Tricor Group Accelerates Expansion & Synergies in Mainland China Following Strategic Acquisitions and Alliances

Lennard Yong, CEO of Tricor Group (middle), photographed here together with Hailiang Zhang, Deputy CEO of Tricor Mainland China (left) and Michael Gong, CEO of Richful Deyong, a Tricor company (right) (Photo: Business Wire)

SHANGHAI--()--Tricor Group (Tricor), Asia’s leading business expansion specialist and provider of integrated business, corporate, investor, human resources and payroll, corporate trust and debt services, shared its ‘One Tricor’ strategy for growth in the GBA as well as across its Asia footprint. Through a blend of strategic acquisitions, alliances, partnerships and organic growth, Tricor expects to achieve double digit growth fuelled by its synergistic business plans across its operations in Greater China. Since 2001, Tricor’s mainland China operations have grown from a single representative office in Beijing to a full-service suite of integrated business expansion solutions and expertise in 13 cities with over 500 employees.

Lennard Yong, CEO of Tricor Group, said: “Synergy is a top priority for Tricor as it approaches its next phase of growth in mainland China. With development initiatives like Belt and Road and Greater Bay Area advancing, China will remain a centerpiece for global expansion activities. Through strategic acquisitions and forward-thinking partnerships, we are building a network that infuses Tricor’s global expansion expertise with local capabilities to support Chinese clients looking to expand and scale from incorporation to IPO across Greater China and beyond.”

Following Tricor’s acquisition of Richful Deyong (RFDY) in May 2019, the combined Tricor and RFDY platform meets the growing needs of Chinese enterprises going abroad, with the most comprehensive suite of services available on the market. In June 2019, the acquisition of Alphalink (majority-owned by RSM Hong Kong partners) offered a significant opportunity for Tricor to develop an even stronger presence in mainland China, enhance Tricor’s capabilities and further leverage on key economic development initiatives that are shaping the APAC region like Belt and Road and Greater Bay Area.

Hailiang Zhang, Deputy CEO of Tricor Mainland China, said: “As the world’s second-largest recipient of foreign direct investments, China will continue to hold its leading position as one of the world’s most attractive markets for foreign trade and investment. We therefore continue to see robust opportunities for foreign-owned enterprises in China, and have been expanding accordingly in order to ensure our clients have the right tools to grow in the region. The Belt and Road and Greater Bay Area initiatives are paving the way for companies to enjoy long-term, structural growth in Asia, and our unique roots as an Asian company give us a competitive advantage in such a dynamic and complex market.”

Michael Gong, CEO of Richful Deyong, a Tricor Company, said: “With our team of over 200 experienced professionals and Tricor’s resources, we provide Mainland Chinese companies with premier services to help them expand in China and overseas. Our combined companies and One Tricor vision have created a juggernaut in China’s corporate and business services space, with particular leadership in helping Chinese business achiever their international expansion ambitions. I look forward to bringing even greater support to our clients with Tricor’s deep expertise, helping them reach new heights throughout the world.”

About Tricor Group

Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, and corporate trust & debt services. Tricor provides the building blocks for, and catalyzes every stage of clients’ business growth, from incorporation to IPO. Tricor has had a rapid expansion through organic growth and development as well as partnerships, mergers and acquisitions. The Group today has over 50,000 clients globally, a staff strength of over 2,600 and a network of offices in 47 cities across 21 countries / territories. Our client portfolio includes over 1,500 companies listed in Hong Kong and China, ~500 companies listed in Singapore and Malaysia, and more than 40% of the Fortune Global 500 companies, as well as a significant share of multinationals and private enterprises operating across international markets. In March 2017, the Permira Funds became the controlling shareholder of the Tricor Group, alongside management.

Visit: www.tricorglobal.com

Contacts

For more information, please contact:
HONG KONG (GROUP OFFICE)
Sunshine Farzan
Tricor Services Limited
Group Head of Marketing & Communications
Tel: +852 2980 1261
Email: Sunshine.Farzan@hk.tricorglobal.com

Contacts

For more information, please contact:
HONG KONG (GROUP OFFICE)
Sunshine Farzan
Tricor Services Limited
Group Head of Marketing & Communications
Tel: +852 2980 1261
Email: Sunshine.Farzan@hk.tricorglobal.com