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.

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