KPMG Cambodia has bought out one of its local competitors in an effort to position itself as a leader in accounting, taxation and advisory services before ASEAN integration later this year.
A statement issued Friday by KPMG states that the firm acquired Premier Consulting (Cambodia) Limited, a Phnom Penh-based audit, tax and advisory business on January 1.
Warrick Cleine, chairman of KPMG in Vietnam and Cambodia, said the acquisition represents KPMG’s confidence in Cambodia’s business environment as it nears ASEAN Economic Community (AEC) integration, slated for December this year.
“This deal is a powerful demonstration of KPMG’s expanding strength and commitment to serving our clients in Vietnam and Cambodia,” Cleine was quoted saying in the statement.
“Adding Premier’s team to KPMG significantly enhances the service offerings we will be able to provide our clients of all sizes and at every stage of the business life cycle.”
KPMG did not disclose how much Premier was bought for.
Premier director James Roberts will join KPMG Cambodia as partner, according to the statement.
“Having access to the KPMG network will bolster our ability to provide clients in this region with an unparalleled level of service”, Roberts said.
KPMG in Cambodia will continue to be led by senior partner Michael Gordon.