The ICAEW Mainland China & South-East Asia Business Challenge is an annual business case challenge organised by Institute of Chartered Accountants in England and Wales (ICAEW), sponsored by Deloitte South-East Asia. After achieving victory in the local round ICAEW Accounting and Business Case Challenge 2024, Team Ting Capital represented Singapore to compete against 10 other elite teams from top universities across China, Indonesia, Malaysia, Singapore and Vietnam.

Comprising students from SMU’s School of Accountancy, Lee Kong Chian School of Business, together with one student from Nanyang Business School, the team clinched the champion title at the competition grand finals held on 11 May 2024.

In previous years, all teams received the opportunity to compete in a hosting country for the regional round and work together on the case in each other’s presence. This year’s case was held in Jakarta, Indonesia.

Participants took on the role of business advisors to a client firm and came up with innovative business strategies and recommendations with an element of ESG. All teams were given 90 minutes to analyse the case and prepare for a six-minute presentation, followed by a two-minute Q&A segment. Throughout the competition, there were a few sustainability segments which helped students learn more about the UN Sustainable Goals, as well as the opportunity to listen to a talk conducted by a Deloitte partner, who shared his experiences and journey in the industry.

At this year’s competition, the team was required to present three curated recommendations surrounding different aspects of the client’s business: from the company's current standing and its market landscape to the feasibility of different projects through qualitative and quantitative considerations, and lastly the ESG aspect of the business and proposed project.

The team split themselves into three groups, each specialising in an expected component task of the case: a qualitative, a quantitative and an ESG segment. This tactic helped the team to better streamline their efforts so that they would be well-versed in each of their segments. It also helped the team to better recognise each of their roles during the case, minimising deliberation time on the actual day.

Communication during the case was also key, given the vast amount of information provided and limited time available. The team had foreseen this as a potential issue and brainstormed ways to better communicate information with one another. This led the team to agree to divide the information based on each of their parts.

The team also leveraged each other's skills and experiences while using critical thinking to develop their proposal. By putting themselves in the shoes of the client, the team curated their presentation to be quick and concise, listing only relevant information to the question in their slides. At the same time, they emphasised the justification and relevance of their recommendations, making clear to the client of their thought processes and expected outcomes.

According to the organisers of the ICAEW Mainland China & South-East Asia Business Challenge, the team’s teamwork, confidence, show of technical knowledge, thought processes and quick responses to questions, impressed the panel of judges, comprising veterans and professionals in the accountancy and finance professions. For their efforts, Team Ting Capital emerged as the Regional Champion in this challenge and was awarded with a cash prize of SGD 7,500.

The SMU team members share some of their thoughts here:

Adriel Tay, Year 3, Lee Kong Chian School of Business

“It was an eye-opening experience participating in a regional competition with competitors from other regions of South-east Asia and China. The entire competition process was enriching and helped me better understand the workflow from a project’s preparation, to execution and lastly presentation.”

Neo Yuan, Year 2, School of Accountancy

“I am extremely honoured to represent Singapore in a regional business challenge. The experience helped me gain a comprehensive understanding of the financial, strategic and ESG aspects of the role of an esteemed ICAEW certified business consultant.“

Trevor Tan, Year 4, School of Accountancy

“This is my first and last time participating in a case competition. Going into an advisory role after graduation, this case competition has helped broaden my mind and polished my thought processes. I am also thankful that my team had great synergy and excelled not only at the national but regional round!”

Nicholas Tan, Year 4, School of Accountancy

“Emerging as Grand Champions was great, but the true prize was having the opportunity to meet like-minded individuals from all over SEA and learn from them! I was also thrilled to be awarded the Best Presenter – a fairytale culmination of my four years in university.”

Lim Ji Xuan, Year 3, Lee Kong Chian School of Business

“For me, this competition was a memorable experience. It emphasised the importance of a diverse group of team members from different backgrounds, as well as building on one another’s strengths!”

Hubert Lim, Year 2, Nanyang Business School

“As a local exchange student at SMU, I was intrigued to attempt a case with the team . It was an eye-opening experience for me to be part of this amazing team with diverse perspectives, skill sets, and approaches, setting us apart from the rest of the competitors.”

Our heartiest congratulations to Team Ting Capital for winning Regional Champion at the ICAEW Mainland China & South-East Asia Business Challenge 2024!