MHC Partnership LLP (formerly MHC & Associates, DFK) was established in December 1997 by Mr Cheong Mun Hong. Ms Cheong Kum Foong joined as a partner in March 1998. Mr Sim Wee Leong was admitted as a partner in January 2020.
Our firm was admitted as a member firm of DFK International, a major worldwide group of independent accounting firms. DFK International is represented in 90 countries and has a total of 215 individual member firms operating from over 417 offices in 90 countries. Being affiliated with DFK International allows us to meet the needs of businesses and individuals with interests in more than one country.
Our professional practice has 3 partners with staff strength of more than 20 professional and support staff. We are well equipped to provide accounting, auditing, taxation, corporate secretarial and consultancy services to a wide range of clients.
Our firm’s clientele includes manufacturers, traders, contractors/developers, solicitors, schools, travel agencies, management corporations and clubs/societies/associations. We are also engaged by the Ministry of Education to perform internal audit for government schools in Singapore. So far, we have carried out internal audit for more than 50 government schools ranging from primary schools to junior colleges.
Our firm’s services extend beyond Singapore as the partners, managers and professional staff have performed audit and due diligence work in China and Malaysia as well as business advisory and taxation services for our clients’ Malaysian and Hong Kong operations.
Structured in-house training courses covering topics on audit, taxation and management are held frequently to develop our people and to keep abreast with rapid changes in technology and legislation.
Our partners and managers have also published several research articles and conducted seminars on various topics of current development for our clients and business associates. The research articles cover a wide range of interesting and relevant topics. The seminars conducted by us have received good response from clients and business associates and details of the seminars can be accessed from our website.
We also take pride in our involvement with community services. We organise donations to charitable organisation regularly. For example, we have participated in donation drives during the Turkey and India earthquake disasters and the Asia tsunamis. In 2000, we have also been conferred an award by Nanyang Technological University, Nanyang Business School for our participation in the professional attachment training programme in which we provide on the job training to accountancy undergraduates.
In April 2013, our firm has been appointed as an Accredited Training Organisation (“ATO”) by the Singapore Accountancy Commission (“SAC”).
As an ATO, we are recognized by the SAC as having the appropriate working environment, and mentoring support for staff who wish to undertake the Singapore Qualification Programme (“QP”). In line with the CDAS Final Report, we believe that the Singapore QP will attract talent from all disciplines to join us and aspire to be Chartered Accountants of Singapore.
In early 2014, we have joined Singapore Accountancy Alliance (“SAA”) which is an initiative spearheaded by CPA Australia to increase the capability which expand on the range of services offered by Small and medium practices (SMPs). Efforts are focused on improving services, providing enhancements in processes such as succession planning and leveraging on CPA Australia’s extensive infrastructure and resources to achieve greater economies of scale. The SAA also hopes to build up the profile of a global brand that is accepted and recognised in the market.
In March 2014, our firm has been awarded by the CPA Australia the Recognized Employer status (Knowledge Level).
In September 2014, our application for ACCA Approved Employer – Trainee Development (GOLD) has also been approved.
Trainees studying towards the CPA Australia and ACCA qualification can claim exemption from the performance objective component of their practical experience requirements. They will only be required to use their own record to provide details of their employment and to claim the performance objective exemption.
Cheong Mun Hong
Mr Cheong Mun Hong is a Fellow (practising) of the Institute of Singapore Chartered Accountants (“ISCA”) and a Fellow of the CPA Australia. He graduated from the National University of Singapore in 1989 and obtained his Master Degree in Business Administration with Distinction awarded by The University of Wales, Bangor, in co-operation with The Manchester Business School in July 1997.
Mun Hong started his professional career with Price Waterhouse (now PriceWaterhouseCoopers) in Singapore and left as an Assistant Audit Manager in 1994. He joined PriceWaterhouse Dahua in Shanghai in January 1995. After gaining experience in Shanghai as an Audit Manager for approximately two years, he returned to Singapore to join Cheong Khee San & Co (now known as K F Cheong & Associates) and was later admitted as a partner. In December 1997, he resigned to set up his own accounting firm, MH Cheong & Associate, subsequently renamed as MHC & Associates, DFK and now converted to MHC Partnership LLP.
He has been involved in corporate restructuring and listing of companies on the Stock Exchange of Singapore (now SGX) and KLSE, audit of SGX listed companies and their subsidiaries (local and overseas), a special project on transfer of assets in China involving a KLSE listed company and a SGX listed company, audit of B shares listed companies in China, listing of China state owned companies in overseas stock exchange and various due diligence work in Singapore and in China.
Mun Hong specialised in the audit of banks and stockbroking firms before he left for China. He has also participated in a World Bank funded project to assist the People’s Bank of China in strengthening their regulatory and supervisory functions.
He has also been involved in designing training courses, developing training materials and conducting training courses, both in-house and for multi-national corporate clients.
Mun Hong had also served as a director of SBI E2-Capital Pte Ltd (later known as Westcomb Capital Pte. Ltd.) a prominent company providing corporate finance advisory services for clients seeking public listing.
He had served as an Institute of Certified Public Accountants of Singapore (now known as ISCA) committee member in the Members’ Welfare Committee in 1999/2000 and as a member to the Panel of Inquiry Committee of the Public Accountants Board from 15 March 2003 to 31 March 2004. He was appointed as a member of The Investigation and Disciplinary Panel of the ISCA since April 2013. He was also appointed as a member of the Complaints and Disciplinary Panel from 1 April 2019 to 31 March 2021 by the Public Accountants Oversight Committee (“PAOC”), which administer audit regulation under the Accountants Act for Accounting and Corporate Regulatory Authority (“ACRA”).
Mun Hong has been involved as a facilitator of Singapore QP, taking Assurance and Financial Reporting modules, and has helped various practising accountants in cold review and hot review. He has also been appointed as an Associate Faculty in Singapore Institute of Technology (“SIT”).
Cheong Kum Foong
Ms Cheong Kum Foong is a Fellow (practising) member of the Institute of Singapore Chartered Accountants (“ISCA”) as well as a FCPA member of CPA Australia. She is also a Fellow member of the Chartered Secretaries Institute of Singapore as well as a Fellow of the Association of Chartered Certified Accountants. She has been admitted as Certified Internal Auditor of the Institute of Internal Auditors and ASEAN Chartered Professional Accountant by the ASEAN Chartered Professional Accountant Coordinating Committee in 2018.
Kum Foong started her professional career in 1986 with a prominent local accounting firm and was admitted as a partner in May 1990. She joined MH Cheong & Associates, subsequently renamed as MHC & Associates, DFK and now converted to MHC Partnership LLP, as a partner in March 1998.
Having worked many years in the profession since 1986, she has much experience in audit and preparation of group financial statements of small and medium size enterprises, local and listed companies in Singapore. Besides statutory financial audits, she is also involved in advisory work relating to due diligence, listing application and prospectus relating to initial public offering. She has been involved in the listing of 5 companies in Singapore.
Kum Foong’s other professional experience includes advice on new establishments, corporate liquidation, share valuation and profit forecast review. She has also been involved in designing training programmes as well as conducting seminars and in-house training courses. She has been appointed as an adjunct lecturer in Nanyang Polytechnic and an Associate Faculty in Singapore Institute of Technology since 2006 and 2012 respectively. She is also the Workshop facilitator for the Singapore QP programme since 2013. She was also appointed as a Technical reviewer of the Financial Reporting Module of the Singapore QP since early 2014.
She had served as a member to the Panel of Inquiry Committee of the Public Accountants Board from 15 March 2003 to 31 March 2004. She was also appointed as a member of the Complaints and Disciplinary Panel of the Public Accountants Oversight Committee for a term of two years from 17 June 2004 to 16 June 2006. She was re-appointed as a member of the Panel for a two-year term from 17 May 2006 to 16 May 2008 and thereafter from 17 May 2008 to 16 May 2010. The Committee was set up under the Accountants Act 2004 to assist the Accounting and Corporate Regulatory Authority (“ACRA”) in the discharge of its function. She has also been appointed in both the Hot Review and Peer Review Panel by the ISCA for the period from 1 January to 31 December 2013. In 2015, she has been appointed as a member of the ISCA Investigation and Disciplinary Panel for a term of two years. She was re-appointed as a member of the panel in 2017 for another two years term.
In 2020, she has been appointed as a member of the ISCA Public Accounting Practice Committee for a term of two years.
Sim Wee Leong
Sim Wee Leong is a member (practising) of the Institute of Singapore Chartered Accountants (“ISCA”). He graduated from the National University of Singapore in 1989.
Wee Leong started his professional career with Touche Ross & Co (now Deloitte LLP) in May 1989. Between September 1994 to March 1996, he was with Deloitte & Touche (Houston, USA) under the firm’s global “Strategic Career Development Program”. Wee Leong left as a Manager in June 1997 whereupon he took over the practice of Smalley & Co, the predecessor firm of Smalley & Sims PAC.
Wee Leong’s portfolio at Smalley & Sims PAC included the audit of multi-national corporate clients as well as local entities from a broad range of industries including construction, shipping manufacturing and trading.
He currently also serves as independent director in a company listed on the SGX.
Ms Esther Choo is a member (non-practising) of the Institute of Singapore Chartered Accountants (“ISCA”), a member of the CPA Australia and a Fellow of the Association of Chartered Certified Accountants. She is also an Accredited Tax Advisor (Income Tax) and an Accredited Tax Practitioner (GST) with the Singapore Institute of Accredited Tax Professionals.
She has been working in the field for taxation since 1991. Prior to joining the company, she has worked in tax division of various public accounting firms.
She handles a wide portfolio of clients including public-listed companies and is involved in both compliance and general tax advisory services for corporate and individual clients.
Miss Low Chui Hoon is a Fellow member (non-practising) of the Institute of Singapore Chartered Accountants (“ISCA”) and CPA Australia. She graduated from the University of Newcastle, Australia in 1994.
Chui Hoon started her professional career in 1996 with a prominent local accounting firm. She joined our firm as a senior audit assistant in 1998.
Over the years, she has been involved in the audit of small and medium size local companies and preparation of group financial statements of medium size enterprises. Besides statutory financial audits, she has been involved in works related to internal audit of schools, share valuation and review of profit forecast. She also conducts in-house training courses.