PETALING JAYA: Wills and trust specialist Rockwills International Group is entering the China market by expanding its estate planning and advisory services to cater for Malaysians with businesses and assets in that country.
A smart partnership with China Will Registration Center via its representing entity Guangdong Gongming Assets Management Co Ltd, will also see Rockwills expand its specialised estate planning services for Chinese business owners with assets such as property and investments in Malaysia.
China Will Registration Center is a well-established legal outfit in China. It is headquartered in Beijing and has offices in Shanghai, Guangzhou and other cities in the country.
Rockwills International Group CEO Azhar Iskandar Hew said increasing involvement of Malaysians and Chinese in businesses in each other’s country opened up a window of opportunity for Rockwills to provide its specialised and niche services that will be vital to safeguard assets, and business continuity and succession.
“As key-man individuals, particularly those owning family-owned businesses, amass wealth with growth in assets outside their home-base, the wealth distribution accumulation should be well managed and structured for business continuity and the well being of their family members,” he said in a statement today.
Business succession planning, which is an integral aspect of estate planning, is an essential component of risk planning for the business and for the owners. Azhar said, however, most of the business owners tend to underestimate its importance and rather focus on revenue generating, ignoring the possible downsides when they are no longer in charge.
Rockwills marked its advent into the China market by formalising a collaboration arrangement with China Will Registration Center. The smart partnership was sealed in a virtual joint-venture signing ceremony with group adviser (business) Low Wan Gem signing the agreement on behalf of Rockwills while China Will Registration Center was represented by its founder, Chen Kai.
Low said the combination of China Will Registration Center’s local knowledge of laws governing estate planning with that of Rockwills inhouse legal team’s rich, real-life experience of intricacies of estate matters in Rockwills’ 26-year history will be a boon for the partnership to deliver estate planning mutually beneficial for Chinese and Malaysian business owners.
China Will Registration Center’s network of offices and presence in various cities in China coupled with proven Rockwills well-designed and structured estate planning solutions will also provide the edge to effectively cater for the important needs businesses in both countries.
Azhar said Rockwills is excited with the potential this collaboration presents in terms of growth of its specialised estate planning and advisory services for business owners and the prospects for it to be springboard for further opportunities for such services to be expanded in other countries within the region.