Innovspace Business Center, 11/4, Pooja Garden Kalapatti Main Road, Civil Aerodrome Post
March 17, 2023
March 17, 2023
March 7, 2023
Every year on 8 March, the world celebrates International Women’s Day to acknowledge women’s social, economic, cultural, and political accomplishments. It is also a time to take action towards achieving gender equality and empowering women. This year, Kreston Global aims to highlight some remarkable women within the organisation and gain their perspectives on what it takes to succeed as a woman in the network.
Annie Sun is a highly accomplished professional with nearly two decades of experience in accounting and statistics. She currently serves as the CEO of Brighture, a leading firm in China that specialises in providing expert accounting services to clients across various industries. Founded in 2003, Brighture has rapidly become a key player in the industry, thanks in no small part to Annie’s exceptional leadership and guidance. In 2015, the company joined the Kreston Global network, further cementing its reputation as a leading provider of accounting services in the region.
Why did you decide to run your firm?
Being a professional, I want to help more entrepreneurs succeed.
What qualities do you need to run a successful accounting firm?
To run a successful accounting firm, the endless selection of “professional, integrity and efficient” internal and external clients, namely colleagues and customers, helps.
How do you support equality in your firm?
There are two main points:
We recently surveyed ‘interpreneurs’ – entrepreneurs looking to expand internationally. The data showed that female CEOs were more likely than males to consider expanding overseas. Why do you think this might be?
Female CEOs may be more focused on collaboration and resource integration.
There was a significant indication that existing networks were an attraction to overseas expansion in particular countries; why do you think female interpreneurs value this more than their male counterparts?
The network can maximize the unity, service concept, and standards, which is a guarantee for both the company team and the clients.
What advice would you give female entrepreneurs starting today, or would you give your 28-year-old self?
Attentively adapt to society’s development and clients’ needs, with professional expertise to help them achieve success and stability.
To learn more about doing business in China, click here.
March 6, 2023
If you are planning on investing in Asia Pacific in 2023, Kreston Global has launched a comprehensive guide to expanding into the Asia Pacific region with the new publication, “Doing business in Asia Pacific”. This inaugural edition of “Doing Businesses in Asia Pacific”, written by Kreston Global experts within the region, offers invaluable advice on navigating the market requirements in this region, and setting up investors for success.
Kreston Global capabilities in the Asia Pacific region are both geographically and commercially diverse, with 21 exciting markets and locations, represented by 46 member firms with 146 offices and 6, 000+ professionals across the region, generating over US $490 million in fees each year.
The guide includes detailed features covering the economic outlook for 2023 and recommended sectors that are highlighted by local experts as ready for investment. Australia, China, Thailand and India are larger features, with summaries for New Zealand and Malaysia and plenty of advice on how to practically set up businesses in the region.
February 24, 2023
Kreston Global has welcomed new Bangladesh-based firm Howlader Maria & Co., (HmAC) to the Kreston network.
Howlader Maria & Co., (HmAC) is one of the fast-growing Chartered Accountants firms in Bangladesh. Based in Dhaka, the firm offers audit, accounting, outsourcing, tax, foreign direct investment facilitation & business consulting services to international businesses and foreign subsidiaries based in Bangladesh and overseas. Regardless of the nature or size of the engagement, HmAC insists on the best quality services, working in clients’ best interests while upholding the firm’s values of integrity and professionalism. The people of HmAC are experts in their respective fields and take pride in their problem-solving approach to helping business by easing the challenges they face in doing business at home and abroad.
Howlader Maria & Co., (HmAC) was founded by renowned Chartered Accountant Maria Howlader. Prior to this, Maria was a partner for 11 years in A. Qasem & Co., Chartered Accountants, a member firm of Ernst & Young (EY).
The firm comprises 34 employees. The firm also offers a separate outsourcing service, back office support services for overseas and domestic clients needing help with accounting services such as accounts preparation, payroll and tax compliance – these business outsourcing solutions are provided through HmAC BPO.
Maria Howlader was Vice President of the Institute of Chartered Accountants of Bangladesh (ICAB) in 2021 and is currently a Council /Board member. She is also a Director on the Board of the Japan-Bangladesh Chamber of Commerce & Industry (JBCCI), and a frequent speaker on different forums and chambers in connection with taxation, doing business in Bangladesh and company law.
Maria Howlader, CEO at Howlader Maria & Co. said:
“We are very ambitious for growth in this firm and joining the Kreston network will accelerate this for us both locally and internationally. Being able to help our international clients connect and expand overseas in collaboration with our network colleagues will be hugely beneficial for our future growth and success. I am excited to begin our journey together.”
Liza Robbins, Chief Executive of Kreston Global, said:
“Kreston is delighted to have Maria Howlader join our network as they have such an entrepreneurial mindset which fits beautifully with our Kreston culture and client profile. Our Asia Pacific region is going from strength to strength as a result of Kreston’s collaborative and dynamic firms.”
To learn more about doing business in Bangladesh, click here.
February 14, 2023
Kreston firm, Brighture, shares its expertise in its latest February 2023 newsletter covering financial news and updates from China.
January 25, 2023
Japanese foreign investment almost doubled in 2021 and looks to increase in 2023. Liza Robbins, Kreston Global Chief Executive, and Marek Lehocky, CEO of Kreston ProWorks in Japan were recently invited to comment on this increase in foreign investors entering the Japanese market. Read the full Bloomberg article here or the summary below.
The influx of foreign companies increased a decade ago with then-prime minister Shinzo Abe’s push for inbound investment; however, it decreased during the pandemic. Recently, global tensions between the US and China, and China and Taiwan and the weakening yen and a stagnant wages marker saw investment in Japan double in one year. Inward investment figures topped $20 billion in 2021, creating a new market for accounting firms. There is room for more growth in the Japanese tax, accounting, and audit market, which is mostly dominated by the Big Four.
Foreign direct investment is increasing and has been predicted to increase in 2023 by Martin Schulz, chief policy economist of Fujitsu’s Strategy Planning Division. Japanese government data suggest high growth in 2021 for foreign direct investment fields such as communications, chemicals and pharmaceuticals, electrical machinery, and the finance and insurance sectors. Foreign direct investment is also increasing due to the 21 bilateral free-trade agreements Japan has signed in the last few years. Growth prospects for the Japanese tax, accounting, and audit market remain positive, as there is room for growth among small and medium-sized enterprises with overseas businesses.
Marek’s firm Kreston ProWorks joined Kreston Global in 2022, as he is able to offer complementary services to the other two Kreston Global firms that offer auditing services. Liza Robbins, Kreston Global Chief Executive, sees this new partnership with Kreston ProWorks as an investment gateway for Kreston Global clients.
If you are interested in investing in Japan, get in touch.
January 23, 2023
LONDON – Kreston Global has begun 2023 by welcoming eight new member firms on four continents: India, Uganda, Lebanon, Japan, Croatia, Bangladesh, Chile and Taiwan.
The eight new member firms are:
Kreston Croatia was founded by Managing Partner Ivan Pečur who has worked in a number of international accountancy organisations over the last 16 years as an audit partner. He is joined by two other partners.
Bhatia & Bhatia was founded in 1981 and provides audit, tax and accounting services to a range of domestic and international clients. It works closely with a broad base of affiliated chartered accountant firms across all major cities in India.
Kreston HM was founded by Managing Partner Hitesh Mehta in 2005. It provides audit, accounting services and tax advisory to international and local clients from its offices in Kampala and Jinja. It has three partners and 45 staff.
Accurate Accounting & Audit was founded in 2021 and is led by four certified auditors. It has over 20 staff based in its central Beirut offices, providing services to corporate and private clients across the construction and building supplies, professional partnerships, hospitality, retail and sports sectors.
Maria Howlader and Co is based in Dhaka, Bangladesh and comprises 34 employees and offers audit, accounting and tax services to international businesses and foreign subsidiaries based in Bangladesh and overseas.
Kreston ATC Chile is a newly established firm in Chile, based in Santiago. The firm has 24 staff and five partners, and is led by Managing Partner Hans Caro. The firm is made up of previous Kreston partners including Ricardo Gameroff who is already involved with the Kreston network through the Global Audit and Quality
Groups. The firm has a number of international clients and specializes in external and internal audits, taxes, risk advisory, forensics, payroll and bookkeeping.
Top New & Co is based in Taipei, Taiwan and is returning to the Kreston network after a few months away. Run by Yashu Hung, who is the lead audit partner, together with two other audit partners and a staff of 20, they offer audit and accounting services to a range of privately owned and not-for-profit organisations.
2022 saw Kreston Global holding its hugely successful network-wide conference in Madrid, the first in-person conference the network has held since the pandemic began. 2022 also saw the launch of its first Environmental, Social and Governance Advisory Committee, launch of new international steering groups for Internal Audit, Transfer Pricing and Life Sciences, and lastly a flagship thought leadership report, ‘The Interpreneur Mindset’.
Liza Robbins, Chief Executive of Kreston Global, said:
“It is with great pleasure that I welcome our latest joiners to the Kreston Global network. To have eight firms join in a short period is a major achievement, but to have eight firms of this calibre join is a significant testament to our depth and breadth.
“In recent years we have spent a great deal of time evaluating and fine-tuning our strategy. We have listened closely to our members, working with them on a range of areas and launching a number of exciting new initiatives. I am excited to move into 2023 with both our existing and new colleagues as we continue to develop our proposition to the entrepreneurial business community.”
Get in touch to talk about how Kreston Global firms can help your expanding business in these eight countries.
January 6, 2023
December 19, 2022
Kreston Global firm, Kreston John & Gan, has supported their client ECA Integrated Solution Berhad to achieve IPO on the Malaysian market.
The ACE Market is a sponsor-driven market created for companies with growth prospects. ECA provides integrated production systems and automated machinery for the automated manufacturing industry. In addition, the business serves clients globally and offers integrated assemblies and mechanical test-handling equipment.
The Kreston Global partner in charge of this success is Declan Yong, pictured second from the left. Declan is an expert in auditing, including auditing several publicly traded companies and multinational enterprises with operations in various industries, including plantations, real estate development, manufacturing, hotels, forestry, information technology, and others.
In addition to audit engagements, he has contributed significantly to numerous corporate and special assignments, offering a wide range of transaction support services, including financial due diligence review, review of financial projections, forensic accounting, business valuation, and reporting accountant for initial public offerings, reverse takeovers, private debt securities, and other corporate restructuring plans. These skills have all contributed to the firms IPO success in the Malaysian market.
“We are delighted to be the business solution partner of ECA and help them achieve their business goals” -Declan Yong
October 26, 2022
We have a brand new episode – and brand new guests to go with it – from our podcast, The International Entrepreneur.
Join JohnMarcarian, founder of both Expatland Global Network and CST Global Tax Advisers, and Boon Tan, Managing Director of CST Tax Advisers Singapore to dig a little deeper into what makes a successful interpreneur, and why courage and resilience are the two most important traits for those looking to expand their business.
Listen here now: https://bit.ly/3CYGHzH
September 22, 2022
Crest Healthcare is a private limited group company encompassing several subsidiaries including Crest Life Sciences, Crest Topicals and Crest Hygiene. Crest Group is a leading manufacturer and supplier of a range of pharmaceutical products such as calcium and vitamin D3 suspension, azithromycin oral suspension, Multivitamin syrup and homecare products for various pharma and FMCG Companies. Clients include Cipla, USV, Indoco, J.B. Chemicals and Curever.
The Crest Group was acquired jointly by private investors who appointed Kreston SGCO in India to advise on all aspects of the complex deal. This involved acquiring a 100% stake in the group for the two investors via a Share Purchase Deal.
The deal comprises transfer of overall control and management of Crest Group of Companies along with transfer of possession of all the assets and manufacturing facilities of the companies. Products are manufactured at the Group’s state-of-the-art unit at Baddi, Himachal Pradesh and Sarigaon, Valsad.
The team at Kreston SGCO carried out a wide range of specialist work including:
Client comments: “This was an important acquisition for us and Kreston SGCO’s expertise and advice ensured a successful outcome.”
The team’s main advisers were Vidhi Shah, Dhwani Shah, Jay Bhatt and Soyeb Shah.
Keat Heng, ACCA, CPA has more than 17 years of experience in tax & accounting consulting services with international accounting firms including transfer pricing documentation, property valuation, business risk assessment, financing arrangement, M & A engagement, and cross border tax & accounting assignment.
Haing Sivtieng, MBA, CAT has been involving in tax and accounting services for more than 10 years with international tax, annual income tax, VAT, Withholding taxes, M & A and cross border assignment. She received her Certified Accounting for Technician from ACCA, UK and got a Master in Finance from the Nantes University of France. She speaks fluently in Chinese and English.
September 12, 2022
In Cambodia currently, some of the most pressing corporate issues are in the area of transfer pricing risk. Those risks are mitigated through understanding, planning, and compliance with tax regulations.
Taxpayers already face problems in the areas of intra-group sale and purchase transactions, related parties’ loan, salary and rental rates which often result in tax reassessments by the tax officer.
In 2017 Ministry of Economic & Finance issued Prakas on Determination of Revenue & Expenditure of Related Parties which covered arm’s length analysis, arm’s length range, methods that apply to arm’s length transaction, intra group services, and documentation.
August 30, 2022
August 18, 2022
Kreston SNR will be taking part in the International Climate Summit 2022 – Opportunities for Green Hydrogen in India, scheduled to be held in Bergen, Norway on 30 and 31 August 2022.
Kreston SNR is the knowledge partner to the Summit which has been organised by Greenstat of Norway and the PHD Chamber of Commerce and Industry (PHDCCI), in partnership with Invest India and other notable support partners.
The summit is an excellent opportunity to engage the international community in India’s transition journey from fossil fuel to zero carbon energy. A knowledge book on green hydrogen opportunities in India will be released on the first day of the summit. The book has been authored by Dr JP Gupta, Chairman of Kreston SNR Advisory Board, and the Chairman of the Summit with Mahendra Rustagi, CEO of Kreston SNR, also contributing an article on ESG.
The main feature of the summit is to showcase India’s unique position as an attractive destination for the production of green hydrogen due to the availability of renewable energy at the lowest price. This summit will undoubtedly attract interest from investors in this industry, safety companies, hydrogen production companies and R&D labs looking to collaborate with Indian partners for the production of green hydrogen to make India Aatam-Nirbhar (self-reliant).
Norway has been working with hydrogen for the last 125 years and is the front runner in the green hydrogen space today. This is an international event, involving several key territories, including Norway, the European Union, US and Japan.
Also, a delegation of around 100 participants from India and several large companies in the oil sector from Norway and the European Union are participating in the Summit, in person.
If you would like to attend, you can register here www.ics-hydrogen.com. Online registration is free.
August 16, 2022