AMTD News | AMTD Announced Strategic Acquisition of Nexia TS
AMTD teams up with Nexia TS to create a Pan-Asian Digital Professional Services Platform headquartered in Singapore and develop Singapore’s professional talents with a hiring plan of additional 100 local staff, especially mid-career Singaporeans, with at least 60% women in the next twelve months.
AMTD Group, a leading comprehensive financial service conglomerate in Asia, announced today that it will officially set up a new business arm - AMTD Services Group (“AMTD Services”), which represents a new add-on to the AMTD’s IDEA strategy (“AMTD IDEAs”), including AMTD International (HKIB:NYSE; HKB:SGX), AMTD Digital, AMTD Education and AMTD Assets. AMTD Services today announced its acquisition of a controlling stake in the non-assurance business of Nexia TS Group (‘Nexia TS’), a Singapore Top 10-ranked homegrown accounting and consulting firm, and an independent member firm of Nexia International network. Calvin Choi, Chairman and CEO of AMTD Group, will also become the non-executive Chairman of the overall Nexia TS Group.
This is AMTD’s fourth controlling stake acquisition in Singapore following the acquisitions of PolicyPal, Singapore’s leading InsurTech company and the first graduate from Monetary Authority of Singapore’s FinTech Sandbox; FOMO Pay, the one-stop QR code and digital payment solutions provider in Southeast Asia; and CapBridge, Singapore’s first regulated securities exchange for digital assets and private companies and Singapore’s leading integrated private market ecosystem platform.
After the acquisition, Nexia TS will be a core subsidiary member within the AMTD Group. It will become the pivotal platform under AMTD Services, AMTD’s digital professional services arm to serve Asian SMEs. This is part of AMTD’s endeavour to build a comprehensive digital solutions platform for Asian SMEs with capabilities in digital finance, digital community and ecosystem connect, supply chain solutions and digital professional services. Last month, AMTD signed a strategic collaboration agreement with GlobalLinker, a key participant in the Business-Sans-Borders initiative to jointly build a digital community and digital tool portal for Asian SMEs.
Nexia TS provides a wide range of services including tax compliance & advisory, IPO services, risk advisory, business valuation, M&A advisory and due diligence services, forensic advisory etc. In order to help Asian companies accelerate their digitalization and better serve SMEs, Nexia TS has various digital platforms which include cloud accounting, payroll and data analytics together with cybersecurity, data protection, blockchain advisory services and virtual collaboration tools in response to the growing market needs. On an overall basis, Nexia TS Group has served over 90 listed companies and assisted 38 IPO listings. Nexia TS embraces diversity and women leadership with over 40% of its directors being women.
Click here to replay the virtual agreement signing ceremony
Calvin Choi, Chairman and CEO of AMTD Group, commented, “High quality professional services with local know-how and in-depth insights, enriched by solid understanding into local dynamics and culture are key to the success and sustainability of SMEs. Nexia TS’s comprehensive range of solutions provide businesses with smart tools to improve internal processes and controls and increase productivity.
Women leadership and diversity are also part of AMTD’s strategy and core values. We welcome Nexia TS, Henry and his team to join the AMTD family to strengthen our digital offerings and provide a true one-stop user journey to SMEs. We strive to help accelerate the digitalisation of SMEs in Singapore and beyond, and serve their different needs across their lifecycles through a Pan Asian Digital Professional Services Group. Most importantly, through Nexia TS Group, we are committed to contributing to and developing Singapore into a professional services talent hub with a local hiring plan of over 100 local staff in the next 12 months with a particular focus into women talents to comprise at least 60% of the hiring.”
Henry Tan, Group CEO and co-founder of Nexia TS, added, “We are excited to be on this journey with AMTD to further develop our 3Ps growth strategy – Prepare, Position and Progress. This pandemic is a catalyst of digital acceleration for businesses to thrive in a crisis. With our expertise and knowledge in the professional services arena, I am confident that we can add value to the AMTD SpiderNet ecosystem and assist SMEs in their digitalization roadmap while embracing capabilities and network of the AMTD family. Given that AMTD has comprehensive investment banking capabilities in Singapore, Hong Kong, and the U.S. markets, the synergies are mutual and will be well-complemented with our IPO and M&A experience in the region”.
Patrick Tay, Assistant Secretary-Generals of the National Trades Union Congress, added, “I am glad to see AMTD teaming up with Nexia TS to create a Pan-Asian Digital Platform headquartered in Singapore to provide comprehensive professional and financial related services. In particular, I am elated to hear of the organisation’s focus and efforts to develop Singaporean talents and its commitment to hire an additional 100 local PME staff, especially mid-career Singaporeans, with a particular focus on hiring female talents, in the next twelve months.”
AMTD Group is a leading comprehensive financial services conglomerate, with core businesses in investment banking, asset management, digital financial solutions; and non- financial services areas including education and real estate investment.
AMTD International (NYSE: HKIB; SGX: HKB), a subsidiary of AMTD Group, is the largest independent investment bank in Asia and one of Asia’s largest independent asset management companies, and has been a leading investor in FinTech and new economy sectors. AMTD International was successfully listed on the New York Stock Exchange in 2019, representing the first Hong Kong headquartered financial institution listed on NYSE. On April 8, 2020, AMTD International completed its successful listing on SGX- ST, which marks a series of historical milestones, including:
- The first company ever to be dual listed on NYSE and SGX;
- The first company featuring dual-class shares (DCS) listed on SGX; and
- The first company to conduct a digital listing ceremony in Singapore.
AMTD Digital, the digital solutions arm of AMTD Group, is headquartered in Singapore engaging in digital financial services, digital marketing and data intelligence, digital connectors and ecosystem building, and digital investments. AMTD Digital aims to build a one-stop, comprehensive, cross-market, and innovative digital solutions platform.
Nexia TS provides a wide range of services including tax compliance & advisory, IPO services, risk advisory, business valuation, M&A advisory and due diligence services, forensic advisory etc. In order to help Asian companies accelerate their digitalization and better serve SMEs, Nexia TS has various digital platforms which include cloud accounting, payroll and data analytics together with cybersecurity, data protection, blockchain advisory services and virtual collaboration tools in response to the growing market needs. On an overall basis, Nexia TS Group has served over 90 listed companies and assisted 38 IPO listings. Nexia TS embraces diversity and women leadership with over 40% of its directors being women.
