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Tricor acquires Axcelasia’s professional services business in Malaysia

Tricor acquires Axcelasia’s professional services business in Malaysia
Tricor acquires Axcelasia’s professional services business in Malaysia

Tricor Group, a leading professional service provider and a business expansion specialist in Asia, has recently winded up its sale and purchase agreement which was made to acquire the Malaysian operations of Axcelasia Inc., a professional services company delivering Governance, Risk & Compliance (GRC) solutions, business, tax, and corporate services.

Axcelasia Inc. is essentially an SGX listed firm that has a staff of more than 100 professionals as well as a client portfolio of more than 1000, consisting of public listed firms, entities linked with the government as well as multinational corporations. The company is mainly led by the experienced industry executives that include Dr. Veerinderjeet Singh, the Non-Executive Chairman; Dato Peter Tang, Deputy Executive Chairman and Mr. Ranjit Singh, the CEO of the firm.

Apparently, the transaction is a basic representation of the unveiling of a newer regional Governance, Risk & Compliance business and to help the clients manage the rising complicated regulatory and even compliance responsibilities while they are surfacing as well as maturing in economies from the Asia Pacific region.

Tricor’s investment will majorly be its first step in building an integrated collection of GRC solutions which can deliver improved value with the support of deep advisory expertise with technology that is client-centric. Moreover, the business support service and the corporate services of Axcelasia will be merging into Tricor Malaysia, which will make the latter the largest provider of corporate services in Malaysia, to both international and Malaysian Corporations.

CEO of Tricor Group, Mr. Lennard Yong stated that companies have been facing major challenges in a critical situation like the COVID-19 pandemic and Axcelasia’s premier services particularly in enterprise risk management has been more critical to the company’s clients.

Yong further added that Axcelasia has been the main GRC provider, related to consulting services and internal audit that will be improving the platform of Tricor as the company is looking for a wider range of services for the clients in helping them navigate throughout the supply and demand shock.

 

Source Credit- https://finance.yahoo.com/news/tricor-group-completes-acquisition-malaysian-000000168.html

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Sunil Jha

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