Finance Ministry Proposal

1. 1
Proposal to “FINCLUSION VENTURES PTE. LTD.”
Celebrating 35 years 1986-2021

2. About us
We are a medium-sized chartered accountants firm in Singapore founded in 1986. Paul Wan, our Managing Partner,
was formerly working with one of the "big-four" accounting firms and is a Chartered Accountant (England & Wales)
by qualification. Our firm, Paul Wan & Co., has a team of qualified and well experienced accountants including
some formerly working with the "big-four".
Our firm is one of the top 50 firms in Singapore. There are approximately 600 accounting firms in Singapore. We
have experience in handling a wide range of services including auditing, taxation, due diligence, feasibility study,
consultancy and corporate advisory/ finance work, for a broad portfolio of clients (including subsidiaries of foreign
listed companies) in various industries and. Approximately 70 per cent of our clientele are foreign companies and
listed companies.
Paul Wan & Co in 1992 joined the worldwide accounting group - Morison International (MI), which is now known as
Morison KSi. Morison KSi is a result of a merger in 2016 of two leading associations, Morison International and KS
International to form a US$1 billion strong international association. With its headquarters in the United Kingdom.
Our founder, Mr Paul Wan is the Global Chairman of Morison Global, the first Asian to lead the international
accounting group.
(Morison KSi rebrands to Morison Global in October 2021)
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Celebrating 35 year
1986-2021

3. 3
International network
Morison Global, with members in over 75 countries, we are truly global. From well-established market leaders
in key economic centres to dynamic, young, forward-thinking firms in newly developed markets – Morison
Global is a rich, diverse and dynamic community able to meet complex global client requirements.
Our objective is to provide our members and their clients comprehensive access to high-quality professional
services in key markets around the world. Our global reputation brings trust and confidence to the markets in
which we serve.
Our firms are leaders in their professional communities. They aim to constantly improve their firms and
strengthen their clients’ position. We are proud of our community’s culture: supportive, inclusive, professional
and always friendly.

4. Paul Wan & Co
Jan 2022

5. Morison Global: At a glance

6. Paul Wan
Chair of Morison Global
Kenny Young
CEO
Professional career spanning almost 30 years with proven
strategic leadership, business development and growth
achievements, and quality technical excellence, including 15
years with Deloitte, 9 years as partner.
Extensive experience working with business leaders and
entrepreneurs as they respond to shifts in the marketplace
and transitions within their organizations.
Led in the establishment and development of a
sustainable professional practice (Paul Wan & Co.) from
scratch, in a fiercely competitive environment, to be
among the top 2% of professional accountancy practices
in Singapore.
Chair of Asia Pacific region since its establishment in
1992. Board member of Morison KSi (successor to MI)
since 2001. Elected Chair of Morison KSi in September
2020.
(Morison KSi rebrands to Morison Global in October 2021)
Who we are: Chairman, Vice-Chairman and CEO
Mark Baran
Vice-Chair of
Morison Global

7. Morison KSi
Africa
Board of Directors
Morison KSi
Asia Pacific
Board of Directors
Morison KSi
Europe
Board of Directors
Morison KSi
Latin America
Board of Directors
Morison KSi
North America
Board of Directors
Global Executive Office (GEO)
Morison KSi International Board of Directors
Paul Wan
Chair of
Morison KSi
Mark Baran
Vice-Chair of
Morison KSi
Stephen Chang
Independent
Director
Ashvin Gokhool
Chair of Morison
KSi Africa
Marco Patrizi
African
representative
Sandra Ataman
Chair of Morison
KSi North
America
Jeff Singer
Chair of
Morison KSi
Europe
Ignacio Cavallero
Chair of Morison KSi
Latin America
Harsh Bhuta
Chair of Morison
KSi Asia Pacific
Who we are: Morison Global Board

8. 8|
We are a leading global association of high-quality professional service firms. Underpinned by our values, we
collaborate to serve the cross-border accounting, auditing, tax and consulting needs of our members’ clients.
Ranked 10th International Alliance & Association 2021
About Morison Global
318 offices
150 member firms in more
than 75countries.
11,308total staff
Turnover 978 million

9. Building Better Business Globally
Globally
We are a leading global association of high-quality professional services firms. Underpinned
by our values, we collaborate to serve the cross-border accounting, auditing, tax and
consulting needs of our members’ clients.
Our Vision
Experience. Providing an experience that is different, inclusive of our combined talents,
adaptive and embracing to our ever-changing landscape - to offer this experience not only
with our clients but with our employees.
9|

10. Our Public listed and selected MNC clients
A Listed companies on Singapore Exchange
1) TrickleStar Limited
2) TTJ Holdings Limited (Internal Audit)
3) Casa Holdings Limited (Internal Audit)
B Listed companies on other Stock Exchanges
1) Triterras Fintech (Listed in USA)
2) A Singapore Cleaning service provider Group, preparing IPO submission to list in USA Nasdaq
C Multi-National companies
1) Celeste Holding Group (in total 20 Singapore companies, their holding company, Libera Corporation, Japan is related to Mitsui Shipping group, Japan);
2) D-link International Pte Ltd (a subsidiary of D-Link, listed on Taiwan Stock Exchange);
3) Mache Restaurants Singapore Pte Ltd (a subsidiary of Mövenpick Group, Switzerland);
4) JSP Foam Products Pte Ltd (a subsidiary of JSP Corporation, listed on Tokyo Stock Exchange);
5) Chinese Maritime Group (a leading Taiwanese Shipping group with nine companies listed on the Taiwan Stock Exchange);
6) TCC Shipping Group (in total 15 Singapore companies - one of the largest shipping group in Hong Kong with sixteen companies which are related to Hong
Kong ex-Chief Executive, Mr Tung Chee Hwa's family shipping group);
7) Kogen Singapore Pte Ltd (a subsidiary of Koryo Electronics Co. Ltd, listed in Taiwan Stock Exchange);
8) Singapore Hagiwara Pte Ltd (the Holding company is Hagiwara Electric Co. Ltd, listed on JASDAQ)
9) RenoSola Singapore Pte. Ltd (the Holding company is RenoSola Ltd, listed on both Alternative Investment Market of the London Stock Exchange (“AIM”)
and on the New York Stock Exchange);
10) World Tanker Group (in total 11 Singapore companies, the Holding company is Cyclops Ships Ltd)
11) Lautan Luas Group (a subsidiary of PT Lautan Luas Tbk, listed on Indonesian Stock Exchange);
12) Convey Global Pte. Ltd. ((a subsidiary of Mobile Embrace Limited, listed on Australian Securities Exchange);
13) VHQ Post (S) Pte Ltd (a subsidiary of VHQ Media Holdings (Cayman) Pte Ltd, listed on Taipei Exchange); and
14) Civil Service Club
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11. Clients that we have served over the last 35 years
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12. Our Proposal
Our audit will be carried in accordance with Singapore/International Standards on Auditing includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. The audit also includes assessing the accounting
principles used and significant estimates by the Management, as well as evaluating the overall financial statement
presentation. Management letter will be issued to inform the Management of all the significant deficiencies in control (if any)
identified during the audit.
Based on the information furnished, we are pleased to advise our professional fees excluding disbursements and GST as follow:
Statutory audit for the financial year ended 31 August 2021 - S$5,500
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13. Our Services
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AUDIT & ASSURANCE
STATUTORY AUDIT, FORENSIC
AUDIT, INTERNAL AUDIT,
GLOBAL AND LISTED COMPANY
AUIDT
TAX
CORPORATE INCOME TAX, GST,
PERSONAL TAX, ADVISORY FOR
EXPATRIATE
ADVISORY
CORPORATE ADVISORY,
CORPORATE FINANCE, CROSS-
BORDER IPO, FORENSIC
ACCOUNTING, M&A, RISK
ADVISORY
OUTSOURCING
FINANCIAL MANAGEMENT AND
OUTSOURCING

14. Your engagement team
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Paul Wan ( Client partner)
Mr. Paul Wan is a Fellow Chartered Accountant of the Institute of Chartered Accountants (England & Wales) and is a
practicing member of the Institute of Singapore Chartered Accountants (ISCA). Formally, he has also served on Singapore-
government linked companies (GLC) as independent directors. Mr. Wan has been in practice for 37 years, inclusive of
working with KPMG, and has handled major audit assignments of both private and public listed companies including IPO
work in various industries. He has extensive experience in banking, oil and gas, shipping and the hospitality industries.
Mr Paul Wan is also the Global Chairman and Board of directors of Morison Global.
Chairman of Morison Global
Wee Yeak Ing ( Senior Assurance Partner)
Yeak Ing is Fellow member of ACCA (England) and is a practicing member of the Institute of Singapore Chartered
Accountants (ISCA). She has over 25 years in audit and assurance, serving clients in various industries ranging from
multinational conglomerates to high net worth public and private organisations, including IPO on Singapore and oversea
market. She has also experience as consultant on financial due diligent, leading the success of IPO, including implement of
firm internal control procedure, SOP, policy and procedure, ERM, cash flow management, group financial reporting system
etc. She was instrumental in helping many SME develop their business and expand into the Asia pacific region, and
instrumental in the development of our IPO services in Singapore and oversea.

15. Visit us at
www.pwco.com.sg
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CREATING
OPPORTUNITIES
CREATING
VALUE
REDEFINING
EXCELLENCE
CREATING A
DIFFERENCE