NG Soon Hong: Helping Organizations Grow With His Accounting Skills

NG Soon Hong: Helping Organizations Grow With His Accounting Skills

Ng Soon Hong , Chartered Accountant

Ng Soon Hong

Chartered Accountant

Organizations today prefer to concentrate on the core works, and they delegate the works like accounting and taxation to third-party firms. Ng Soon Hong exploited this opportunity and established NSH Corporate Consultants in the year 2007. The firm is a chartered accountant's firm registered under the Malaysian Institute of Accountants as a non-audit firm providing professional services including tax consultation services, company secretarial, financial accounting, management consultation, finance consultation, and general management. Under the leadership of Ng Soon Hong, the firm is providing various and complete professional services for your needs to maintain your good corporation activities and business transaction matters.

Ng Soon Hong is the Chartered Accountant and the founder of NSH Corporate Consultant. He has acquired more than 30 years of experience in the field of accounting, auditing, taxation, secretarial, corporation, and financial management. He is an approved tax agent and became an approved Goods and Services Tax agent in the year 2015, both licenses granted by the Ministry of Finance of Malaysia. Before founding his own firm, he worked with two companies and turned them into high-growth income and profitable companies.

Ng Soon Hong engages in an exclusive interaction with CEO Insight.

What is the motivation that fuels your daily routine?

I would say that I am a self-motivated person and at the beginning of every year, I set goals for my firm to accomplish. As a leader, I further divide my goals into quarterly goals such as increment of clientele, revenue, training, and staffing. To achieve our firm’s annual designated goals, we tend to perform every single work on a day-by-day basis very carefully and we make sure that every step that we take is right. Therefore systemization and computerization of business data are very essential nowadays to get the reporting and analysis to monitor the business operation. We make the time-to-time correction for any incorrect steps to accomplish the annual designated goals and that’s how motivation comes along without creating it.

How would you define NSH Corporate Consultants as an organization and its current position in the market?

I consider NSH Corporate Consultants a new form of a professional firm that departs from a conventional accountant practicing firm. In this technological world with high gearing of technology, we need to adapt it to our present business environment. Clients now are expecting more services from the public accountant to satisfy their needs, changing and complying with the prevailing business environment, particularly regarding government agencies’ rules and regulations. Thus, the firm is not only providing financial reporting or filing but also creating extensive accountant services for our clients to meet their demands. We have a unique firm structure that implemented a low-level management structure whereby all the workers directly report to an accountant without going through a series of superiors, such as managers, executives, or superiors. This is important to guide the subordinate directly and enhance reporting and problem-solving time, consequently reducing the cost of conduct, mean increase profit margin so our consultation fee is affordable. Our reward program is also unique where we give rewards to our staff based on the volume of work done by them. After adopting information technology for communication and recording, we became the first to start an accountant interactive website built in Malaysia for free-utilize by our clients where they could retrieve their documents and other information about their corporate accessible through our website at anytime and anywhere.

Keeping yourself abreast with the latest trends helps in effective growth

Tell us about your flagship offerings and what value additions customers can expect from your offering.

Our flagship offering is being a one-stop accountant service center to support each corporation in this region and overseas as well. The entrepreneurs lack knowledge of management with the latest development in business governing situations but as a mediator, we keep them abreast via email, WhatsApp, and social media. From incorporating a new corporation to the deregistration of an existing company, from writing up proposals such as acquisitions for companies to writing up a prospectus for a company for listing or fundraising by interest scheme. From auditing the business transactions to implementing internal control over their operations. From formalizing the management powers and rights by way of the Articles of Association to proposing a private retirement scheme. From consulting the prevailing industry strengths, opportunities, weaknesses, and threats to mitigating the exposure risks, we provide varied offerings to our clients and help them grow.

Tell us about your leadership approach. What is the guideline you follow to lead your team? What is the future destination you are heading forward to?

I always adopt an open-minded leadership approach, letting my subordinate have the opportunity to speak out their view, needs, and comments. This will lead the subordinate to build belonging at my firm and accept with an appreciation of their good view or comment. I adopt management by objective methodology in performing any assignment for my client. I set the objectives of my firm that include timely delivery of the report, comprehensive of the contents in the reports & presentation, and minimum fee generated for that month to lead my team efficiently and effectively.

Our firm is in preparation to set up the Fundraising and Finance consultation division to accommodate any client’s needs for fundraising or financing for his new project, expansion, or rescue. We also have our business strategy to carry out in-house training, accountancy courses, and seminars for the public for any business-relevant subjects. With the advancement in Artificial Intelligent, cloud storage, big data, and internet coverage, our destination is to develop advanced and intelligent accounting software that has the capability to issue digital documents such as e-invoices, e-receipt, e-order, e-delivery, e-packing, and e-quote by the initiator and to be accepted by the recipient on the other side in dealing business transaction. This system will have the capability to automatically reconcile between the parties from time to time, and auto-generate posting based on owner-selected accounting policies, taxes computation, human resource matters, alerts, consulting, reporting, and others.

What advice would you give to budding industry leaders?

The budding leader is advised to be more sensitive to the development and expansion of AI as most of our consultation works maybe migrate from personal to AI in the near coming future. However, AI cannot replace human work thus advise to put more commitment to understanding the environment of clients’ entities. To be a good Business consultant means not only having in depth knowledge of various aspects of a corporation, but also covering your experience and knowledge about a specific action taken that will lead to any consequences, impacts, and results in the short and long term. Thus, good business consultants always acquired vast experience in various industries and are sensitive to prevailing market conditions which may be interlinked with the entire business environment of your clients to make good judgments and correct actions for improving your client’s business performance.

Ng Soon Hong, Chartered Accountant, NSH Corporate Consultant

Ng Soon Hang is born in Sandakan, Sabah, Malaysia, and acquired a Professional licensed public accountant in 1999 in Malaysia and 30 years of working experience in various industries in accounting-related work.

• Hobbies: Swimming, traveling, and reading

• Favorite Cuisine: Chinese foods, Japanese  foods, and Western foods

• Favorite Book: Mostly on self-improvement, corporate improvement, and strategy

• Favorite Travel Destination: China, Japan, Switzerland, and Korea

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