This letter serves to confirm that International Commerce Corporation, which is a company of independent financial advisers, has held terms of business with Old Mutual Hong Kong (previously known as Providence Capital) since December 1993.

They have proven to be very professional in their approach to their work and Old Mutual Hong Kong would be pleased to recommend their services to those seeking advice on matters pertaining to insurance and investment planning.

Graeme J. Still
Chief Executive, Old Mutual Hong Kong

I have known Michael Spivey since 1986 when we worked together at Merrill Lynch in London.

More recently Michael has been advising me on my financial strategy, in his capacity as a financial adviser and assisting me with my investment portfolio.

ICC’s approach to financial markets and portfolio diversification is thoughtful. It is knowledgeable, sensible and practical and the advice is in keeping with my own financial objectives and time frame.

I have no hesitation in endorsing Michael Spivey and ICC to the fullest extent.

Paul A. Harrison
Managing Director, Scotia Capital, Asia.

I have been a client of Martyn Ludlow of International Commerce Corporation for 15 years. This started when I worked for him as his Office Manager. I liked the way he treated his clients and following an inheritance I asked Martyn to personally look after my financial affairs. He has since advised all my family and we are very happy with the service.

Mr David Pegington

Carolyn of ICC has a wealth of experience in financial planning and offers the best advice and recommendations to suit each individuals needs. I would strongly recommend them.

Sally Griffiths
Campus Services Personal Assistant at University of Exeter

Gave them some money plus 60%; what else can one ask for?

The late David Madoc-Jones
Chief Superintendent HK Police

Martyn, of International Commerce Corporation, has helped us for 9 years. He liaises with our Accountant on tax matters and advises us on our Investments and Pensions. Martyn is the most creative Advisor we know and has greatly assisted us in reducing our income tax and improving our pension position.

We hope to work with Martyn for many years to come.




Mr & Mrs R.J. Williams
Retired Company Directors and Shareholders

Re: Martyn Ludlow of International Commerce Corporation

I was Managing Director of a successful engineering company in South Wales, and was seeking a reliable and talented financial advisor to manage and maintain both my own pension fund, and also those funds of my employees.

I was recommended to him by my company’s chartered accountant, and being suitably impressed by Martyn on meeting him, I invited him to take on the management of my financial affairs.

Since then he has looked after me and those of my employees who were involved, and has advised me appropriately on many occasions.

I am now retired, and rely heavily on the funds which he has managed to provide for me a comfortable, secure, and affluent retirement.

Richard Livermore

I have known ICC for more than 15 years as a financial advisor.

I have been happy to follow their advice, and currently hold a variety of policies, which ICC were instrumental in obtaining on my behalf including, but not limited to, Whole of Life, Disability and an investment policy.

Alan Wells

Nicole and I would like to thank ICC for all the time and trouble they have taken with regard to advising us on our financial affairs.

I am sorry to have to let you know that we have decided to place our business with another party. The decision was not an easy one since the advice from all concerned had particular merits, but the final analysis we judged the services of the other party would suit our own circumstances best.

Adrian Batten
Group Managing Director, Headway Media Services Limited

I have known ICC for two years as my investment advisor. They are very professional in all my dealings.

I am impressed with their attributes: responsiveness, diligence, speed in recommendations, thoughtfulness on timing of entering/exiting markets and personal approach to me as an investor.

They helped me to make important decisions and kept me balanced in my approach. As a result, my personal portfolio has appreciated significantly from the money invested with them.

They are a pleasure to work with and completely trustworthy.

Ken Johnsen
Director of Operations, IBM, Hong Kong