2 acquisitions fully integrated to offer multi-disciplinary and comprehensive business services in Singapore and India.
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SINGAPORE - Media OutReach -
28 May 2019 - Regulatory compliance
consulting firm, Argus Global Pte Ltd, has fully integrated 2 business acquisitions.
The first was Ace Success Pte Ltd, a Singapore based secretarial, accounting
and tax practices company. � The second
was Argus Compliance India Private Limited, a subsidiary company, based in
India, offering a multi-disciplinary and comprehensive bouquet of services in Singapore
and India.�
"The company is
already looking to expand in Asia within three years and has set a revenue
target of S$50 million within five years." said CEO Sachin Gandhi.
Argus Global's clienteles
in Singapore are mostly entities who are regulated or are desirous to be
regulated by Monetary Authority of Singapore ("MAS") effective Financial
Institutions. They provide a full suite of services right from cradle to
nirvana including licensing, building compliance policy and procedures, taking
care of ongoing compliance for the regulated entity, trainings, internal audits
and other regulatory compliance matters. This corporate services acquisition provides
them the entire corporate compliances suite that complements their current
services.
The company, currently
bootstrapped by the promoters, is in the process of closing another transaction
within the next month and another 2 by the next quarter.
While details are not
available, Mr. Gandhi said these acquisitions would focus on the services and
regions where Argus Global wants to grow in, such as creating a presence in
Hong Kong, adding Environment Sustainability Consulting to their
repertoire. ��
"We at the onset have
clear strategic roadmap and post setting up the business organically we have
now started executing it. The compliance consulting and corporate services
market in ASEAN market is fairly large, albeit very fragmented with thousands
of practices of various sizes providing different levels of services at
dramatically different prices levels. These can be the very small players who
do not provide all aspects of service required to cater to the client and
regulator's need to large law firms which tend to be fairly transactional and
quite expensive versus a boutique consulting firm as Argus Global." Said Mr.
Gandhi.
At the same time, the Singapore
market is expanding with new initiatives such as Variable Capital Company ("VCC"),
which should see a lot of Fund business move from Cayman and Mauritius. The
Payment Services Act will bring a lot Digital Assets under the umbrella of MAS
regulation.
On the opposite end of
the spectrum, Anti-Money Laundering have significantly tightened for corporate
service providers, thus increasing fixed overheads. The relevant systems and
processes in place right from the beginning befits Argus Global's expertise as a
compliance consultant to regulated financial institutions. The company sees
opportunities in consolidating such various services as the industry struggles
to manage the pressures of operation with the new standards in place.
Argus Global is also
considering raising equity in the short term to fund its aggressive expansion
plans.
About Argus Global
Argus Global started operations in 4th Quarter
of 2017. The company specializes in regulatory
compliance and provides objective insights, subject expertise and a simple
approach to all compliance related needs. The diversified client base
spans�from start-ups to mature businesses. Argus partners with
clients�to serve all their compliance needs from the initial phase of
setting up, licensing, policy building, as well as procedures for ongoing�support,
training, audit, risk management and governance.
For more information please visit: � https://www.argusglobal.co/
