ArchiveNovember 2017

Ato Spotlight RT LLP

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ATO Spotlight: RT LLP

For 2013, one of Singapore’s leading mid-tier accounting entities has taken on a fresh identity and is charting a new course to success

Posted on 18 October 2013 in ATO Xchange

 RT = Rapid transition

2013 has been a landmark year for accountancy in Singapore, and among the Small and Medium-sized Practices that embody this new spirit of change is the boutique accounting entity RT-LLP.

Led by CEO and Managing Partner Mr Ravi Arumugam, RT LLP is one of the top mid-tier accounting entities in Singapore. It also happens to be the largest homegrown independent (as well as a member of the global BKR International network). Among the entity’s offerings are: audit and advisory services; investigation and litigation support; taxation services; business set-up, incorporation and corporate secretarial support; outsourced and managed services; corporate advisory and corporate finance services; and risk advisory services.

RT LLP draws its 70-plus professional staff from across the region. In addition to its main premises at One Raffles Place, the entity has a second office at South Bridge Road.

 RT = Raising the bar for talent

In order to provide its clients with exceptional services, all accountancy staff of RT LLP are required to have a professional qualification (such as those offered by ACCA, CPA Australia or ICAEW). Since the launch of the Singapore Qualification Programme (QP) in July 2013, several staff have also become Candidates.

All new hires of RT LLP will also be required to take the Singapore QP. In terms of the support offered to Candidates, the entity will fully subsidise fees and Candidates are also not required to serve a bond.

During their studies, Candidates will also enjoy the professional guidance and mentorship of the entity’s partners. Says Mr Arumugam: “At RT LLP, we believe in a serious time commitment [on the part of our management team], and that is our value proposition for anyone joining us.”

Needless to say, this commitment also extends to training and development. To further sharpen their professional skills, staff undergo regular programmes on audit methodology, IFRS standards, tax updates and industry best practices, among other essential subjects. Regional assignments for all levels of staff also offer varied opportunities for further exposure and learning.

RT = Recreational time-outs!

RT LLP’s professional culture is based on the values of teamwork, communication and mutual respect. This close-knit spirit prevails after office-hours as well; among the favourites on the entity’s annual calendar are regular staff outings. In recent years, staff have also travelled to Indonesia, Taiwan and Thailand for the annual company get-away.

RT = Right time

RT LLP’s clients come from a variety of sectors and industries. As their requirements have grown in complexity, the entity has moved to enhance its offerings, providing even higher-quality, higher-value professional services.

To reflect this new strategic direction, in August 2013, the entity changed its name to RT LLP. This year, the entity also took the exciting step of conceptualizing and forming its very own accountancy network, one united by a common vision of accountancy excellence. “This gives us the freedom and liberty to expand our services, as long as they are high-value,” explains Mr Arumugam. “We want to be exceptional.” #

To learn more about RT LLP, click here or their page here on the Singapore QP website.

Parc Botannia Condo Press Release

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Parc Botannia is a brand new condominium to be jointly developed by Sing Development and Wee Hur development in Singapore. The project was tendered official on September 27th, with a winning bid of S$287.1 million. The Singapore Government has deemed this project as a step towards expanding the North-East Area of Singapore, in Fernvale Road at Sengkang.”

The residents of Sengkang have exciting news coming their way with the government masterplan. Parc Botannia, a brand new condominium project, is to be jointly developed by Sing Development and Wee Hur Development.

According to the local government, the project was tendered official on September 27th, with a winning bid of S$287.1 million. Following close behind is China’s Constructions proposal of S$287.09 million. The Housing Development Board foresee this as a positive outlook of the North-East Area of Singapore to evolve into a well-equipped sub-city on its own.

To accommodate the rising new population growth and housing requirements, this development offers 735 units across a variety of 1 to 5 bedroom, with 17,196.4 meters squared, a maximum gross floor area of 51,590 meters squared, and an accompanying 99 years leasehold.

Wee Hur Holdings LTD is one of the developers working on the Parc Botannia Condo. They have been creating housing residences in Singapore since their establishment in 1980. In January 2008, this company was listed on Singapore’s Exchange Mainboard, holding many years of experience.

Sing Development is another project development company that won the public tender for this project. They have been in existence since 1964, holding over 50 years of experience. This company is well-rounded, dedicated, and has the experience necessary to build an establishment such as this one. Recent developments performed by Sing Development include residential projects such as the BelleRive in Bukit Timah area or Waterwoods project in Punggol.

Ato Spotlight by UHY Lee Seng Chan

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With its corporate shades of blue and green, UHY Lee Seng Chan comes with an esteemed history. It is a family business that is now sprawled across 3 countries with plans to expand operations in the region with globalised yet localised services

UHY Lee Seng Chan has come a long way since its inception in 1967. It has grown from a 5-manned firm to a thriving and established organisation with over 200 staff in 5 offices. These offices are spread out in Singapore, Malaysia and China (Shanghai).

Under the prestigious UHY Network, UHY Lee Seng Chan is not just resting on the laurels of this accounting and consultancy network, which is incidentally ranked 25th in the world by fee income.

Multi-disciplinary & Focused

The firm has 10 partners who look after a multitude of professional services such as audit and assurance, income tax advisory, internal audit and risk management, corporate finance, China Business Desk and IT and business consulting.

Even though there is a wide spectrum of services offered, the division of work among the 10 partners, which includes Mr Lee Sen Choon, Head of Audit and Mr Lee Seng Suan, Head of Tax, the focus of the firm has never been clearer – a client-oriented approach.

Loyal Clients

Perhaps, the most accurate description of a company stems from none other than its most important stakeholders – their clients.  UHY Lee Seng Chan is the first firm in the ATO Spotlight to feature their customers.

Analabs, a consultancy and laboratory services in Kaki Bukit has been utilising their services for many years. An especially memorable working experience with UHY Lee Seng Chan was the period when they were trying to enter the China market (specifically Wuxi). The firm was roped in to help with the initial setup regarding compliance, reporting and auditing procedures, which to a new venture in a new environment, can be an intimidating experience.

Managing Director of Analabs, Mr Chua Boon Chun, voiced his opinions of the firm, saying, “UHY Lee Seng Chan places a strong emphasis on reliability and credibility, allowing our company to fully concentrate on our business.”

Mr Jeremy Fong, Managing Director of Fong’s Engineering, another of the firm’s clients and one of Singapore’s leading high precision engineering companies, agrees, “Even though I have only known the firm for 5 to 6 years, with their strong background in audit and international network, I can only keep recommending them to other organisations!”

 

A people’s firm

While we look outwards for gratification, one must also look inwards for feedback to improve oneself. UHY Lee Seng Chan’s staff has widely varied backgrounds but are armed with similar praises for the firm that has groomed them since the day they stepped in.

Take Mr Vincent Tang, a senior manager who hails from one of the Big 4. He is grateful for UHY Lee Seng Chan on its family-friendly policy which allows him to juggle family and work commitments. Another fine example is Ms Christina Tee, who has worked with the firm for an astounding 44 years. She cited her journey with the firm as happy, satisfying and memorable, especially when she could see ideas being implemented to create the UHY Lee Seng Chan as it is today. That and the fact that she saw through numerous office location changes – from South Bridge Road to Keypoint to its present address, The Concourse.

The 69th ATO

As one of the Accredited Training Organisations (ATOs), UHY Lee Seng Chan is fully committed to encourage staff to participate in activities organised by the Singapore Accountancy Commission (SAC).

Mr Lee Sen Choon says, “Being accredited helps in attracting more and better candidates. We hope to leverage on the resources provided by the SAC to retain quality staff, keep abreast of sector developments and contribute to the development of sound practices in the accountancy profession.”

Non-accountancy graduates – Leading by example

Armed with a degree in Science, Mr Lee Sen Choon switched profession by taking up the UK chartered accountancy. Now a senior partner in charge of audit as well as the firm’s training principal for the Singapore QP, he is a strong believer in going for what you want as long as you have the passion and aptitude to succeed.

With more than 8 approved mentors in the firm and following a structured training programme, Singapore QP candidates in the firm will find themselves in a favourable position to work towards the Chartered Accountant of Singapore qualification.

The firm has so far recruited 4 UniSIM graduates who have expressed keen interest in pursuing the Singapore QP in January 2014 and is looking to hire both accountancy and non-accountancy graduates.

Overseas Exposure – Fulfiling your personal aspirations

If you are keen on overseas rotation, UHY Lee Seng Chan provides attachments to overseas offices such as China. Says Mr Lee Seng Suan, Head of Tax in the firm with over 45 years in the industry, “We cover almost all Asian countries on a varied portfolio such as manufacturing, trading, logistics and property development.”

“More importantly, there are no restrictions in years of service for staff to be able to be assigned overseas. Possessing overseas working exposure will help staff to work and think globally and enable them to serve our clients on an international basis.”

For today’s Generation Y professionals who most value the experience of acquiring skills and making friends/connections in a different environment while fulfiling their own personal aspirations, UHY Lee Seng Chan is indeed a great place to make their mark in.

To learn more about UHY Lee Seng Chan, visit their homepage and their personal page on the Singapore QP website.

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