Cross Border Asian Projects' Growing Footprint in Key Pan-Asian Markets

Our Client is an Asian e-commerce Group developing and providing contents and services to both B2C and B2B clients through various platforms in Mainland China, Hong Kong, Malaysia, Indonesia, Singapore.

Context of the Transaction

  • As part of its diversification and growth strategy, our client was looking to enter into a new business and markets in the e-commerce industry to leverage on its core products and clients’ base;
  • The Target Group is a pan-Asian e-commerce platform with a footprint in the main Asian countries;
  • With headquarters in Singapore and operations on the ground in all jurisdictions, the Target is considered as a unique opportunity to address the changing behaviours of both corporate and individual customers in this specific industry;
  • Competitive bidding process.

Mazars’ Expertise

  • A Singapore-based team involving financial and tax experts went through a virtual data room due diligence process supplemented by several workshops with the Target management; the team also relied on the local expertise of Mazars’ team in Thailand, Vietnam, Indonesia;
  • Key analysis focused on profitability by business lines, consistency of GAAP for revenue recognition between jurisdictions and transfer pricing matters.

Delivering Results

  • Project conducted within the strict 1.5-month timeline (combining virtual data room / Q&As);
  • Analysis of the drivers of profitability per business line (not prepared by Target) used as a basis by the Buyer to support the forecasts.