Events & Publication
Source from thestar online I Monday January 21, 2013

Through thick and thin, local accountancy firm survives to celebrate
20th anniversary

20 good years: Cheng, Lim and Chua cutting the Cheng & Co anniversary cake at the dinner.

FROM a two-man accounting firm with three employees, Cheng & Co has turned into an international body of chartered accountants serving local and international clients, all in 20 years.

At its 20th anniversary celebration in Bandar Sunway, Petaling Jaya recently, the firm's founder Dr Paul Cheng reflected on the company's journey.

"We have seen financial turmoil, currency crises, stock market crashes and other issues, but we are still standing strong.

"People say 20 years is like an entire generation, and the company's founder generation is ready to witness the younger generation at the helm," he said in his speech.

Since its inception on Jan 19, 1993, the company had expanded from three employees serving 100 clients to over 200 staff dealing with thousands of business clients.

In addition to 14 offices in Malaysia, Cheng & Co has also made its mark in Singapore, Hong Kong, Shenzhen, Guangzhou, Perth and Taiwan.

The firm’s managing partner Dr Chua Hock Hoo noted that the celebration was a humble reflection of its successes.

"It has not been an easy journey but we are determined to become a one-stop homegrown professional services company. We are constantly alert about the changes in the industry, and adapt to see to our clients' needs.

"The firm’s expansion in size and structure increased through mergers and acquisitions," said Dr Chua, adding that over 10 such mergers had taken place since 1993.

At the event, Cheng & Co honoured its long-serving staff as well ashigh-achievers with certificates and gifts.

Performances by children from charity homes, a music band and lucky draws kept the guests entertained for the night.

Guest of honour at the dinner, Deputy Finance Minister Datuk Donald Lim praised the company for its success.

"In countries such as Spain and Greece, unemployment rate is as high as 25%. Countries with unemployment rate below 3% are considered fully employed, and Malaysia’s stands at 2.9%," he said.

He added that the country's inflation rate had also gone down from 3.2% in 2011 to 1.8% last year.

Lim lauded Prime Minister Datuk Seri Najib Tun Razak’s transformation programmes, which he said would propel the nation to achieve its target of becoming a developed nation by 2020.

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