Media centre BDO Malaysia grows presence with new teams in Penang and Cambodia | BDO Malaysia grows presence with new teams in Penang and Cambodia |
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BDO Malaysia, a member firm of the world's 5th largest accountancy and advisory services network, today announced that it will be joined by partners and staff of UHY Penang and Grant Thornton Law & Associates (GTLA) Cambodia with effect from 1 July 2011. The partners and the staff from UHY Penang are leaving their firm to join BDO Malaysia. This move will be the catalyst for the formation of the BDO Northern Practice Office. In Cambodia, the country partner and the staff from GTLA will be leaving the network to cross over to BDO. BDO Cambodia is fully supported by the Malaysian practice. Commenting on this expansion, Dato' Gan Ah Tee, Managing Partner of BDO Malaysia and Regional Senior Partner for Asia Pacific Region A, said, "With our expanded presence and capabilities, we are in a better position to serve our clients wherever they are, in line with BDO's client proximity proposition." "In Malaysia, BDO is now clearly ranked 4th based on the market capitalisation and number of PLC clients audited," he added. The enlarged firm for BDO Malaysia will have close to 600 staff including more than 40 partners and directors. The Northern Practice office will have about 70 staff and partners while the Cambodian firm will have a team of over 30 staff and partners. Koay Theam Hock, former audit partner of UHY Penang and Ong Eng Choon, former managing director of Taxnet Consultancy said, "We are really excited to be the pioneer team of BDO Malaysia's Northern Practice Office. With the combined strength of our offices in Malaysia, we will be able to even better service our clients in the North of the peninsula. Our Audit and Tax services will be further complemented now by a full range of Advisory services." In Cambodia, BDO is one of only three accounting firms recently accredited by the Securities Exchange Commission of Cambodia as a professional accounting firm and independent auditor providing professional services in the securities sector in Cambodia. BDO Cambodia is also on the panel of approved independent auditors for banks and financial institutions of the National Bank of Cambodia. Arthur Law, former country partner of GTLA Cambodia, who has more than 10 years' experience in Cambodia, commented: "Cambodia is poised to be the next growth story in Indochina, with a population of 14.7 million and a median age of approximately 23 years. The launching of the Cambodia Stock Exchange should encourage a surge in foreign investment in an exciting business landscape." The Cambodia Stock Exchange is scheduled to be launched in July 2011 with trading expected towards the end of the year. Besides Penang, BDO Malaysia has offices in Kuala Lumpur, Seremban and Johor Bahru. In Vietnam, it has jointly set up an International Division with BDO Vietnam to better support the regional ambitions of foreign companies in Vietnam as well as to support BDO's international clientele there. The International Division offers a full range of audit, advisory and tax services. The world's 5th largest professional services network, BDO had also increased its regional footprint in Asia Pacific with mergers in Hong Kong and Japan in November 2010 and January 2011 respectively. ENDS Note to editors BDO Malaysia is a member firm of BDO International, the world's fifth largest network of professional services firms. BDO International employs over 46,930 partners and staff with 1,082 offices in 119 countries, generating a worldwide fee income of USD5.284 billion in 2010. In Malaysia, the BDO group is a leading professional services firm providing audit, advisory and tax services to businesses ranging from established multinational conglomerates to growth oriented organisations, whether public or private. We service our clients with a well qualified and experienced team of close to 600 staff including 40 partners and directors from offices in Kuala Lumpur, Penang, Johor Bahru and Seremban. We have expanded our operations to establish BDO in Cambodia and an International Division in BDO Vietnam to better support the regional ambitions and investments of businesses. Contacts Elaine Hong Shirley Ann Lau
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