everything that has to use fossil fuel and in particular diesel. With this, every boat that arrives, resides or departs our island will be as near emission free as possible keeping our air on the island as natural and clean as we can.
With BOOSTplus we will not only reduce our cost base of diesel fuel consumption by an average of 20%, but will also reduce our carbon emissions (CO2) by the same amount. The most critical factor to deploy BOOSTplus is the reduction in particulate emissions on all our transport and power systems of between 60% and 80%. This will mean that from the time our guests board our ferries and cross to our island, they do so with only 80% of the previous carbon footprint and without polluting the air with particulate emissions. They leave the smog, city pollution and smells of diesel fumes behind to enjoy pure fresh air for the duration of their visit to give their lungs a holiday and time to recuperate as well.
Being island-based means everything has to be transported in. Being able to reduce our fuel consumption so significantly has meant a reduction in our operating expenses that enabled us to accelerate our investment in renewable energy and local employment with the same budget as before.
Rob Mortimer, Sales Director of Selcoms DWC LLC said: “When Bawbawon approached us with their proposition it seemed to us to be an idyllic opportunity to prove how the base function of BOOSTplus can help make island life more sustainable and pollution free. Their commitment to sustainable eco-tourism is clearly demonstrated with this investment in clean air for their island, but it also reduces their operating cost and from month 2 they have reduced their expenses on fuel and they can redirect the savings into other projects, making their project more financially viable.”
“When we committed to eco-tourism and a sustainable project, we never considered the possibility of being able to reduce our fuel operating expenses or to remove the smell of diesel from our generators and boats without very expensive capital investment. BOOSTplus has simplified this for us and in one stroke reduced our operating costs and helped us clean up our air and remove the smell of unburnt diesel fumes and particulate emissions. We look forward to a long and happy association with Selcoms”, said Robert Saceda II, Bawbawon’s Chief Green Officer.
CRESCO Holding Group Successfully Implement Its Vaccination Drive Right In The Comfort of Its Offices
February 7, 2021
As part of the UAE’s nationwide campaign to vaccinate the eligible population against Covid-19, CRESCO Holding group along with their family and friends have successfully implemented its internal drive. On January 28, 2021, the group received its first jab right in the comfort of the offices. In collaboration with the approved clinic and licensed representative, the company secured around more than its 50 people including their family and friends get vaccinated. One of the rooms has turned into a proper vaccination place which the nurse and the patient comfortably used whilst an observation area has been provided for those who finished their first dose.
UAE is one of the top countries which has the most vaccinated population in the world. The 2nd vaccine jab for the group is expected on February 18. While there are a number of locations where COVID-19 vaccines are available, it was really a great opportunity for the company to get it in the comfort of their own workplace.
The vaccination drive will support ongoing efforts to strengthen immunity within the workplace, community and maintain health and safety.
Hensley&Cook Lauded As An Official PRA Accredited Marketer
January 5, 2021
Indeed, a great welcome to the year for Hensley&Cook
for receiving the official marketer accreditation
by the Philippine Retirement Authority (PRA)
, a government-owned and controlled operation under the supervision of the Department of Tourism
As an accredited marketer of the Philippine Retirement Authority (PRA), Hensley&Cook is now ready to provide a seamless service promoting the PRA program related to living, working, and tourism in the Philippines. This will bridge the increasing demands of existing and potential clients who wish to relocate to the Philippines. Offering a wide range of solutions concerning housing prices, labor costs, visas, government regulations, insurance and schools among others, all under one roof.
We are confident that this will be an added value to our product portfolio and will help thousands of clients who are eyeing the Philippines as a tropical retirement haven in Southeast Asia. There are numerous numbers of accredited marketers available but what makes Hensley&Cook’s service offering unique is not only the solution, we provide our clients with peace of mind, confidentiality, transparency and after-sales customer support. Our team of experts with local-global knowledge will advise on the right investments, support on every step of the visa applications and guide them on local areas best suitable to live as their second home, said Alexander Chang-Sam, Hensley&Cook Managing Director.
Whilst the Philippines is known as a tropical climate country, the Filipino’s being a family orientated nation with warm hospitality attracts the foreign nationals more. The locals’ zest for life is acknowledged through world-class professional human resource, budding financial and business hubs, the low cost of living that assures a comfortable lifestyle which complements long term retirement plans. The Philippines is well known for countless choice of world-renowned destinations, prime locations with clean air and outstanding sceneries which makes the country the right choice for retiring foreign nationals and locals working abroad.
This new breakthrough will open a door of opportunities, especially during difficult times. Combining Hensley&Cook expertise in the field of business advisory with full suite solutions and PRA’s support program to its accredited marketer, a powerhouse and reliable go-to retirement solutions provider is born in the region.
CRESCOtec is Now Officially a Synology Partner
November 10, 2020
is proud to announce and share to everyone its official partnership with Synology, an IT company who is dedicated to developing high-performance, reliable, versatile, and environmentally-friendly NAS servers, surveillance solutions and routers, which goal are to deliver agile and cost-effective solutions and solid customer service.
CRESCOtec is one of the top implementation and integration partners in the region, providing an interface programming that seamlessly links a new system with the existing infrastructure and also helps design the business processes to maximise efficiency.
CRESCOtec assists numerous clients to configure the Synology device in their present system without any disruption to a client’s core business. Having established an IT system framework that allows most of the employees of CRESCO Holding group stay connected and work efficiently during the pandemic.
For more information about this new journey, we invite everyone to join them on a webinar tomorrow to learn more about the real case structured followed by CRESCO and how they win the challenge during the pandemic with the help of Synology.
on November 11, 2020, at 11:00 AM – 1:00 PM GST
1. How to build integrated infrastructure for networking, security, and file storage solutions, minimizing IT administration efforts.
2. Ensure Business Continuity during difficult times – Work Anywhere and Everywhere with Synology Drive and Office Collaboration tools.
3. Business Data Protection and Data Resilience with Active Backup for Business, Hyper Backup, Snapshot Replication
4. Real case sharing from CRESCO Holding.
Libra Project Forged a New Partnership with CRESCO Accounting and CRESCO Legal supporting sustainable and renewable energy projects aiming to bring 100 million people together by 2030
November 8, 2020
We are pleased to share with everyone our newly formed partnership with Libra Project. As an accounting and auditing partner for Libra Project, we ensure investors and potential clients that the company is fully compliant with its financial and accounting records internationally and locally.
Being a chartered accounting firm, we provide services according to international accounting principles and specific requirements of the applicable regulatory body. We are one of the few acclaimed accounting and auditing firms with global reach. With offices in business hubs such as the United Arab Emirates, Seychelles and the Philippines we are dedicated to helping companies such as Libra project.
The newly forged association with CRESCO Legal aims to support the company with its corporate structuring, raising capital and project due diligence. CRESCO Legal will be Libra Project’s legal arm with the mission of offering renewable and sustainable energy to various investors. As a global-local firm, we understand the economic market dynamics, with our local presence and international knowledge, we are confident in providing our clients with sound and effective legal services. We are ready to serve, internationally and locally.
Libra Project is a global company that aims to positively impact the lives of at least 100 million people by 2030, reduce air pollution and tackle climate change through the development of renewable energy projects.
Libra Project identifies, develops, operates and manages renewable energy projects extracting the maximum value at the same time focusing on delivering the maximum impact. Giving the shareholders the choice as to which project gets developed next.
Its value proposition is a socially inclusive model of developing renewable energy projects with a focus on maximizing social and environmental impact while extracting maximum value.
Part of the profits generated is channelled into local social and environmental projects along with a fair distribution of benefits to investors. Even the smallest investment receives the same distribution level of earnings as the founders and directors.
CRESCO Legal as a key speaker on another AI – Artificial Intelligence Live Webinar
October 5, 2020
CRESCO Legal have embraced technology by using the Luminance software powered by artificial intelligence. The team using Luminance work twice as fast and find issues that the other teams don’t necessarily pick up. Solving the problem of how a machine could read, learn and understand language.
The Luminance software supports large volumes of legal documentation from the lawyers as it allows; fast analysis of contracts, using sophisticated pattern recognition and machine learning.
Last August 26, 2020, Asiajuris Board member Michael Waechter discussed The Role of Artificial Intelligence to a Global Law Firm like CRESCO Legal on another successful webinar attended by lawyers from Asia and Europe and company decision-makers around the globe.
CRESCO Legal has been invited again to speak on another informative topic on October 16, 2020 at 2 pm GST
. The topic will be how organisations in the Middle East are implementing AI to accelerate their reviews and expand the document insight.
Indeed, CRESCO Legal embedded technology on their system to further improve the quality of service that allows the firm to process documents needed to be analysed and categorised within very tight deadlines. The firm is able to deliver vastly improved results to their clients, with greater assurance that nothing had been missed, surprising clients and allowing them to push for a more competitive price.
CRESCOtec won first place in Synology’s feature article competition.
Dubai, September 17, 2020
, an IT and accounting software provider based in Dubai UAE, specialised in commercial off-the-shelf software, interface programming and bespoke IT solutions recently won the Synology’s Digital Transformation Business User Case Competition (UAE region).
They started as an IT support for CRESCO Holding group and expanded to an active player in the software industry in the UAE and the GCC region.
The article entitled, “Success Story Reveals: A Day in the Life of CRESCO team with Synology” summed up how the software makes an impact on CRESCO group’s successful digitization of business processes.
Read the full story
on the winning article how Synology help us on our daily operation’s software requirement.
Cap Lion Point leads the acquisition of OfficeRock.com an e-commerce business
Dubai, May 4, 2020
Cap Lion Point (CLP) successfully supported an international procurement company BINCRES under the CRESCO Holding group in its acquisition of an e-commerce business, OfficeRock based in Dubai, UAE in one of their target markets. CLP helped to transfer the multi-million USD venture project from the venture capital group to its new owner.
The acquisition secures the integration of the successful operation into an environment, where both parties profit from the synergies and further develop the business with horizontal and geographical expansion.
About Cap Lion Point
Cap Lion Point is an investment bank based in Seychelles with employees in several countries. The ISO certified fund specialist mainly covers Africa and Asia as the target market for investments.
For more details, visit www.caplionpoint.com
BINCRES is an international procurement company with offices in the Philippines, Seychelles and UAE. The company served as the supply chain management arm of CRESCO Holding group, facilitating local and international procurement and logistic solutions.
A team of experts seamlessly handle the identification and vetting of potential suppliers, from the request for quote and evaluation of offers, the contracting and quality control, the supply logistics and the administration of the payment. Its international network of partners and membership in reputed international organisations helps them to quickly and reliably source goods from suppliers located around the world.
CRESCO Holding Announced the Acquisition of OfficeRock, One of the UAE’s Top E-Commerce Websites
Dubai, April 22, 2020
CRESCO Holding is delighted to announce its recent acquisition of OfficeRock, a UAE based e-commerce business for office supplies and equipment established in 2011. This highly-touted & newly inked acquisition agreement comes at a very good time and will complement the procurement and integrated supply chain solutions for BINCRES a supply chain management business under the Holding. “Procurement is a critical and central part of the supply chain. We evaluate our vendors continuously and enforce the highest compliance and quality standards to ensure that the products and services we provide meet and exceed client requirements,” said Kivanc Arkac, OfficeRock’s Managing Director.
With this new purchase, CRESCO Holding group through BINCRES is now ready to establish a strong foothold in both e-commerce and logistic solutions not only in UAE but also to other markets in Asia. “The know-how of the OfficeRock team is a welcomed add-on to our skill-set. The group will greatly profit from their experience in e-commerce and optimised logistic solutions,” said Michael Waechter, CRESCO Holding’s Managing Director.
Established in 2011, OfficeRock is under Lionsrock General Trading company, a UAE based e-commerce business affiliated with leading internet companies such as Maktoob.com, Souq.com, CashU, etc.
Still here for you
Dubai, April 4, 2020
Dubai is going to conduct a 2 weeks round-the-clock sterilisation initiative starting from 8PM on 4th April 2020. This comes with strict restrictions on movement across the emirate. The physical office at the Gold & Diamond Park stays closed, but we continue to be available via phone and other electrical channels. Our other offices stay open according to schedule. We apologise for any inconvenience caused and thank you for your understanding.
Business Continuity Plan – we are prepared
19 March 2020
CRESCO has taken measures to stay operational during the COVID-19 pandemic. Our IT infrastructure and our processes support remote working and the cooperation between distributed teams. We are confident, that we can continue serving you with our high level of quality and short response time as you are used to. We are here for you.
Jonnas Porminal appointed as Chief Software Engineer of CRESCO
Dubai, February 27, 2020
CRESCO Holding appointed Mr. Jonnas Tristan Porminal as Chief Software Engineer. Jonnas graduated in Computer Science at Xavier University, Philippines and joined the CRESCO team in 2018 as Systems Analyst. He has several years of experience as software developer and masters an impressive range of programming languages and database systems. The team welcomes Jonnas in his new role and wishes him a good start.
Maricar Gonzaga receives “Excellence in Finance Leader” award
Dubai, February 26, 2020
FiNext Awards & Conferences awarded Ms. Maricar Gonzaga, Managing Director of
the prestigious award for “Excellence in Finance Leaders”. This well-deserved award recognises her contribution to the finance industry and is also an homage to her leadership in CRESCO Accounting, where she perfectly personifies the motto “Excellence as Attitude”. Congratulations from the whole CRESCO team.
CRESCO Legal achieved ISO certification
Dubai, February 6, 2020
achieved to get certified in ISO 9001 (Quality Management), ISO 10002 (Customer Satisfaction) and ISO 31000 (Risk Managment).
This certification puts CRESCO Legal in the exclusive club of law firms that are ISO certified. It is an important milestone in the development of this global law firm, as it will make the engagement by strong regulated companies like banks or insurance companies easier.
Sadiqa now ISO certified
Dubai, February 4, 2020
, the Marketing and Expansion Consulting company of the CRESCO Group, is now certified in ISO 9001 (Quality Management), ISO 10002 (Customer Satisfaction) and ISO 22301 (Business Continuity Managment).
The implementation of the ISO principles will help Sadiqa, to secure the high quality output and to continuously adapt its services to stay inline with the requirements of its customers.
BINCRES now ISO Certified
Dubai, January 20, 2020
, the procurement company of the CRESCO Group, has successfully passed the ISO certification for ISO 9001: Quality Management System, ISO 10002: Customer Satisfaction and ISO 22301: Business Continuity Management System. This is a further step to secure the implementation of optimised processes and strict quality controls to the benefit of our clients.
Hensley&Cook opens office in Cebu, Philippines
Cebu, January 9, 2020
After a year of active promotion and successful deliveries in cooperation with local partners, Hensley&Cook has now established its own presence in the Philippines. From the office in Cebu, Hensley&Cook is going to serve the growing number of clients, that decide to establish a company in the Philippines, attracted by the high number of qualified people with high work ethos, or that like to retire in a country, that offers excellent living conditions at very attractive price.
CRESCO Legal now mediator in One Belt – One Road
Dubai, November 28, 2019
Mr. Naveen Kumar Indrakanti, Managing Director of CRESCO Legal, has been appointed as an Official Mediator by the International Commercial Mediation Centre for the “Belt and Road Initiative” popularly known as “Silk Road Economic Belt” and the “21st Century Maritime Silk Road” (the “B&R Initiative”).
Hensley&Cook to offer “Substance Check”
Dubai, November 26, 2019
Hensley&Cook, the corporate service company of CRESCO Holding, is now offering a “Substance Check” that allows companies incorporated in the UAE to check, whether they have to comply with the new legal requirement for “substance” as defined by UAE law.
You can access the Substance check here
CRESCOtec now certified for Information Security Management
Dubai, 23 September 2019
, the information technology specialists of CRESCO Group, achieved the ISO /IEC 27001 certification. This standard regulates the management of all data security related questions in information technology projects and the day-to-day work of CRESCOtec. In addition CRESCOtec was awarded the ISO 9001 (Quality Management), ISO 22301 (Business Continuity) and ISO 20000-1 (IT Service) certification.
CRESCO Accounting active in Anti Bribery
Dubai, 22 August 2019
is now ISO 37001:2016 certified. This ISO norm regulates the implementation and the running of an effective Anti Bribery Management System, which is an element to secure the compliance with the CRESCO Code of Conduct as defined by the management.
Beach cleaning on Bawbawon Island
Philippines, September 3, 2019
CRESCO Holding cooperated with the Local Government unit of Plaridel, Misamis Occidental, Philippines today to show their support in keeping the beaches on Bawbawon Island clean. Bawbawon Island is one of the investment targets of the Bawbawon Hospitality Group (www.bawbawonisland.com
), an entity associated with the CRESCO Group.
Ian Selguera appointed as Art Director of CRESCO
Dubai, June 20, 2019
CRESCO Holding appointed Mr. Ian Selguera as its new Art Director. Ian is a graduate in Information Systems and is a passionate painter. He has proven his excellent talent for example in the latest series of videos produced with and for the companies of the holding. We wish him a good start and are looking forward to seeing more results of his skilled work.
Mohamad Arar to become MD of Smart Money
Dubai, May 1, 2019
Mr. Mohamad Arar was named Managing Director of Smart Money, the claim recovery company of CRESCO Holding. Mohamad is a lawyer from Syria that joined CRESCO in February 2015 and was working with Smart Money since then. Mohamad is an Arabic speaking lawyer with a lot of experiences in the field of debt collection and claim recovery.
Successful event of WES MENA 2019
Dubai, 22 April 2019
CRESCO Accounting participated in the Women Entrepreneurship Summit held in Dubai, UAE. WES MENA offers an exciting new platform, intended to empower women, women-led organizations and SMEs through significant insights.
Seychelles IBC now allowed to carry on business in Seychelles
5 March 2019
In order to uphold adherence to the best international norms and practices, 1st January 2019 Seychelles enacted several legislative amendments which now offer Seychelles IBC owners an opportunity to carry on business in Seychelles, become tax residents and profit from the growing list of Double Tax Treaties. Business owners should note that only income derived in Seychelles would be subject to tax.
Contact Hensley&Cook team to learn how these changes can positively affect your business.
Asiajuris to elect Naveen Indrakanti as Vice-President
Cebu, February 24, 2019
CRESCO congratulates Naveen Indrakanti to his election as new Vice President of Asiajuris, an association of lawyers from Asia which is linked to Eurojuris, one of the leading association of lawyers in Europe. Naveen was elected during the Asiajuris conference in February 22 to 24 which took place in Cebu, Philippines.
CRESCO Legal is a founding member of Asiajuris and was instrumental in the set-up of this association. The conference in Cebu was organised by Jabines & Partners, a law firm domiciled in Cebu, in close cooperation with the CRESCO office in the Philippines.
Sadiqa DMCC is “Quality in Business” certified
Dubai, January 24, 2019
Sadiqa DMCC is pleased to announce the recently awarded Quality in Business Certification, which is an independent, third party evaluation program. It is the only global assessment methodology and business certification standard designed to highlight participating organisations commitment to innovation, continuous improvement and adherence to global best business practices.
CRESCO welcomes the 5k Challenge!
Dubai, January 21 2019
CRESCO Holding, a privately held UAE based holding with a selective investment portfolio, will start the year 2019 by introducing healthy lifestyle options to the dynamic and diversified staff by signing them up to the Super Sports 5km run. The run is a way to encourage all staff members to start the year by considering a healthier lifestyle and enhance positive attitudes.
At CRESCO, we work in line with the vision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai Government and Dubai Sports Council – “We are very keen to spread a culture of fitness since we strongly believe that making physical activity and sports a part of their daily routines will help people significantly improve the quality of their lives.”
CRESCO’s Dubai office will participate in the Super Sports Run on March 1st 2019 to motivate employees’ wellness and promote a healthier culture. The build up to the run allows employees to train actively for 60 days, while encouraging an increase in their fitness activity and by creating team building and a competitive environment.
Al Malek now “Quality in Business” certified
Dubai, January 10, 2019
Al Malek Trading, the trading and procurement company in the CRESCO Group, has received the reputed “Quality in Business” certificate from the US based certification agency. The certificate is given to companies, that proof to have a sustainable, client oriented business model that achieves a high level of customer satisfaction. This is another step in the continuous thrive for excellency.
Dubai, December 6, 2018
It is with a heavy heart and the deepest regret that we have to inform you of the sudden passing of Mr. Willem Smit, Managing Director of CRESCO Legal.
Willem was not only a key person in our office, he was a very good friend and colleague, he was a central part of our whole CRESCO family. We are all deeply saddened by his passing and everyone at CRESCO will miss him terribly. Words do not suffice to express our heartfelt sorrow and his absence is felt a lot.
Our condolences go out to his family. We wish them strength in this difficult times.
CRESCO Legal signs cooperation agreement with Almeida Prado Hoffmann, Brazil
Dubai, 30 November, 2018
CRESCO Legal has signed on 30 November 2018 a cooperation agreement with Almeida Prado Hoffmann (“APH”), a dynamic law firm in the economic heart of Brazil, Sao Paolo, with a subsidiary in Rio de Janeiro. APH was chosen in 2018 by an independent agency as one of the most promising and leading firms in the Brazilian legal community. All advocates are bilingual, Portuguese-English and many have a command of another foreign language like Spanish, Italian, German. APH has strong relations with FIESP, the SP Federation of Entrepreneurs, and is well represented in several international networks.
CRESCO Legal signs cooperation agreement with De Heng, China
Ningbo, 18 November, 2018
CRESCO Holding has singed a cooperation agreement with the Chinese law firm De Heng. The firm has more than 2’600 lawyers and is present in more than 30 locations all over China.
The agreement makes CRESCO the exclusive partner of De Heng outside China where as CRESCO will rely exclusively on De Heng for all matters concerning China. Mr. Zimin Ye, senior partner of the law firm, praised the cooperation with CRESCO as a big step forward into the international market.
CRESCO Legal expands to India
Dubai, 15 November, 2018
CRESCO Legal has made its entrance into the Indian subcontinent by opening an office in the Southern Indian metropolis of Hyderabad, the Silicon Valley of India. The office has around 40 fully qualified advocates covering all legal fields and sectors of trade and business.
All lawyers are accredited with the various Courts in Hyderabad and operative in both the litigation and advisory practice.
We are honoured to announce that the Head of CRESCO Legal India will represent the Sultanate of Oman in India.
Successful Inbound Trade Mission to the UAE
Dubai, 15 November, 2018
From November 11 to 15 Dubai was the host for the Inbound Trade Mission of the International Trade Council. The International Trade Council is a 64-year-old peak body Chamber of Commerce representing government export agencies, chambers of commerce and industry associations and businesses from 176 countries.
Mr. Michael Waechter, Chairmain of the CRESCO Group and Co-Chairperson of the ITC fro the UAE along with Sadiqa hosted a successful Inbound Trade Mission. The mission was very well received by CEOs of international organizations based in the UAE, as well as the participating delegates of the mission.
Successful visit of FIESP Delegation to Dubai
Dubai, 11 November, 2018
Sadiqa hosted a delegation of FIESP during their official visit to Dubai and the UAE. Fiesp, a Federation of Industries of the State of São Paulo, is responsible for 45% of brazilian industry GDP.
During the visit organized and sponsored by the Dubai Chamber of Commerce, delegates were able to learn about the business market, the business culture and how to penetrate the market in their respective industries and generate leads.
Successful event of China Offshore
Shanghai, 15 November, 2018
Hensley&Cook participated in the successful China Offshore Summit held at the Grand Kempinski Hotel in Shanghai, China. Thank you China Offshore for an interesting Conference.
Successful event of Eurojuris in Dubai
Dubai, 21 October, 2018
From October 18 to 20 Dubai was the host for the International Congress of Eurojuris and Asiajuris. Eurojuris is the leading network of independent law firms in Europe, with members based in 650 different cities/locations, representing about 600 law firms and 6 000 lawyers.
CRESCO Legal and Sadiqa were heavily involved in the preparation and the management of the event. The congress was a success and Mr. Michael Proksch, the Chairman of Eurojuris called the event “a role model for further events”.
Seychelles, 25 September, 2018
Hensley&Cook opens a new office in the Seychelles
Tuesday September 25 marks an important day in the history of Hensley&Cook: The company officially opened its office in the Seychelles with the blessing of the office and a ceremony attended by honoured guests from politics, financial authorities, industry and friends. The Seychelles are not only an excellent destination for holidays but thanks to their efficient and dynamic financial authorities became an important player in the world of corporate services.
Dubai, August 14, 2018
Hensley&Cook and CRESCO Accounting are now ISO certified
The offices of Hensley&Cook and CRESCO Accounting in Dubai, Cebu and the Seychelles are now compliant with ISO 9001:2015 (Quality Management System), ISO 10002:2018 (Customer Satisfaction and Complaints handling) and ISO 31000:2018 (Risk Management). We are happy, that we fulfil these demanding standards, and are sure, that it will help us to even better serve our existing and future clients.
Dubai, August 5, 2018
Mr. Alexander Chang-Sam new MD of Hensley&Cook
Mr. Alexander Chang-Sam was appointed as the new Managing Director of Hensley&Cook. Alexander Chang-Sam worked for several corporate service providers in the Seychelles and the UAE before joining Hensley&Cook more than a year ago. He is a trained anti-money-laundering officer and has a strong background in accounting. Mr. Chang-Sam was overseeing the start of Hensley&Cook in the Seychelles and helped the company in its expansion in China.
Dubai, August 5, 2018
Mr. Ramazan Galyamov to join family business
Mr. Ramazan Galyamov, managing director of Hensley&Cook decided to join his family’s business back in his hometown Kazan, Russia. He will leave Hensley&Cook by mid of August, but will stay connected with the company and the team, as he will help clients of Hensley&Cook that want to expand their business into Kazan, the capital of Tatarstan.
Mahe, July 2018
Hensley&Cook Seychelles now fully operational
On July 25 the Financial Service Authority of the Seychelles (FSA) visited the Hensley&Cook office in the Oceanic House in Providence, Mahe, and approved the set-up and the processes.
Hensley&Cook is now a FSA approved and fully operational company with an International Corporate Service License, an International Trustee Service License and a Foundation Service License.
Dubai, July 2018
CRESCO opens office in Cebu, Philippines
With the opening of the office in Cebu, CRESCO properly arrived in Asia. The Philippines with their high number of well qualified English speaking specialists are a great location for the office of CRESCO. The excellent attitude towards work combined with the good infrastructure in the Cebu IT Park make it an ideal starting point for the expansion in Asia.
Mr. Leonell Ang Tan, the branch manager of CRESCO Philippines, together with his team of accountants and software engineers will work in close cooperation with the other offices of CRESCO around the world.
Dubai, June 2018
CRESCOtec is now reseller of SAGE
The software company of CRESCO, CRESCOtec
, became official reseller of SAGE, an internationally renowned provider of ERP, CRM and accounting software solutions. This step allows CRESCOtec to even better serve its growing customer base in the UAE and the other GCC countries.
The increased pressure on companies in the GCC to optimise their processes and to reduce the cost of their operation in combination with the increased demand for accurate financial statements caused by the implementation of VAT creates an interesting business opportunity for the software solutions provided by SAGE.
Dubai, March 2018
CRESCO Legal to use Artificial Intelligence
is proud to announce, that it has closed an agreement with the UK based firm Luminance Technologies Ltd. for the use of their artificial intelligence powered software Luminance
. This makes CRESCO Legal the first law firm in the Middle East to embrace such a new technology to the benefit of its clients.
Luminance is the leading artificial intelligence platform for the legal profession. The revolutionary technology is founded on the latest breakthroughs in pattern recognition and machine intelligence.
CRESCO Legal is pleased to have found such a reputed software provider for its first implementation of artificial intelligence in the business processes. New products and services will be developed to allow clients to profit from the implementation of this new technology.
Dubai, February 2018
ITC names Co-Chairperson for UAE
The International Trade Council
announced that the board appointed Mr. Michael Waechter as Co-Chairpersons to the International Trade Council for the United Arab Emirates.
Michael Waechter will represent the ITC in the UAE and be in contact with the ITC members in the Emirates, among them companies like du (Emirates Integrated), UPS, Dubai Duty Free, Europcar and others.
Dubai, October 2017
The updated version of the “Vision 2020” for the CRESCO Group was published on the website of CRESCO Holding. The document was reviewed and adapted in an investor meeting in September 2017. The final wording was approved and put in action in October.
Investors can download the updated version of the Vision 2020 in the download area on the website. Please contact investor service in case of problems accessing the site.
Dubai, June 2017
Mr. Cesar Igarta was appointed as the new Chief Knowledge Officer (CKO) of CRESCO. Mr. Igarta will help to optimise the use of the knowledge available within the organisation and is responsible for managing the intellectual capital within CRESCO.
His task, among others, will be to maximise the effectiveness of knowledge sharing among the different companies and offices of the group.
Dubai, May 2017
Mr. Kent Tupas joined CRESCO as the new Chief Design Officer (CDO). Mr. Tupas has a solid background as graphic designer and designer of user interfaces for software. He is a studied IT specialist with focus on web applications and mobile apps.
Mr. Kent will be in charge of graphic design, user experience design, video communication and package design of the CRESCO companies.
Dubai, April 2017
CRESCO Legal opens office in the USA. The company has its principal office at Madison Avenue, New York.
The expansion to the USA is inline with the drive of CRESCO Legal to establish a strong international brand with representation in the main markets but with a focus on Asia.
The office in the USA closes a gap, where CRESCO Legal now covers Latin America through its office in Costa Rica and North America through its operation in the USA.
Dubai, March 2017
CRESCO Legal has now an office in Costa Rica: Mr. Adrian Obando and Mr. Alex Thompson with their team of lawyers joined the growing international network of CRESCO Legal.
The office in Costa Rica will cover the market in Latin America and adds a lot of expertise to CRESCO Legal, for example in Estate Planning, International Tax law and Commercial law.
Dubai, August 2016
CRESCO Legal expands its reach and opens a new subsidiary in Luzern, Switzerland. The new location allows the team of CRESCO Legal to be closer to the customers from Europe and to offer them an easier access to the services of the legal consulting company with head quarter in the UAE.
This new location has to be seen as part of an initiative that will provide CRESCO Legal with a strong international present, mainly in Asia.
Dubai, July 2016
Ms. Constanza Fernandez-Reyes was appointed as the new Head of Marketing and Social Media of CRESCO Holding.
Ms. Fernandez-Reyes holds a diploma in Social Media and is a consultant with Sadiqa FZE, the business consulting and expansion consulting company of CRESCO. She will lead a team that takes care of the communication on social media channels and coordinates the marketing activities within CRESCO.