One Stop Professional Centre · To have ONE -STOP PROFESSIONAL CENTRE for the convenience, To be THE LARGEST HOME-GROWN ACCOUNTING FIRM to Vision achieve international recognition

One Stop Professional CentreOne Stop Professional Centre. Malaysia . China . Hong Kong . Singapore . Australia .

© 2012 Cheng & Co. All rights reserved.

The Growth of Cheng & CoThe Growth of Cheng & Co

Merger & Acquisition

Joint Venture



Joint Venture

Affiliation

Formation of Cheng & Co Formation of Cheng & Co 19 / 1 / 199319 / 1 / 1993

FoundersFounders



Prof Dr. Paul ChengSenior Partner

DBA, DComSc, MBA, BBusCA(M), FCPA, CPA(M), FTII, CMIIA

Dr. Chua H. H.Managing Partner

PhD, MBA, CA(M), FCPA, FCMA, FTII, CFP

The PartnersThe Partners



From left to right: Mr. CS Ong , Mr. HP Chua, Mr. KC Liew , Dr. Chua HH , Mr. Steven Yap, Mr. WL Tan ,Mr. KS Lam, Mr. Tom Wong

2011 2005 1997 1993 2005 2008 2009 2009

Formation of Cheng & Co Formation of Cheng & Co 19 / 1 / 199319 / 1 / 1993

1st Acquisition of old accounting firm,established in 1949 (KL) :

Challenges & Issues :

• Change of the Practice.



• Change of the Practice.

• Minimum Audit Schedule Fee by MIA.

• Collection of Debts.

• Quality of Work & Standardization.

• Training of Staff.

Acquisition Acquisition

Acquisition of Audit Firm in 1997 (Ipoh) :




• Visiting the existing clients.

• As the platform for the growth of Cheng & Co Ipoh.

• Working culture and working environment.

Merger Merger


• Overstaff issue.

• “Discover” talented staff.

Merge of Konsultax S/B with Cheng & Co Taxation in 2004 :



• “Discover” talented staff.

Currently, he is Cheng & Co’s

Tax Specialist and Core Partner.

• Contributions of Mr Lee, Tax

Specialist (founder of Konsultax

S/B).

To haveONE-STOP PROFESSIONAL CENTRE for the convenience,

To be THE LARGEST HOME-GROWN ACCOUNTING FIRM toachieve international recognition by providing professional services.VisionVision

Formation of Vision, Mission & Formation of Vision, Mission & Philosophy in 2005 (TQM)Philosophy in 2005 (TQM)



To haveONE-STOP PROFESSIONAL CENTRE for the convenience,time and cost savings to the business communities seeking professionalservices.

MissionMission

We adopt aTOTAL APPROACH to the needs of our clients byproviding a complete range of professional services critical to our clientssuccess at all times.

PhilosophyPhilosophy

The Growing VisionThe Growing Vision



VISION / MISSION / PHILOSOPHY

6 Core Pillars (Strategies)

Critical Success Factors

Results Performance

Customer Satisfaction

Internal Process

Learning & Growth

Employee Satisfaction

Corporate Social Responsibility

Journey from a Journey from a VisionVision & Mission & Mission through Performance through Performance MeasurementsMeasurements



Critical Success Factors

Key Result Indicators

Performance Indicators

Key Performance Indicators

6 Perspectives Balanced Scorecard

Results Performance

Customer Satisfaction

Internal Process

Learning & Growth

Employee Satisfaction

Corporate Social Responsibility

Acquisition Acquisition

Acquisition of Su Lim & Associates in 2010 :


• Differences from the firm culture.

(Eg. KPI, Performance Incentive, 360 ̊c assessment)

• Collection Policy.



• Collection Policy.

Joint Venture Joint Venture

CHENG & CO AUSTRALIA PTY LTD

Joint Venture with LSM Corporate Services in Perth 2011 :


• “Culture Shock”.

• Local practice licenses requirement.



� Acquisition Opportunity.

� Goodwill & Terms of Payment.

� High Successful Rate.

Affiliation Affiliation

CHENG & CO AUSTRALIA PTY LTD

Affiliation with INPACT Asia Pacific in Perth 2012 :





• Cross Selling of Services.

• Sharing of Local Knowledge/Expertise.

Milestone to SuccessMilestone to Success

� By upholding 3 main strategies

Strategy 1:

Merger & Acquisition

•Expanding since 1993 by merger & acquisition ofmore than 10 practitioner

Strategy 2:

One Stop Professional Centre

•Establish a one-stop professional centre and providing more

Strategy 3:

Professional Leadership Centre

•Human Excellence Development through Professional Leadership



more than 10 practitioner firms, to meet the ever increasing demands of the public.

providing more professional services to the public.

Professional Leadership Centre.

•Talent Staff Gaps•Professional Leadership Development Program.•Promote and develop high potential and talented employees.

•Compelling future in Cheng & Co.

•Rewards and Promotion•Cheng & Co Foundation

ResponsivenessResponsiveness



Source: “The Relationship Between Audit Client Satisfaction and Audit Quality Attributes: Case of Malaysian Listed Companies” by Takiah Mohd Iskandar, Mohd Mohid Rahmat from UKM, & Hashanah Ismail from UPM, Int. Journal of Economics and Management4(1): 155 – 180 (2010), ISSN 1823 - 836X.



Documents

One Stop Professional Centre · To have ONE -STOP PROFESSIONAL CENTRE for the convenience, To be THE LARGEST HOME-GROWN ACCOUNTING FIRM to Vision achieve international recognition