2021 SEA Impact Report
In a challenging year, we adapted quickly to serve clients’ needs. Our resilience and ability to leverage our skills, innovation and connections helped us continue to strengthen client relationships, secure significant new wins and help enterprises across SEA succeed. Read on to find out more.
Deloitte Singapore launches SheXO initiative to advance women in leadership
Deloitte’s SheXO Program underlines the firm’s commitment to supporting the personal and professional development of established, emerging and aspiring women leaders – within Deloitte and our client organisations.
Through forums, masterclasses and other approaches, the Program aims to create a supportive environment where female leaders can connect and feel inspired to drive meaningful change in the communities in which they work.
In January 2021, Deloitte SEA launched a local chapter of SheXO with a one-day forum on entrepreneurial leadership, held in Singapore.
Over 80 senior business leaders from a range of industries attended. Many participated remotely, in accordance with social distancing measure. Speakers explored the importance of building entrepreneurial leadership today, and the differing views and expectations people have about women leaders.
Panelists included Cindy Hook, CEO, Deloitte Asia Pacific, and Sun Xueling, Minister of State for the Ministry of Education and the Ministry of Social and Family Development in Singapore. Both shared valuable insights into the challenges female business leaders face in the workplace, and successful approaches for overcoming them.
Deloitte SEA works with leading beverage and food company to create innovative HR engagement platform
The Deloitte SEA Consulting practice clinched a deal to help a leading beverage and food company transform its global HR function.
Deloitte’s winning solution involves reimagining the company’s HR operating model from the ground up and implementing an innovative new service delivery model based on a unified platform. The platform will make it simpler and easier for all employees to engage with the HR function.
The client was impressed by the collaborative approach to success that our proposal highlighted. That approach was reflected in the code-name we gave our project. We called it ‘Kizuna’, which roughly translates from Japanese as “two halves becoming stronger through partnership”. It also reflected the way we worked on our winning bid, where colleagues from multiple offices around the globe came together to develop the proposal and pursue the opportunity.
Military Commercial Joint Stock Bank selects Vietnam Risk Advisory in major win
Leading Vietnam bank Military Commercial Joint Stock Bank (MB) selected Deloitte’s Risk Advisory practice in Vietnam to help improve its business process operations through digital technology.
Deloitte is providing methodology consulting and support to MB on a financial crime risk management project. In partnership with Oracle and FPT Information Systems, we are helping MB design and deliver new fraud risk management and anti–money laundering systems.
Coming after a highly competitive bidding process that lasted almost 12 months, this is a significant win that highlights Deloitte’s expertise in technology and system implementation for financial crime and fraud projects. Our selection also reinforces our reputation as an industry leader in Risk Advisory services.
Philippines Consulting helps leading integrated telco with cost optimisation
Deloitte Philippines’ Consulting team recently successfully completed a major engagement with one of ASEAN’s largest integrated telcos. This was a first-of-its-kind win for Deloitte in this space, both globally and in SEA.
Our client’s management team chose Deloitte to help it conduct an enterprise-wide cost optimisation exercise, resulting in tangible recommendations and actions for reducing costs.
As a direct result of our efforts, our client has been able to launch 35 operational cost initiatives to optimise its cost structure. These will culminate in highly significant annual savings across the region.
More broadly, this engagement deepens Deloitte’s credibility and eminence as a business partner that can help major telcos across the region reduce costs and improve business performance.
Deloitte wins Bank Danamon contract
Deloitte Indonesia has clinched the contract to audit leading financial institution Bank Danamon Indonesia. Listed on the Jakarta Stock Exchange, the bank is majority-owned by Mitsubishi UFJ Financial Group (MUFG). We were selected for the work following a rigorous year-long process. The outstanding quality of our work with MUFG enhanced our prominence and credibility with the client and was a significant factor in its decision to award us the project.
Bank Danamon was also confident about our ability to bring increased efficiency and assurance to the audit process, drawing on our global leadership in using audit technology and cutting-edge data analytics tools to deliver a smart audit. Aside from the competency of our client service team, which combined Indonesian, Singapore and Japanese team members, Bank Danamon appreciated our ‘as one’ approach and strong communication skills.
The win affirms Deloitte’s status as a trusted business partner for financial institutions in Indonesia and the region.
“I’ve attended many fruitless ‘workshops’ in my time, but the Deloitte SEA Greenhouse Experience lab was a cut above the rest in both design and delivery.”
Ashish Jain, Head of Group Applications for AIA
“Deloitte’s performance in the 2020 and 2021 Asia Pacific Tax Awards is a testament to our impact in the region. With our dedicated support for clients, Deloitte will continue to help businesses confidently navigate the digitalisation of their tax systems and processes.”
Low Hwee Chua, Regional Managing Partner for Tax and Legal, Deloitte SEA and Singapore
SEA Greenhouse Experience exceeds AIA’s expectations
The Deloitte Greenhouse Experience is Deloitte’s problemsolving and innovation accelerator. We help clients accelerate their strategic growth or innovation initiatives by designing and delivering labs. Each Greenhouse lab experience is a customised workshop session that combines technology, immersive tools and expert facilitation to encourage clients to ideate, develop strategies and solve complex business challenges.
Part of a global network of over 40 Greenhouses, Deloitte’s SEA Greenhouse is located in Singapore. Recently, we worked with colleagues from the Deloitte Advisory Hong Kong Technology Strategy & Transformation team on a successful engagement with leading pan-Asian life insurance corporation AIA.
AIA’s lab experience took place virtually over two half-days during February and March 2021. Thirteen senior-level participants from AIA Group Applications dialled in to the event from Hong Kong and Malaysia.
With our colleagues’ assistance, the Group Applications team developed a collective vision and value proposition for their business. They also created a set of priorities that could help bring that vision to life. This involved brainstorming ideas, creating action plans and identifying owners.
Deloitte recognised at the International Tax Review’s Asia Pacific Tax Awards
The International Tax Review (ITR) has once again recognised several Deloitte tax practices for excellence, demonstrating our focus on high-value, digitally driven and globally integrated services that make an impact that matters. Deloitte won five awards across SEA, including our Malaysian practice being crowned National Tax Firm of the Year for the third consecutive year. In addition, our Indonesia, Vietnam, and Philippines practices scooped awards for National Tax Firm of the year and National Transfer Pricing Firm of the year. Across SEA, Deloitte won more national awards than other Big Four firms in both 2020 and 2021. The other three firms won a combined total of four National awards.
ITR’s tier rankings are based on the editorial team’s research into individual markets and client feedback. The research provides a broad picture of the market for tax advice to businesses in several jurisdictions around the world.