Ascentium eyes India acquisitions to build Asia-focused global services platform. , ET Bureau Last Updated: Nov 02, 2026, 12:24:00 AM IST Singapore-headquartered Ascentium is looking to expand its India presence through acquisitions as it builds an Asia-focused global corporate services business. Backed by Hillhouse Investment, the firm has completed seven acquisitions in India since 2019 and is negotiating another, with plans to consolidate specialist firms and challenge established players in the market. Mumbai: Ascentium, a Singapore-headquartered professional services firm, is looking to expand in India through acquisitions, stitching together specialist professional services firms into a larger platform as part of its ambition to build an Asia-centric global corporate services business, group CEO Lennard Yong said. Just three years old, Ascentium, backed by private equity firm Hillhouse Investment, has rapidly expanded its presence to 27 markets, with about 3,000 employees. India, Japan, Singapore and Hong Kong are among the strategic markets central to the firm's growth, Yong told ET in an interview. "India is one of the key jurisdictions. It is virtually impossible to become the No. 1 player in APAC without a dominant presence here." The firm aims to establish a strong presence across Asia-Pacific, Europe, Middle East and Africa, he said. Ascentium's strategy hinges on helping Asian companies expand internationally while assisting foreign companies entering India and other Asian markets. Many of Ascentium's competitors are based in the US, UK and the Netherlands and have traditionally provided services to western businesses looking to expand into Asia. You May Like "We have set up from this side of the world, helping Indian, Singaporean, Malaysian and Hong Kong companies go international. I think it is time," Yong said. The group's India operations, rebranded Ascentium India after the Singapore-headquartered firm acquired InCorp in 2024, have nearly 350 employees, including more than 150 chartered accountants, across 17 offices in eight cities. "The platform has completed seven acquisitions in India since 2019 and is currently negotiating one more, with discussions underway for a couple of others," said Manish Modi, CEO of Ascentium India. Ascentium has evaluated more than 65 acquisition opportunities globally and completed 16, Yong said. In India, Modi said he had held 250 acquisition-related conversations over the past seven years, including at InCorp, reflecting the market's fragmentation, the difficulty of reaching agreements with local firms, and the group's selective approach to consolidation. For Yong, the opportunity lies in a structural gap in India's professional services sector, where the Big Four - PwC, Deloitte, KPMG and EY - dominate the upper end of the market, followed by firms such as BDO and Grant Thornton, leaving room for rivals with scale and global networks. A crucial differentiator, Yong said, is Ascentium's corporate structure. Unlike global accounting networks, where member firms operate as independent partnerships with their own profit-and-loss accounts, Ascentium is a single corporation. "Manish (India CEO) and I share a single P&L. He and his leadership team are incentivised on the same P&L as I am. If I don't get paid, he doesn't get paid," Yong said. "We are not partners; we are shareholders in a corporation. Manish and I have not received dividend distributions because we are reinvesting the cash to grow the company." Ascentium is creating its own data lake using expertise gained from corporate services engagements and intends to deploy agentic AI in specific business operations. Read More News on

InCorp Singapore rebrands to Ascentium Singapore, connecting clients to a wider ecosystem for growth. Published Oct 01, 2026, 05:00 PM Blending established local expertise with Ascentium's global capabilities, the rebrand also introduces Ignite by Ascentium, a new ecosystem designed to connect growing businesses to capital, capabilities and strategic partners. SINGAPORE, Oct. 1, 2026 /PRNewswire/ - InCorp Singapore, an Ascentium Company announced its rebrand to Ascentium Singapore today, marking a significant milestone in its evolution as part of Ascentium, a global business services organisation headquartered in Singapore. The transition brings InCorp Singapore under a unified Ascentium identity, combining the firm's established local expertise and longstanding client relationships with the capabilities of Ascentium's global network of more than 3,000 professionals across 58 cities in 27 markets. For clients, the rebrand represents continuity, where they will continue working with the same relationship managers they know and trust, supported by broader capabilities to support growth and expansion plans. Ascentium remains committed to providing clients with a more integrated experience. By connecting corporate services with specialist expertise across markets, Ascentium helps businesses navigate operational and regulatory requirements through a single, coordinated partner. One Ascentium, Greater Possibilities As part of this new chapter, Ascentium Singapore will also be introducing Ignite by Ascentium, an exclusive programme and expert network designed to bring businesses closer to the people, knowledge and opportunities that can support their next stage of growth. More insights into this initiative will be shared in phases over the coming months. KG Tan, CEO of Ascentium Singapore said, "As we become Ascentium Singapore, our ambition is not simply to introduce a new name. It is to build on the trust and relationships we have established with our clients and give them access to much more of what our wider organisation can offer. Businesses today are navigating increasingly complex challenges spanning regulation, technology, talent, capital and international expansion. They need more than a service provider. They need access to the right expertise, perspectives and connections at the right time. That is also the concept behind Ignite. We want to provide an avenue where clients can engage with experts, exchange ideas, build meaningful connections and discover opportunities across our ecosystem." The initiative reflects Ascentium's belief that professional services should go beyond individual transactions by creating long-term value through relationships, knowledge and access. The rebrand follows InCorp Global becoming part of Ascentium in 2024 and represents the next stage in bringing the Group's businesses, expertise, people and services together under a unified global identity. Ascentium's expanding international footprint enables its Singapore team to support businesses at different stages of growth, from establishing and operating in Singapore to expanding across multiple jurisdictions. About Ascentium Singapore Ascentium Singapore delivers an integrated ecosystem for those looking to establish their first office or expand their existing operations across our APAC locations. We are a leading provider of corporate solutions and business advisory equipped with diverse expertise and tailored advice that benefits businesses from all over the world. About Ascentium Ascentium is a leading global business services platform dedicated to helping businesses and individuals scale greater heights. Headquartered in Singapore, we drive extraordinary growth through expert people, purpose-led technology, and an unwavering commitment to service excellence. With over 3,000 professionals across 58 cities in 27 markets globally, we deliver integrated solutions in corporate services, finance and accounting, fund administration, human resources, and fiduciary and trust services. Serving more than 65,000 client entities across diverse industries, Ascentium combines specialised expertise with innovative, technology-enabled solutions to help clients navigate complexity and unlock new opportunities for sustainable growth. The issuer is solely responsible for the content of this announcement.