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ISCA launches first Professional Services Centre in Johor Bahru in partnership with ASME, IVAS, Law Society, SMF, and Tax Academy of Singapore, to support growth of businesses in Johor-Singapore Special Economic Zone
Singapore, 28 February 2025 – The Institute of Singapore Chartered Accountants (ISCA) has officially launched its first Professional Services Centre in Johor Bahru (JB), which is strategically located within the Johor-Singapore Special Economic Zone (JS-SEZ). As part of plans to expand its regional footprint, ISCA hopes to tap on the potential growth opportunities within the JS-SEZ, and to contribute to the growing economic ties between Singapore and Malaysia.
ISCA’s Professional Services (PS) Centre in Johor Bahru is the first of 10 such centres that ISCA will be launching across major cities around the world by June 2025, to support the growth of businesses in their respective countries. These centres mark a new joint partnership between ISCA and the following organisations, which are part of ISCA’s Professional Accountancy Hub:
- Association of Small & Medium Enterprises (ASME)
- Institute of Valuers and Appraisers, Singapore (IVAS)
- Law Society of Singapore
- Singapore Manufacturing Foundation (SMF)
- Tax Academy of Singapore
ISCA’s PS Centre in Johor Bahru will serve as a conduit to promote the expansion and availability of professional services such as accounting, sustainability, legal, business valuation, taxation and other corporate services, to meet the needs of Singaporean businesses seeking to expand in Malaysia and vice versa. In addition, it will help to foster cross-border partnerships, and drive the development of accountancy talent in both countries. This is done in anticipation of the future growth of businesses in the JS-SEZ, as more entities tap on the collective resources and collaborative environment within the Zone to expand operations. ISCA expects a considerable increase in demand for professional services and accountancy firms to meet these needs and navigate evolving regulations from a growing pool of clients, particularly in areas such as corporate set-up, cross-border taxation, business expansion advisory, sustainability standards and adoption of technologies.
Recognising the growing need for professional services, the Malaysian government recently announced a target to train 60,000 professional accountants by 2030. The JS-SEZ will create even more demand for professional accountants. In alignment with this vision, ISCA will be forming partnerships with local universities based in Malaysia (Sunway TES College, University of Reading Malaysia, and the University of Southampton Malaysia) to create dedicated pathways for their students to pursue the Singapore Chartered Accountant Qualification (SCAQ), though provisions of resources, learning support as well as scholarships.
"ISCA is committed to supporting the growth of the Johor-Singapore Special Economic Zone," said Mr Teo Ser Luck, President of ISCA. "Our Professional Services Centre in Johor Bahru and our partnerships with universities in Malaysia aim to ensure that businesses across both countries prosper, and that a steady supply of skilled accountants will be available to support the Zone's development. We also look forward to facilitating regional interaction between Malaysian and Singaporean professional services firms, fostering knowledge sharing and mutually beneficial relationships.”
“By leveraging Singapore’s expertise in family offices and sustainability, ISCA’s new business centre in Johor Bahru will provide their members and Malaysian SMPs with the tools and knowledge they need to adapt and excel in an increasingly interconnected world. Together, the joint expertise and resources of the accounting fraternity from both countries will surely be an important support to the development of the JS-SEZ,” said Mr Wong Wen Tak, CEO of Grant Thornton Malaysia - Johor Office.
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For more information, please contact:
Rushdan Rozlan
Country Manager (Malaysia)
Tel: +60 124567208
Email: rushdan.rozlan@isca.org.sg
Seah Yi Qin
Manager, Communications
Tel: +65 9833 3904
Email: yiqin.seah@isca.org.sg
About the Institute of Singapore Chartered Accountants (ISCA)
The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 39,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.
Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.
ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.
ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.
For more information, visit www.isca.org.sg.
ANNEX – Quotes from ISCA Professional Services Centre Partner Organisations
Association of Small and Medium Enterprises (ASME)
Mr Ang Yuit, President of the Association of Small and Medium Enterprises, said: “ASME is proud to be a valued member in ISCA’s Professional Accountancy (PA) Hub’s journey to foster collaboration across diverse sectors to drive meaningful impact to businesses, SMEs in particular. In today’s evolving business landscape internationalisation is no longer a luxury – it is a necessity for businesses to stay competitive and relevant. The establishment of ISCA Professional Services Centres in 10 cities is a timely and strategic move that aligns with ASME’s commitment to support SMEs in expanding beyond Singapore’s shores. We look forward to working closely with ISCA and our partners, to equip SMEs with the resources, guidance, and connections needed to navigate new markets confidently. Through this initiative, we look forward to reinforcing the Singapore brand globally and fostering stronger cross-border collaboration.”
Law Society of Singapore
“The Law Society of Singapore is pleased to support this initiative, which will help Singapore businesses expand into new markets,” said Ms Lisa Sam, President of the Law Society of Singapore. “Investing overseas brings opportunities but also legal complexities. Through this collaboration with ISCA and our partners, we aim to equip businesses with essential knowledge on cross-border investments, including legal risks, international disputes, and regulatory considerations within the JS-SEZ. We look forward to working with ISCA to strengthen professional networks and build an ecosystem that supports business growth with confidence.”
Singapore Manufacturing Foundation (SMF)
Mr Dennis Mark, Chief Executive Officer of the Singapore Manufacturing Federation, said: “SMF is proud to partner with ISCA in launching its Professional Services Centres in Johor Bahru and key cities worldwide. The Johor-Singapore Special Economic Zone presents a transformative opportunity for cross-border collaboration, and the establishment of ISCA’s Professional Services Centre in Johor Bahru is a timely and strategic move. For manufacturers, this Centre will be instrumental in navigating regulatory complexities, advancing sustainability initiatives, and accelerating business expansion. SMF remains committed to leveraging this partnership to strengthen our members’ competitiveness and unlock new growth opportunities in this dynamic economic zone.”
Tax Academy of Singapore
“The establishment of ISCA’s Professional Services Centre in Johor Bahru comes at a crucial time as businesses face evolving tax challenges in an increasingly interconnected world,” said Mr Dennis Lui, CEO of the Tax Academy of Singapore. “With the growth of the Johor-Singapore Special Economic Zone (JS-SEZ), businesses will need expert tax advisory services to manage cross-border taxation and comply with changing regulations. We are excited to collaborate with ISCA to offer comprehensive training and development programmes to support the region’s tax professionals, ensuring they are equipped to navigate the complexities of the JS-SEZ and beyond.”