Corporate service providers

Warburg Pincus invests in corporate services firm Acclime, valuing it at US$1 billion

The private equity firm beat rivals Carlyle Group, Blackstone, KKR and TPG in a bidding race

Founding management and group chief executive officer (CEO) Lennard Yong set up Ascentium in Singapore by leveraging support from his sponsors. He was drawn by the city's pro-business environment and strategic position amidst a shift of multinational headquarters to Asia.
BRANDED CONTENT

Local insights, targeted support: How this firm can help businesses scale in Asia thanks to co-founder’s mission

Founded in 2024 in Singapore by chartered accountant Lennard Yong, Ascentium, which has grown to $200 million in revenue, supports Fortune 500 companies in their regional expansion

Ensuring continuity and support during critical periods, InCorp Singapore helps businesses navigate the complexities of shareholder meetings and regulatory requirements.
BRANDED CONTENT

Navigating evolving regulatory requirements: Why businesses need corporate secretaries as strategic advisors

InCorp Singapore provides corporate secretarial professionals who not only ensure compliance but also deliver critical business advisory support

From left: Justin Lim, partner and Singapore head of outsourcing at Forvis Mazars and  One Tax CM’s managing director Lancaster Lee. Forvis Mazars and One Tax CM offer corporate secretarial services.

Nominee directors may seek higher fees under new laws, pinching corporate service providers’ margins

‘Fit and proper’ candidates might charge higher rates and providers are likely to pass down costs to clients

There are currently 2,900 corporate service providers registered with the Accounting and Corporate Regulatory Authority.

New laws ‘level playing field’ for corporate service providers, but could lead to industry consolidation

Bar will be raised as a robust system of screening checks and compliance will be required; smaller players may be priced out, say industry observers

The introduction of steep penalties for non-compliance poses significant implications for business competitiveness, particularly for smaller firms concerned that compliance costs and financial risks may impact the viability of operations.
THE BOTTOM LINE

Regulatory changes a catalyst for corporate service providers to raise their game

AS SINGAPORE prepares to roll out the proposed Corporate Service Providers (CSP) Bill, it presents an opportunity to reflect on how the city-state can continue to attract new businesses while maintain...