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PricewaterhouseCoopers ("PwC") announces the combination of the PwC International Assignment Services ("IAS") practices in China, Hong Kong, Malaysia, Singapore, Taiwan, Thailand and Vietnam into a new regional business with effect from 1 July 2007. The combined business will provide:
- Personal and expatriate tax compliance and consulting services;
- Pension and social security compliance and consulting services;
- International mobility services;
- Employment regulatory compliance and consulting services;
- Immigration services; and
- Employee reward advice and planning.
The new business remains wholly owned by the PwC firms and will be a member of the PwC global network.
"Foreign direct investment into this region has grown exponentially in recent years, and this has been accompanied by an increasing number of expatriates to manage the local operations. The foreign investors are most concerned with managing costs and ensuring that they are compliant with tax and other regulations in relation to having the expatriates on the ground in the region," said Rod Houng-Lee, Regional Tax Leader of PwC and the Senior Partner of the new regional IAS business.
"This strategic combination puts PwC in the best possible position to leverage our resources and knowledge to deliver the consistent excellent level and range of services that our clients require. Clients will have greater access to international assignments expertise across the region," Mr Houng-Lee added.
"It also means better and more opportunities for our people. Our professionals will be able to develop broader capabilities and skills" said Mandy Kwok, Managing Partner of the new IAS business.
The combined regional practice will have 15 partners/directors and a staff strength of 350 professionals.
"Our vision is to be the leading professional services organisation in any territory that we operate in as well as becoming a distinctive IAS practice in the region by building on the success of our local practices. As we pass this major milestone today, we are confident that our combined practice will grow from strength to strength," Ms Kwok concluded. |
