In yet another milestone occasion, Cheng & Co officially sealed the merger and acquisition (M&A) of Taiping, Perak-based accountancy firm Ng Yoke Weng & Co on 26 May 2017. M&A is a key growth strategy for Cheng & Co in pursuit of greater business expansion and opportunities which, in turn, will increase the presence of the firm throughout Malaysia and the array of professional services that it provides.
The M&A ceremony was held at Cheng & Co’s headquarters in Kuala Lumpur and the guest of honour was Mr G. Shanmugam, Executive Director Strategy & Development from the Malaysian Institute of Accountants. The day began with an opening address by Cheng & Co’s Managing Partner Professor Dato’ Dr Chua Hock Hoo, followed by a brief presentation on Cheng & Co’s growth story by Deputy Managing Partner Mr Tan Wae Leng.
Mr G. Shanmugam subsequently took to the stage to deliver a speech on behalf of MIA’s Chief Executive Officer Dr Nurmazilah Dato’ Mahzan that expressed confidence in Cheng & Co’s path towards becoming the leading home-grown international accounting firm by 2020. The event concluded with the signing ceremony and exchange of documents between Professor Dato’ Dr Chua and Mr Ng Yoke Weng, the Managing Partner of Ng Yoke Weng & Co.
Ng Yoke Weng & Co has been in practise for more than 30 years in Taiping, Perak. The firm was built through the hard work, dedication and vision of Mr Ng together with his highly-committed staff members. Today, they have more than 1,000 clients that will now gain access to a one-stop professional centre providing high-quality and efficient business services. Ng Yoke Weng & Co will officially become Cheng & Co’s Taiping branch, headed by the talented Albert Tan.
“The M&A with Ng Yoke Weng & Co adds yet another chapter to our encouraging growth story as we will now have a new group of highly talented, experienced and dedicated individuals who will add greater depth to our talent pool,” said Professor Dato’ Dr Chua. “We look forward to growing and developing together to ultimately enjoy great success and, achieve our vision 2020,” he added.