CHENG & Co has stated to have aimed to top the largest local accounting firm in Malaysia with the successful unification with Su Lim & Associates based in Terengganu.
The unification arrangement indicates Cheng & Co’s 11th. The merger arrangement was accomplished within three months which started from successful talks that lead to final agreement according to H.H. Chua, its managing partner.
It was further noted that the quick process to close the deal revealed the company’s enormous experience in accomplishing the merger and acquisition procedure as its major strategy for development.
This merging strategy is preferred over the idea of building a new branch from raw concepts and invading the local market with own effort which is merely a waste of resources, as H.H. Chua stated after the merging agreement has been signed by Cheng & Co and Su Lim & Associates in Kuala Terrengganu.
One of the best way for small accounting firms is to join forces to evolve to a more competitive and efficient company.
Even in the international arena, merger has become a usual practice to gain strength and able to compete with international giants. Malaysian firms are using this strategy specifically in the service sector.
The company also offers halal certification consulting services to companies from other countries that are aiming to pour in investment in the food industry particularly in Malaysia and in Indonesia.
Many critics have mocked at the concept of offering halal certification consulting of an accounting firm but Cheng & Co stood firmly on its objective to provide one-stop consulting services to their valued costumers.
The company has hired halal-certification professionals who could mediate with Jakim and MUI in Malaysia and Indonesia respectively, to provide top notch services to help clients make their business halal-compliant which is essential to their operations in Malaysia and other Muslim countries.
The company has the multilingual ability that aids in securing business deals. Cheng & Co has the plan to merge also with accounting firms in different cities in the country where it will establish another branch. The particular cities that are included in this plan are Sarawak, Sabah, and Penang.
Image by Samuel_Tan
