KPMG eyes up to US$4 billion from IT Advisory

Date: 16-05-2007
Source: Bernama

KPMG International, the global network of professional firms providing audit, tax and advisory services, expects a revenue of up to US$4 billion from its global information technology (IT) advisory segment in the next 18 months.

Its global and Asia Pacific partner in charge of IT advisory services, Egidio Zarrella, said the segment was among the biggest service lines under the advisory category. "Our real problem is that we do not have enough partners and staff. But we are recruiting them quickly. "KPMG globally has 300 partners and probably needed another 100 partners for IT advisory alone," he told reporters at the KPMG Global IT Advisory Partners Summit 2007 here today.

Minister of Science, Technology and Innovation, Datuk Seri Dr Jamaludin Mohd Jarjis officiated at the opening of the summit.

KPMG Malaysia's senior partner Kuah Poh Keat said locally, the firm has undergone significant growth in recent years and it was currently in second position in terms of the number of clients in the audit market share.On a different note, Quah said the resignation of the firm's managing director of financial advisory services, Datuk Gan Ah Tee, would not leave a big dent on the business.

"There will be a slight impact on corporate finance but the other eight business lines are very active as well.

"KPMG is a global business. It (Gan's resignation) will not have much effect," he said. Earlier, Jamaludin said although Malaysia may not enjoy the abundance of a skilled labour pool as compared to veteran outsource hubs like India and China, its potential as an IT global outsourcing hub was still greatly underestimated.

The text of his speech was read by Multimedia Development Corp chief executive officer Datuk Badlisham Ghazali. He said with solid and reliable infrastructure networks, Malaysia was an industrialised nation with access to technological excellence as well as energy and natural resources.

"Its location in South-East Asia along transport and trades routes means a proximity to markets. "It is competitive in terms of cost and affordability and home to a young, skilled workforce," he said. He said Malaysia would hold its International Advisory Panel meeting in the next two days to advise the government on Multimedia Super Corridor Malaysia's future directions.