TAR University College students from Malaysia emerged champion of inaugural Deloitte SEA Tax Challenge 2016!

26 February 2016 – After months of intense national-level competitions in Malaysia, Indonesia, Singapore, and Thailand, the conclusion of the inaugural Deloitte South East Asia Tax Challenge (SEA DTC) 2016 was a jubilant affair.

Team Taxwiz from TAR University College (TARUC) Malaysia emerged the champion in the team category, winning a cash prize of RM8,000 while individual category winner, Phua Kuan Hua, from Singapore Management University (SMU) won the cash prize amounting RM5,000. Overall, a total of RM21,500 in prize money and awards were presented to the winners in both categories, which included merit awards, Best Presenter Award and Best Writer Award from sponsors ACCA Malaysia and Wolters Kluwer CCH.

Held at the Deloitte office in Kuala Lumpur today, the winners of the inaugural Deloitte SEA Tax Challenge 2016 were announced after the judges’ deliberations on the same day. Present to officiate the event and award the prizes was Deloitte Malaysia Country Managing Partner, Tan Theng Hooi, who commended the finalists’ efforts, which he said were impressive and showed high standards of delivery and research.

Team The Fifth Avenue from Thammasat University, Thailand was runner-up for the team category, taking hom RM4,000. Meanwhile Mah Wen Jian from Tunku Abdul Rahman University (UTAR), Malaysia, was runner-up in the Individual category, winning RM2,500. Best Presenter Award sponsored by ACCA Malaysia went to Oranas Termsedcharoen from Thammasat University, Thailand, while Best Writer Award sponsored by Wolters Kluwer CCH was won by Singapore’s Phua Kuan Hua. Merit Awards in the Team category went to the team Exceptional One from Singapore Management University and team 1Donesia from University of Indonesia. Jenjira Yossomsakdi from Chulalongkorn University, Thailand, and Samuel Edwardo Situmorang, from Gajah Mada University, Indonesia won the Merit Awards for individuals.

Prior to battling it out, the contestants underwent a series of vigorous presentation skill trainings facilitated by seasoned presenters from ACCA, BFM89.9 and Deloitte yesterday.

“Deloitte Malaysia is extremely proud to have hosted the inaugural SEA Tax Challenge 2016 which aims at cultivating and enriching the next generation of tax professionals in the region,” said Yee Wing Peng, Deloitte Malaysia’s country tax leader. “Having the competition brought into the regional arena will provide the contestants an even higher international benchmark with more regional exposure.”

“This will enable them to better embrace the challenges and opportunities brought by the ASEAN Economic Community (AEC) when they join the workforce of a knowledge-based economy, in addition to facilitating a better appreciation of the culture of various ASEAN countries,” added Yee.

The Deloitte Tax Challenge was previously held annually at national level in Malaysia for eight years. In 2015, it attracted a record number of 2,667 participants from 41 universities across Malaysia – a testimony of how established the prestigious pioneering tax-based competition had become. This is the first year Deloitte member firms in Indonesia and Thailand held such a national level tax-based competition, while Singapore partnered with the Singapore Management University (SMU) to do the same. A total of 387 participants from the three countries took part.

“With youth unemployment a growing concern in this slowing global economy, competitions like the Deloitte Tax Challenge is crucial in helping graduates get a headstart in their careers,” said Low Hwee Chua, Deloitte SEA Tax Leader. He further added that the Deloitte SEA Tax Challenge presents a great opportunity for the tax practices of Deloitte Southeast Asia to further develop and nurture talents. The competition also helps elevate the appreciation of the tax profession among current students while promoting Deloitte as an employer of choice.

“Teamwork was the key to our win,” said Thiban Raj Arumugam from team TaxWiz, TAR University, the reigning SEA Deloitte Tax Challenge team champion. His team mates Angelina Tai Fern Jian, Cheang Weizheng and Rupini Kangasothy agreed, saying that they all worked together very well, supporting and giving each other equal amounts of talk time.

Individual category and Best Writer winner Phua Khuan Hua from Singapore Management University was simply enthralled to represent his country and was overjoyed to have won two awards. Oranas Termsedcharoen from Thammasarat University, Thailand was equally ecstatic to have clinched the Best Presenter Award, saying it was overwhelming since the national rounds and the experience to compete at SEA level was what she treasured most.
ACCA Malaysia, Wolters Kluwer CCH and BFM89.9 are proud sponsors of the inaugural Deloitte SEA Tax Challenge 2016.

For more information on Deloitte Malaysia, please visit www.deloitte.com/my/.