Tricor Services (Malaysia) Sdn Bhd | APEA - Asia Pacific Enterprise Awards Asia Pacific Enterprise Awards

CORPORATE EXCELLENCE CATEGORY

Tricor Services (Malaysia) Sdn Bhd

Information about the Company
Tricor Group’s vision is to be the leading business expansion specialist in Asia. With global knowledge and local expertise in business, corporate, investor, human resources & payroll, corporate trust & debt services, fund administration, and strategic business advisory, Tricor helps its clients expand their businesses effectively and sustainably.

Tricor’s advantage comes from deep industry experience, committed staff, technology-driven processes, standardized methodologies, constant attention to changes in laws and regulations and wide industry contacts. Tricor is uniquely positioned to unlock the potential of its clients’ businesses, helping them stay one step ahead of today’s diverse and fast evolving regulatory environment. Tricor’s core values are collaboration, passion, integrity, agility and care.

Corporate Culture & Company Activities
Tricor is committed to being a good corporate citizen, a responsible employer and to empower its workforce. Tricor’s CSR activities cover a range of causes, including employee engagement and wellness, diversity and inclusion, gender equality, sustainability and environmental protection, community outreach, and support for the disadvantaged, including youths and the elderly.

Tricor is a founding member of the Shared Value Project Hong Kong and is working with fellow corporates to future-proof business, foster trust and align business value with community needs, nurturing powerful and disruptive business models driven by purposeful profits.

Tricor promotes employee well-being by adopting company-wide policies. During the Covid-19 pandemic, Tricor implemented additional safety measures and mobilized flexible work arrangements for over 2,600 employees across the globe.

Tricor engages employees in the community through philanthropy, volunteerism, fundraising and charity work. The firm purchased 30,000 surgical masks and engaged volunteers to help distribute them to the needy in Hong Kong.

Tricor also fosters diversity and inclusion and is committed to recruiting, developing and promoting a diverse workforce while providing unique opportunities across its offices and functional areas.
Achievements & Impact
Strategically headquartered in Hong Kong SAR, Tricor currently operates across a network of 49 offices across 22 countries/ territories. With 3,000 employees, of which over 630 are qualified professionals, Tricor delivers critical functions to 50,000 clients, including over 40% of the Fortune Global 500 companies.

Tricor is committed to promoting sustainability through targeted technological development and innovation. The company embarked on a comprehensive digital transformation strategy, addressing pain points for staff, clients and partners across nearly all of its business lines including accounting, payroll, company secretarial, internal finance, governance, risk and compliance. Spearheaded by the hands-on leadership of Group CEO and Group CFO/ COO, Tricor launched a new digital-led operating model and implemented a Shared Service Center (SSC), Tricor ace, to deploy cutting-edge robotics processing automation and optimization technologies.

Tricor ace serves over 500 clients supporting six service lines, over 20 processes across 9 markets in Asia and processes over 22,000 transactions every month. Tricor ace has created over 250 new jobs in Malaysia over the past year and yielded a 50% cost saving for clients. Tricor’s best-in-class processes, solid infrastructure and deep industry experience have empowered clients to maintain maximum efficiency, agility and compliance in the face of increasingly complex operating environments

Future Direction
Given its proven track record and economic situation, Tricor will shift its focus towards pricing, new products/ digitalization, and value creation through mergers and acquisitions.

Tricor’s future direction includes implementing pricing governance, monitoring and control in the long term, while tactically optimizing pricing by reducing dispersion and cohorts/ vintage for maximum recoverability in the short term. The company also plans to further the digitalization of customer experience and enterprise using the digital client portal, ‘Tricor Red’. Tricor also plans to redesign the coverage model with key account management supported by pricing and customer segmentation, new product development, as well as commercial cross-selling/ up-selling and churn management. Tricor will continuously improve its operational efficiencies through the use robotic process automation (RPA) and shared services center (SSC). The company’s priorities is Mainland China’s outbound businesses through value-added services from Tricor Richful Deyong; integration with partners to drive Japan outbound businesses; development of trust, tax and governance, risk and compliance (GRC) capabilities in Singapore; and a revamp of the business model for offshore business.

CORPORATE EXCELLENCE CATEGORY

Tricor Services (Malaysia) Sdn Bhd

Information about the Company
Tricor Group’s vision is to be the leading business expansion specialist in Asia. With global knowledge and local expertise in business, corporate, investor, human resources & payroll, corporate trust & debt services, fund administration, and strategic business advisory, Tricor helps its clients expand their businesses effectively and sustainably.

Tricor’s advantage comes from deep industry experience, committed staff, technology-driven processes, standardized methodologies, constant attention to changes in laws and regulations and wide industry contacts. Tricor is uniquely positioned to unlock the potential of its clients’ businesses, helping them stay one step ahead of today’s diverse and fast evolving regulatory environment. Tricor’s core values are collaboration, passion, integrity, agility and care.

Corporate Culture & Company Activities
Tricor is committed to being a good corporate citizen, a responsible employer and to empower its workforce. Tricor’s CSR activities cover a range of causes, including employee engagement and wellness, diversity and inclusion, gender equality, sustainability and environmental protection, community outreach, and support for the disadvantaged, including youths and the elderly.

Tricor is a founding member of the Shared Value Project Hong Kong and is working with fellow corporates to future-proof business, foster trust and align business value with community needs, nurturing powerful and disruptive business models driven by purposeful profits.

Tricor promotes employee well-being by adopting company-wide policies. During the Covid-19 pandemic, Tricor implemented additional safety measures and mobilized flexible work arrangements for over 2,600 employees across the globe.

Tricor engages employees in the community through philanthropy, volunteerism, fundraising and charity work. The firm purchased 30,000 surgical masks and engaged volunteers to help distribute them to the needy in Hong Kong.

Tricor also fosters diversity and inclusion and is committed to recruiting, developing and promoting a diverse workforce while providing unique opportunities across its offices and functional areas.
Achievements & Impact
Strategically headquartered in Hong Kong SAR, Tricor currently operates across a network of 49 offices across 22 countries/ territories. With 3,000 employees, of which over 630 are qualified professionals, Tricor delivers critical functions to 50,000 clients, including over 40% of the Fortune Global 500 companies.

Tricor is committed to promoting sustainability through targeted technological development and innovation. The company embarked on a comprehensive digital transformation strategy, addressing pain points for staff, clients and partners across nearly all of its business lines including accounting, payroll, company secretarial, internal finance, governance, risk and compliance. Spearheaded by the hands-on leadership of Group CEO and Group CFO/ COO, Tricor launched a new digital-led operating model and implemented a Shared Service Center (SSC), Tricor ace, to deploy cutting-edge robotics processing automation and optimization technologies.

Tricor ace serves over 500 clients supporting six service lines, over 20 processes across 9 markets in Asia and processes over 22,000 transactions every month. Tricor ace has created over 250 new jobs in Malaysia over the past year and yielded a 50% cost saving for clients. Tricor’s best-in-class processes, solid infrastructure and deep industry experience have empowered clients to maintain maximum efficiency, agility and compliance in the face of increasingly complex operating environments

Future Direction
Given its proven track record and economic situation, Tricor will shift its focus towards pricing, new products/ digitalization, and value creation through mergers and acquisitions.

Tricor’s future direction includes implementing pricing governance, monitoring and control in the long term, while tactically optimizing pricing by reducing dispersion and cohorts/ vintage for maximum recoverability in the short term. The company also plans to further the digitalization of customer experience and enterprise using the digital client portal, ‘Tricor Red’. Tricor also plans to redesign the coverage model with key account management supported by pricing and customer segmentation, new product development, as well as commercial cross-selling/ up-selling and churn management. Tricor will continuously improve its operational efficiencies through the use robotic process automation (RPA) and shared services center (SSC). The company’s priorities is Mainland China’s outbound businesses through value-added services from Tricor Richful Deyong; integration with partners to drive Japan outbound businesses; development of trust, tax and governance, risk and compliance (GRC) capabilities in Singapore; and a revamp of the business model for offshore business.