Deloitte Southeast Asia Tax Challenge 2016
Singapore Management University undergraduate wins at the inaugural Deloitte SEA Tax Challenge 2016
Singapore, 29 February 2016 — After months of intense national-level competitions in Singapore, Indonesia, Malaysia, and Thailand, the conclusion of the inaugural Deloitte Southeast Asia Tax Challenge (SEA DTC) 2016 was a jubilant affair.
Representing Singapore was Team Exceptional One - a team of four from the Singapore Management University (SMU). The team qualified for the Deloitte SEA DTC after winning the Singapore Tax Challenge 2015 organised by SMU and supported by Deloitte Singapore which saw 158 student participants from four universities and four Polytechnics. SMU’s Exceptional One team member Mr Phua Kuan Hua emerged the winner in the individual category, walking away with a cash prize of RM5,000. Mr Phua also received the Best Writer Award sponsored by Wolters Kluwer CCH.
The team category was won by Team Taxwiz from TAR University College (TARUC) Malaysia and received a cash prize of RM8,000, while Team Exceptional One from Singapore was awarded the merit award together with team 1Donesia from University of Indonesia.
Held at Deloitte Malaysia's office in Kuala Lumpur on Friday, 26 February 2016, the winners of the Deloitte SEA Tax Challenge 2016 were announced after the judges’ deliberations on the same day.
“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, Tax Leader for Deloitte Singapore and Southeast Asia. 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.
Overall, a total of RM21,500 in prize money and awards were presented to the winners in both the team and individual categories, which included merit awards, Best Presenter Award and Best Writer Award from sponsors ACCA Malaysia and Wolters Kluwer CCH.
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 home 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. Jenjira Yossomsakdi from Chulalongkorn University, Thailand, and Samuel Edwardo Situmorang, from Gajah Mada University, Indonesia won the Merit Awards for individuals.
“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 enhancing their appreciation of the culture of various ASEAN countries,” added Yee.
ACCA Malaysia, Wolters Kluwer CCH and BFM89.9 are proud sponsors of the inaugural Deloitte SEA Tax Challenge 2016.
Singapore Management University’s Mr Phua Kuan Hua (foreground, right) receiving his prize from Low Hwee Chua, Tax Leader for Deloitte Singapore and Southeast Asia (foreground, left). Mr Phua is the individual category winner of the inaugural Deloitte SEA Tax Challenge. He also received the Best Writer Award.
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About Deloitte Southeast Asia Tax Challenge
2016 is the inaugural year of the Deloitte Southeast Asia Tax Challenge.
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 47 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 has been partnering with the Singapore Management University (SMU) to do the same. A total of 387 participants from the three countries took part.