In.Corp Group has been formed by combining a number of leading service providers, including Rikvin, one of the most established and recognized operators in Singapore. The company is known for its long-standing relationships with clients and a loyal base of 4000+ customers globally.

In.Corp’s core services for clients span the entire lifecycle of a corporation, from entity incorporation to ongoing maintenance work (corporate secretarial services, outsourced accounting, tax filing, payroll services, provision of nominee directors and registered office, and others) to winding up / strike-off services.

Known for its quality, responsiveness, competitive pricing, and strong knowledge base, In.Corp has long-standing relationships with clients and a loyal and sticky customer base.

To In.Corp Group

Market trends and drivers

The Singapore corporate services market is highly attractive and profitable, and lends itself well to consolidation and internationalization. A non-cyclical and defensible sector, robust growth in the corporate services sector in Singapore is driven by a number of factors, including economic growth, Singapore’s favorable business environment and regulatory regime and its solid reputation as a global business hub attracting corporate entities from around the world. 

Globally, the corporate services sector has witnessed consolidation trends, with plenty of successful precedents validating the consolidation thesis. Leading players have grown by realizing scale benefits, adding new service capabilities and cross-selling geographically. Similarly, the market in Southeast Asia is expected to be ripe for consolidation given the high degree of market fragmentation. Increasing regulatory compliance requirements on both businesses and service providers raises entry barriers and accentuates the importance of scale benefits.

Investment potential

In.Corp’s mergers have created a leading player in particular in the attractive SME space in Singapore. Its market leading position is entrenched by superior productivity capabilities driven by Rikvin’s proprietary ERP system. The investment thesis is further underpinned by high customer stickiness, conferring resilience, recurring demand, and strong cash generation and visibility.

Given the attractive market dynamics and In.Corp’s strong branding and market position, In.Corp is well-placed to become the regional leader via a buy-and-build strategy. Key value creation initiatives include driving revenue synergies (organic growth, cross-selling opportunities), productivity improvements (integration of ERP system and support functions across the platform), and further consolidation in Singapore and internationalization via pursuit of value accretive acquisitions.

Societal contribution

The icons illustrate the portfolio companies' positive societal contributions based on their solutions i.e. how their products and/or services solve key challenges expressed as the Sustainable Development Goals (SDGs)

Board of Directors

John Lim Chairperson
Brian Chang Board member
Yogesh Bhura Board member
Madhujeet Chimni Board member
Atin Bhutani Board member


Atin Bhutani CEO
Terence Ng COO
Celine Ooi CFO