EY leverages the Singapore connection

With 117 years of experience and a 1,700-strong workforce, Ernst & Young Singapore (EY) is one of the country's premier professional service organizations.

Country Managing Partner Ong Yew Huat observed a significant trend in the country; the sharp increase in the number of Chinese initial public offerings (IPOs) listed on the Singapore Exchange in 2006.

Chinese firms set up headquarters and representative offices in Singapore because of the ease of language, culture and the stable business environment.

"Singapore provides a great location for foreign companies with operations in China," Ong said.

A growing number of international companies that operate in China have also found it beneficial to manage their Asian operations from Singapore.

Ernst & Young helped these companies set up their operations in China and their Asian headquarters in Singapore, enabling these companies to navigate through the unfamiliar Chinese regulations on accountancy, taxation, and transactions.

EY conducted due diligence services to assist Singaporean groups interested in acquiring businesses in China, an activity that grew 100 percent from 2005 to 2006. Due diligence services cover critical knowledge of a potential investment and outline the advantages and pitfalls.

EY also plays a critical role in advising the growing number of Chinese corporations wanting to venture overseas. EY is preparing to meet this growing demand by expanding its operations regionally.

For more information, please visit:www.ey.com/sg

(China Daily 03/12/2007 page1)