Services

SERVICES

Audit Services

Our structured audit approach ensures that we obtain a thorough understanding of the client’s business operation and risk.  This enhances the quality of the audit and at the same time maintains cost effectiveness for the benefit of our clients.  We do not audit only for statutory requirement. We recommend improvements to any weaknesses in accounting and internal control systems identified during our audit, and provide other value added services.

Both partners have extensive experience in auditing. Mun Hong has been in the audit profession since 1989 with more than 7 years with Price Waterhouse (Singapore) and Price Waterhouse Dahua (Shanghai).  Kum Foong has been in the auditing industry since 1986.

Our audit group provides the following services:

  • Annual financial statements statutory audit
    · Compliance audit
    · Internal audit
    · Computer and manual accounting system development
    · Implementation and review
    · International audit of overseas investments
    · Cash count on fruit and gaming machines for clubs
    · Other assurance related services

Person to contact:

Mr Cheong Mun Hong (Partner) – munhong@mhcllp.com

Ms Cheong Kum Foong (Partner) – kumfoong@mhcllp.com

 

Taxation Services

Taxation has become significantly more complex in today’s environment. Tax expense can be a substantial cash outlay for any business. Therefore, it is crucial to obtain good advice to ensure proper tax compliance. Our taxation services associate, MHC Tax Services Pte. Ltd. aims to help individuals and corporations maximise tax savings within the tax legal framework. They can look into your corporate structure to identify areas for strategic tax planning. They can also provide advice on individual tax management to maximise after-tax income.

Our taxation services associate provides high quality taxation services as follows:

  • Tax compliance for companies
    · Tax compliance for sole-proprietors, partnerships and individuals
    · Corporate tax planning, review and restructuring
    · Individual tax planning
    · Advice on tax efficient remuneration package
    · Advice on dividend pay-out
    · Advice on international tax issues using our DFK International networks
    · Advice on withholding taxes
    · Tax objections and appeal in respect of disputes on tax assessed
    · Assistance on payroll compliance and Form IR8A reporting
    · Advice on Goods and Services Tax
    · Advice on other tax related matters

Person to contact:

Ms Esther Choo (Manager) – tax@mhcllp.com

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Consultancy Services

Our consultancy services can help to develop strategies for your company’s growth. Our areas of expertise include corporate restructuring amongst others. We have successfully completed a restructuring exercise involving companies located in Singapore, Malaysia and Hong Kong. Other areas of work handled include business advisory, financial projection and feasibility studies for companies requiring start-up funds from investors, business and share valuations and advice on shareholders agreement.

Kum Foong has been involved in the successful listing of 5 companies in Singapore; including 2 mainboard and 3 SESDAQ companies, acting as auditors and reporting accountants in these jobs. Hence, we assure that our services are of high quality in preparation for initial public offering on SGX (formerly SES). The work involved will encompass due diligence review, profit forecast, proforma accounts and assistance in preparation and review of prospectus.

Mun Hong has been involved in corporate consultancy for group restructuring, project feasibility studies for financing new start-up companies and business valuations.

Our consulting arm is able to assist corporations improve businesses, perform business process improvement and redesign so that your company gain competitive advantage.  Apart from improving and reengineering your existing core processes, we can also help you reinvent your business by implementing revenue-enhancing and cost-saving strategies and IT solutions.

We have conducted seminars on topics such as “Tax Planning – Individuals and Partnership, Overview of Corporate Taxation in Singapore”, “Estate Planning in Singapore”, “Staying in Control – Managing Your Business Through Accounting and Financial Information”, “Update on Singapore Accounting Standards”, “2002 Singapore Budget”, “Update on Changes of Corporate Governance in Singapore”, “Liberalisation of Trading and Distribution in China” and “Government Incentives and Schemes”.

We have also conducted lectures on certain subjects for the course leading to a Certified Financial Planner.  Prior to that, we have written several chapters for the self-study guide for the said course.

Person to contact:

Mr Cheong Mun Hong – munhong@mhcllp.com

Ms Cheong Kum Foong – kumfoong@mhcllp.com

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Corporate Secretarial Services

Singapore incorporated companies and branches of foreign companies registered in Singapore are required to comply with statutory requirements stipulated in the Companies Act. Cap.  50, the Companies Regulation 1987, the Business Registration Act,  Cap.  32 and other related legislations.  Our corporate secretarial associate, CMN Corporate Services Pte Ltd can assist companies with the necessary compliance.  They can maintain statutory records, prepare annual return for filing with ACRA, attend directors and shareholders meetings and prepare minutes and resolutions.  The following services are also available:

  • Company incorporation
    · Company information searches
    · Name searches
    · Share transfers
    · Provision of named corporate secretary
    · Use of registered address
    · Incorporation of offshore companies
    · Company strike-off

Person to contact:

Ms Katherine Kwek – cmnsvcs@mhcllp.com

Katherine is an associate member of The Faculty of Secretaries and Administrators Ltd, UK and has more than 30 years of working experience in the corporate secretarial services.

Accounting Services

We recognise the need of companies wishing to obtain professional services in the areas of accounting.  Our accounting services associate, CMN Management Services Pte Ltd has experienced staff to handle your accounting functions.  They can help to set up proper accounting and internal control system.  They can provide from simple bookkeeping services such as preparation of general ledgers and trial balance to more complex requirements such as Head Office reporting, preparation of cash flow and budget statements and consolidation of financial statements.

In view of the exemption from statutory audit for certain private limited company, they also provide compilation services for financial statements.  They will prepare the financial statements with the accompanying notes to the financial statements to comply with the requirements of the Companies Act.

Other services include assisting in the preparation of GST return, management accounting, payroll support functions and administration services.

Person to contact:

Mr Kenneth Goh – cmnmgt@mhcllp.com