Tan Boon Heng
Singapore
Summary
(Nationality: Malaysian with Singapore PR status, aged 52 years) A Chartered Accountant of Singapore and Fellow member of the Association of Chartered Certified Accountants (ACCA, UK), with over 20 years of experience in auditing, financial reporting & management, IPO and investor relations, including more than 15 years working in the senior executive management position for corporations and companies listed on the Main Board of the Singapore Stock Exchange (“SGX”). Started working in Singapore as an auditor since 1998 for 7 years, with various industries audit.
Overview
27
27
years of professional experience
Work History
Chief Financial Officer
Sunstar Geotech Pte Ltd
04.2024 - Current
- The company primarily engages in the provision for piling and pile removal works, earth retaining and stabilising structures services such as sheet piles, soldier piles and strut are used to maintain the shape of excavation during construction
- Drive the company’s financial planning including budgeting, forecasting, and cash flow function
- Ensure accounting and internal control activities of finance are compliance with Singapore FRS frameworks
- Lead the monthly financial close process, including the preparation of financial statements, reconciliations, and variance analysis to senior management
- Conduct in-depth financial analysis to provide insights into business performance and trends, identifying areas for cost saving opportunities
- Liaison with external auditors for annual financial statutory audit
- In-charge of banking, legal and taxation matters with co-ordination of corporate secretarial matters
- Implement and maintain strong internal control procedures
- Reason for leaving: Company bought over by new investor
Financial Controller
East Marine Pte Ltd
11.2020 - 07.2023
- The company, located at a 48,000 sqm prime waterfront premise at the west of Singapore, is specialists in dredging and marine engineering works
- Assess and evaluate financial performance concerning the organisation’s long-term operational goals, budgets, and forecasts
- Provide strategic insights and recommendations to support the company’s growth initiatives
- Collaborate and engage with the CEO and Executive Leadership Team to align financial objectives with business strategies
- Establish and monitor annual financial objectives to drive growth and expansion plans
- Select, engage, and manage relationships with consultants, auditors, and investors
- Lead cash flow planning to ensure sufficient funds are available for operations and growth
- Leverage forward-looking financial models and activity-based analyses to support decision-making and budgeting
- Prepare and deliver comprehensive monthly financial budgeting reports
- Analyse financial results and provide actionable recommendations to the leadership team
- Develop and manage monthly operating budgets and the annual corporate budget
- Ensure the company has adequate financial resources to support its operations while adhering to sound financial management practices
- Manage daily cash operations, including cash flow monitoring and reporting
- Maintain robust internal controls and ensure compliance with financial policies and procedures
- Ensure timely and accurate financial and management reporting
- Serve as the primary contact for external auditors and manage all aspects of audit preparation and support
- Reason for leaving: Company is in the process of voluntarily liquidation
Chief Financial Officer
Eastlog Holding Pte Ltd
12.2018 - 05.2020
- The group engaged in a multi-user port facility in East Java Province (Indonesia) within an approximate area of 100 hectares, providing an integrated support services and facilities to oil and gas industry
- Supported by an engineering team in Malaysia
- Diversifying to non-oil-and-gas sectors such as dry bulk cargo, asphalt and cold storage projects
- Responsible for overseeing and managing the financial reporting, finance, treasury, budgeting, internal control and taxation matters for strategic planning with Group CEO and respective subsidiaries’ finance heads in Indonesia and Malaysia
- Performed due diligence and project evaluation on new business plan, includes capital expenditure of heated-asphalt-tanks and review appropriate terminal throughput fees on bulk vessels for a reputable regional asphalt supplier
- Managed and maintained good working relationship with the respective local auditors, tax consultants and banks in Singapore and Indonesia
- Managed treasury, credit controls and liquidity management to ensure adequate cash for operational requirements
- Negotiated terms and conditions with the banks for facilities to finance projects
- Worked with the tax consultants, creating a more tax-efficient structure with proper transfer pricing documentation
- Led and managed the group segmental financial reporting and analysis to management, shareholders and other stakeholders within the stipulated deadline
- Reviewed risk and key compliance matters as well as the group formal SOP
- Reason for leaving: Extensive weekly travel to Surabaya and Jakarta
Chief Financial Officer
Lion Tin Sdn Bhd
08.2012 - 07.2018
- The company is a setup company primarily engaged in mining and tin mining in Kuala Langat, Selangor (Malaysia) with an area of about 1,900 acres, supplying construction sand for Klang Valley users and upgraded silica sand to the top glass manufacturers from China, Xinyi Group (Jasin, Melaka) and Kibing Group (Seremban, Negeri Sembilan) with factories located in Malaysia
- Reported directly to The Lion Group Executive Chairman in Malaysia
- Responsible for finance functions including the formulation and implementation of corporate policies compliance, financial analysis, taxation, budgeting & forecasting, financial reporting and credit control
- Provided risk management with ongoing development of internal control systems designed to protect the assets of the company
- Provided leadership, direction and management of the finance and accounting team
- Provided financial reports and strategic recommendations to the members of executive management team
- Managed the processes of financial forecasts and budgets, and oversees the preparation of financial reports
- Reviewed requirements prepared for future IPO, including group corporate structure, historical financial track records preparation, assessment of corporate governance and compliance management framework
- Arranged different source of finance for capital expenditure and working capital include equipment finance lease, industrial hire purchase and term loan, as well as develop business relationship with bankers
- Prepared financial model for feasibility study review such as IRR, Payback Period and NPV analysis for potential investment project
- Oversaw the supporting functions for IT infrastructure & data security, including review all formal finance & IT related procedures
- Reason for leaving: Employment opportunity
Deputy Chief Financial Officer
Parkson Retail Asia Limited
06.2011 - 07.2012
- The Group operates about 50 department stores across cities in Malaysia, Vietnam and Indonesia as at 3 November 2011, its listing date on Main Board of the Singapore Stock Exchange (“SGX”)
- The group operates under the name “PARKSON” in Malaysia and Vietnam and under the name “CENTRO” in Indonesia
- Reported and supported the Group Managing Director in all financial related work to the successful listing on the SGX
- Supported the CFO (who joined later on 1 February 2012) to drive and lead the finance functions of the group’s business including financial reporting, with capital and debt management
- Responsible for financial functions and accounting matters including overseeing the timely preparation and reporting of the listed group financial results, liquidity management, budgeting & forecasting, internal controls, and compliance with regulatory rules and regulations
- Reviewed overseas subsidiaries’ financial reports and analysis and performed variance analysis for executive management
- Developed communications with analysts, potential & existing shareholders and financial institutions
- Maintained good corporate governance within the group with adequate controls including close liaison with the company secretary and internal and external auditors
- Involved in developing business plans and financial forecasts to monitor the group’s financial performance
- Built a strong finance team by providing them with opportunities for skill development and career growth for junior talent
- Involved in developing an internal accounting controls, company policies and procedures, corporate governance measures and operational reporting
- Reason for leaving: Internal promotion within The Lion Group
Finance Manager
Lion Asiapac Limited
05.2006 - 05.2011
- A public company listed on the main board of Singapore Exchange
- The core businesses are lime manufacturing, trading of steel consumables and investment holding
- Responsible for the overall accounting and finance function of the listed group, report directly to the Group Executive Director
- Managed the accounting and finance department, preparation of group accounts for SGX quarterly results announcement and year-end annual report
- Managed compliance with accepted accounting principles and practices, corporate governance and regulatory requirements, including SGX listing rules
- Responsible for the group accounting process to ensure inherent and accurate financial data reaches decision makers in a timely manner
- Assessed the group financial impact of the changes in financial reporting standards and regulations
- Trained the accounting personnel on such changes and ensure the required changes are timely reflected in the financial reports
- Responsible for cash flow management for mid-to-long range liquidity planning to ensure availability of working capital and capital expenditure as required
- Prepared annual budget, quarterly forecast and cash requirement projection for periodic adjustment to ensure adherence to established target
- Evaluated the adequacy of internal controls procedures on a group basis for risk management
- Identified, assessed, mitigated and monitored potential business risks
- Performed financial due diligence exercise (includes ROI, NPV, IRR and sensitivity analysis) on targeted companies/ proposed projects and present the analysis and recommendation for board’s decision
- Provided critical financial and operational information to the Group Executive Director and Board of Directors on various investment and divestment activities
- Involved in the disposal of the automobile investment listed on the Shanghai Stock Exchange
- Established and maintained relationships and liaison with auditors, bankers, independent financial advisers, lawyers and tax agents
- Reason for leaving: Internal promotion within The Lion Group
Audit Supervisor
Steven Tan Russell Bedford PAC
04.1998 - 11.2005
- Specialised and carried out financial audits for a diverse range of corporate clients engaged in the construction, property development, departmental store and retailing, engineering, freight forwarding, investment holding, market research consulting, shipping agency and trading industries
- Involved in special engagement like internal control reviews and participating in due diligence of local and overseas companies
- Prepared reports on audit findings, making recommendations with the objective of improving clients’ internal controls and systems
- Liaised with clients’ company secretary
- Performed statutory audit on clients’ minutes books and directors’ resolutions
- Liaised with clients’ tax agent
- Assessed adequacy of clients’ corporate tax provision including current and deferred income tax computation by applying the Singapore income tax law
- Supervised and provided on-site coaching to junior audit staff
- Managed the team allocation of sections and progress to ensure that tight deadlines of concurrent audit assignments were met
- Reason for leaving: Career advancement
Education
ACCA Professional Qualification -
The Association of Chartered Certified Accountants, UK
01.1997
Diploma in Commerce - Financial Accounting
Tunku Abdul Rahman College, Malaysia
01.1997
Skills
- Accounting Policies Setting
- Budgeting & Forecasting
- Corporate Governance Compliance & Risk Management
- Consolidation of Group Accounts
- Corporate Finance
- Due Diligence & Project Evaluation
- Corporate Tax Planning
- Credit Control & Treasury Management
- Financial Audit & Assurance
- Financial Reporting & Analysis
- Financial Modelling
- Fundraising (IPO)
- Investor Relations (IPO)
- SGX Announcement
Languages
Fluent, written & spoken
English
Mandarin
Bahasa Malaysia
References
To furnish upon request
Affiliations
- Chartered Accountant of Singapore, Institute of Singapore Chartered Accountants (ISCA)
- Association of Chartered Certified Accountants (ACCA), UK Professional Qualification
Availability
1 month
Timeline
Chief Financial Officer
Sunstar Geotech Pte Ltd
04.2024 - Current
Financial Controller
East Marine Pte Ltd
11.2020 - 07.2023
Chief Financial Officer
Eastlog Holding Pte Ltd
12.2018 - 05.2020
Chief Financial Officer
Lion Tin Sdn Bhd
08.2012 - 07.2018
Deputy Chief Financial Officer
Parkson Retail Asia Limited
06.2011 - 07.2012
Finance Manager
Lion Asiapac Limited
05.2006 - 05.2011
Audit Supervisor
Steven Tan Russell Bedford PAC
04.1998 - 11.2005
Diploma in Commerce - Financial Accounting
Tunku Abdul Rahman College, Malaysia
ACCA Professional Qualification -
The Association of Chartered Certified Accountants, UK
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