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Indeed, it was a momentous occasion for Cheng & Co. Group. On 6 and 7 January 2023, we held our iSGV2025 Sustainable Growth Programme in CIMA Office and Leadership Centre respectively. Day One After breakfast and registration, we began with opening remarks by our CEO, Mr. Tom Wong, during which he imparted his take on sustainable growth, and also words…

诚国集团于1993年成立初期仅有三名员工，与马来西亚当时数千家会计师事务所无甚差别。仅凭微薄的银行存款和为数不多的客户，我们立志成为本土领先的会计师事务所，并扩张指亚太地区。 我盼望在此文中所分享的企业持续性增长战略，涵盖平衡计分卡(Balanced Scorecard)、企业与联营等将对中小企业主有所助益。 平衡计分卡 – 企业战略管理工具 创业初期，我们意识到要企业要脱颖而出必需提供独特的价值。随着客户群逐渐增长，他们对与诚国作为单一公司能提供多种专业服务的需求开始上升。因客户追求方便，让我们拥有了突破仅作为一家传统会计师事务所的契机。 我们的扩张策略核心定位为业务模式多元化。在进行严谨的调研中进一步理解现有客户的痛点后，我们引入更广泛的服务以迎合客户的需求。终于，我们启动转型。我们开始尝试各种衡量业绩和实现企业内部合作效应的方式，从而实现了我们的愿景。 我们发现平衡计分卡(BSC)是最适合我们达成企业目标的战略管理工具。平衡计分卡是一种利用数据分析来帮助组织实现提高员工绩效、提高成本效率和提高客户满意度的方式，从而实现更好衡量绩效。这同时也弥合高层管理人员和各级员工之间的差距，因为它是一种透明、有效地沟通利益相关者的期望和预期成果。 我们实施平衡计分卡的灵感来自迈克尔·刘易斯的《点球成金》一书。这本书是一本畅销书，随后又被改编成一部轰动一时的电影。比利·比恩(Billy Beane)的真实故事讲述了他如何运用统计分析的力量，将一支低成本的失败棒球队变成了一支成功的球队。 “财务、客户、内部流程以及学习和成长”是平衡计分卡概述的组织成功的四大支柱。这四大支柱体现了我们对所有伙伴的承诺。 平衡计分卡在我们集团的另一重要作用是当我们根据关键绩效指标（Key Performance Indicator, KPI）来设立员工奖励制度时，优秀的员工将获得更可观的奖励以推动他们继续追求卓越。在我们的专业服务领域中，学习，至关重要，也是这领域的长久特质。因此员工奖励制度的一部分要求员工每年完成40到60个小时的培训。 值得一提的是平衡计分卡不仅仅是一种内部绩效衡量的战略。我们的客户和整个行业都对这个战略有好处有所认知。 我们有个例案是一位来自制鞋行业的客户，他的公司向来都着重生产校鞋。近来，随着政府改变政策，如规定校鞋的颜色由白色改为黑色；新冠肺炎疫情导致的许多机构关闭，公司的销售业绩大幅下降促使他们的管理层向我们寻求专业指引。我们透过平衡计分卡培训，帮助他们意识公司应发展多元化的鞋类以分散风险。同时也建议为减少开支，由昂贵的高端包装改为更节省、更环保的包装。 诚国的客户群分布里95%都是中小企业，我们与中小企业家的密切合作让我们贴切了解到他们的需求。因此，我们建立针对企业关键问题的解决方案，如企业重组、商业纠纷调解和企业永续计划。. 平衡计分卡在中小企业中成功实施必不可少的因素——所有员工都需要同步，才能缩小期望值和实际绩效衡量的差距。每一位员工首先必须了解自己所体现的价值如何帮助企业实现其长期目标。平衡计分卡的透明化有助于全公司了解企业整体的行动计划和彼此扮演的角色。 合并与收购 – 企业扩张战略 我们非常清晰要在马来西亚成为领先的会计师事务所，合并和收购将发挥关键作用。同时我们也意识到，作为规模不大的企业，我们缺乏规模巨大的企业所具备的雄厚财力以迅速扩张。 一般来说，合并和收购并不是一个容易操作的过程，这是非常耗时和对许多公司相对敏感的课题。被收购方反感被人他人接管（Take over），然而，这是合并和收购项目中常见的情况。这样的情形使部分公司选择进行合作安而并非被收购。因此，我们起初所采取合并和收购的路线是让对方作为一个成员公司加入我们，共同合作和建立互助关系。在这一阶段，对方将能够体验我们诚国为客户提供的多元化专业服务，以提高对方自身的专业能力。 若事情进展得顺利，我们双方能够达成协议，全额收购成员公司。这个过程所需得耐心帮助我们诚国找到了合适的合作伙伴。 为此我们建立一个合并架构和联营机制，其中涵盖给被收购方的最低限度预付定金和36个月的分期付款方案。分期付款是为了在年度商誉调整时能有效保障双方的利益。 虽然这看起来并不像合并与并购那么据有吸引力，但我们相信这种架构能帮助我们分辨出有诚意合并的小规模公司，他们通常会着重财务收益和客户的福祉。与此同时，他们将看见与我们合作的价值所在。 这战略逐步帮助我们提升服务效率，并使我们在日益严峻的市场中具有所需的竞争优势。在完成各个州属的收购后以及通过附属机构为当地企业和社区服务后，我们在当地的市场占有率和领导地位提高逐步提高。 相较过往集中在首都的运营，企业合并与联营战略带来的地理位置优势强化我们的服务速度与效率。一寸光阴一寸金，消耗在各个州属的通勤也大幅减少了。此外，因为我们的服务地区广泛，让我们的服务费用更具竞争力，进而增加现有客户的留存率和新客户的加入。自从启动合并和收购至今，我们已经与超过20多家事务所和会计师合并，接下来也将放眼发展这方面的合作。 成功的合并将在企业产生的协同效应，同时使其获得更大的人力资本和技术资源，以往这种资源通常需要大量的初始资金。然而，我们必需克服的最大挑战之一是如何带领被收购方的员工融合到我们现有的团队中。许多合并案例正式这个因素而出问题。 为了克服这个难题，我们为现有员工和新员工创建了“成长的愿景树”指南。 愿景树应用于培训中，为员工注入优势与能量 （Edge and Energy） ，充满热情地促进(Energize)和执行(Execute) [4Es]所有专业服务。它使我们的员工被培养拥抱和接纳多元化的文化、教育和信仰等。 实现这种企业文化需长期培训和团队的互动。在一年内，所有的新人都能完全融入了诚国的企业文化。在此后的合并中，我们能相对较快地容纳新员工进入我们的团队。 跨域传统会计和审计 我们的扩大市场占有率和市场划分的战略之一就是决定采用新的商业模式，使我们的业务更多元化、渗入新市场以增加业务量。然而，企业应一直牢记该专注于自己的核心优势和专长。以我们为例，诚国的核心优势和专长就是会计和审计。 在过去的十年里，我们已经扩展到全球商业服务领域。我们的企业咨询涵盖首次公开发行(IPO)、澳大利亚物业管理、公司秘书服务、企业资源规划等。 我们战略的另一个关键是专业企业家计划(PEP)，旨在培养我们业内顶尖专业人士的创业技能。2017年，马来西亚政府提出了到2020年培养6万名会计师的目标。这使我们更有动力去培训具创新思维的会计从业员和企业家来为国家建设和会计领域做出贡献。 在与主要合作伙伴和业界专家多番讨论并制定发展计划后，以PEP作为一个平台引入年轻的会计专业学生和毕业生以磨练他们的创业技能，并获得宝贵的实际的会计经验。今天，PEP已经成为我们蓝海战略（Blue Ocean strategy）的关键驱动力。它帮助我们识别了8位项目主管，各个主管都在按照我们的“10+10+10”业务增长战略推动他们所领导的项目。通过PEP，我们核心业务集群下的几项业务单位都由PEP结业者领导，他们的努力提升了诚国整体效益。 一段永无止境的创业之路 创业，尤其是会计行业，是极不容易的。关键是要始终确保在企业有扎实的成长、发展和面对低谷的可行性计划。有耐心和毅力的双管齐下后，这些经验都能轻松地应用到各种业务中。 艰苦的时光终将过去，但坚持的人会走到最后。每个企业家都应该敢于梦想，敢于失败。最初，当我创办Cheng & Co的时候，我的梦想是在10年内和10个合伙人一起收益1000万令吉。即使创业梦未必在预期的时候实现，或者根本不会实现，但他们会带着梦想继续前进，拥抱改变，并迎来成功地时刻。

On 28th November 2020, Tunku Abdul Rahman University College (TARUC) CIMA Society has invited our Executive Chairman, Dato’ Dr Chua Hock Hoo as honorable speaker to share his successful transformation story “The Journey of Home-grown Accounting Practice: Transformation From A Humble Firm To An International Professional Services Provider” The highlights of the sharing of The Journey of Homegrown Accounting Practice…

Cheng & Co Group’s Executive Chairman Dato’ Dr Chua Hock Hoo was officially honoured as the Adjunct Professor of the Centre of Global Business and Digital Economy Studies (GloBDE), University Kebangsaan Malaysia (UKM) at the Blockchain Talks @UKM programme yesterday. Among the guests at the forum include Tan Sri Dato Seri Wahid Omar, Chairman of the Board of Directors, UKM,…

The global industry 4.0 boom has brought about major changes in technology and local industrial policies. In line with this, SEGi University (SEGi) organised the International Conference on Industry 4.0 in Kuala Lumpur from 14 to 16 October 2019. Malaysian Prime Minister Tun Dr Mahathir Mohamed was the guest of honour. Cheng & Co and DSC Consulting jointly had a…

As 2019 edges closer to its conclusion, the good times are certainly rolling in for Cheng & Co. Our wholly owned subsidiary Pro B Centre has been announced as one of three finalists for the Accounting Partner of the Year – Malaysia honour for Xero Awards Asia 2019. The winners will be announced at Xero Roadshow Asia 2019 in November…

CIMB Foundations educational programme to empower SMEs, that began on 05 September 2019 came to a close at the weekend in Kuching Sarawak. The programme was aimed at guiding SMEs to align their businesses towards the digital era, especially the 4th Industrial Revolution (IR4.0). Participants had the opportunity to learn from successful cases and understand the value technology can add…

At the centre of our Vision 2020 to become the leading homegrown international accounting firm is our mergers and acquisitions strategy (M&A). The success of all our M&A strategies are down to careful planning and meticulous execution that has resulted in more than 20 M&As since 1993. Towards the end of 2018, we finally established our Penang branch and today…

CIMB Foundation organised an educational programme today to help SMEs align their businesses towards the digital era, especially the 4th Industrial Revolution (IR4.0). Many are simply not ready to deal with the impact IR4.0 will have on the business landscape, particularly in the area of e-commerce. The primary aim of this programme is to help participants learn from successful cases…

Cheng & Co’s ambition to become the largest homegrown international accounting firm, with offices in 100 locations, by 2020 is just over nine months away from realisation. In pursuit of the firm’s Vision 2020, a merger and acquisition (M&A) exercise took place on 26 March 2018 at Leadership Centre, Wisma Cheng & Co HQ. This time around, the merger was…

Cheng & Co Group, thru Pro B Centre Sdn Bhd has signed a strategic partner agreement with HReasily, a leading cloud Human Resource Payroll Solution. With this partnership, Pro B Centre aims to provide a better service to customer who are looking for payroll services regionally in Malaysia, Singapore, Cambodia, Hong Kong, Indonesia, Thailand and Philippines. With this partnership, ProB…

CHENG & CO JOINS FORCES WITH CURLEC TO PROVIDE INNOVATIVE PAYMENT SOLUTIONS FOR SMES Cheng & Co and Curlec are pleased to announce a strategic partnership that will allow Small and Medium Sized Enterprises (SMEs) to tap into the previously hard to access Direct Debit system. With the recently signed MoU, Cheng & Co’s client base can now enjoy the…

International Women’s Day is celebrated all over the world. At Cheng & Co, this special day presents a grand opportunity to celebrate the achievements and success of our women leaders who’ve played sterling roles in the growth of the firm since 1993. Here, some of our top women leaders have shared their brief thoughts on why being a woman with…

The Challenges that SMEs faced when Listings Listing is the gateway for a company into capital market where funds can be raised for business development and expansion. Many SMEs in Malaysia are family -run entities and with their own unique of managing the business. However, once a company grows to a certain level, it could require more capital and the…

Another major Memorandums of Understanding (MoU) signings took place this month at Cheng & Co! It was with MoneyMatch Sdn Bhd, an upcoming money remittance and currency exchange agency. A Malaysian FinTech start-up that began business in 2015, Money Match prides itself as a comprehensive, fully – digital peer-to-peer currency exchange platform, to transfer and exchange foreign currencies at great…

The MoU with Halyscon Resources Sdn Bhd, an agency that facilitates the overall development of the Halal industry in Malaysia as well as international markets, to promote Malaysia as a global Halal hub. Halsycon’s range of JAKIM-recognised services include end-to-end Halal integrity verification services, validated Halal test kits and tools, assisting and managing Halal applicants and, training and development programs.…

As we approach the era of the new industry revolution, everything changes very fast. From buying our groceries and daily supplies from markets, today we have evolved into buying anything with a simple click on your phone or computer. This, in essence, is where our collaboration with Funding Societies ( P2P financing ) will make a difference to small and…

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…

Small and medium enterprises (SMEs) in Malaysia received a major boost recently with Cheng & Co’s strategic partnership with Funding Societies. The significance of this partnership opens new doors for SMEs to raise funds via the peer-to-peer (P2P) financing platform. Cheng & Co will identify promising clients with great market potential and refer them to Funding Societies. The latter will…

Just over a year ago, Cheng & Co’s drive towards becoming the largest home-grown international accounting firm by 2020 went into high gear when the firm became a member of the prestigious TGS Global network. This has greatly strengthened Cheng & Co’s presence in the Asia-Pacific region and since then, a number of TGS members from other countries have dropped…

The Malaysian Institute of Accountants (MIA) hosted the prestigious MIA Conference 2017 on 7 and 8 November 2017 at the Kuala Lumpur Convention Centre in Kuala Lumpur, Malaysia. The conference is one of the most anticipated event of the year for the accounting industry and is MIA’s annual flagship event, offering the best avenue to develop the accountancy profession in…

PRO B Centre Sdn Bhd (PRO B), a wholly-owned subsidiary of Cheng & Co, signed a Memorandum of Understanding with ENVO BPO Services Sdn Bhd (Envo) at the firm’s headquarters in Kuchai Lama, Kuala Lumpur on 27 October 2017. ENVO BPO is a leading telemarketing outsourcing company in Malaysia and with this collaboration, PRO B and ENVO BPO will able…

Cheng & Co’s Deputy Managing Partner Mr Tan Wae Leng was recently invited by VA Partners and its Managing Director Mr Well Kam to deliver a talk on Malaysia’s capital market, particularly the Leading Entrepreneur Accelerator Platform (Leap) Market. The Leap market was launched by Bursa Malaysia in July as an alternative efficient funding platform for SMEs. The talk, held…

Cheng & Co’s all new branch in Taiping, Perak conducted its first ever Balanced Scorecard (BSC) sharing session on 16 October 2017. This is the first of many steps taken by Cheng & Co to slowly but surely establish the Taiping branch as a top 10 firm in the state of Perak. The branch is headed by one of Cheng…

Foreign Listings on TWSE Seminar Cheng & Co was among the co-organisers of the recent Foreign Listings on TWSE seminar and dinner at InterContinental Hotel in Kuala Lumpur, Malaysia. The seminar, held on 19 October 2017, was primarily conducted in Chinese and saw great response for the business community with many organisations eyeing expansions into international markets. Taiwan’s capital market…

Yayasan Peneraju Accounting Symposium 2017 At the recent Yayasan Peneraju Accounting Symposium 2017, the Second Finance Minister Datuk Seri Johari Abdul Ghani was quoted as saying “we aim to produce 60,000 accountants by 2020 and right now Malaysia has 33,000 professional accountants. Among them, 20,032 are chartered accountants.” This target aligns precisely with Cheng & Co’s own vision 2020 which…

Bursa Malaysia’s Leading Entrepreneur Accelerator Platform (Leap) Market was officially launched on 25 July 2017 as an alternative efficient funding platform for SMEs. This development is the first of its kind in the ASEAN Region. On 5 October 2017, Cheng & Co co-organised a conference on “The Pathway for SMEs Toward Listing – Preparation and Challenges” with the Federation of…

A Day To Savour For The Transformation Leadership Programme 2017 Graduates Six months of hard work finally came to fruition for Cheng & Co’s talented employees. It was time for their graduation from the Transformation Leadership Programme 2017. This year’s edition was unlike any other conducted in years past. Beyond classroom coaching and training sessions with the S.U.P.E.R series modules,…