KUALA LUMPUR (May 6): Tax specialist Dr Veerinderjeet Singh has been appointed the non-executive chairman of Tricor Services (Malaysia) Sdn Bhd, the local outfit of Asia's professional services firm Tricor Group.

Veerinderjeet's appointment follows Tricor Group’s recent acquisition of the Malaysian operations of Axcelasia Inc, which is a Singapore Exchange-listed company, it said in a statement today.

Axcelasia is an integrated professional services firm delivering governance, risk and compliance (GRC) solutions, as well as corporate, business and tax services.

The group said Veerinderjeet will act as an adviser in areas of complex tax advisory, support business development, mentor executives and serve as an ambassador for the Tricor name and brand.

"For Tricor, this transaction represents the launch of a new regional GRC business focused on helping clients manage their increasingly complex regulatory and compliance responsibilities while operating in the emerging and maturing economies of the Asia-Pacific region.

"This investment by Tricor is the first step towards building an integrated suite of GRC solutions that deliver enhanced value by providing deep advisory expertise with client-centric technology," it said.

Commenting on his appointment, Veerinderjeet said businesses are demanding integrated services of the highest standard now more than ever to improve business resiliency and thrive against the uncertainty created by the Covid-19 pandemic.

"I am excited to team up with Tricor because this partnership allows us to bring our services – especially our signature GRC solutions – to a wider client base and also offers our clients in Malaysia and Asean access to Tricor’s vast suite of services.

"The natural synergies of our services and staff will help make this evolution seamless – and together our teams will help more companies steer their business expansion ventures in Asia-Pacific and beyond," he said.

Tricor Group has also appointed Ranjit Singh as the regional managing director of Tricor Axcelasia, a new strategic business advisory entity of Tricor.

Both Veerinderjeet and Ranjit sit on Axcelasia's board as the non-executive chairman and chief executive officer respectively.