CC International Berhad (CCIB), also known as the Cheng & Co Group, has announced the acquisition of three strategic assets for approximately RM4.32m. The acquisitions include Insan Management Sdn Bhd, Computer Accounting Associates Sdn Bhd (CAA), and a tax clientele portfolio from Lew Pow Onn & Co, as part of CCIB’s strategy to expand its professional services footprint.
The acquisitions were finalised at a signing ceremony at Cheng & Co Group’s corporate tower, Faber Tower 2, in Kuala Lumpur. Insan Management, a company secretarial services provider, was acquired for RM1.10m, whilst CAA, an accounting services provider, was purchased for RM1.64m. Additionally, the tax clientele of Lew Pow Onn & Co was acquired for RM1.58m, enhancing CCIB’s tax services portfolio.
Lam Kwai Soon, Group Managing Director of CCIB, stated, “Mergers and acquisitions have been an important component of CCIB’s growth strategy. Where there is a strong strategic fit, acquiring an established business or client portfolio allows us to accelerate the expansion of our clientele base and build scale more efficiently.”
The acquisitions are expected to bolster CCIB’s existing business segments, including accounting, tax, and corporate secretarial services. The Group plans to continue evaluating opportunities that align with its business model and contribute to long-term growth.
In a related transaction, Abacus Malaysia PLT agreed to acquire the audit practice of Lew Pow Onn & Co for RM2.34m, further consolidating the professional services landscape in Malaysia.
