Business Insights Archives

How Smarter HR & Payroll Drive Business Growth

September 29, 2025September 30, 2025 khushbuthakkar

HR is no longer just the department that processes payslips and tracks annual leave. Today, it is a strategic driver of business growth helping leaders make better decisions, improving employee experience and ensuring compliance across borders.

Yet in Singapore and across Southeast Asia, many companies still depend on manual processes, disconnected HR and payroll systems, or a mix of local vendors. This slows down operations, creates compliance risks, and distracts HR from its real purpose: enabling the business to grow.

As Nie Ying, Regional Operations Director at BoardRoom Group, explains, “With outdated or disconnected systems, companies face limits in managing employee data digitally. Legacy platforms often operate as standalone databases that don’t talk to each other, making scaling and integration difficult.”

This is where BoardRoom steps in offering payroll solutions that combine expert outsourcing with smart technology like the IGNITE payroll system.

The HR + Payroll Challenge in Southeast Asia

Expanding across Southeast Asia is not just about finding customers, it is about managing a complex web of local compliance rules.

In Singapore, HR leaders must handle CPF contributions, annual IRAS submissions, and frequent regulatory updates. In Malaysia, there’s EPF, SOCSO, and income tax while in Hong Kong, there are MPF and Inland Revenue requirements.

Companies running separate HR and payroll systems often face:

Manual data re-entry, which increases error risk
Delays in payroll processing due to poor system integration
Difficulty consolidating reports for decision-making
Compliance gaps when operating across multiple jurisdictions

Nie Ying explains the root of these challenges, “When a company grows quickly or expands across regions, it faces difficulties managing employee data digitally. Legacy or disconnected systems often operate as standalone databases that don’t talk to each other, making scaling and integration difficult.”

She adds, “Older systems usually only cover basic modules like personnel, payroll and leave. Modern, cloud-based solutions provide integrated functions such as attendance, appraisal, claims and can support multiple companies and countries within the same platform.”

By addressing these limitations with an integrated payroll and HR system, businesses can reduce errors, improve compliance, and free HR to focus on strategic growth rather than firefighting operational issues.

Why Integrated Payroll & HR Systems Matter

An integrated HR payroll software environment is no longer a luxury, it is a necessity. Many legacy HRMS platforms do not sync well with payroll, leading to duplicate work, inconsistent records and delayed reporting. This slows down compliance checks and makes workforce planning harder.

By contrast, online payroll software with full HRMS integration can:

Automate statutory calculations and reporting
Provide real-time dashboards for management
Reduce data entry errors and payroll disputes
Give employees self-service access to payslips, leave balances, and claims

BoardRoom’s IGNITE payroll management system integrates HR and payroll functions into one secure platform. With five core modules such as Payroll, Employee Hub, Leave, Attendance, and Claims, it supports true multi-country payroll processing, ensuring full statutory compliance across 10 countries and regions in Asia: Singapore, Malaysia, Hong Kong, Macau, Taiwan, China, Indonesia, Vietnam, the Philippines, and Thailand. This helps businesses navigate the constantly evolving payroll compliance regulations in each market.

“Modern, cloud-based systems allow employees to check their payslips, submit claims and manage leave anytime. They also support multi-company and multi-country operations on a single platform. This reduces emails to HR and frees up the team to focus on more strategic work,” Nie Ying says.

How BoardRoom’s IGNITE Helps Companies Scale with Smarter HR

For companies in Singapore, BoardRoom offers two options:

Full outsourcing — where BoardRoom’s payroll experts manage everything end-to-end
Software-as-a-Service — using IGNITE as a cloud-based payroll software Singapore businesses can access it anywhere

Many fast-growing firms prefer outsourcing to a trusted payroll software provider.

As Nie Ying explains, “If clients just adopt the SaaS model, they need extra manpower to run payroll and manage the system. If they outsource to BoardRoom, we handle the processing, ensure compliance is in place, and guide clients through the system efficiently.”

Outsourcing also reduces the risk of disruption caused by staff turnover or leave.

“When HR staff are on leave, on long-term leave, or have left the company, clients don’t need to worry. Payroll continues smoothly without interruptions,” says Nie Ying.

When companies scale, the system itself must be able to grow with them.

Nie Ying highlights that “The system needs to scale horizontally and vertically, supporting multiple entities in the same database and even multi-country payroll. This allows companies to expand without constantly hiring extra staff to manage the complexity.”

Advice for HR Leaders Planning to Scale

Nie Ying shares guidance for HR leaders preparing for growth, “First, your agenda must be very clear and you must know your future growth plan. Second, find a system that can scale both horizontally and vertically. It should support multiple entities in the same database and, if expanding regionally, multi-country payroll. Finally, ensure the system has reasonable pricing and can grow with you as your headcount and operational complexity increase.”

Case Example: Scaling Across APAC

Nie Ying shares a Singapore-based success story, “After a few years, one client quickly expanded to India, Vietnam, and Indonesia. Over time, we supported them from 1 entity to 7 entities across the region. As their headcount grew, so did the services we provided, helping them scale efficiently while staying compliant.”

With BoardRoom’s IGNITE payroll management system, HR teams can:

Access integrated payroll and HR modules including Payroll, Employee Hub, Leave, Attendance & Claims
Enable true multi-country payroll processing across 10+ APAC countries
Ensure automated statutory compliance with local legislation
Focus on strategic initiatives such as talent development, employee engagement, and culture rather than administrative firefighting

This combination of smart online payroll software, integrated HRMS, and expert payroll services ensures that Singapore businesses can scale efficiently, reduce operational risk, and maintain consistent compliance across multiple markets.

The Strategic Value of Payroll Data

Beyond compliance and efficiency, integrated payroll systems generate valuable business intelligence. By analysing payroll data, companies can:

Identify overtime trends and workforce cost spikes
Plan headcount based on accurate cost forecasting
Track the ROI of hiring decisions across regions

“HR is no longer just about administrative tasks,” Nie Ying explains. “Over time, it has evolved into a strategic partner that provides insights to help the business make informed decisions. Payroll data is a key part of that, it helps leaders understand workforce trends, costs and opportunities for growth.”

With accurate, real-time payroll data, companies can make strategic decisions faster, reduce unnecessary costs, and allocate resources more effectively. By integrating HR and payroll, platforms like BoardRoom’s IGNITE enable HR teams to move from administrative management to a more strategic, insight-driven role.

Conclusion: From Process to Growth Partner

In Singapore’s competitive business environment, HR leaders cannot afford to be bogged down by manual payroll tasks or outdated systems. The right payroll system Singapore businesses adopt should be more than a payslip generator, it should be a growth enabler.

With BoardRoom’s payroll outsourcing services and the IGNITE platform, HR teams can shift their focus from administrative firefighting to strategic impact. Smarter HR and payroll systems give you the freedom to grow confidently knowing that compliance, accuracy, and efficiency are always covered

As Nie Ying summarises the value in practice, “BoardRoom grew alongside the client, expanding services as their headcount and operations increased across the region.”

Want to know more? Contact us to know how BoardRoom’s payroll services can help your business scale smarter.

Contact BoardRoom for more information:

Nie Ying

Director, Regional Payroll Services

E: [email protected]

T: +65 6536 5355

How Company Tax Filing and Pre-Planning Can Be a Strategic Advantage

September 25, 2025September 25, 2025 boardroomsuperadmin

For many finance leaders in Singapore, company tax filing is still often treated as a once-a-year compliance exercise after the accounts are closed. It is frequently approached with a “tick-the-box” mindset – gather the financial numbers, submit the tax forms and move on. Typically, this tax filing process is often executed under tight timelines, and with limited integration into the forward-looking financial strategies and broader business planning.

But this mindset is increasingly outdated and in today’s dynamic regulatory and business environment, potentially risky.

In a fast-evolving environment with increasing cross-border scrutiny and digital reporting requirements, waiting until the last minute creates unnecessary risk. Companies miss opportunities to optimise their tax position, improve cash flow management, and leverage available incentives.

“Traditionally, many companies gather financial data only at year-end and then move straight into tax filing,” explains Eunice Hooi, Managing Director, Asia, Accounting and Tax at BoardRoom Group. “It’s a reactive approach – a box-ticking exercise that prioritises meeting deadlines over strategic value. In today’s fast-evolving business environment, waiting until the last minute isn’t sustainable. The regulatory landscape is growing more complex, digital reporting requirements are expanding, and multinational operations face heightened scrutiny. By not engaging with tax planning proactively, companies risk unnecessary exposure to penalties, inefficiencies, and missed opportunities for tax optimisation.”

In reality, company tax filing – when approached strategically – is far more than a statutory obligation. It provides finance and tax leaders a lens to uncover operational efficiencies, anticipate and mitigate risks, and gain clearer, more actionable insights into a company’s overall financial health.

“The biggest shift finance and tax leaders need to make is adopting a forward-looking mindset,” Eunice continues. “Tax should be embedded into the broader business planning process, not treated as a standalone compliance function. When tax considerations are integrated into budgeting, forecasting, capital allocation, and investment decisions, they become a tool for strategic decision-making rather than merely a compliance obligation. Companies that recognise this shift can align tax management with growth initiatives, risk management, and long-term financial planning.”

This shift is particularly critical against the backdrop of rising regulatory complexity, digital reporting obligations and increasing scrutiny across jurisdictions, particularly for multinational companies. The annual tax return submission has evolved into a business-critical touchpoint that goes beyond end-of-year execution — now requiring strategic attention, continuous oversight and proactive cross-functional alignment between finance/tax, operations and executive management.

What Is Company Tax Filing in Singapore and Why It’s More Than Just a Box-Tick

In Singapore, corporate tax filing is administrated by the Inland Revenue Authority of Singapore (IRAS). While the procedural steps for tax submission may seem routine, its implications to tax submission extend far beyond mere compliance. Poorly executed tax submission can expose companies to penalties, audits and reputational risk. Conversely, strategically managed tax submission can strengthen governance, support cash flow management, and enhance long-term financial planning.

At its core, company tax filing in Singapore includes two key milestones:

Estimated Chargeable Income (ECI): Companies must complete their ECI filing within three months of the end of their financial year, unless exempted.
Annual Income Tax Return: To be submitted by 30 November of the Year of Assessment.
- Form C for companies with revenue exceeding S$5 million or those claiming specific reliefs (e.g., group relief, foreign tax credits)
- Form C-S for companies with annual revenue of S$5 million or below
- Form C-S (Lite) for those with revenue of S$200,000 or below

Key Corporate Tax Filing Dates for Companies in Singapore

Filing Requirement	Description	Deadline
ECI Filing	Declaration of estimated taxable income	Within 3 months after Financial Year End (FYE)
Form C / Form C-S Submission	Annual corporate income tax return	30 November (Year of Assessment)
Final Tax Payment	Based on IRAS-issued Notice of Assessment (NOA)	As per NOA due date

The Hidden Risks of Treating Corporate Tax Filing as a Compliance Checklist

For smaller, single-entity businesses with stable financials, tax filing may be relatively straightforward. However, for businesses with regional operations, multiple entities, intercompany transactions, or ongoing restructuring, the complexity increases significantly.

“In Singapore, there’s no consolidated group tax reporting. Tax compliance is inherently country-specific and entity-specific. Each entity is required to prepare and file its tax returns, well supported by detailed tax computations and defensible transfer pricing documentation,” Eunice explains.

Moreover, Singapore’s compliance landscape is tightening. Real-time reporting expectations, cross-border data exchanges under the Organisation for Economic Co-operation and Development (OECD) frameworks, and greater regulatory cooperation across the Association of Southeast Asian Nations (ASEAN) mean that even minor errors or inconsistencies can lead to costly consequences.

“Without proactive tax planning, companies may end up with inconsistent tax reporting across jurisdictions, gaps in documentation, and heightened exposure to tax audits,” Eunice emphasises.

A reactive filing approach also limits flexibility. Companies that embed strategic tax planning into their governance frameworks are better positioned to capitalise on incentive schemes, manage risk and support long-term growth plans.

In short, the filing of corporate tax returns is a strategic opportunity for finance leaders to bring tax into the broader business conversation.

From Compliance to Competitive Advantage: Re-thinking Your Company Tax Filing Strategy

Too often, corporate tax filing in Singapore is treated as a cost of doing business – a legal requirement that sits outside the strategic focus of the finance function. However, for companies willing to rethink their approach, tax filing can become a powerful lever for insight, control, and competitive differentiation.

Unlocking Insight and Efficiency

When tax filing is integrated into a company’s broader planning process, it provides real-time visibility into financial performance and risk exposure. A well-structured approach can uncover:

Eligible tax deductions and incentives
Patterns in cash flow and expense categorisation
Forecastable liabilities for more accurate budgeting

“Strategic tax planning isn’t just about reducing the tax bill, it’s about minimising the risk of oversight, ensuring accuracy, and embedding both financial and tax insights into decision-making,” Eunice elaborates. “And when tax data feeds into cashflow, forecast dividend planning, or business expansion strategies, this shifts the tax function from being reactive to being proactive.”

Strengthening Cross-Border Governance

Multinational companies operating across Asia face a particularly complex tax compliance environment. Differences in corporate tax filing timelines, documentation standards and regulatory scrutiny can leave even well-resourced finance teams exposed.

That’s where proactive tax filing plays a critical role.

“With the rise of real-time tax reporting, cross-border data exchange, and frameworks like BEPS 2.0, any inconsistency between entities can trigger audits or disputes. Companies must harmonise their tax approach across the group – this requires proactive tax planning, not reactive tax fixes,” Eunice explains. “Treating tax filing as a strategic lever enables companies to shift from compliance-driven operations to insight-driven decision-making, creating a clear competitive advantage in a complex business landscape.”

Companies that embed tax planning into operational and structural decisions are better equipped to manage intercompany pricing, avoid double taxation and maintain audit readiness across jurisdictions.

Supporting Business Growth Objectives

Strategic tax planning can also accelerate business growth by:

Ensuring clean financial records for mergers and acquisitions or joint ventures
Making it easier to access and comply with tax incentives
Streamlining legal entity setup and restructuring
Improving stakeholder confidence through strong governance

“A proactive tax strategy can influence business outcomes. With strategic tax planning, businesses can better plan capital allocation, optimise funding requirements, and anticipate regulatory impacts before they arise,” Eunice emphasises.

This becomes particularly relevant when a company is preparing for investment, expansion, M&A or public listing – all scenarios where historical tax performance and compliance posture come under scrutiny.

Why Work with a Specialist Tax Partner

For many companies, especially those with complex corporate structures, delivering audit-ready, future-focused tax filing in-house is challenging. It requires not only deep technical knowledge but also scalable processes and the ability to keep pace with regulatory change.

“This is where BoardRoom adds real value. We bring a regional tax team with local expertise, supported by technology that ensures consistency and compliance. That allows clients to focus on their business, while we handle the risk,” Eunice highlights. “This combination ensures that tax filings are accurate, statutory tax deadlines are met, and regulatory tax changes are immediately reflected in the tax process. By outsourcing the complex and high-risk aspects of tax management, companies free up internal resources to focus on core operations, growth initiatives, and strategic decision-making.”

BoardRoom’s approach includes:

Tech-enabled corporate tax filing with automation and compliance alerts
Centralised dashboards for real-time visibility across markets
Advisory services that align tax with business strategy
Transfer pricing and cross-border planning to reduce audit exposure

By moving company tax filing from a year-end chore to a continuous, insight-rich process, finance leaders can position their companies to grow with confidence and control.

Make Company Tax Filing Work for Your Business, Not Against It

Tax filing can be a strategic opportunity, and for businesses with complex corporate structures, evolving compliance burdens or regional operations, shifting from a reactive to a proactive model is key.

“Most businesses come to BoardRoom thinking tax services are just about meeting statutory tax deadlines. But we help them rethink tax function – as a lever for growth, a shield against risk, and a source of financial insight. Companies that treat tax as an analytical instrument can make better decisions around timing of expenditures, capital investment, and market expansion, while also identifying opportunities for deductions, credits, and incentives that would otherwise be overlooked,” says Eunice.

Eunice adds, “When companies shift from reactive tax filing to proactive tax planning, they gain better visibility and more control over their business. Tax becomes part of the solution, not just a compliance problem. For example, early identification of tax exposures allows management to implement mitigation strategies, allocate resources more efficiently, and avoid last-minute pressures that can lead to errors or penalties.”

With the right processes, tools and expert guidance, income tax filing for companies can go from administrative overhead to strategic enabler. By rethinking how they file company tax returns, companies can unlock untapped value and ensure long-term sustainability.

“In traditional workflows, tax teams work in isolation. When tax data is fragmented, delayed, or inconsistent, tax becomes a rear-view mirror rather than a forward-looking lens. As a result, tax becomes historical reporting rather than future-focused insight,” Eunice explains. “Finance and tax leaders may miss opportunities for tax optimisation, and tax compliance risk increases. Integrating tax with operational, budgeting, and forecasting data allows teams to identify trends, assess risk in real time, and make informed decisions that drive business growth.”

This transformation requires more than just intent; it calls for:

Integrated processes that connect tax to budgeting, forecasting, and operations
Technology-enabled platforms that simplify e-filing corporate tax returns and boost reporting accuracy
Specialist tax advisory that ensures every opportunity for optimisation is identified and validated

For complex organisations, particularly those managing multiple entities or planning growth through mergers and acquisitions, strategic filing of company tax returns is critical. The difference between a reactive and proactive approach can be measured in both cost savings and business agility.

Eunice elaborates, “We have supported clients in maximising tax deductions on IP and R&D expenditure, navigating corporate amalgamation projects, and structuring cross-border expansions efficiently. For instance, one client obtained significant tax deduction on IPR claim submission. Another client successfully executed a corporate consolidation with minimal tax leakage. These examples demonstrate how proactive, strategic tax planning translates into tangible business benefits.”

For companies with complex footprints, manual processes and siloed teams only add friction. Engaging a trusted tax partner like BoardRoom provides access to regional expertise, smart technology, and advisory insights that align tax with business goals.

Turn Tax into a Strategic Advantage with BoardRoom

If your current approach to corporate tax returns still feels like box-ticking, it’s time to reframe. Partnering with an expert like BoardRoom means more than timely company tax filing. It means strategic insights, tax-efficient structures and greater business confidence.

Get in touch with BoardRoom’s tax specialists today to prepare a smarter, more strategic Annual Return filing plan for 2025.

Contact BoardRoom for more information:

Eunice Hooi

Managing Director Asia, Tax & Accounting

E: [email protected]

T: +65 6536 5355

How can your business benefit from the Johor-Singapore Special Economic Zone?

September 24, 2025September 24, 2025 khushbuthakkar

The Johor-Singapore Special Economic Zone (JS-SEZ) is a landmark cross-border initiative designed to deepen economic integration and accelerate growth across Southeast Asia. The JS-SEZ offers businesses structural advantages, including tax incentives, simplified cross-border operations, access to skilled talent and targeted government support.

More than a geographic corridor, the Johor-Singapore Special Economic Zone is a strategic move to attract high-value industries, such as advanced manufacturing, logistics and technology.

Eunice Hooi, Managing Director Asia, Accounting and Tax at BoardRoom Group, comments, “Historically, businesses crossing the Malaysia-Singapore border faced fragmented procedures—duplicated customs declarations, different licensing processes, and varied regulatory compliance requirements. By harmonising these processes, the SEZ s aims to streamline customs, reduce regulatory delays and duplication, minimize administrative burdens and lower operational costs across both jurisdictions”.

Eunice further adds “In essence, the JS SEZ transforms a traditionally complex dual-jurisdiction operation into a streamlined, cost-efficient supply chain model, and enhances the go-to-market execution”. With early momentum building, businesses that act now may gain a competitive edge.

What is the Johor-Singapore Special Economic Zone?

The meaning of a special economic zone lies in its designation as an area with tailored regulatory and economic policies, aimed at attracting investment, enhancing trade and fostering industrial growth. To attract businesses to the zone, governments usually offer a range of incentives, such as tax breaks, simplified customs procedures, and infrastructure support.

The Johor-Singapore Special Economic Zone is unique in that it takes a cross-border approach. Jointly developed by the governments of Malaysia and Singapore, the JS-SEZ spans Johor (Malaysia) and Singapore. Its purpose is to facilitate integrated business activity across both jurisdictions while reinforcing Southeast Asia as a hub for innovation and regional commerce.

“The JS-SEZ addresses a critical barrier to cross-border expansion: regulatory fragmentation. The JS-SEZ is designed to harmonise regulatory frameworks – from customs and licensing to immigration – and eliminate duplication,” says Eunice. “By harmonising these systems, the SEZ provides businesses with predictable regulatory pathways, and makes it easier for businesses to operate across both countries”.

The JS-SEZ includes a joint facilitation centre, acting as a one-stop platform for businesses to process permits, licenses and applications that previously spanned separate regulatory systems. Importantly, these benefits are specific to operations based in Johor and are supported by the Johor state government.

Targeted Sectors and Their Benefits

The Johor-Singapore Special Economic Zone targets 11 high-growth sectors chosen for their strategic value to regional development.

Eunice shares her insights, “By targeting these sectors, the JS-SEZ aligns regional economic priorities with business incentives, creating an environment where high-value industries can scale operations, invest in technology, and tap into a regional talent pool/

The sectors and their associated benefits are presented below:

Sector	Key Benefits
Advanced Manufacturing	Reduced customs barriers, access to integrated logistics, and tax incentives.
Logistics	Streamlined customs, improved connectivity, and digital logistics infrastructure
Food Security	Support for agri-tech and food processing industries, with investment incentives.
Tourism	Incentives for integrated tourism projects including eco and medical tourism.
Energy	Focus on renewable energy and cross-border energy collaboration and infrastructure.
Digital Economy	Preferential tax rates, support for AI, data centres, and tech innovation.
Green Economy	Incentives for sustainable businesses and green technology initiatives.
Financial Services	Expansion of banking, fintech, and capital markets to support regional businesses.
Business Services	Growth of corporate, legal, and professional services with regulatory support.
Education	Development of talent pipelines through institutions and upskilling programmes.
Health	Expansion of healthcare services and medical tourism, supported by tax incentives.

Eunice shares further insights, “For instance, a tech company investing in an AI campus can benefit not only from lower taxes but also from simplified cross-border employment visas, access to data centres in Johor, and collaborative R&D opportunities with Singapore-based partners.” These sector-specific incentives are designed to support long-term investment and cross-border scalability. They also highlight the JS-SEZ’s broader aim of functioning as a regional launchpad for high-value industries.

Business professionals shaking hands with overlay icons symbolising the special economic zone meaning in practice.

What Makes the SEZ a Game-Changer for Businesses?

For companies eyeing regional expansion, the Johor-Singapore Special Economic Zone offers more than incentives – it provides a launchpad for long-term scalability and cross-border integration. With cost efficiency, regulatory clarity and access to key markets, the JS-SEZ helps businesses overcome traditional growth barriers. These advantages are especially valuable for capital-intensive or fast-scaling sectors.

Key tax provisions – such as a 5% corporate tax rate for up to 15 years and Investment Tax Allowances of up to 100% – are not just financial sweeteners. They create room for reinvestment, innovation and operational resilience.

As Eunice explains, “The JS- SEZ is structured to support business growth — it’s not merely about favourable tax rates, but it’s creating an operational ecosystem that allows businesses to operate with clarity and administrative ease. In practical terms, this combination of tax incentives and administrative efficiency would undoubtedly increase the speed-to-market for goods and services, while lowering the costs and risks operating across these two jurisdictions.”.

Crucially, the JS-SEZ facilitates faster go-to-market execution. Joint facilitation centres and harmonised customs processes reduce delays, while digital systems simplify the movement of goods, talent and capital across the Causeway.

Companies also gain a broader talent base and benefit from improving frameworks for workforce mobility. Combined with strong government support, including infrastructure investment and skills funding, the JS-SEZ helps businesses scale operations confidently on both sides of the border.

Momentum is already visible. Across multiple special economic zone areas, early movers are establishing data centres, AI campuses, EV parks, and healthcare hubs. They are using the JS-SEZ to strengthen regional operations and future-proof their growth. The Singapore-Johor Special Economic Zone is not a future concept. It’s a working model of regional business enablement.

Is Your Business Positioned to Succeed in the JS-SEZ?

While the Johor-Singapore Special Economic Zone offers strong advantages, it won’t suit every organisation. Businesses that succeed in special economic zone areas typically meet certain strategic and operational criteria.

If your business checks several of the following boxes, you may be well-placed to benefit from the SEZ:

You operate in one of the 11 priority sectors.
You’re expanding in Southeast Asia or looking for a cost-effective regional base.
You want to reduce operational overheads and streamline cross-border processes.
You rely on access to skilled talent from both Malaysia and Singapore.
You’re prepared to manage dual-jurisdiction compliance or plan to engage expert advisors.

C-suite teams should also consider the following key questions:

Are we structured to support activity across both Malaysia and Singapore?
Can we meet minimum capital investment thresholds to qualify for incentives?
Do we have the right partners to help us navigate cross-border regulatory requirements?

“There’s no one-size-fits-all compliance model in the JS-SEZ as the operational footprint, tax incentives, regulatory and capital investment requirements vary by sector,” says Eunice.

“Each setup must be structured carefully from the start. For instance, a logistics company may prioritise customs facilitation and transport infrastructure, while a fintech firm may focus on banking regulations and digital economy incentives” Eunice further adds. “Misalignment at the outset can result in missed tax benefits or regulatory delays. Careful structuring ensures that entity setup, licensing, and workforce planning are optimised for dual-jurisdiction compliance, risk management, and maximum operational efficiency”.

Timing is critical. Companies that enter early can take advantage of the most generous incentives and greater flexibility when choosing partners, land and infrastructure. As interest grows, competition will intensify and late entrants may face longer approval times, reduced access to funding programs and fewer strategic options.

Choose an interesting fact or point from the article that is relevant to this image

How BoardRoom Can Help You Set Up in the Johor-Singapore SEZ

Expanding into the Johor-Singapore Special Economic Zone requires more than registering a business. It demands a coordinated, cross-border approach that aligns with incentive frameworks, regulatory requirements and long-term strategic goals. BoardRoom is well-placed to guide businesses through this process from start to scale.

BoardRoom can assist with incorporation in both Johor and Singapore, structuring entities to meet JS-SEZ-specific requirements while optimising tax exposure. Our team helps secure the right permits, licences and approvals through the joint facilitation centre and ensures compliance across both jurisdictions.

BoardRoom supports businesses in identifying and applying for available tax incentives, including the 5% special tax rate and investment allowances, while also advising on transfer pricing, tax residency and avoiding double taxation.

“Our role is to help businesses structure their operations so they can maximise available sector-specific incentives while remaining compliant. We will take into considerationthe minimum capital thresholds, as well as the flow of goods, services and personnel across the border,” explains Eunice. “We can also advise on the transfer pricing frameworks to ensure that the cross-border transactions between Johore and Singapore entities are compliant across the jurisdictions”.

With the , we provide ongoing governance support, covering statutory filings, financial reporting, payroll and employment pass guidance, helping businesses manage operational compliance on both sides of the Causeway. Beyond technical delivery, BoardRoom can act as a strategic partner: monitoring policy shifts, advising on sector-specific opportunities, and connecting clients with key government and business networks.

Whether you’re exploring the JS-SEZ or ready to launch, BoardRoom brings the cross-border insight and operational depth needed to help you succeed.

A Strategic Move Starts with the Right Partner

The Johor-Singapore Special Economic Zone presents a compelling opportunity for businesses seeking to expand in Southeast Asia. Tax incentives, simplified cross-border operations, and targeted sector support offer a strong foundation for growth.

But real success in the JS-SEZ depends on more than location. It requires strategic planning, regulatory foresight and the right partners to navigate a complex cross-border environment. Businesses that move early stand to gain the most from securing favourable incentives to establishing a strong operational footprint ahead of rising demand.

With the JS-SEZ Project Office now in place to facilitate cross-border investment, BoardRoom is ready to support your expansion every step of the way. The JS-SEZ Project Office, set up by the Ministry of Trade and Industry (MTI), Enterprise Singapore, and the Singapore Economic Development Board, complements Malaysia’s Invest Malaysia Facilitation Centre – Johor, which was launched in February to facilitate investments into the region.

At BoardRoom, we’re here to help you assess your JS-SEZ readiness and execute with confidence. From incorporation and tax structuring to ongoing compliance and regional strategy, our team is ready to support your expansion every step of the way.

Explore your potential in the Johor-Singapore Special Economic Zone with BoardRoom. Speak with our experts today to begin your journey into Southeast Asia’s most high-potential growth zone.

Contact BoardRoom for more information:

Eunice Hooi

Managing Director Asia, Tax & Accounting

E: [email protected]

T: +65 6536 5355

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Hybrid AGM Meetings: A Strategic Guide for Board Members

September 12, 2025September 12, 2025 khushbuthakkar

Once limited to physical venues, AGM meetings have evolved alongside advancements in governance and technology. The shift began during the COVID-19 pandemic and has since been reinforced by regulatory updates from Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Exchange (SGX), which now provide greater flexibility in how meetings are conducted.

Today, hybrid AGMs, combining in-person and virtual participation, are becoming increasingly common, promoting accessibility, transparency, and broader shareholder engagement.

Nonetheless, physical AGMs continue to hold significance, especially for shareholders who prefer direct, in-person interaction. Charlyne Pak, Manager, Share Registry Services, BoardRoom Singapore, notes that hybrid formats support broader engagement without the loss of human touch. This guide provides advice for board members navigating hybrid AGM meetings to ensure compliance and shareholder accessibility.

What is a Hybrid AGM Meeting?

An AGM meeting (Annual General Meeting) is a vital event where shareholders review company performance, vote on key matters and engage with the board. Among the various types of shareholders’ meetings, AGMs are legally required and central to corporate transparency.

A hybrid AGM integrates in-person and virtual participation, allowing shareholders to attend, vote and ask questions from any location. This format supports greater inclusivity and flexibility, especially for overseas shareholders, individuals with accessibility needs, or shareholders with scheduling conflicts.

“Hybrid AGM allows more shareholders to participate meaningfully, regardless of their location,” says Charlyne. “It promotes inclusivity without compromising governance”.

Key features of a hybrid digital meeting include secure online voting, live Q&A, and access to documents and presentations. Proxy appointments can be made via physical forms and/or electronically, with systems in place to verify identity and ensure voting integrity.

While digital engagement is rising, physical AGMs remain important, as many shareholders still value in-person interaction. The hybrid digital meeting format offers the best of both worlds, making it a strategic choice for boards aiming to balance accessibility, compliance and shareholder trust built on transparency and inclusive participation.

Navigating Compliance and Regulatory Considerations

As hybrid AGM meetings become more prevalent, it is crucial to ensure that meeting formats adhere strictly to regulatory requirements. The legal framework for AGM meetings is set out in the Companies Act for private limited and non-listed public companies and Listing Rules for listed entities. These rules provide clear mandates for maintaining corporate transparency and safeguarding shareholder rights, regardless of whether a meeting is conducted in person or in a hybrid format.

Singapore’s Regulatory Landscape for AGM Meetings

Companies are required to provide shareholders with clear and timely AGM notices, detailing the meeting date, time, agenda, venue, and procedures for both physical and virtual participation. Instructions must also cover real-time electronic voting, how to access meeting documents, and how to submit questions in advance or during the meeting. These notices must be distributed within statutory timelines, made easily accessible, often via company websites or digital platforms.

For listed companies, the SGX Listing Rules and Practice Note 7.5 provide further guidance, emphasising fairness, transparency, and inclusivity. Shareholders should be given at least seven days after the meeting notice is published to submit written questions, and issuers are encouraged to respond promptly, ideally before proxy forms are lodged. Crucially, hybrid meeting arrangements must not disadvantage virtual attendees: they must be able to vote, raise questions, and receive real-time responses with the same ease as those attending in person.

“Advance submission of questions is especially helpful for those who are less comfortable speaking in public,” says Charlyne. “It enhances board accessibility and builds trust by ensuring everyone has a chance to be heard”.

Best Practices for Governance-Compliant Hybrid Digital Meetings

To support full compliance and uphold good governance, BoardRoom recommends the following best practices:

Clear, Inclusive Meeting Notices

Clearly outline how to access the physical venue and online platform.
Provide detailed instructions for proxy submission, voting procedures and accessing documents.

Equal Participation and Voting Rights

Ensure virtual and physical attendees can vote with equal rights and convenience.
Use secure, auditable e-voting systems that support real-time voting.

Robust Technology Infrastructure

Deploy secure platforms with proven uptime and data protection standards.
Include redundancy systems and real-time tech support to manage unexpected disruptions.

Real-Time Shareholder Engagement

Allow shareholders to submit questions live.
Provide equal Q&A time for virtual participants, and moderate responses transparently.

Transparent Proxy Management

Provide options for both physical and electronic proxy submissions.
Communicate proxy deadlines clearly and accurately.

“Companies must ensure that hybrid arrangements do not create inequalities in participation,” explains Charlyne. “Shareholders attending virtually must enjoy the same rights as those present physically. This includes voting, asking questions and receiving real-time responses from the board”.

Shareholder Engagement and Hybrid AGMs

Shareholder engagement is a cornerstone of effective corporate governance. Hybrid AGMs have become a tool to enhance this engagement. When done well, hybrid AGMs remove traditional access barriers and foster a more inclusive, transparent dialogue with shareholders.

Enhancing Participation with Digital Tools

Hybrid AGMs use integrated technologies that ensure both virtual and physical attendees can participate equally. These include:

Secure electronic voting systems that are auditable, easy to use and enable real-time vote casting.
Live Q&A sessions that allow shareholders to pose questions during the meeting, whether present physically or virtually.
Live polling features that capture sentiment in real time accurately, reinforcing the value of shareholder input during key decisions.

Managing Concerns: Security, Privacy and Integrity

With the growing use of digital tools, boards must also address concerns around data security, fraud prevention and system reliability. A hybrid AGM introduces new potential risks, such as unauthorised access, data leaks or system failures. If not managed properly, these risks can undermine trust and regulatory compliance.

Digital security best practices include:

user authentication protocols to verify shareholder and proxyholder identities before granting access to meeting platforms;
end-to-end encryption of voting and participation data;
redundant systems and real-time tech support, ensuring continuity even in the event of a technical issue.

“We work closely with our technology partners to deliver fully tested, secure platforms,” says Charlyne. “Our systems are designed to support the end-to-end meeting process, from pre-meeting communication to post-meeting reports, safely and seamlessly”.

Risk Management and Future Proofing AGMs

Running a hybrid AGM meeting means managing two formats concurrently, increasing the complexity around system reliability, data privacy and operational continuity. It is incumbent on boards to proactively address risks tied to technology, compliance and stakeholder trust.

“Hybrid AGMs require meticulous planning,” says Charlyne. “Platform security, user authentication and contingencies must all be in place to mitigate disruptions and reinforce trust”.

Ultimately, the conversation about hybrid AGMs is not about replacing physical meetings but enhancing them. Each format serves unique needs, and by integrating both, organisations can strengthen governance, expand access, and manage risk more effectively.

BoardRoom’s digital solutions support features like e-proxies, real-time online voting and self-registration tools, all backed by secure, PDPA-compliant platforms with end-to-end encryption. Real-time tech support and rigorous dry runs ensure resilience against system failures and cyber threats. Beyond compliance, BoardRoom offers a suite of integrated services managing everything from meeting documents distribution, proxy validation, user authentication, registration, voting to provision of post-meeting reports.

Charlyne adds that conducting full-scale dry runs to test the voting systems is key, as well as ensuring stakeholders are familiar with the platform. “It’s about making sure the experience is seamless and inclusive for every participant, regardless of format”, adds Charlyne.

Partnering with BoardRoom for Hybrid AGMs

Hybrid AGMs represent more than a technological upgrade – they can be a strategic step forward. As companies adapt to evolving expectations, hybrid AGMs allow boards to remain accessible, transparent and inclusive, without sacrificing the integrity of the AGM meeting.

BoardRoom’s hybrid AGM solutions are built to scale, fully compliant with Singapore’s legal framework and supported by trusted technology partners.

“At BoardRoom, we offer more than just technology — we deliver complete meeting experiences,” says Charlyne. “We support our clients through the entire lifecycle, from regulatory compliance, proxy handling to real-time voting and post-meeting reporting, ensuring every aspect of the meeting is seamless and secure”.

Get in touch today to learn how we can help you deliver a compliant, engaging and future-ready AGM.

Contact BoardRoom for more information:

Charlyne Pak

Manager, Share Registry Services, BoardRoom Singapore

E: [email protected]

T: +65 6536 5355

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How To Ensure CPF Compliance In Singapore Payroll Processes

September 11, 2025September 11, 2025 firstpagedigitalaccount

The Central Provident Fund (CPF). is a key component of Singapore’s payroll system, ensuring employees’ financial security by supporting long-term financial well-being, covering their future needs such as retirement, housing and healthcare.

For businesses in Singapore, accurate and compliant CPF processing is not just a payroll function, it’s a legal obligation. Non-compliance with CPF regulations can lead to significant penalties, audits, legal consequences, and reputational damage. That is why proper CPF management is essential for every employer. From applying the correct CPF contribution rates in Singapore, to maintaining precise records, every step matters. Ensuring CPF compliance not only helps protect your business reputation but also supports smooth and sustainable operations.

This article explores common CPF payroll challenges and provides practical steps to help businesses stay compliant and efficient. It also highlights how our payroll services can ensure accurate CPF reporting, giving employers and greater peace of mind.

Common CPF Compliance Issues

Miscalculating CPF Rates

A common issue in CPF payroll processing is the use of incorrect contribution rates. In Singapore, CPF rates vary based on an employee’s age group, citizenship status, and total wages. Applying the wrong rate, whether for the employer or employee portion, can result in back payments, fines, and potential audit complications.

Miscalculations often arise from bonuses (treated as Additional Wages and subject to AW ceiling), the CPF Ordinary Wage ceiling, or allowances that may or may not be CPF-liable. Incorrect calculations not only affect compliance but also impact your employee’s take-home pay and long-term CPF savings for retirement, housing, and healthcare, leading to dissatisfaction and compliance risk.

Late CPF Payments

Employers in Singapore are required to make CPF contributions by the 14th of each month. Missing this deadline can result in late payment interest, fines, or even enforcement actions from the CPF Board. Repeated delays may trigger audits and negatively impact your company’s regulatory standing.

For more details, visit the official CPF contribution page: CPF contributions by the 14th of each month .

Inadequate Record-Keeping

Poor documentation of CPF payroll records is another common compliance pitfall. Businesses must retain payroll and CPF records for at least a period of five years. If your payroll documents are incomplete or inaccurate, proving compliance during an audit becomes far more difficult.

Tips on How to Stay CPF Compliant

Understand CPF Rates and Guidelines

Understanding Singapore’s CPF contribution rates is essential for accurate payroll processing. These rates change based on an employee’s age and other eligibility criteria. For instance, employees aged 55 and above may have reduced contribution rates, while newly granted Permanent Residents follows a graduated contribution schedule over two years.

Staying updated on CPF rate changes help ensures accurate contributions and prevents issues such as underpayment or overpayment, which could lead to compliance risks.

Automate CPF Payroll Processes

Manual CPF payroll calculations leave room for human error. Instead, automate processes using compliant payroll systems or work with a trusted payroll provider. These solutions help ensure CPF contributions are calculated accurately, submitted on time, and properly recorded.

Outsourcing CPF management to experts like BoardRoom can help your business remain fully compliant while reducing administrative overhead. Learn more about how our Ignite payroll system supports efficient, automated CPF payroll management.

Ignite payroll system

Categorise Employees Correctly

Not all employees are CPF-eligible. For instance, foreign employees on Employment Passes are not required to make CPF contributions. In contrast, Permanent Residents and Singapore Citizens are subject to CPF deductions at different rates depending on various factors.

Properly identifying employee types ensures the correct application of CPF payroll rules and eliminates common compliance mistakes.

Track and Set Internal Payroll Deadlines

While the CPF payment deadline is the 14th of every month, the best practice is to set internal cut-off dates earlier. If the 14th falls on a weekend or public holiday, payments must be submitted by the previous working day.

Establishing a clear payroll calendar and workflow helps your HR team avoid last-minute submissions and late penalties.

The Importance of CPF Payroll Accuracy

CPF compliance is more than a formality; it ensures your employees’ long-term welfare and protects your business from fines and legal action.

Getting it right means understanding how to manage:

Contribution ceilings and caps
Ordinary Wage (OW) and Additional Wage (AW) definitions
CPF reliefs and exemptions
Voluntary contributions (for specific cases)

Accurate CPF payroll practices also promote trust among employees, who rely on timely contributions for their retirement, housing, and medical needs.

How BoardRoom Can Help Support CPF Management

BoardRoom offers end-to-end payroll services designed to ensure smooth CPF compliance across your organisation in Singapore. Our expert team handles everything from payroll processing to CPF submissions, ensuring every contribution is accurate, timely, and audit-ready.

Here is how we help:

Local Expertise: We stay up to date with all CPF rate changes and CPF Board regulations, so you do not have to.
Seamless CPF Payroll Processing: We calculate and file your contributions precisely and on time.
Customised CPF Management: Our services adapt to your business structure and workforce composition, whether you are managing a local team or a mix of locals and foreigners.
Data Accuracy & Security: Our secure digital systems track CPF contributions and payroll records to ensure full compliance and confidentiality.

By outsourcing payroll processing such as CPF management to BoardRoom, your HR team can focus on strategic tasks instead of worrying about compliance risk.

Getting CPF Compliance Right from Day One

CPF compliance is a key part of responsible employment practice in Singapore. From understanding the applicable CPF rate in Singapore, to managing monthly employee CPF contributions accurately, it is important to treat the CPF payroll with the same level of seriousness as other tax and statutory obligations.

Whether you are a small business or a large enterprise, proper CPF management is the key to avoiding penalties, supporting employee trust, and running a smooth payroll operation.

BoardRoom is here to simplify the process. With 50 years of payroll experience in Singapore and the wider APAC region, we help businesses like yours ensure accurate, compliant, and efficient CPF payroll every month.

Talk to BoardRoom today to learn how we can take the complexity out of CPF compliance for your organisation.

Tips on staying tax compliant for your business in Singapore

September 11, 2025September 11, 2025 firstpagedigitalaccount

In Singapore’s competitive business environment, tax compliance is more than a routine task; it is a key part of responsible business management. Singapore’s tax system is built on clear guidelines and efficient processes. But even with these advantages, many businesses still face challenges in fully complying.

Failing to comply with tax laws in Singapore can lead to financial penalties, damage to your company’s reputation, and in some cases, legal consequences. Business leaders must stay informed and proactive to ensure they meet their obligations under the corporate tax rules in Singapore.

This article outlines the most common tax compliance challenges and offers practical steps to help businesses stay aligned with the Singapore corporate tax guide. For companies looking to strengthen compliance and reduce risk, the insights below provide a solid place to start.

Common Tax Compliance Challenges in Singapore

Understanding tax obligations

Even in a business-friendly environment like Singapore, tax rules can be misunderstood. Many companies are unclear about basic filing responsibilities, such as which form to submit, Form C, Form C-S, or Form C-S Lite , or how their tax residency status impacts their filing.

A lack of clarity on these matters can affect your tax position and limit access to available reliefs. This is especially true for growing businesses or regional operations without dedicated tax functions. Understanding your obligations under tax laws in Singapore is the foundation of good financial compliance.

Keeping up with changes in tax regulation

The Singapore tax framework is built for clarity, but that does not mean it is static. Businesses are expected to stay informed of updates to tax regulations, including changes to rates, filing requirements, or international compliance measures like transfer pricing.

IRAS regularly adjusts tax rules to align with global standards, including Organisation for Economic Co-operation and Development (OECD) initiatives such as BEPS 2.0 . If your company is not monitoring these changes, there is a real risk of compliance gaps. Business leaders who treat tax as a once-a-year exercise may be caught off guard.

Errors in tax filings

Even small mistakes in your filings can carry serious consequences. Misreporting income, failing to claim allowable deductions, or submitting late returns can lead to penalties or even audits. Many of these issues stem from poor record-keeping or a lack of checks before submission.

It is not just about avoiding fines; it is about showing that your business takes compliance seriously. Companies that do not prioritise accuracy in tax matters may find it harder to build trust with partners, investors, or regulators.

Cross-border tax challenges and transfer pricing

Many businesses today operate across borders, and that brings added tax risk. Related-party transactions must be supported by proper transfer pricing documentation, and tax filings must reflect fair, arm’s-length pricing.

Singapore’s rules are clear on this front. Companies that do not meet the documentation requirements or fail to apply the right pricing methods risk adjustments and financial penalties. The Singapore corporate tax guide includes specific guidance on this topic, and it is not something to overlook, especially for businesses engaged in regional trade.

Tips to Stay Tax Compliant

Know your deadlines

Late submissions are one of the most common tax offences in Singapore. Businesses must file their Estimated Chargeable Income (ECI) within three months after their financial year ends and submit their annual income tax return by 30 November each year .

These are hard deadlines, and IRAS enforces them strictly. Keeping a centralised compliance calendar and assigning internal ownership of filing responsibilities can help prevent delays and missed cut-off dates.

Maintain accurate financial records

Your ability to file correctly depends on the accuracy of your financial data. IRAS requires businesses to keep complete records of all transactions for at least five years. These records should support the numbers reported in your tax filings, including invoices, receipts, contracts, and bank statements.

Organised, digital-first recordkeeping makes the process far smoother, especially during audits or tax queries. It also ensures that you are well-positioned to benefit from any tax reliefs or deductions available under corporate tax policies in Singapore.

Engage professionals with local tax expertise

Business owners often try to manage tax matters in-house, especially during the early stages of growth. However, tax compliance requires more than basic accounting skills. An experienced tax advisor can help you understand and apply tax laws in Singapore and ensure your filings are correct and on time.

A professional with local knowledge can also help your business understand how changes in tax regulations may affect your operations. That level of guidance becomes even more important for companies that operate across multiple jurisdictions or are subject to GST and transfer pricing requirements.

Leverage available tax incentives

Singapore offers a range of tax benefits to support innovation, productivity, and entrepreneurship. These include:

Start-Up Tax Exemption (SUTE): Start-ups that meet certain conditions can enjoy partial tax relief for their first three years.
Partial Tax Exemption (PTE): All companies, regardless of age or size, may be eligible for reduced tax on the first SGD 200,000 of chargeable income.

The key is knowing which reliefs apply to your business and meeting the requirements early. Many companies miss out simply because they are not aware of the opportunities and tax incentives available to them.

How BoardRoom Can Help

Comprehensive tax services

At BoardRoom , we work closely with businesses to support full compliance with corporate tax regulations in Singapore. From annual filing to tax advisory, our team helps simplify the process while keeping your business in line with the latest rules.

We provide support in all key areas, including ECI submissions, income tax returns, GST reporting and transfer pricing documentation. For companies with regional operations, we offer advice on cross-border issues and help you avoid common pitfalls related to international tax reporting.

Proactive support to stay ahead

HR outsourcing has evolved beyond basic payroll processing.

We help track deadlines, submit returns accurately, and reduce the risk of penalties. Clients also benefit from early updates and guidance on important tax regulation changes. We keep you informed and prepared, not just reactive.

With a clear view of your company’s tax position, you can plan better, make smarter financial decisions, and stay focused on growth, without worrying about falling behind on compliance.

Future-Proof Your Business with the Right Tax Approach

Tax compliance in Singapore should not be treated as an afterthought. It is a key responsibility that affects your financial stability and reputation. From meeting deadlines to claiming the right incentives, every part of the tax process matters.

With the right systems, support, and knowledge of tax laws in Singapore, businesses can avoid risk and focus on what matters most, running and growing the business.

Talk to BoardRoom today to learn how we can support your company with professional advice and end-to-end corporate tax services that meet Singapore’s highest standards.

For more insights, read our guide to corporate tax filing in Singapore.

Top Business Process Outsourcing Trends Globally in 2025

September 2, 2025September 2, 2025 boardroomsuperadmin

In 2025, the business process outsourcing (BPO) sector is experiencing a transformational surge. Fuelled by economic pressures, technological innovation and the need for strategic agility, outsourcing has evolved from a tactical cost-cutting move into a core growth enabler for global enterprises. According to Acumen Research and Consulting, the global BPO market is projected to hit USD 512.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.9% from 2022.

While North America holds the largest share of the BPO market, Asia-Pacific (APAC) is quickly emerging as the fastest-growing hub, thanks to its deep talent pools, multilingual workforce and expanding digital infrastructure. Within APAC, Singapore has cemented its status as a regional outsourcing powerhouse, offering an ideal blend of business-friendly regulations, innovation-driven policies and regional accessibility.

Understanding the key trends shaping BPO – plus their benefits and potential risks – will help CFOs, COOs, HR leaders and other decision-makers make informed choices that enhance scalability, ensure compliance and strengthen their competitive edge in 2025 and beyond.

What’s Driving the Growth in Business Process Outsourcing?

As businesses navigate shifting markets and rising demands, outsourcing is no longer just a cost-cutting measure; it’s becoming a core strategy for growth.

The following forces are driving the rapid expansion of BPO worldwide, shaping the key factors behind its momentum heading into 2025:

Economic uncertainty and cost pressures

Ongoing global uncertainty, rising labour costs and inflation are prompting companies to reassess cost structures. Outsourcing offers a more flexible cost model by converting fixed costs into variable ones while still delivering quality services.

Need for operational scalability and expertise

Businesses increasingly require access to domain specialists without the overhead of building internal teams. Whether for finance, tax, payroll or IT, outsourcing provides instant scalability and access to experts, especially in highly regulated or fast-changing industries.

Digital transformation and remote work

The acceleration of AI, automation and cloud technologies is redefining how services are delivered. Remote work has proven that geography is less of a constraint, allowing organisations to engage service providers across borders with minimal disruption.

APAC’s strategic advantage

APAC’s BPO market is expanding at the fastest compound annual growth rate globally, with Singapore leading the way. The city-state offers advanced infrastructure, a tech-savvy workforce and a central time zone that supports 24/7 operations across Asia and beyond.

Top Business Process Outsourcing Trends to Watch in 2025

With these factors fueling the rapid rise of outsourcing, the market’s growth shows no sign of slowing. Here are the top outsourcing trends for 2025:

End-to-End Finance Outsourcing

Gone are the days when businesses outsourced only bookkeeping, accounts payable or accounts receivable. Companies are increasingly entrusting their entire finance function – including accounting, statutory reporting and tax advisory – to external providers. This trend supports better financial planning, forecasting and risk management, particularly for companies expanding across borders.

HR Outsourcing Trends

HR outsourcing has evolved beyond basic payroll processing. In 2025, there is strong demand for services such as recruitment process outsourcing (RPO), cross-border payroll administration, onboarding and employee self-service portals. Providers like BoardRoom deliver fully managed payroll solutions across 19 APAC markets, with built-in compliance and customisation.

IT Services Outsourcing Trends

IT outsourcing continues to surge, particularly in cybersecurity, cloud infrastructure management and AI/automation support. As hybrid work models persist, businesses require secure, scalable IT support. According to rethinkCX, more than 50% of BPO vendors now use AI in client support environments, handling up to 80% of routine enquiries.

Industry-Specific Outsourcing

Tailored BPO offerings for niche sectors like fintech, healthcare and logistics are growing in popularity. These providers bring deep regulatory and operational knowledge, enabling more effective service delivery. For example, healthcare BPO partners manage everything from patient billing to telehealth scheduling.

Performance-Driven Outsourcing

In 2025, businesses are seeking outcome-based partnerships rather than transactional service agreements. This means BPO contracts now include service-level expectations tied to metrics like Net Promoter Score (NPS), First Call Resolution (FCR) and even ESG alignment.

ESG and Sustainability in BPO

Sustainability is no longer optional. A Deloitte study found that 40% of companies now favour outsourcing vendors with strong environmental, social and governance (ESG) credentials. Green data centres, paperless processes and diversity in staffing are now factors in vendor selection

The Benefits and Potential Risks of Outsourcing — and How to Navigate Them

Though outsourcing can drive growth, there are a range of potential challenges. Understanding both the advantages and possible risks helps business leaders make confident decisions and build strong, reliable partnerships.

The benefits are clear. Outsourcing reduces overheads by converting fixed costs into variable expenses while providing immediate access to specialised expertise in payroll, accounting, tax and compliance. It also enables rapid scaling of operations and supports faster market entry, particularly when expanding into new regions.

Conversely, risks such as data security breaches, regulatory non-compliance or unreliable service delivery can disrupt operations if they are not properly managed.

Choosing the right service provider can minimise these risks. Look for well-defined service level agreements, ongoing due diligence and providers with proven local and cross-border expertise. With the right safeguards, outsourcing remains a strategic lever for growth and operational flexibility.

How BoardRoom Helps You Outsource with Confidence

As one of APAC’s leading corporate services providers, the One BoardRoom Advantage offers businesses end-to-end outsourcing solutions backed by regional expertise, award-winning technology and a 50-year legacy of trust. These include:

Company Incorporation

BoardRoom can facilitate a seamless market entry into Singapore with end-to-end company registration and incorporation services. We assist with entity selection, name reservation, nominee directors and post-incorporation compliance. Our fast turnaround and in-depth tax structuring advice help businesses establish a compliant presence efficiently and effectively.

Across all services, clients have access to a dedicated account manager, providing a single point of contact for streamlined communication and quick response times. We combine local insights with regional scale, helping businesses navigate multi-jurisdictional complexity with confidence and clarity.

Payroll Outsourcing

BoardRoom’s Ignite payroll platform supports companies across 19 countries. It is a fully compliant, secure, cloud-based system with integrated leave and claims modules. BoardRoom maintains ISO 27001 and SOC 2 certifications, ensuring enterprise-grade security. It boasts a 24-hour SLA response rate and supports more than 500 clients in the region.

Tax Advisory and Filing

BoardRoom’s tax advisory and filing services help clients navigate complex Singapore and regional tax regulations, including GST, transfer pricing, corporate income tax and withholding tax. Services include tax health checks, due diligence, investment advisory and cross-border structuring. Our proactive approach ensures clients capture all eligible tax incentives and exemptions.

Accounting and Bookkeeping

BoardRoom’s accounting and bookkeeping services are reliable and accurate. With Xero Platinum Partner status, we provide advanced management and statutory reporting, group consolidation and financial year-end statement preparation. Clients, especially those operating across multiple jurisdictions, benefit from strategic cashflow insights and reduced compliance overheads.

Corporate Secretarial & Governance

With deep experience in Singapore’s Companies Act and regional listing rules, BoardRoom delivers robust secretarial and governance support. Services include company incorporation, named secretaries, board meeting management and full regulatory reporting for SGX, BURSA and HKEX.

Sustainability Services and Advisory

BoardRoom helps businesses meet evolving sustainability requirements with end-to-end sustainability reporting services. We support you from accurate data collection and climate risk assessment to drafting clear, compliant reports using recognised frameworks such as TCFD, ISSB and GRI. We also advise on available funding opportunities from local governments, enabling you to transform sustainability compliance into a strategic advantage that enhances transparency, resulting in investor confidence and long-term value creation.

The Future of BPO is Strategic

As we navigate 2025, it’s clear that BPO is evolving and is no longer about cost savings alone. It is a strategic lever to unlock growth, improve agility and enhance customer experiences.

By partnering with an experienced and integrated provider like BoardRoom, businesses can de-risk their outsourcing strategy while gaining scalable, future-ready capabilities. With technology-driven delivery, regional reach and deep functional expertise, BoardRoom is positioned to help clients thrive in an increasingly competitive global environment.

Speak with BoardRoom today about outsourcing solutions tailored to your growth strategy in 2025 and beyond. Contact us to start planning your next steps.

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Why Family Offices in Asia are Flourishing

Business professionals in discussion, symbolising strategic planning and governance support for family office Asia services.

Why Family Offices in Asia are Flourishing

September 2, 2025September 3, 2025 boardroomsuperadmin

Across the Asia-Pacific, family offices are becoming increasingly popular as high-net-worth individuals (HNWIs) seek greater control, privacy and structure. The rise in interest is being fuelled by economic growth, intergenerational wealth transfers and a growing demand for bespoke strategies that go beyond traditional wealth management.

Once seen primarily as tools for private wealth consolidation, family offices are evolving into strategic vehicles. As awareness grows around the benefits of a family office, Asia is fast becoming a global centre for family office growth. According to McKinsey, there is a boom in family office formation across the region, driven by expanding ultra-high-net-worth populations and more accessible advisory ecosystems. McKinsey’s analysis forecasted that between 2023 and 2030, ultra-high-net-worth (UHNW) and high-net-worth (HNW) families in the Asia–Pacific region are set to experience an intergenerational wealth transfer estimated at $5.8 trillion.

Singapore, with its strong legal infrastructure and pro-business environment, remains a trusted hub. Malaysia, too, has asserted itself with the launch of the Forest City Special Financial Zone (SFZ) in Johor. The new development aims to transform Johor into a regional financial powerhouse, complete with tax incentives and modern infrastructure.

As the demand for tailored wealth strategies grows, more families are asking why a family office in Asia is the right step forward. With deep roots in Singapore and Malaysia, BoardRoom provides local insight to help families understand the value and purpose of establishing a family office in Asia, aligned with their long-term vision and evolving priorities.

The Rise of Family Offices in Asia

Asia is now home to some of the fastest-growing populations of ultra-high-net-worth individuals in the world. In response, family offices are becoming increasingly popular as structured, private vehicles for long-term wealth preservation and investment.

The number of family offices across the Asia-Pacific has grown rapidly in recent years, mirroring a broader shift in how wealthy families are choosing to manage their financial legacies.

What’s Driving This Growth?

One key driver is the scale and speed of wealth creation. Many of Asia’s first-generation wealth creators are now moving businesses or capital to the next generation. These second-generation leaders often seek more governance, strategic planning and professionalisation in how their family’s assets are managed. This has led to a rise in demand for family office services that offer bespoke investment strategies, succession planning and governance structures that can meet diverse family needs.

Another important factor is the growing interest in values-based and impact investing. Younger family members, in particular, are prioritising social and environmental outcomes alongside financial returns. Family office strategy in Asia increasingly includes philanthropy and ESG-aligned portfolios.

Angeline Aw, Group Chief Executive Officer, BoardRoom Group says a sophisticated professional ecosystem is emerging to support this evolution. “From family office advisors to tax consultants and legal experts, the support infrastructure in Asia is maturing quickly. Jurisdictions like Singapore and Malaysia stand out not just for their tax and regulatory environments, but also for their experienced family office consulting professionals and service providers.”

For families evaluating their next move, Asia offers a compelling mix of opportunity, control and regional connectivity. The right jurisdiction (Singapore with its mature landscape or Malaysia and its emerging frameworks) depends on each family’s structure, values and long-term goals.

Business professional reviewing documents with a team in the background, highlighting the strategic benefits of a family office for wealth planning and governance.

Why Set up a Family Office in Singapore?

Singapore has earned its status as Asia’s most established destination for family offices, and for good reason. Its reputation for political stability, transparent regulation and high-quality financial services makes it a natural choice for high-net-worth individuals seeking long-term control and security over their wealth.

A Trusted Environment for Wealth

The Monetary Authority of Singapore (MAS) actively promotes the country as a global wealth management centre. Families benefit from:

a strong rule of law and legal consistency
robust governance standards
a regulatory environment that supports privacy, transparency and flexibility

This legal and regulatory foundation is particularly attractive for families with complex, multi-jurisdictional asset portfolios.

Tax and Structural Benefits

Singapore’s Variable Capital Company (VCC) framework further strengthens its appeal. VCCs are highly flexible corporate structures used for managing pooled investments, and are increasingly adopted by family offices. Benefits include:

confidentiality of shareholders
tax exemptions under certain fund management conditions
operational flexibility for diverse investment strategies

Access to Expertise

Singapore is home to a deep pool of professional services providers, including:

private banks and asset managers
legal and tax advisors
specialist family office consulting firms

This mature ecosystem means families can access the full spectrum of support services – from succession planning to philanthropic structuring – in one place.

Global Recognition

Singapore is also viewed globally as a neutral, credible jurisdiction, which enhances its appeal for families with international footprints.

For families seeking a proven, secure and well-supported base in Asia, Singapore continues to set the benchmark for family office strategy.

Malaysia: A Rising Frontier for Family Offices

As demand grows for more diverse and competitive family office jurisdictions in Asia, Malaysia is stepping forward with an ambitious initiative: the Forest City Special Financial Zone (SFZ).

A Strategic Move to Attract Global Capital

Launched in 2024, Forest City SFZ is Malaysia’s most high-profile bid to attract ultra-high-net-worth individuals, asset managers and global investors. Situated on four man-made islands in Iskandar Puteri, Johor, just across the border from Singapore, the zone spans 30 square kilometres and is part of a US$100 billion smart city development.

Its goal? To become a strategic financial hub in Southeast Asia, offering a flexible, business-friendly environment for family offices and investment entities.

Pro-business Incentives

While full details are still being rolled out, the Malaysian government has already announced several attractive features of Forest City SFZ, including:

preferential tax rates and incentives for qualifying investors, such as 0% concessionary tax rate on income generated by the Single-Family Office Vehicle (SFOV) for an initial period of 10 years, extendable for an additional 10 years, provided higher financial and substance requirements are met
relaxed visa policies aimed at attracting international professionals
streamlined approval processes for financial services and wealth management entities
a regulatory environment focused on fintech, green finance and family office services

These measures are designed to support long-term wealth preservation, family office succession planning and global investment activity in Malaysia.

Opportunity in Timing

Families with regional portfolios, or those already operating across Singapore and Malaysia, may find Forest City SFZ an ideal complementary base. Here’s why:

Forest City SFZ has lower setup and operational costs than other countries in the region
Families will have access to a growing ecosystem of advisors and financial professionals
There is potential for early-mover benefits, including policy flexibility and tailored regulatory engagement

Professional team in a corporate setting, symbolising trusted family office services tailored for high-net-worth clients in Asia.

How BoardRoom Can Support Your Family Office

At BoardRoom, we help high-net-worth families navigate the regulatory, operational, and strategic considerations involved in establishing a family office in the Asia-Pacific region.

With the OneBoardRoom Advantage, our dedicated experts provide an integrated suite of corporate services, supported by a global network of 19 partners, to deliver accurate, compliant, and consistent solutions throughout your family office’s lifecycle.

From incorporation to scale, BoardRoom supports your family office with integrated expertise and a commitment to excellence. We simplify complexity by uniting corporate secretarial, tax, accounting, payroll, share registry, employee share plans, fund solutions and sustainability services into one seamless solution.

“Whether you’re creating a family office or expanding into a new jurisdiction, our integrated services ensure your family office is built on a solid foundation,” says Angeline.

Support During Setup:

Entity incorporation and licensing support.
Corporate secretarial services to meet local regulatory requirements.
Tax planning and structuring, including advice on investment vehicles.
Global mobility tax services to manage cross-border family and employee obligations.
Fund solutions tailored for multi-family offices, to enable efficient pooling of assets and access to institutional-grade investments.

Support After Setup:

Ongoing tax efficiency planning as your investment strategies evolve.
Development of profit extraction strategies.
Support for transfer pricing compliance and regulatory filings.
Full-service payroll, accounting, and corporate secretarial solutions.
Sustainability and Governance Advisory to support long-term resilience and alignment with family office values.

A Strategic, Long-term Partner

Our approach begins with understanding your goals, family structure and investment profile. From there, we tailor solutions and offer ongoing advisory and compliance support that evolves with your needs.

“We continue to monitor your eligibility for tax incentives and apply for relevant regulatory benefits on your behalf,” says Angeline. “We also ensure your governance structures are adapted to support succession planning and cross-generational control.”

With teams on the ground in both Singapore and Malaysia, BoardRoom provides the local insight and regional reach to help your family office thrive.

The Growing Case for a Family Office in Asia: How BoardRoom Can Help

Family offices are fast becoming essential tools for preserving wealth, navigating succession and managing complex, cross-border portfolios in Asia. Both Singapore and Malaysia present compelling opportunities for families looking to establish a presence in the region.

Whichever path you choose, BoardRoom is here to help you start strong, stay compliant and build a structure that supports your family’s long-term goals.

Get in touch today to explore how we can support your family office.

Contact BoardRoom for more information:

Angeline Aw

Group Chief Executive Officer, BoardRoom Group

E: [email protected]

T: +65 6536 5355

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Why Siloed Service Providers are Holding Your Business Back

August 6, 2025August 6, 2025 boardroomsuperadmin

Integrating your corporate services under one trusted provider is not just about convenience. It is a strategic move that drives cost savings, improves efficiency, and frees your team from unnecessary admin. With a unified approach, you reduce duplicated efforts, streamline communications, and gain clearer oversight across your operations.

As businesses grow, it’s common to bring in different corporate service providers to manage key areas such as incorporation, payroll, accounting, tax, company secretarial work and IPO readiness. While each provider may deliver on their specific responsibilities, they often operate independently.

Without clear communication or coordination between these service providers, important details can be missed, and overall visibility can suffer. This disconnection often leads to slow progress, compliance risks and an inability to scale effectively.

The best way to solve these issues is to consolidate services with a single, trusted partner. The OneBoardRoom Advantage is an integrated model that covers everything from corporate secretarial and payroll to tax, accounting, and share registry, aligning all functions to reduce risk, optimise costs, save valuable time and support strategic growth at every stage of your business.

To move toward a more scalable and resilient operating model, it’s important to first understand why fragmentation happens in the first place.

Why Businesses Get Stuck with Fragmented Support

Engaging different specialists for each business function may seem cost-effective, but fragmentation has long-term costs that are often hidden. These include slow progress caused by misaligned processes, duplicated efforts, and a lack of information sharing and increased risks due to critical gaps in oversight.

Companies can find themselves in this position due to a range of reasons, including:

Legacy vendor relationships: Continuing to engage providers without reassessing whether they still meet current needs.
Regional expansion: Onboarding of local providers in each market rather than choosing global partners to work across regions.
Lack of central oversight: Vendor decisions being made in isolation across the business.
Short-term fixes over long-term strategy: Reacting to immediate needs rather than cohesive and strategic planning.

These decisions are often made with the right intentions, but without a long-term view, they can lead to structural inefficiencies that slow growth.

“Business needs evolve significantly as companies grow – from initial setup to regional expansion and preparing for IPOs,” says Angeline Aw, Group Chief Executive Officer at BoardRoom Group. “A service model that worked in the early stages often becomes a limiting factor once you’re managing cross-border teams or investor relations.”

“It’s easy to end up with a patchwork of providers that no longer align with the direction of the business. That’s why it’s critical to regularly reassess your service ecosystem to ensure it continues to support your strategic goals.”

The Hidden Costs of Siloed Service Delivery

Businesses that rely on disconnected service providers often find themselves grappling with more than just communication delays. Often, these can create compliance risks, slow down operations, and make it harder for businesses to respond confidently to growth opportunities.

These issues often remain under the radar until they start to impact performance, and by then, the financial and strategic costs can be considerable.

Compliance Gaps

Siloed service delivery can result in missed regulatory filings, inconsistent record-keeping, and gaps in meeting compliance obligations across different jurisdictions. For example, a business with entities across different regions may overlook local filing deadlines or statutory changes if no one is coordinating updates centrally. This may often lead to penalties or reputational risk during regulatory reviews.

“When providers don’t stay aligned, even routine changes can slip through unnoticed,” says Angeline. “This lack of coordination can lead to avoidable regulatory breaches and reputational damage.”

Operational Inefficiency

Corporate secretarial, accounting, tax, and payroll functions are closely linked, as changes in one area (such as director appointments, payroll costs, or financial data) often impact statutory filings, tax calculations, and reporting deadlines across the others. These functions also rely on shared data and aligned timelines. When these services are managed by separate providers without integration, gaps in coordination can emerge, leading to slower processes and heavier administrative workloads.

During quarterly reporting or compliance reviews, businesses often struggle to compile accurate data across service lines. Differences in formats, submission schedules, or interpretations of requirements can delay decision-making and place additional strain on internal teams.

Lack of Strategic Visibility

When data and insights are scattered across various providers, decision-makers lack a clear, unified view of business performance and risks. For instance, fragmented payroll and tax data can make it difficult for a group CFO to assess consolidated headcount, cash flow, or employment costs when preparing for a board meeting or internal budget review.

“It’s incredibly difficult to plan with confidence when critical information is fragmented across different systems and teams,” says Angeline. “Siloed data prevents leaders from seeing the full picture.”

Scalability Issues

As businesses prepare for events like market expansion, M&A, or IPOs, having a single, unified view becomes crucial. When services are fragmented, decision-makers may struggle to pivot quickly or present a cohesive due diligence narrative.

With one partner managing key compliance and operational functions across jurisdictions, businesses benefit from faster onboarding in new markets, better consistency in reporting, and greater agility in responding to evolving regulatory or investor demands. This reduces duplication, shortens timelines, and improves confidence in strategic execution.

The Strategic Advantage of Integrated Corporate Services

Integration isn’t just about fixing inefficiencies – it’s a strategic enabler that gives leaders the clarity, control, and confidence to make faster, better-informed decisions.

“When businesses transition to integrated services, leaders often tell us it gives them the visibility and control over costs and operational efficiency, enabling them to make faster decisions with greater confidence,” Angeline explains.

Unifying all of your key corporate services via the OneBoardRoom Advantage means:

Single source of truth: This ensures that your operational data is consistent, reliable, and accessible when and where you need it.
Improved compliance and governance: Reduce risk and stay aligned with evolving regulatory requirements.
Greater agility: Be ready for scale, to expand into new markets and to respond to stakeholder demands more quickly.
Cost and time efficiencies: Lower administrative burden, streamline workflows, and achieve greater value through bundled services.

With a single point of contact, your business gains streamlined communication and accountability, no matter how many markets you operate in. With consistent service across regions, tech-enabled compliance, and tailored advice at every stage, integration supports you to stay ahead of regulatory demands and make confident decisions towards growth.

How BoardRoom Breaks Down Silos and Powers Business Growth

Understanding the value of integration is one thing – putting it into practice is another. That’s where the OneBoardRoom Advantage comes in. BoardRoom’s integrated service is built for businesses at every stage, with the ability to add services as your business grows.

“We support the full business lifecycle across governance, finance and payroll – from startup to IPO and beyond,” Angeline says.

Here’s how the OneBoardRoom Advantage supports businesses at every stage of growth:

Inception

Company incorporation, business structure advisory, license applications, payroll, accounting, and tax setup.

Growth

Integrated support across corporate secretarial, accounting, tax compliance, payroll processing, and employee share plan development.

Expansion

Regional and international scalability through multi-country payroll management, corporate governance advisory, multi-entity accounting and consolidation, cross-border tax advisory and planning, and sustainability reporting for listed entities.

Scale

IPO readiness services, post-IPO corporate governance & secretarial support, share registry management, AGM/EGM meeting services and investor relations.

BoardRoom’s cross-border expertise supports businesses as they expand regionally and internationally. Our 850-strong team combines comprehensive Asia-Pacific knowledge and commercial experience to navigate the complexities of multiple jurisdictions while maintaining a single point of contact.

“Our global teams communicate across functions and with our clients, so everyone stays aligned. That means fewer surprises, clearer reporting, and support that actually feels connected,” Angeline says.

BoardRoom is the partner of choice for more than 7,300 companies, including Fortune 500 multinationals, public firms and private enterprises. With a strong track record as a trusted corporate service provider throughout the Asia-Pacific, we bring over six decades of experience in governance, compliance, and business efficiency.

Our experienced professionals, many of whom have been with us for years, offer deep institutional knowledge that fosters stability and enables us to handle complex client needs with confidence. Supported by a lean, agile organisational structure and advanced technology platforms, we consistently deliver responsive, high-quality services that enhance business performance and drive cost efficiency.

Unlocking Growth Through Integration

In a region as dynamic and complex as Asia-Pacific, any slowdown in momentum can quickly turn from inconvenience to risk.

When critical business functions like tax, accounting, payroll, corporate governance and compliance, company incorporation and sustainability reporting are managed by separate providers who don’t communicate, even high-performing teams can be slowed down by rework, missed details, and competing timelines.

Companies that want to move faster and smarter need more than a collection of vendors – they need a strategic partner. A single provider who understands the business’s entire operating environment can deliver coordinated, cross-functional support that aligns with growth.

Ready to streamline your operations and unlock your next stage of growth? Speak with BoardRoom to discover how integrated corporate services can reduce risk, improve visibility, and give you the confidence to lead with clarity.

Contact BoardRoom for more information:

Angeline Aw

Group Chief Executive Officer, BoardRoom Group

E: [email protected]

T: +65 6536 5355

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Case Study: How BoardRoom Malaysia Enabled a Successful ACE Market Transfer Listing for Lim Seong Hai Capital Berhad listed on LEAP Market

July 23, 2025July 23, 2025 boardroomsuperadmin

Client Profile

Our client, Lim Seong Hai Capital Berhad, is a full-fledged construction company offering a comprehensive range of construction and engineering works, construction related services and solutions, property development and facilities management. Underpinned by their BEST Collaboration Framework and through strategic acquisitions, our client has strengthened its position and presence in the construction sector. It was listed on the LEAP Market in July 2021. To accelerate its growth and to prepare the Group to embark on large scale nation building projects, our client sought to transfer their listing from the LEAP Market to the ACE Market of Bursa Malaysia. This move aimed to enhance their brand reputation, access a broader investor base, access to equity and debt market and to unlock greater shareholder value.

Background on LEAP Market

Bursa Malaysia’s LEAP Market is limited to Sophisticated Investors who are deemed to have better knowledge on the potential risk and return of companies listed in this market. Sophisticated Investors include high-net-worth individuals with personal assets exceeding RM3 million or an annual income above RM300,000 (or RM400,000 jointly with a spouse), as well as corporations, partnerships, and trust companies with net assets or managed assets exceeding RM10 million.

To maximise the company’s growth potential and market liquidity of its stock, our client would need to expand its investor base beyond the LEAP Market into the ACE Market.

Challenges and Solutions

To facilitate the listing transfer, our client needed to meet the following requirements:

Regulatory Compliance & IPO Listing Requirements
Transitioning from the LEAP Market to the ACE Market required strict adherence to Bursa Malaysia’s Listing Requirements and the Companies Act 2016. Ensuring corporate governance compliance and regulatory approvals was critical to a seamless listing process. Although our client’s management team possessed the capabilities and expertise to manage the transition with the support from their Investment Bank, a successful IPO demands meticulous documentation and deep regulatory insight.

BoardRoom played a central role in this process by supporting the client’s compliance with the Listing Requirements and Companies Act 2016. This included facilitating orderly board approval processes, conducting meetings, drafting minutes, and ensuring statutory compliance with Bursa Malaysia and the Companies Commission of Malaysia (CCM). In addition, BoardRoom provided ongoing updates on relevant regulatory changes and best practices, along with a full suite of corporate secretarial solutions.

Corporate Governance & ESG Alignment for IPO Listing
Our client had integrated many of the best practices from the Malaysian Code on Corporate Governance into their business operations and company culture. For example, half of the Board comprise of independent directors, and they also maintain 40% female board representation.

Post-IPO, ongoing enhancements remain important. As their company secretary, BoardRoom continues to review and strengthen their corporate governance practices during the preparation of Annual Reports and Corporate Governance Reports.

Investor Engagement and Shareholder Transition for IPO
Shifting from a market limited to Sophisticated Investors to a broader pool of investors on the ACE Market required careful stakeholder coordination. Our client needed to ensure smooth shareholder transitions and maintain investor confidence throughout the process.

BoardRoom has been their share registrar since their listing on the LEAP Market. All their meetings, corporate exercises and share registry matters were handled by the BoardRoom team. With deep familiarity of the company’s shareholder base and end-to-end involvement in their corporate lifecycle, BoardRoom was in the best position to manage their listing transfer to the ACE Market seamlessly. Our Share Registry team facilitated the suspension of existing shares on the LEAP Market and managed the issuance of new share certificates to represent both the existing shareholders’ holdings and the new IPO shares listed on the ACE Market. Throughout the process, we ensured clear, timely and transparent communication with shareholders, providing guidance on the listing transfer, responding to enquiries, and issuing formal notices and updates to maintain investor confidence and minimise disruptions.

BoardRoom Malaysia’s Strategic Support for IPO

With both corporate secretarial and share registry services under one roof, BoardRoom Malaysia delivers an integrated solution for companies preparing to go public. This seamless coordination between the teams helped our client manage critical IPO milestones efficiently, minimising friction, ensuring compliance, and streamlining communication across stakeholders.

Key areas of support included:

Regulatory Compliance & Corporate Secretarial Support

Ensured compliance with Bursa Malaysia’s requirements.
Oversaw board approvals, governance frameworks, and regulatory filings.
Provided guidance on corporate governance best practices.

Seamless Shareholder Transition & IPO Subscription Management

Managed suspension and transfer of shares in coordination with Bursa Malaysia.
Facilitated IPO subscription via BoardRoom’s proprietary BoardRoom Smart Investors Portal (BSIP).
Enabled investor applications through multiple channels to maximise investor reach and participation:

Public investors: They subscribed via Electronic Share Application (ESA) and Internet Share Application (ISA) platforms.
Pink Form & MITI category investors: They used BSIP for seamless application processing.
Issuing House services: BoardRoom handled the basis of allotment and balloting process to determine on the successful application by using our Issuing House system, prior to the allotment of IPO shares.

Key Outcomes

BoardRoom’s integrated approach delivered measurable results across regulatory compliance, shareholder transition, and investor engagement, culminating in a successful and seamless IPO journey for our client:

Strong Market Response
The IPO public share category received an 11.88x oversubscription rate.

Efficient Shareholder Transition
The transfer listing process, initiated in June 2023, was on track and completed by March 2025.

Seamless Regulatory Compliance
BoardRoom ensured our client’s full adherence to Bursa Malaysia’s regulations, avoiding delays and compliance risks.

Enhanced Investor Confidence
The smooth IPO subscription management strengthened trust among investors, and in turn, their brand reputation.

About BoardRoom

850
Dedicated Team Members

BoardRoom offers leading business solutions, including corporate and advisory services, in the Asia-Pacific region. We provide accurate, prompt and reliable corporate solutions for every element of your business.

Over 50
Years of Proven Track Record

BoardRoom takes your business further, faster, at all stages, with an integrated suite of corporate solutions driven by innovation and technology.

7,300+
Clients Globally

Our team of experienced professionals has the comprehensive local knowledge and commercial experience you need to grow your business in the Asia-Pacific region.

Driving IPO Success with BoardRoom

By leveraging BoardRoom Malaysia’s expertise in IPO, corporate secretarial and share registry services, our client, Lim Seong Hai Capital Berhad successfully navigated the complexities of transferring its listing to the ACE Market. With enhanced visibility and access to a wider investor base, they are well-positioned for future growth in the construction sector.

Find out what other companies we’ve supported through their IPO journey.

Looking to IPO or transfer your listing? As an integrated corporate services provider, BoardRoom offer end-to-end solutions to streamline your listing and post-listing compliance.

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