NGL Tricor Governance acquisition to expand Tricor Malaysia's business advisory division

KUALA LUMPUR, Nov 4 -- Tricor Axcelasia Sdn Bhd has agreed to acquire the remaining 60 per cent of NGL Tricor Governance Sdn Bhd to expand Tricor Malaysia’s strategic business advisory division.

Tricor Malaysia Chief Executive Officer and Managing Director, Yeap Kok Leong said: “With NGL Tricor Governance as a wholly-owned subsidiary, Tricor Axcelasia will now be the largest provider of outsourced internal audit services to public-listed companies in Malaysia.

“This important investment will greatly benefit Tricor’s 6,000 clients in Malaysia, as it would allow us to bring our services to a broader client base and expand our offerings in both Malaysia and across Asia-Pacific.”

Tricor Axcelasia Regional Managing Director, Ranjit Singh hailed the acquisition for strengthening the firm’s dominant position resulting in an increased market share of 25 per cent of the outsourced internal audit market for listed companies in Malaysia.

“Business partners will now further benefit from cost-effective and immediate solutions for all their governance, risk management and internal control needs,” said NGL Tricor Governance Managing Director, Chang Ming Chew.

NGL Tricor Governance, an existing associate company under Tricor, currently serves over 40 clients listed on Bursa Malaysia and the Singapore Stock Exchange, providing internal audit support and risk management services.

Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, corporate trust & debt services, and strategic business advisory.

-- BERNAMA