BDO Malaysia absorbs former rivals
BDO Malaysia has poached staff formerly working for Grant Thornton's Cambodian arm and UHY Penang
BDO MALAYSIA has pounced on members of rival firm networks Grant Thornton and UHY Penang, after the former dissolved a joint venture with Arthur Law & Associates.
The move takes BDO to fourth place in Malaysia in terms of market capitalisation and number of public companies audited, The Star reports. The new firm will number almost 600 staff, including more than 40 partners and directors.
Managing partner and regional senior partner for Asia Pacific Region A Datuk Gan Ah Tee said: “With our expanded presence and capabilities, we are in a better position to serve our clients wherever they are, in line with BDO’s client proximity proposition.”
Last month, Grant Thornton revealed is joint venture in Cambodia has been dissolved and its member firm in Vietnam is setting up a new offering in Cambodia, to be headquartered in Phnom Penh.
Future expansion in the area looks likely, as a spokeswoman said: “Clearly it’s a region that deserves investment and attention – we will undoubtedly be doing more rather than less there in future.”