Our expertise

Retail companies face a number of challenges. Some are jurisdiction specific. In Singapore, labour shortages and rental costs are currently hot topics. Globally, intensified competition, strong pressure on margins, commodity price inflation, issues related to global sourcing, reinforcement of brand identity and the implementation of a differentiation strategy while improving the shopping experience and developing a multichannel approach are all provide significant challenge.

The players involved are faced with major structural transformation issues. Mazars understands these issues and has gathered a global team of experts in accounting, finance, taxation and consulting with first hand retail knowledge to help companies handle these challenges.

Our record of delivering value to a wide range of clients, from small operators to the world’s largest retailers, is based on deep industry knowledge and advanced technical abilities. Our professionals understand both the key retail and distribution market sectors and our clients’ specific business needs to help them address critical factors affecting their business. 

               

"I worked with Mazars in Singapore for six years and over that time they established a strong relationship with my finance and operational teams. The high level of commitment and the service flexibility provided by the Mazars team made them a pleasure to partner with. They were always thoroughly professional and they certainly know the retail sector, which allows them to add real value. With Mazars' full range of skills and advice, I always had a good experience."

CFO Asia, Promod (2010-2016)

Launching and supporting your retail operations in Singapore:

We can support you in establishing your retail operations in Singapore and once the doors are open we can support your operational teams and headquarters with the financial processes, management information, HR, compliance and all other services necessary to facilitate your success in Singapore.

  • Incorporating an entity
  • Bank relationships
  • Immigration support for expatriates work visas for foreign workers
  • Nominee director, company secretarial services and compliance with the Singapore Companies Act
  • GST registration and ongoing GST compliance
  • Point of Sale to bank reconciliation
  • Monthly management accounts on software of your choice or utilising Xero’s cloud based accounting solution
  • End to end workforce management solution covering hiring, rostering, performance management and payroll. We have chosen to work with Roubler to provide you a best in class solution.
  • Year-end financial statements in compliance with Singapore Financial Reporting Standards (SFRS)
  • First point of contact liaison with your appointed auditors
  • XBRL filing
  • Withholding tax returns
  • Corporation tax Compliance

Global solutions to help retail companies reach their goals:

Aligning organisations with new market opportunities

  • Financial advisory (capital increase, initial public offering, transaction support);
  • External growth and strategic partnership assistance and advisory (M&A, due diligence);
  • Financial, legal and tax support for the establishment of subsidiaries in emerging and growing markets, taking local specificities into account;
  • Support for safeguarding, structuring, optimising and documenting transfer prices;
  • Assistance for the disposal of non-strategic assets and business restructuring.

Securing Operations | Improving Risk Management

  • Assessing the quality of providers and auditing third parties;
  • Establishing a legal risk framework;
  • Reviewing contractual obligations and monitoring franchisees (compliance, financial reporting, etc.);
  • Strengthening control over distribution networks;
  • Identifying and preventing fraud risks;
  • Defending financial interests in the context of disputes or litigation.

Improving Performance

  • Working capital requirement (WCR) and cash management optimisation;
  • Supply chain securitisation and optimisation;
  • Stock control and inventory management improvement;
  • Establishment and improvement of commodity and currency hedging strategies;
  • Supporting companies’ competitiveness and image through expertise in the areas of environment, safety and social responsibility.

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