YYC to propel digital transformation in HR and payroll solutions through MYWave shares acquisition.
From left Yap Shin Siang, and Khoo Siew Ling during the signing ceremony of the Share Acquisition & Shareholders Agreement.
Kuala Lumpur, 1 July 2024 – YYC, a leading financial services provider in Malaysia, is thrilled to announce the acquisition of a significant shareholding in MYWave, a pioneering HR and payroll solutions provider in Malaysia. This strategic investment is set to significantly enhance YYC’s service offerings, particularly in payroll outsourcing, thereby advancing digitalisation in tax and payroll services.
In an era where digital transformation is a necessity, YYC’s investment in MYWave underscores the importance of embracing digital solutions in HR and payroll. The integration of advanced technologies in these domains streamlines operations, enhances accuracy, compliance, and improves employee satisfaction.
Datin Yap Shin Siang, Group Chief Executive Officer of YYC shared that digitalisation is the cornerstone of modern business efficiency, and the acquisition of MYWave is a strategic move for the organisation.
“With our investment in MYWave, we are not just welcoming another valuable partner; we are committing to a future where HR and payroll processes are seamlessly integrated with technology. Our goal is to elevate our clients’ operational capabilities by equipping them with these advanced digital solutions that will drive significant value to the stakeholders,” said Datin Yap.
“This acquisition represents a major step towards achieving that vision, and reflects both the organisations’ dedication to driving innovation and excellence in business advisory services.”
Cash flow and people are often described as the “blood” and “muscle” of a business, both are needed to run a healthy business. The combination of YYC and MYWave empowers businesses to secure both financial resources and the talented people they need to succeed.
The collaboration between YYC and MYWave is set to bring mutual benefits, leveraging each other’s strengths to deliver unparalleled solutions to clients. Ms. Khoo Siew Ling, Chief Executive Officer of MYWave, expressed that MYWave’s extensive offerings, including payroll outsourcing and Cloud HRMS, align effectively with YYC’s mission to simplify business processes for its clients.
“Payroll outsourcing enables firms to distribute the cost of hiring an internal payroll department, reducing the financial burden on businesses. Partnering with YYC to enhance HR service technology and tax accounting capabilities is a natural fit for all,” said Ms. Khoo.
“Together, we seek to empower Malaysian businesses by adopting digital solutions to drive efficiency, transparency, and growth, which we strongly believe is a great move that will benefit our customers, employees and shareholders.”
As YYC and MYWave embark on this transformative journey, this acquisition is poised to set new benchmarks in the HR and payroll industry, providing businesses with robust, reliable, and scalable solutions.
About YYC
YYC is a leading professional services firm in Malaysia, offering a comprehensive range of services that include accounting, taxation, audit, business advisory, and corporate services to businesses. Founded on a commitment to excellence and a passion for helping clients achieve their financial and business goals, YYC has grown significantly since its inception in 1974.
To date, YYC has grown its dynamic team to over 900 employees based in Kuala Lumpur, Selangor, Penang, Johor and Singapore, serving more than 20,000 clients across Malaysia, Singapore and other countries. YYC’s team of experts leverages extensive experience and industry knowledge to provide tailored solutions that meet the unique needs of each client with a focus on innovation, quality, customer satisfaction and making a positive impact in the business community.
For more information on YYC, please visit: https://www.yycadvisors.com/.
About MYWave
MYWave, a leading HR solutions company headquartered in Malaysia, was founded in 2005 and received MSC status from the Malaysian Government in 2006. Founded by experts in HR and people development, the company is dedicated to empowering clients to effectively manage and motivate their workforce.
Embracing the ethos, “Invest in your people and your people will invest in you,” MYWave not only believes in this philosophy but practices it daily. The company emphasizes continual self-improvement, expanding its service offerings since 2009 to include HR outsourcing, consultancy, payroll outsourcing, training and development, and its cloud-based HRMS system, emplX.
MYWave is committed to simplifying and optimizing personnel management processes through innovative tools while providing the skills, expertise, and solutions needed to foster employee empowerment and growth. Their mission is to offer affordable and user-friendly solutions that empower SMEs to adopt technology and compete effectively in both local and international markets.
For more information on MYWave, please visit: https://mywave.biz/.
