Hong Kong-based financial firm AMTD Group continues its buying spree in Singapore with the latest acquisition of a controlling stake in accounting and consulting firm Nexia TS.
AMTD Group has acquired a controlling stake in Nexia TS’s non-assurance business, according to a statement which did not disclose the sum paid, and named AMTD Group chairman and chief executive Calvin Choi as the non-executive chairman of Nexia TS Group.
Founded in 1993, Nexia TS provides various services including tax emplane and advisory, risk advisory, business valuation, M&A advisory and due diligence. It also has digital platforms such as cloud accounting, payroll and data analytics, as well as cybersecurity and blockchain advisory services.
Post-acquisition, Nexia TS will be made a platform within the AMTD Services business segment to serve small and medium-sized enterprises in Asia.
Hiring Plans
Over the next 12 months within Singapore, Nexia TS will add an additional 100 local workers – especially mid-career Singaporeans – with the aim of having women fill at least 60 percent of the hires.
«Nexia TS embraces diversity and women leadership," the two companies said in a statement.
Nexia TS marks AMTD’s fourth acquisition of a controlling stake in Singapore which also included insurtech startup PolicyPal, digital payments firm FOMO Pay and private capital platform CapBridge.
