Profile
Firm’s Profile
MHC Partnership LLP (formerly MHC & Associates, DFK) was established in December 1997 by Mr Cheong Mun Hong. Ms Cheong Kum Foong joined as a partner in March 1998.
Our firm was admitted as a member firm of DFK International, a major worldwide group of independent accounting firms. DFK International is represented in 90 countries and has a total of 215 individual member firms operating from over 417 offices in 90 countries. Being affiliated with DFK International allowed us to meet the needs of businesses and individuals with interests in more than one country.
Our professional practice was well equipped to provide accounting, auditing, taxation, corporate secretarial and consultancy services to a wide range of clients.
Our firm’s clientele included manufacturers, traders, contractors/developers, solicitors, schools, travel agencies, management corporations and clubs/societies/associations. We were also engaged by the Ministry of Education to perform internal audit for government schools in Singapore. We had carried out internal audit for more than 50 government schools ranging from primary schools to junior colleges.
Our firm’s services extended beyond Singapore as the partners, managers and professional staff had performed audit and due diligence work in China and Malaysia as well as business advisory and taxation services for our clients’ Malaysian and Hong Kong operations.
Structured in-house training courses covering topics on audit, taxation and management were held frequently to develop our people and to keep abreast with rapid changes in technology and legislation.
Our partners and managers had also published several research articles and conducted seminars on various topics of current development for our clients and business associates. The research articles covered a wide range of interesting and relevant topics. The seminars conducted by us had received good response from clients and business associates and details of the seminars can be accessed from our website.
We also take pride in our involvement with community services. We organised donations to charitable organisation regularly. For example, we had participated in donation drives during the Turkey and India earthquake disasters and the Asia tsunamis. In 2000, we had also been conferred an award by Nanyang Technological University, Nanyang Business School for our participation in the professional attachment training programme in which we provided on the job training to accountancy undergraduates.
Our firm was merged with Smalley & Sims PAC with effect from 1 January 2021.
Cheong Mun Hong
Mr Cheong Mun Hong is a Fellow (practising) of the Institute of Singapore Chartered Accountants (“ISCA”) and a Fellow of the CPA Australia. He graduated from the National University of Singapore in 1989 and obtained his Master Degree in Business Administration with Distinction awarded by The University of Wales, Bangor, in co-operation with The Manchester Business School in July 1997.
Mun Hong started his professional career with Price Waterhouse (now PriceWaterhouseCoopers) in Singapore and left as an Assistant Audit Manager in 1994. He joined PriceWaterhouse Dahua in Shanghai in January 1995. After gaining experience in Shanghai as an Audit Manager for approximately two years, he returned to Singapore to join a prominent local accounting firm and was later admitted as a partner. In December 1997, he resigned to set up his own accounting firm, MH Cheong & Associate, subsequently renamed as MHC & Associates, DFK and now converted to MHC Partnership LLP.
He has been involved in corporate restructuring and listing of companies on the Stock Exchange of Singapore (now SGX) and KLSE, audit of SGX listed companies and their subsidiaries (local and overseas), a special project on transfer of assets in China involving a KLSE listed company and a SGX listed company, audit of B shares listed companies in China, listing of China state owned companies in overseas stock exchange and various due diligence work in Singapore and in China.
Mun Hong specialised in the audit of banks and stockbroking firms before he left for China. He has also participated in a World Bank funded project to assist the People’s Bank of China in strengthening their regulatory and supervisory functions.
He has also been involved in designing training courses, developing training materials and conducting training courses, both in-house and for multi-national corporate clients.
Mun Hong had also served as a director of SBI E2-Capital Pte Ltd (later known as Westcomb Capital Pte. Ltd.) a prominent company providing corporate finance advisory services for clients seeking public listing.
He had served as an Institute of Certified Public Accountants of Singapore (now known as ISCA) committee member in the Members’ Welfare Committee in 1999/2000 and as a member to the Panel of Inquiry Committee of the Public Accountants Board from 15 March 2003 to 31 March 2004. He was appointed as a member of The Investigation and Disciplinary Panel of the ISCA since April 2013. He was also appointed as a member of the Complaints and Disciplinary Panel since 1 April 2019 by the Public Accountants Oversight Committee (“PAOC”), which administer audit regulation under the Accountants Act for Accounting and Corporate Regulatory Authority (“ACRA”).
Mun Hong has been involved as a facilitator of Singapore SCAQ, taking Assurance and Financial Reporting modules, and has helped various practising accountants in cold review and hot review. He has also been appointed as an Associate Faculty in Singapore Institute of Technology (“SIT”).
Cheong Kum Foong
Ms Cheong Kum Foong is a Fellow (practising) member of the Institute of Singapore Chartered Accountants (“ISCA”) as well as a FCPA member of CPA Australia. She is also a Fellow member of the Chartered Secretaries Institute of Singapore as well as a Fellow of the Association of Chartered Certified Accountants. She has been admitted as Certified Internal Auditor of the Institute of Internal Auditors and ASEAN Chartered Professional Accountant by the ASEAN Chartered Professional Accountant Coordinating Committee in 2018.
Kum Foong started her professional career in 1986 with a prominent local accounting firm and was admitted as a partner in May 1990. She joined MH Cheong & Associates, subsequently renamed as MHC & Associates, DFK and now converted to MHC Partnership LLP, as a partner in March 1998.
Having worked many years in the profession since 1986, she has much experience in audit and preparation of group financial statements of small and medium size enterprises, local and listed companies in Singapore. Besides statutory financial audits, she is also involved in advisory work relating to due diligence, listing application and prospectus relating to initial public offering. She has been involved in the listing of 5 companies in Singapore.
Kum Foong’s other professional experience includes advice on new establishments, corporate liquidation, share valuation and profit forecast review. She has also been involved in designing training programmes as well as conducting seminars and in-house training courses. She has been appointed as an adjunct lecturer in Nanyang Polytechnic and an Associate Faculty in Singapore Institute of Technology since 2006 and 2012 respectively. She is also the Workshop facilitator for the Singapore SCAQ programme since 2013. She was also appointed as a Technical reviewer of the Financial Reporting Module of the Singapore SCAQ in 2014.
She had served as a member to the Panel of Inquiry Committee of the Public Accountants Board from 15 March 2003 to 31 March 2004. She was also appointed as a member of the Complaints and Disciplinary Panel of the Public Accountants Oversight Committee from 2004 to 2010. The Committee was set up under the Accountants Act 2004 to assist the Accounting and Corporate Regulatory Authority (“ACRA”) in the discharge of its function. She has also been appointed in both the Hot Review and Peer Review Panel by the ISCA for the period from 1 January to 31 December 2013. Since 2015, she has been appointed as a member of the ISCA Investigation and Disciplinary Panel.
In 2020, she has also been appointed as a member of the ISCA Public Accounting Practice Committee.