• Thu. Apr 18th, 2024

PrimeGlobal adds member firm in China and debuts in Sri Lanka

Global professional services association PrimeGlobal has in recent months welcomed two new member firms in Asia: Pengsheng in China, and Ranwatta & Co in Sri Lanka.

Headquartered in Southern China but operating nationally, Pengsheng is with 2,000 staff and 40+ offices one of the country’s larger accounting, financial advisory and consulting groups. The firm specialises in services including accounting, audit, restructuring, internal control, advisory, financial advisory, sustainability, and tax.

According to Pengsheng’s Managing Partner Yang BuXiang, joining PrimeGlobal is a milestone in the firm’s strategic expansion. “We look forward to establishing win-win cooperations with PrimeGlobal member firms worldwide,” he said.

Welcoming the firm to its association, George Guo, PrimeGlobal’s Executive Director for Asia Pacific, said: “Southern China is among the most dynamic and rapid growing economic regions in China. We are impressed by the strategic vision and drive of the Pengsheng leadership team, and its fast growth in recent years. Pengsheng’s broad range of services and market insight will benefit our association’s member firms worldwide.”

The bolt-on cements PrimeGlobal’s position as one of China’s leading players in the professional services landscape. The association’s other member firm in the country, Zhongxinghua, has over 2,700 staff.

Meanwhile, the addition of Colombo-based Ranwatta & Co marks PrimeGlobal’s debut in Sri Lanka.

Founded over 30 years ago, Ranwatta & Co is an established Sri Lankan audit firm providing audit services to small and medium-sized enterprises, bridging the service gap between the Big Four firms and smaller players in Sri Lanka. The team consists of 110 professionals with a range of expertise, covering assurance, taxation, management consultancy, accountancy, company secretarial, human resources, forensic and internal audits.

Guo stated: “Ranwatta & Co is a well-established full service firm and stood out in our search for an on the ground partner in the Sri Lankan market. We look forward to working together with them.”

Sumith Ranwatta, Senior Partner at Ranwatta & Co, added: “We are very pleased to join the PrimeGlobal association. We want to better serve our clients in Sri Lanka and help them grow beyond our borders. We are looking forward to establishing partnerships and collaborations with other member firms.”

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