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Singapore, 4 June 2019 – Nexia TS is pleased to announce that it has successfully assisted apparel contract manufacturer, KTMG Limited, in its listing on Singapore Exchange (SGX) Catalist Board on 13 May 2019. Market capitalisation amounted to S$33.9 million in total.
As the appointed Internal Control Advisor, the firm’s Risk Advisory Team reviewed the adequacy of internal controls in place at KTMG in preparation for the Reverse Takeover (RTO). The listing marks a significant milestone for the manufacturer to enhance its access to capital markets for regional and upstream expansion. Future plans also include increasing current production capabilities and setting up research and development teams to develop new techniques and processes.
Mr Chew Chong Kiat, Chief Operating Officer, KTMG Limited said, “Nexia TS reviewed the internal controls of KTMG, as part of pre-RTO requirements. The review was conducted professionally and useful recommendations for improvements were brought up. The team worked very hard and was able to deliver the review report within a short timeframe.”
Mr Henry Tan, Group CEO and Chief Innovation Officer, Nexia TS said, “We are glad to be part of KTMG’s significant milestone and successfully fulfilled our professional responsibilities as the pre-RTO internal control advisor. Our strong presence across Asia enables us to understand the uniqueness of each business, and how we can further assist KTMG in its upstream expansion plans beyond its Malaysian shores.”
About KTMG Limited
KTMG Limited (“KTMG” and together with its subsidiaries, the “Group”) is a contract manufacturer of apparels, with more than 30 years of experience in the industry. It specialises in manufacturing nightwear, lounge wear, casual wear and plus-sized apparel for various ages. With facilities located in Malaysia and Cambodia, KTMG manufactures apparels that are exported to retailers in the European Union, United States of America and Canada that sell apparel products under their own brands.
In 2019, KTMG expanded upstream into the knitting, dyeing, finishing and printing of fabric with its very own fabric dyeing facility in Malaysia. Together with its co-creation business model, which allows the Group to collaborate closely with customers on the product initiation process, KTMG is able to offer customers a one-stop, value-added platform, by giving them the right product at the right time and at the right costs.
About Nexia TS:
Nexia TS was founded in 1993 by two experienced chartered accountants – Henry Tan and Sitoh Yih Pin. After working as managers for one of the international accounting firms, they saw a vision and an opportunity to establish their own organisation – not any accounting firm – but one which is unique in their personalised and well-qualified expertise.
To date, Nexia TS is recognised as an established mid-tier local accounting firm. We have grown significantly in size over the years. Being an independent member firm of Nexia International, we are affiliated to accounting firms in many parts of the world. This means that our clients will get to enjoy personalised, comprehensive and quality services at competitive rates in Singapore and globally. Our reputation for quality has been recognised by clients and accounting professionals. As testimony to this, we are among the first few local accounting firms to be accredited by the Institute of Chartered Accountants in Australia to provide supervision of professionals undergoing traineeship to qualify as Chartered Accountants.
Headquartered in Singapore, Nexia TS has established a strong presence in various countries across the region. Nexia China is a one-stop centre providing advisory services for foreign-invested enterprises in China. NTS Malaysia and NTS Myanmar provide a full suite of corporate advisory services for our clientele with operations and new foreign investments in the respective countries.
Nexia International is an international network of accounting and consulting firms with origins going back to 1971, making Nexia International one of the longest established networks. Currently, with 32,000 staff serving our clients at 710 offices in 120 countries, it is ranked as the top 10 largest international accounting and consulting network.
For more details, please visit www.nexiats.com.sg
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