Deloitte Southeast Asia officially opens its newest practice in Cambodia
Singapore, 12 June 2015 — Deloitte Southeast Asia expands its regional footprint by officially opening its Cambodia practice today. Joining 10 other local practices – Brunei, Guam, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam – Deloitte Cambodia aims to draw on the regional and global expertise within the Deloitte network to deliver high quality services to companies operating in or out of the country.
Incorporated on 31 January 2014 under Deloitte (Cambodia) Co., Ltd., the practice’s new office is located at the Vattanac Tower in the central business district of Phnom Penh, with current staff strength able to provide a broad range of audit, tax and advisory services. The number of employees is projected to grow steadily as the demand for professional services increases in Cambodia.
“Cambodia, together with Myanmar and Lao PDR, represents new ground for Deloitte Southeast Asia,” says Chaly Mah, Chief Executive Officer, Deloitte Southeast Asia. “There are new business opportunities for our clients in emerging markets like Cambodia, and many of our clients are demanding for more world class professional services on the ground as they increase their investment in this country.”
Deloitte Southeast Asia, of which Deloitte Cambodia is a part, sets itself apart by being able to deliver seamless services for clients operating across the region as one firm. Deloitte Southeast Asia’s team of over 270 partners and 7,000 professionals, backed by global resources, are able to offer a multidisciplinary suite of professional services that go hand-in-hand with deep regional industry insights.
Deloitte is currently the largest professional services organisation in the world with aggregate revenue of US$34.2 billion and a headcount of over 210,000 professionals.
Deloitte Cambodia can tap into this full spectrum of global and regional insights, and at the same time, provide in-depth local market knowledge which is crucial when navigating the local business, tax and regulatory environment.
“There is a need for local representation for clients entering the Cambodia market,” says Kimleng Khoy, Country director, Deloitte Cambodia. “Our professionals in Cambodia know the culture and local business procedures well, and can help accelerate the processes for companies to set up and operate successfully in Cambodia. The practice also plans to serve Cambodian businesses that are looking outwards into other parts of the region.”
At this Grand Opening, H.E Ngy Tayi, Secretary of State of Ministry of Economy and Finance, and Chairman of the National Accounting Council urged all relevant parties/stakeholders - accounting firms, professional bodies, and business entities to raise productivity and professional standards, seize growth opportunities in a dynamic region, and invest in talent and expertise. He is also confident that Deloitte Cambodia will play a key role in uplifting and transforming accountancy sector to another level of advanced stage.
“The expansion into Cambodia is in line with Deloitte Southeast Asia’s strategy to grow inorganically through scale change and geographic expansions. In addition, as we move closer to the start of the ASEAN Economic Community at the end of 2015, we will continue to expand our presence and capabilities in the region so that we are well positioned to serve our clients,” says Mr Mah.
To find out more about Deloitte Cambodia, please click here.
A ribbon cutting ceremony held on 12 June 2015 to officially open the Deloitte Cambodia practice. From L-R: Chaly Mah, Chief Executive Officer, Deloitte Southeast Asia and Kimleng Khoy, Country Director, Deloitte Cambodia
Note: Please contact Carie-Anne Bak for high resolution photo.