About
Our Expertise in SWAG LLP
SW Alliance Group (SWAG) LLP, a prominent CPA firm established on November 28, 2024, specializes in providing a comprehensive range of financial services. Our expertise includes audit, taxation, accounting, corporate secretarial, mergers and acquisitions, insolvency, CFO support, valuation, and business advisory. We cater to individuals, sole proprietorships, partnerships, companies, and all business entities, offering bespoke solutions to meet their unique financial needs and objectives.
Team
Meet Our Experienced Practitioners
DAVID LEE
Partner, Tax Advisory
CEO, SWAG
·Bachelor of Accountancy, National University of Singapore (1981)
·Fellow of the Institute of Singapore Chartered Accountants (up to 2018)
·Board Director of the Singapore Institute of Accredited Tax Professionals Limited (2011- Aug 2014)
·Accredited Tax Advisor (Income Tax & GST), SCTP
·Partner, Tax at KPMG Advisory LLP (Oct 1996 – Sep 2014)
·Director for EMR Capital companies in Singapore and for S3T Pte Ltd (until 2023)
·Head of Tax at SW Advisory Pte Ltd (current)
Sector Experience
•David has been involved in a broad array of industries, heading tax projects that included mergers, acquisitions, joint ventures and investments in various countries in the region. Notable mergers included the Temasek Holdings subsidiary groups i.e. the Singapore Technologies Group (internal restructuring of various ST groups e.g. ST Engineering, ST Electronics, ST Properties, ST Holdings etc.). Tax and lead partner for merger of listed company Sembcorp Industries Ltd (merger of ST Industrial Corporation and Sembawang Corporation) and Capitaland (merger of Pidemco Land and DBS Land). Tax and lead partner responsible for the privatization of JTC operating arms (Ascendas Science Parks and Jurong Port) and the spin-off of the M&W Zander Engineering group with the intention of listing in Singapore.
•Tax lead partner for the acquisition of 117-year-old Raffles Hotel, along with 40 other hotels and properties worldwide by US-based investment fund Colony Capital LLC for S$1.72 billion (US$1 billion), including debt. David was also the global tax lead partner for the global merger and restructure of the Raffles, Swissotel and Fairmont chains appointed by Colony Capital. This assignment involved tax structuring and alignment of all acquired hotels under the group in parts of Asia, Europe, Canada and the US. Tax partner responsible for initiating the entry of Aberdeen Asset Management and the subsequent collective investments funds into the Singapore funds market in 1992.The company was the largest active asset manager in the UK, with investments in equities, multi-asset, fixed income, liquidity, sovereign wealth funds, real estate and private markets
•David has practitioner experience of over 40 years in Singapore and international taxation. His extensive tax experience in local taxation includes Corporate and Business Income Tax, Withholding Tax, Tax Incentives, Tax Audits, Personal Income Tax, Transfer Pricing, Goods and Services Tax and Stamp Duty. His experience spans both the tax compliance and advisory aspects of taxation, from the filing of tax returns to the structuring of cross border transactions and entities.
•David has been the Asia Pacific tax head for Brown & Root and Halliburton. Prior to that he was the regional tax accountant for BJ Services and Hughes Tools FE Pte Ltd.
•In his capacity as tax partner at KPMG, he has had extensive involvement with a diverse portfolio of clientele both local and global, and from a broad spectrum of industries that included oil and gas, insurance, fund management, growth funds, private equity funds, shipping, shipbuilding, construction, port, power, telecommunications, manufacturing, hotel, trading, services and investment companies.
•His clientele included, global multinational companies, government linked enterprises, private enterprises and publicly listed companies. In the course of his work he has had ongoing interactions with government agencies including IRAS, MAS, IE (now ESG), EDB, MPA and Spring (now ESG).
Other Capacities
•David was one of the founding Board Directors of the Singapore Chartered Tax Professionals and was extensively involved in its constitution, operations and strategic directions until stepping down in Sep 2014.
•As a tax partner in KPMG, he was part of the senior management team that was responsible for the day-to-day and the strategic direction of the tax function. The key appointments in his career with the firm included positions as Head of Corporate Tax, Supply Chain, Mergers & Acquisitions, Insurance, Risk Management, Training and Technical Resources.
•He is contributing author on “Insurance Operations” in the 1st and 2nd editions of “The Law and Practice of Singapore Income Tax” and the primary author for Taxation of Insurance Business in Singapore (2015) as published by Lexis Nexis.
•He was also appointed by the Inland Revenue Authority of Singapore in conjunction with its internal advance training programme, as mentor to its senior specialist (2015 to 2016).
AI SZE YIN
Consultant / Associate
Chartered Accountant (SG)
Sze Yin graduated from National Technological University (NTU) and has more than 20 years of professional experience covering audit and assurance services to Singapore listed companies (SGX), multinationals/ large corporations, overseas funds (IFRS/US GAAP) and emerging companies across a wide array of industries. She has been actively involved in accounting advisory and financial due diligence for merger and acquisition transactions. Sze Yin currently sits on the board of Meyzer Group advising on its venture investments.
Experience
•Previously a principal inspector in Accounting and Corporate Regulatory Authority (ACRA), Practice Monitoring Department
•Represented ACRA and Singapore in overseas meetings with international and regional regulators
•Led audit teams for successful listings of NASDAQ and SGX companies
•Led SOX 404 reviews of major US, European and Japanese MNCs
TOH KIM TECK
Consultant/Associate (Assurance)
Chartered Accountant (Singapore)
Kim Teck is an audit partner with more than 30 years’ experience in the profession. He is responsible for co-ordinating audits and other related services such as due diligence to a diverse portfolio of clients, including listed companies and privately held businesses. Kim Teck’s extensive expertise in this area includes SOX audits, quarterly US GAAP review engagements, and statutory audits of foreign entities in the Asia Pacific region. He is also involved in special engagements, due diligence, and other ad-hoc investigations. He enjoys working with his clients in delivering business information that empowers decision making.
Prior to joining the firm, he was with KPMG for more than 12 years where he was seconded to the Silicon Valley of KPMG LLP on an international rotation programme from September 2000 to March 2002, and in a mid tier firm with deep experience in Chinese owned companies.
CHAN SIEW TING
Consultant/Associate (Assurance)
Chartered Accountant (Singapore)
Siew Ting has more than 20 years of professional experience and has worked with an international accounting firm covering audit and assurance services to Singapore listed companies (SGX), multinationals/ large corporations, and emerging companies across a wide range of industries. Her expertise includes assurance services for public listed companies, multinational companies, small and medium enterprises and non-profit organisations. She covers a wide range of industries which include recycling and renewable waste disposal, trading, manufacturing and construction, property developer, entertainment, service and shipping. She has also been involved in IPO projects where the firm functions as reporting accountants
KAM WENG LEONG
Consultant/Associate
. Bachelor of Business Administration (Honours) NUS
. Chartered Financial Analyst
. Investment banker
•Weng Leong built a career in corporate finance, mergers & acquisitions and private equity before embarking on an entrepreneur journey in corporate secretarial and outsourced accounting.
•Co-founder and partner of Grof Services Pte Ltd. Started the business by acquiring a small corporate secretary business, rebranded as Grof, and operated as its CEO, over the past 5 yrs growing the revenue by 20x.
•6 yrs as a private equity small-cap growth and leveraged buyout investment professional with a global investment firm The Riverside Company and EDBI, a strategic Sovereign Wealth Fund of Singapore.
•6 yrs as an investment banker where he started his professional career.
•Graduate with Bachelor of Business Administration (Honours) from the National University of Singapore.
•Completed all 3 levels of Chartered Financial Analyst
JASON LIM
Consultant/Associate
. Chartered Accountant (Singapore)
. Fellow of the Association of Chartered Certified Accountants.
•Jason started his career as an accounting profession with KMPG Singapore, focusing on statutory audits of banks, funds and regulated financial institutions.
•His clientele includes banks with headquarters in England, Germany, Japan, and South-East Asia. His key client includes a UK bank with a strong retail and corporate banking presence in Singapore.
•Part of a founding team in a Chinese state-bank investment conglomerate with a capital of USD 2.6billion. Jason started off with with the finance team, gradually venturing into portfolio management and business compliance. Key investment portfolio included a US-based reinsurance company which was listed in Nasdaq subsequently, and a regulated insurance company with strong footprint in major South-American markets
•At Grof, Jason heads the service team, leading a group of professional secretaries and accountants to provide corporate services to 1,000 business in Singapore and Malaysia.
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•Jason is a Fellow Member of Association of Chartered Accountants (FCCA) and Member, Institute of Singapore Chartered Accountants (CA Singapore)
LUCAS TRAN
Partner (Assurance)
Head of Corporate Governance
Lucas is responsible for all services of WLT.
With a career spanning 4 decades, Lucas is a trusted name in the accounting industry. He is well qualified to deliver the solutions you need for your business growth. Before WLT, he was a partner in KPMG until his early retirement in 2020. His extensive experience covers a wide array of industries from investments to construction, manufacturing, trading and properties of both private and listed companies. He has assisted companies in IPO, RTO, M&A and other capital market transactions. He has also advised companies in restructuring and structured transaction arrangements. Coupled with his experience sitting on various boards of companies and regulatory committees, his advice are balanced and practical.
While at KPMG, Lucas was the partner who worked extensively on Temasek and Temasek-linked companies. Lucas sits on the Boards of Olam, Seviora (both Temasek owned) and Singapura Finance and served in various committees (having been the former deputy chair of ACRA’s technical advisory panel and a member of the SGX listing disciplinary and appeal committee).
DENNIS ONG
Partner (Assurance)
Dennis has been in public accounting for about 20 years. He has extensive experience in financial reporting.
Dennis started his career with KPMG before leaving in 2011 as a manager. He obtained his practising license in 2015 and joined WLT in 2022.
His professional audit experience covers a portfolio of public and privately-owned companies from various industries including manufacturing, education, shipping, construction, salvage, trading and retail. Dennis has also performed work relating to restructuring and financial due diligence reviews.
JAYDEN TAN
Partner
Jayden started his accounting career with PwC before leaving as a senior manager to join an international consulting firm. He joined WLT in 2022.
His client portfolio comprises various public and privately-owned companies from various industries, including fund management, real estate, investment holding, technology, info-communication, semiconductor, manufacturing, trading and retail.
Jayden is experienced in financial reporting and SOX reporting. He has also undertaken work relating to valuation, internal audit and enterprise risk management.
HENG WEE KOON
PARTNER, Head of Business Advisory, SWAG
MBA, Nanjing University of China 中国南京大学工商管理硕士
Bachelor of Business Administration (Hons), National University of Singapore，新加坡国立大学工商管理学士
Chartered Financial Analyst (“CFA”) 特许金融分析师
Senior Accredited Director (awarded by Singapore Institute of Directors)
• Wee Koon is the Executive Director of Acelyr M&A Pte Ltd and Acelyr Advisory Pte Ltd. He is currently the Lead Independent Director, Audit Committee Chairman and member of the Nominating Committee and Remuneration Committee of Hyphens Pharma since its IPO on the Singapore Stock Exchange Catalyst board in May 2018. in August 2024, Hyphens Pharma won the Best Managed Board award for market cap below SGD300m at the 19th edition of the Singapore Corporate Awards. He was the Senior Advisor to a leading Japanese boutique M&A firm specializing in SME deals and which is listed on the Tokyo Stock Exchange. He assisted in the firm's expansion into Singapore, Malaysia and Thailand.
•Wee Koon was previously a partner at KPMG Singapore in the Transaction Services department specializing in due diligence and other M&A related advisory services. He has extensive regional exposure having conducted projects in Singapore, Malaysia, Indonesia, Vietnam, Philippines, India, US, Korea, China, Korea, Saudi Arabia and France. In particular, he has conducted projects in various parts of China including Beijing, Shanghai, Shenzhen, Chongqing, Chengdu, Nanning, Fuzhou, Ningbo, Changchun. He has assisted various local and foreign companies such as Temasek, Keppel, Singapore Technologies group, Manila Electric, Sumitomo Life, Hitachi Infrastructure, Amundi, Great Eastern as well as key Chinese clients such as Sinochem, Alibaba, China Merchant, Vanke etc. Some of his key projects include: - Provided high level due diligence on China Everbright's China water treatment related business/assets in the RTO of Hankore listed in Singapore - Provided due diligence assistance to China Merchant Asia Pacific in relation to its RTO in Singapore via the injection of various toll roads in China - Provided due diligence assistance to Alibaba in its investment into Singapore Post - Provided due diligence assistance to Sinochem in its acquisition of a rubber company in Singapore as well as its investment into an European group with various plantation assets in Africa - Provided due diligence assistance to Manila Electric in its acquisition of Island Power in Singapore - Provided due diligence assistance to Sumitomo Life in its investments into Baoviet in Vietnam and PT BDNI Life in Indonesia
•Whilst at KPMG, he was also tasked to setup a vendor assistance team to provide sell side support services and his team assisted in the successful divestment/fund raising of more than 10 Singapore small and medium size companies in various sectors
FANG LEE WEI
DIRECTOR
.Bachelor of Accountancy (Hons), Nanyang Technological University, Singapore
. Masters of Commerce (International Business), University of New South Wales, Australia
•Lee Wei is the Executive Director of Acelyr M&A Pte Ltd and Acelyr Advisory Pte Ltd. She has about 28 years of finance and consulting experience gained with SGX listed companies and large corporation across various industries as well as EY.
•She started her career in EY across both audit and advisory departments where she was involved in financial due diligence, valuations, corporate restructurings, etc.
•Previously, Lee Wei was CFO at a large oil refinery in Singapore. Besides overseeing finance and tax matters, corporate secretarial and corporate insurance are also under her purview.
•Prior to this, Lee Wei was CFO at Hyphens Pharma for 12 years and led the company to IPO in 2018. She led the Finance, Investor Relations, Supply Chain and Digital Transformation functions.
•Throughout her career, Lee Wei had been actively involved in business strategy, FP&A, M&A transactions, post-acquisition integration, fund-raising and securing government grants.
•Besides handling operations in Singapore, Lee Wei also has exposure to businesses in China, Malaysia, Indonesia, the Philippines and Vietnam during her stints at various listed companies.
•Outside of work, Lee Wei had volunteered on the Board of the National Arthritis Foundation for 9 years. In her last term, she was the Treasurer, Chair of Finance Committee and a member of the Nominating Committee. In the past, she had been the Chair of the Audit & Risk Committee.
. Member of Institute of Singapore Chartered Accountants
. Member of Singapore Institute of Directors
NEO BAN CHUAN
CONSULTANT (SWAG)
. Masters in Professional Accounting
. Masters in International Business
. Chartered Accountant Singapore
. Registered Company Liquidator in Singapore
Background and Experience
Ban Chuan is a retired partner at KPMG and was its Head of Restructuring. He is a Public Accountant and a Licensed Insolvency Practitioner in Singapore. He has been in the Restructuring/Insolvency business for about 40 years and has been involved in the overall conduct of numerous formal insolvency assignments. He is one of the most senior insolvency practitioners in the Asian region and is intimately familiar with the legislative and regulatory requirements expected of such assignments across multiple jurisdictions including Australia, Costa Rica, China, Europe, Honduras, India, Indonesia, Malaysia, Myanmar, Middle East, Thailand and Vietnam. He is a well-regarded personality in the Insolvency practice circle and was featured in a Channel News Asis television interview on judicial management and other forms of insolvency administration. He has also been accredited with the successful restructuring of numerous cross border assignments involving distressed businesses in the region. His experience has been in the Trading, Manufacturing, Shipping, Hospitality and Property sectors.
Directorships
• Arrow Business Consultants Pte Ltd (Managing Director)
• BC Neo Business Advisory Pte Ltd (Managing Director)
• Manulife (Singapore) Pte. Ltd. (Independent Director): retired
Past Directorship in listed companies
• UMS Holdings Limited
• Teledata (Singapore) Limited
•Tuan Sing Holdings Limited
•Trek 2000 International Limited
Membership and others
Fellow of Insolvency Practitioners Association of Singapore
Fellow Member of CPA Australia
Member of Institute of Singapore Chartered Accountants (ISCA)
GAN HWEE LENG
PARTNER, Head of Tax SWAG.
·Bachelor of Accountancy (Honours) from National University of Singapore, Singapore
·Master’s in Public Administration/International Tax Programme from Harvard University, USA·
Curriculum Vitae
·Hwee Leng is a partner in AEP LLP, a tax consulting firm. She retired as a partner of the Indirect Tax Practice KPMG in 2022 and remained a consultant with KPMG to September 2024.
·She has experience in Goods and Services Tax (GST) matters, both as a regulator and as a business adviser.
·She has assisted businesses in responding to audit queries from the Inland Revenue Authority of Singapore (IRAS), resolving disputes, seeking tax rulings, Assisted Self-help Kit (“ASK”), and advising businesses of their GST process controls in connection with the Assisted Compliance Assurance Programme (“ACAP”) launched by the IRAS.
·Hwee Leng advises businesses across a wide range of industries including financial sector, insurance, manufacturing, real estate, retail, energy, hospitalities, shipping, logistics, life sciences and statutory boards.
·Prior to KPMG, she has been with the IRAS for 15 years as a senior tax officer. During her tenure in the IRAS, she was involved in tax policy matters on GST as well as corporate tax, advance income tax ruling, international taxation, transfer pricing and tax treaties.
·Hwee Leng was part of the GST implementation team in the IRAS. She was involved in the drafting of the various circulars on the operation of GST, the GST legislation, schemes for businesses and the marketing of GST to the public and businesses and audit of businesses.
·She represented KPMG to attend the OECD Technical Advisory Group / Business and Industry Advisory Committee meetings and was a member of the KPMG Global Indirect Tax Services Policy Group.
·Hwee Leng is a trainer at the Singapore Tax Academy for many years and also a regular speaker at tax seminars.
·She is one of the contributors of the Goods and Services Tax – Law & Practice, 2nd edition and a co-author of “Taxation of Insurance Business in Singapore – Direct and Indirect Taxation”, both published by Lexis Nexis.
·Hwee Leng was recognised as one of the leading tax practitioners by the International Tax Review in the last few years, published in the Indirect Tax Leaders Guide. She was also recognised as one of the leading women tax practitioners by International Tax Review in 2021 and the past few years.
Membership
Fellow of the Institute of Chartered Accountants in England and Wales
·Member of the Institute of Singapore Chartered Accountants
·Accredited Tax Advisor (Income Tax & GST), Singapore Institute of Accredited Tax Professional
NG EE THENG
Partner, Goods and Services Tax
·Accredited Tax Practitioner (GST), Singapore Chartered Tax Professionals (SCTP)
·Head of GST, SW Singapore (2022 - current)
Curriculum Vitae
·Associate, PricewaterhouseCoopers Taxation Services Sdn Bhd, Malaysia (2010)
·Manager, KPMG Services Pte Ltd, Singapore (2011 – 2020)
•Ee Theng has over 13 years of tax experience specialising in indirect tax. She commenced her career in Big 4 Accounting firms in both Singapore and Malaysia.
•Her portfolio of clients at the firms includes companies from industries such as funds, banks, insurance, REITs and registered business trusts, public healthcare, marine and shipping, investment holding companies, logistics and freight forwarding, manufacturing, retail, trading, news publishing, hotels and serviced apartments.
•She has conducted close to 40 Assisted Compliance Assurance Programme (ACAP) cases, which is a 15-month voluntary programme initiated by the Inland Revenue Authority of Singapore to provide a holistic framework for businesses to proactively manage their GST risks and controls by understanding the business process flows and the GST controls maintained in the operating and financial systems.
•She has also conducted the Assisted Self-Help Kit (ASK) for GST scheme renewal such as Major Exporter Scheme, GST Health Checks, due diligence for merger and acquisitions and review of GST returns.
•Ee Theng has also provided GST advisory work and addressed IRAS’ queries/audits for businesses in Singapore.
•During her time in SW Singapore, she successfully assisted her client in securing S$8 million of input tax claim. Her major clients include Weave Living group, Lonpac Insurance Bhd, Pop Mart Holdings (Singapore) Pte Ltd, Munters Corp Ireland Limited, NovogeneAIT Genomics Singapore Pte Ltd and China Merchant Energy Trading (Singapore) Pte Ltd.
GINA SOH SUAN LIN
Partner, Transfer Pricing
·Chartered Tax Institute of Malaysia (CTIM)
·Institute of Chartered Secretaries and Administrators, UK (ICSA)
Curriculum Vitae
·Tax Senior, Deloitte Malaysia (2011 - 2013)
·Senior Tax Analyst, Advanced Micro Devices (2014 - 2018)
·Head of Transfer Pricing, SW Singapore (2019 - Current)
•Gina has over 20 years of tax experience including transfer pricing (TP). She commenced her career in a medium sized accounting firm and a Big Four.
•Prior to joining SW Singapore, she was attached to a MNC as a Tax Accountant for close to 5 years handling international tax. Her tax experience includes Corporate and Business Income Tax, various tax incentives applications and TP.
•Gina heads the TP practice in SW Singapore and is dedicated to assist companies to plan and document appropriate TP strategy for their inter-company transactions. She oversees the TP projects including documentation studies, audit related matters and planning studies for Clients. The industries she has served include Investment fund management, commodity trading, shipping, manufacturing, food industry, construction, biotechnology, electronics, etc.
•She has wide experience with review and preparation of TP documentation projects (Master File and Local File) and benchmarking studies for multinationals companies, specializing in wide range of intercompany transactions, such as management services, royalty, loan transactions, etc.
•She has handled TP queries from the Comptroller of Income Tax for the Clients. She also provided TP consulting, due diligence and documentation services for international organizations with regards to disputes and compliance matters.
•Major clients of Gina are e-Commodity Holdings Pte Ltd, China Merchant Group of Companies, NovogeneAIT Genomics Singapore.
YONG XIU WEI
Partner, Transfer Pricing
·Fellow Member of Association of Chartered Accountants (FCCA)
·Associate Member of Malaysian Institute of Accountants (MIA)
Curriculum Vitae
·Manager, Transfer Pricing, Deloitte Malaysia (2014 - 2019)
·Partner, Transfer Pricing, SW Singapore (2020 - Current)
•Xiu Wei worked for one of the Big Four in Malaysia for 6 years before joining SW Singapore.
•She has close to 15 years of professional work experience, accumulating relevant experience in audit and tax, with more than 8 years specialising in transfer pricing (TP) related services in Singapore and Malaysia.
•Xiu Wei previously held a managerial role in the TP division of Deloitte Malaysia. She was the pioneer of the team and instrumental in developing the TP practice for the branch office.
•Xiu Wei has assisted large multinational companies in preparing TP defense documentation and represented clients in response to TP audits and voluntary disclosure projects before the Malaysian tax authority.
•Her expertise is conducting planning study, risk management and providing advice to clients and ensure compliance for various related party transactions such as management services, royalties, loan transactions, etc.
•Xiu Wei is mainly responsible for the Singapore subsidiaries of the China based corporation, including Shandong Shipping Corporation, Sinotrans Overseas Development Limited, Wuxi Boda New Energy Technology Co., Ltd.