The year-end is always an exciting time at Cheng & Co with numerous new strategies and plans deliberated and crafted to elevate the firm to another level, the following year. This time around, it was a little different. The firm’s Transformation strategies and plans are developed for the next three years towards achieving Cheng & Co’s vision 2020. Hangzhou, China was the destination this year for Cheng & Co’s traditional year-end crucial Partners and Heads of Departments (HODs) gathering to chart the course for the future.
Year-End China Visit to Hang Zhou
The trip also included a visit to one of the largest accounting firms in the country, Pan China. Cheng & Co were extended a warm welcome at Pan China by Chief Managing Partner Mr Hu Shaoxian, Executive President for Strategy and Development Mr Zheng Qihua, Senior Partner for Strategy and Development Ms Chen Yaping, Senior Partner for International Business Mr Wu Jie and, a number of their employees. The day was mainly about getting to know one another while savouring the flavours of delicious Chinese cuisine.
Official business got underway the next day with both parties taking turns to introduce their respective firms as well as share key development strategies that has driven both Pan China and Cheng & Co to the heights scaled today. With both firms not resting on their laurels, various future collaborations were discussed to further improve business performances, skills, services, gain new clients as well as complementing each other effectively to excel in the highly competitive global market.
A rather hectic third day began in the morning with a meeting centred on the 2018 Balanced Scorecard methodology for all seven business cluster heads and partners. Next up was the all-important discussion on moving forward with Cheng & Co’s Transformation 2017 – 2020 strategy which was accompanied by a presentation from Ms Chen on Pan China’s own strategies as well as the overall prospects of the accounting industry in China which has enjoyed explosive growth in recent years and presents numerous business opportunities.
The day also marked the signing of a Memorandum of Understanding (MoU) with a potential member, Calvin & Partners, a Chartered Accountants firm based in Labis, Johor. Calvin & Partners was represented by its head Dato’ Calvin Koh who, together with his wife, came along on the trip. The MoU signals the start of many future collaborations between both firms that will be announced in due course.
While 2018 brings Cheng & Co a step closer to towards becoming the leading homegrown international accounting firm with offices in 100 locations by 2020, it also marks a milestone year as the firm will celebrate its 25th anniversary. The growth story of Cheng & Co has been a remarkable one that began in 1993 as a humble accounting firm with only three employees that worked day and night to meet client expectations.
A cake cutting ceremony was held to officially announce a string of programmes that will take place leading up to next year’s 25th Anniversary gala dinner. The curtains came down on the trip to Hangzhou after everyone had a great time sightseeing and enjoying the food and attractions of the city.
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