SINGAPORE: Singapore’s professional services firm KPMG will invest more than $15 million in three new business arms here that will focus on cyber security, energy trading and international tax.
The expansions will take place over two years and employ more than 50 Singaporeans or permanent residents with relevant specialist skills. Employees will also receive advanced practitioner training.
“We have identified these three areas as having the most opportunities for growth, given the global shortage of talent in these areas and the upcoming formation of the ASEAN Economic Community by the end of this year,” said Mr Tan Wah Yeow, deputy managing partner at KPMG in Singapore.
Mr Lyon Poh, KPMG Singapore’s lead partner in cybersecurity, said that in an era of “determined, organised and well-funded attacks on systems”, KPMG’s cyber-security arm plans to build up a strong network of experts to help clients focus on pervasive monitoring, as well as rapid detection and response to cyber risks.
Mr Pek Hak Bin, head of KPMG Singapore’s energy and natural resources practice, said the energy-trading team would help Singapore grow as a “one-stop advisory hub” for global energy-trading firms, and attract more traders to Singapore.
To build its international tax team, KPMG will recruit from an international network.
It will also raise the skills of its current professionals, and move routine lower-value work offshore.
KPMG will also launch a new talent development programme to hone the skills of local consultants in the areas of cyber security, energy trading and international tax.
“The growth opportunities in Asia coupled with increasing uncertainties and complexities in the global environment are driving demand for deeper levels of expertise in professional services,” said Mr Kelvin Wong, assistant managing director at the Singapore Economic Development Board.
