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Singapore, 5 January 2018 – Nexia TS is pleased to announce that it has successfully supported SHC Capital Asia Limited in its Reverse Takeover (RTO) listing on SGX Catalist, effective 5 January 2018. The Company acquired a leading tourism company in Myanmar, MM Myanmar Pte Ltd. As part of the acquisition, SHC Capital Asia Limited has been renamed to Memories Group Limited.
Memories Group Limited resumed trading on the same day with share consolidation of every seven (7) pre-consolidated shares into one (1) consolidated share which was completed on 26 December 2017. Nexia TS was appointed as the Independent Auditor and Reporting Accountant to the Memories Group in respect of the acquisition.
“As the Reporting Accountant for the Memories Group RTO transaction, the Nexia TS team, led by Meriana, has demonstrated their professionalism, responsiveness and timeliness in the preparation of the financial information for the transaction circular. We are grateful to have a dedicated team from Nexia TS.”
Serge Pun, Executive Chairman, Memories Group Limited
“A big congratulation to Memories Group Limited for the successful RTO listing. At the same time, we would like to thank our client for their support and confidence in us for a major engagement such as this. On behalf of the team, we wish Memories Group Limited every success in its next steps.”
Henry Tan, Managing Director, Nexia TS
About Memories Group:
Memories Group is a tourism company in Myanmar that operates an “Integrated Tourism Platform” which synergistically connects all its businesses to provide a seamless, one-of-a-kind experience aimed at creating lasting memories. The Memories Group’s strategy is to leverage on its first mover advantage and further establish its position as a leading tourism company in Myanmar. The Memories Group’s Integrated Tourism Platform comprises three business segments: Hotels, Experiences and Services.
For more details, please visit www.memoriesgroup.com.
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 more than 28,000 professional staff serving our clients at over 650 offices in 115 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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