Media Information news and reviews
Listen to our Group CEO, Kim Teo, in this open and honest interview with radio host Shou Ning from BFM 89.9 – The Business Station. They talk all things from the impact of technology on our industry to our recent merger of BoardRoom Malaysia with Symphony House companies.
SINGAPORE, 16 July 2018 – SGX Mainboard-listed Boardroom Limited (or “Boardroom”) a leading provider of corporate business solutions across Asia-Pacific, announced today that it has entered into a conditional share sale agreement with Symphony House Sdn Bhd (or “Symphony House”) on 13 July 2018 for the proposed acquisition of (i) Symphony Corporatehouse Sdn Bhd, and its subsidiary Sky Corporate Services Sdn Bhd, (ii) Symphony Share Registrars Sdn Bhd and (iii) Malaysian Issuing House Sdn Bhd (the “Symphony House Subsidiaries”) for a total consideration of RM164.14 million (approximately SGD55.64 million) (the “Aggregate Consideration”) from Symphony House Sdn Bhd (the “Proposed Acquisition”).
The Proposed Acquisition is subject to further approval from the relevant authorities as well as the fulfilment of the terms and conditions as set out in the share sale agreement. Approximately 75 per cent of the Aggregate Consideration will be paid in the form of the Cash Consideration while approximately 25 per cent of the Aggregate Consideration will be paid in the form of the Consideration Shares.
Further to the successful completion of the Proposed Acquisition, Symphony House Sdn Bhd will retain an interest in the business through its approximately 7.63 per cent stake in Boardroom Limited. Dato’ Abdul Hamid Sheikh Mohamed will remain as a Group Executive Director of the Symphony House Subsidiaries.
The Proposed Acquisition will provide both Boardroom and Symphony House with further opportunities for growth. By leveraging Boardroom’s well-established regional footprint, the merged entities will have the opportunity to substantially strengthen their position in Malaysia and business network across the Asia-Pacific.
Mr Goh Geok Khim, Non-Executive Chairman, Boardroom Limited, commented: “We are especially honoured to have the support of Tan Sri Mohamed Azman Yahaya and Dato’ Hamid. It is a true vote of confidence in Boardroom to have both highly-regarded industry leaders to join us in this strategic partnership. We have a shared vision to steer Symphony House into new areas of growth by way of expanding their geographical footprint across the region and enhancing our shared offerings through the combined capabilities and resources.”
Mr. Kim Teo, Group Chief Executive Officer, Boardroom Limited, commented: “We are delighted to have the opportunity to combine the Malaysian corporate services operations of Boardroom and Symphony House. This is a mutually beneficial partnership for two highly complementary and well-established businesses. With the combination of more resources and expertise, we will be able to provide a stronger service offering and deliver more value to our clients. We look forward to working together to meeting all our clients’ needs and facilitating our growth as a leading player in the share registry and corporate services industry in the Asia-Pacific.”
Dato’ Abdul Hamid Sheikh Mohamed, Group Executive Director, Symphony House, commented: “Boardroom provides an immediate entry point and springboard for Symphony House into the regional markets with its established network across the Asia-Pacific. It serves as an excellent platform for us to further expand our geographical reach beyond Malaysia. This transaction presents a win-win situation for both parties as we can leverage each other’s expertise and resources to enhance our service offerings for our clients.”
For media enquiries, please contact:
Kymberlie Chong
Boardroom Limited
kymberlie.chong@boardroomlimited.com
In 2016 BoardRoom featured in an article written by and published in the Business Times in Singapore. In this article our Group CEO Kim Teo was interviewed on his thoughts on a digital future within the corporate and advisory services space. He touches on topics like Virtual AGMs, voting and proxy forms being submitted on-the-go via smartphones and the impact of digitalisation on business productivity.
Read the full article of “Gearing up for a digital future” by Business Times here.
We are pleased to announce that BoardRoom Limited is authorised as an ICAEW Authorised Training Employer with effect from 9 May 2014.
ICAEW Chartered Accountants (with professional designation ACA) are recognised around the world as leaders in accountancy, finance and business. The ACA qualification, one of the most advanced learning and professional development programmes available , integrates technical knowledge, professional skills and practical experience to allow talented individuals to perform at the highest level. BoardRoom, being a Professional Services Company with presence in the region (ie. Malaysia, Hong Kong, China, Australia), is desirous in attracting and retaining talented individuals by partnering ICAEW in their ACA training program.
From 1 January 2015, the CPF contribution rates for all employees will be increased to help them save more for retirement and healthcare needs.
The increase in the CPF contribution rates does not apply to the graduated employer and employee rates for first or second year Singapore Permanent Residents (SPR) and their employers.
Find out more information below.
