Tricor Group (Tricor), Asia's leading business expansion specialist and leading provider of professional services, announced the signing of a sale and purchase agreement to acquire the Malaysia operations of Axcelasia Inc. (the "Transaction"), an integrated professional services firm delivering governance, risk & compliance (GRC) solutions, corporate, business and tax services.
Axcelasia Inc., ("Axcelasia") a SGX listed company, has a staff of 100+ professionals and a 1,000+ client portfolio consisting of public listed companies, private companies, government-linked entities and multinational corporations. The firm is led by seasoned executives with Big Four legacies, including Group CEO Mr. Ranjit Singh, Non-Executive Chairman Dr. Veerinderjeet Singh, and Deputy Executive Chairman Dato Peter Tang.
Upon completion of the Transaction, Axcelasia's corporate services and business support services will merge into Tricor Malaysia, making Tricor one of Malaysia's largest provider of corporate services to international and Malaysian corporations. In addition, Tricor will launch a new regional business line focused on delivering integrated governance, risk & compliance solutions to its 50,000+ clients worldwide.
Lennard Yong, Tricor Group CEO, said: "Upon completion, the Transaction strategically equips Tricor with new GRC capabilities to complete our service offerings and meet the client demand for GRC solutions in the Asia Pacific region. The transaction also strengthens our corporate, business and tax services in Malaysia. Axcelasia's dynamic, client-centric approach will be particularly valuable to Tricor as we continue to deepen our footprint and expand our portfolio of corporate services and business solutions to clients expanding across Asia Pacific."
Mr. Ranjit Singh, Axcelasia Group CEO, said: "We have dedicated ourselves to providing clients in Malaysia with integrated services of the highest standard. The integration of the operations of Axcelasia with Tricor allows the enlarged group to bring these services —especially GRC solutions — to a larger client base and also offers our clients in Malaysia access to Tricor's vast suite of services. The natural synergies of our services and staff will help make this integration seamless — and enable more clients and partners navigate their business expansion journeys in Asia Pacific and beyond."
For more information, please contact:
Tricor Services Limited
Group Head of Marketing & Communications
Tel: +852 2980 1261