The Star Online
By DANNY YAP
It targets jobs from companies planning to go for listing
PETALING JAYA: Local audit firm Baker Tilly Monteiro Heng Sdn Bhd (BTMH), which launched its first accounting office in Phnom Penh on Jan 16, expects to capture a portion of the auditing work for companies planning to list on the Cambodian stock exchange which commences trading in December.
Partner Lock Peng Kuan said in view of the global economic slowdown, the company regarded its foray into Cambodia as a good strategy.
“We feel the time is right to invest in developing markets like Cambodia,” he told StarBiz.
Lock added that since early 1990s, Cambodia had enjoyed an average economic growth of 7.1% per annum, driven largely by the construction and tourism sectors.
By the late 90s, the country had a rapidly emerging garment sector and greater private investment, in response to the improved business climate and government’s positive reforms.
By DANNY YAP
It targets jobs from companies planning to go for listing
PETALING JAYA: Local audit firm Baker Tilly Monteiro Heng Sdn Bhd (BTMH), which launched its first accounting office in Phnom Penh on Jan 16, expects to capture a portion of the auditing work for companies planning to list on the Cambodian stock exchange which commences trading in December.
Partner Lock Peng Kuan said in view of the global economic slowdown, the company regarded its foray into Cambodia as a good strategy.
“We feel the time is right to invest in developing markets like Cambodia,” he told StarBiz.
Lock added that since early 1990s, Cambodia had enjoyed an average economic growth of 7.1% per annum, driven largely by the construction and tourism sectors.
By the late 90s, the country had a rapidly emerging garment sector and greater private investment, in response to the improved business climate and government’s positive reforms.
From right: Baker Tilly MH Audit Ltd executive partner Andrew Heng, Hong Panharith, Lock Peng Kuan, a Cambodian government official and Baker Tilly MH associate partner Joe HengCurrently, there are only 21 approved audit firms in Cambodia and BTMH is one of the international firms that have successfully set up an operation there.
Associate partner Joe Heng said in a statement that in view of the market potential in Cambodia, BTMH was pleased to have its office set up at this time.
The new office was also expected to help multinational corporations operating there.
Meanwhile, three of BTMH partners have been admitted and recognised as certified public accountants and approved auditors by the Kampuchaea Institute of Certified Public Accountants and Auditors.
They are executive partner Andrew Heng; Lock and Joe Heng.
Cambodian Foreign Affairs Ministry Inspector General Hong Panharith said in the statement: “We hope BTMH’s presence would contribute to the growth of our country’s corporate governance.”
BTMH offers a full range of professional services which include audit, taxation, corporate advisory, forensics and investigation, corporate recovery, restructuring and insolvency.
Associate partner Joe Heng said in a statement that in view of the market potential in Cambodia, BTMH was pleased to have its office set up at this time.
The new office was also expected to help multinational corporations operating there.
Meanwhile, three of BTMH partners have been admitted and recognised as certified public accountants and approved auditors by the Kampuchaea Institute of Certified Public Accountants and Auditors.
They are executive partner Andrew Heng; Lock and Joe Heng.
Cambodian Foreign Affairs Ministry Inspector General Hong Panharith said in the statement: “We hope BTMH’s presence would contribute to the growth of our country’s corporate governance.”
BTMH offers a full range of professional services which include audit, taxation, corporate advisory, forensics and investigation, corporate recovery, restructuring and insolvency.
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