MarcumBP (MBP) announced the opening of its new office in Singapore. The office will support its growing practice of clients from Southeast Asia seeking to access capital markets through an Initial Public Offering (IPO) or Special Purpose Acquisition Company (SPAC) merger. Concurrently, MBP maintains its 20 year leadership position in the China market.
Why did MarcumBP expand into Singapore?
The office is located in the Marina Bay Financial Centre – home to some of the world’s most notable financial services companies – at 8 Marina View, Asia Square Tower 1, #07-05 Singapore 018960, in Singapore’s Downtown Core. The organisation’s expansion into Singapore is driven by the high demand for dedicated audit and advisory services for Asia-based businesses. MBP is the only audit firm with a dedicated SPAC team for Asia.
MBP performs all Greater China audits for Marcum LLP. In Southeast Asia, MBP serves as the independent public accounting firm for companies listing in the United States through an IPO or merger with a U.S.-listed SPAC, and offers non-audit consulting services for SPAC managers and operating companies listing on the Singapore or Hong Kong Stock Exchanges.
MBP Managing Director Pearl Peng has relocated from Hong Kong to Singapore to support the expansion of MBP’s Asia footprint. Peng leads the firm’s capital markets business in Asia.
What were the executives’ thoughts on the expansion?
“With our strong base of experience auditing Chinese issuers listed in the United States market, MBP has expanded our client roster to include Indonesia, Singapore, Malaysia, and other Southeast Asia countries,” commented Neil Pinchuk, co-chair of MarcumBP.
“We continue to see strong demand for our services in China as firms navigate an evolving regulatory environment and need to sustain the confidence of international investors. As we advance this expansion, MBP seeks to set the standard for responsiveness and audit quality.”
Commenting on the expansion, Drew Bernstein, co-chair of MarcumBP said, “MBP is uniquely positioned to support companies from Southeast Asia that are seeking a pathway to the United States capital markets. The Southeast Asia region is becoming a financial hub for Asia with a strong pipeline of venture capital and private equity-backed innovative companies.”
“As these emerging ‘unicorns’ consider how to sustain their growth, many are looking to the U.S. markets to optimize their valuations and gain ongoing access to deep liquidity pools. MBP offers an integrated ‘one-firm solution’ to provide audits that are U.S. GAAP and PCAOB-compliant, backed by a team with high-level technical proficiency and extensive experience.”
