Financial services

KEY CONTACTS

Chow Khen Seng Partner and Industry Lead
 
+65 6715 1388
chowkhenseng@RSMSingapore.sg
 
Dennis Lee Partner and Deputy Industry Lead

 
+65 6594 7627
 

 

Registered and licensed fund management companies, financial advisers and funds are under continuous market and regulatory pressure. This, coupled with the dynamic nature of the industry – with its tightening regulatory environment, accelerating pace, and volatile markets – constantly challenges them to stay on top of their game. 

 

Stay on top of the game

cryptocurrency

Uber of banking

Uber of banking

Uber of banking

Uber of banking

 

CREATING VALUE ACROSS THE FUND LIFECYCLE

Managing a fund is a complex and a multi-faceted task; choosing the right service provider and adviser can be crucial in delivering your strategy. Fund managers need the right level of support and advice in relation to considerations such as where they base and organise their operations, domicile their funds, target and service prospective investors. 

Being part of a well-regulated sector, fund managers need to balance the need to pursue profits and respect compliance obligations.

 

EXPERIENCED UNDERSTANDING

Coupled with the technical expertise, industry knowledge and rich experience garnered from serving more than 150 funds and MAS-regulated entities, we understand your business models and are able to support fund managers across all aspects of the fund lifecycle. 

We perform audit, tax and advisory works, and also support fund managers in their financial reporting and compliance matters. This includes routine but critical backend tasks like accounting, payroll/ HR management, IT management, infrastructure planning and set up, as well as advising our clients on best corporate secretarial practices and corporate governance arrangements. 

This allows us to be trusted business advisors to your business needs and enables us to give timely, relevant and practical advice to support the achievement of your investment goals.

 

OUR SERVICES

 

Attestation and Audit >

  • Audit of funds, private equities, fund management companies, financial advisers, insurance brokers and trust companies
  • Monetary Authority of Singapore compliance reporting

Tax Optimisation >

  • Advice on tax optimal structure for funds
  • Annual tax compliance and tax filings
  • GST advisory for funds and fund management companies

Advisory >

  • Internal audit and regulatory compliance
  • Risk management and risk governance
  • Valuation
  • Technology risk advisory
  • Cybersecurity
  • Outsourcing assurance (OSPAR)

Business Solutions >

  • Company setup
  • Accounting services
  • Payroll services
  • Accounting regulatory and quarterly filings
  • IT pre-and-post-implementation support
  • IT maintenance and outsourcing

 

WE HELP YOU STAY AHEAD OF THE GAME

 

Uber of banking

To address the challenges, businesses must constantly fine-tune their supply chains, make their offerings more competitive and contain costs. Technology has also paved the way for businesses to achieve ruthless efficiency and open doors to new ways of engaging the consumer. With the playing field no longer restricted by boundaries, new markets are up for grabs.

rec propertyownersdev

 

rec estatemgmt

 

rec bce

150 funds and capital 
markets licensed entities
   Our clients manage
assets from S$1 million to over S$1.5 billion
   We deal with funds
of different structures

Our extensive experience is the result of our exposure to a large portfolio of fund clients. We also service private equity funds, Real Estate Investment Trusts (“REITs”) and real estate funds. The funds are in the form of unit trusts, limited partnerships and companies mainly situated in the Cayman Islands and Singapore.

 

 
 FS money

 
Specialised funds  

and capital markets since 2006.
   NPO NPO

  One-stop shop. 
Sizeable and dedicated specialist teams.
   FS money

  Proactive communication with key leaders
to identify potential issues before they arise.
   FS money

  Speed and responsiveness to queries and a hands-on
approach from senior members of the team to help solve problems.
  NPO youth

  Services of the 
highest standards


  FS money

  Extensive experience in local and international standards
as well as US GAAP 
  FS money

  Global presence in  
120 countries worldwide


  FS money

  High partner, director
and manager involvment. 

 

Whilst we are a multidisciplinary practice, our highly collaborative work environment means you can expect specialised yet holistic service delivery from us. We also offer you the convenience and attention of a single point of contact whose main aim is not only to coordinate the various services you require but also to be your trusted business adviser. Our internationally active clients can also depend on our RSM network affiliation with a presence in 120 countries and deep local expertise (with more than 41,000 professionals) to satisfactorily meet their regional and global expansionary needs.

 

I WOULD LIKE TO FIND OUT MORE!

  1. Stay up-to-date with industry trends
  2. Invalid Input
  3. Invalid Input
  4. Invalid Input
  5. Tell us about yourself
  6. Name
    Invalid Input
  7. Email
    Invalid Input
  8. Company
    Invalid Input
  9. Contact Number
    Invalid Input
  10. CAPTCHA(*)
    CAPTCHA
    Invalid Input

 

Array
(
    [0] => D:\WEB\RSMSingapore\index.php
    [1] => D:\WEB\RSMSingapore\includes\defines.php
    [2] => D:\WEB\RSMSingapore\includes\framework.php
    [3] => D:\WEB\RSMSingapore\libraries\import.legacy.php
    [4] => D:\WEB\RSMSingapore\libraries\platform.php
    [5] => D:\WEB\RSMSingapore\libraries\loader.php
    [6] => D:\WEB\RSMSingapore\libraries\legacy\error\error.php
    [7] => D:\WEB\RSMSingapore\libraries\joomla\log\log.php
    [8] => D:\WEB\RSMSingapore\libraries\joomla\log\entry.php
    [9] => D:\WEB\RSMSingapore\libraries\joomla\date\date.php
    [10] => D:\WEB\RSMSingapore\libraries\cms.php
    [11] => D:\WEB\RSMSingapore\libraries\vendor\autoload.php
    [12] => D:\WEB\RSMSingapore\libraries\vendor\composer\autoload_real.php
    [13] => D:\WEB\RSMSingapore\libraries\vendor\composer\ClassLoader.php
    [14] => D:\WEB\RSMSingapore\libraries\vendor\composer\autoload_namespaces.php
    [15] => D:\WEB\RSMSingapore\libraries\vendor\composer\autoload_psr4.php
    [16] => D:\WEB\RSMSingapore\libraries\vendor\composer\autoload_classmap.php
    [17] => D:\WEB\RSMSingapore\libraries\vendor\composer\autoload_files.php
    [18] => D:\WEB\RSMSingapore\libraries\vendor\ircmaxell\password-compat\lib\password.php
    [19] => D:\WEB\RSMSingapore\libraries\cms\class\loader.php
    [20] => D:\WEB\RSMSingapore\libraries\classmap.php
    [21] => D:\WEB\RSMSingapore\libraries\fof\include.php
    [22] => D:\WEB\RSMSingapore\libraries\fof\autoloader\fof.php
    [23] => D:\WEB\RSMSingapore\libraries\cms\error\page.php
    [24] => D:\WEB\RSMSingapore\libraries\cms\version\version.php
    [25] => D:\WEB\RSMSingapore\configuration.php
    [26] => D:\WEB\RSMSingapore\libraries\joomla\factory.php
    [27] => D:\WEB\RSMSingapore\libraries\cms\application\cms.php
    [28] => D:\WEB\RSMSingapore\libraries\joomla\application\web.php
    [29] => D:\WEB\RSMSingapore\libraries\joomla\application\base.php
    [30] => D:\WEB\RSMSingapore\libraries\vendor\joomla\application\src\AbstractApplication.php
    [31] => D:\WEB\RSMSingapore\libraries\vendor\psr\log\Psr\Log\LoggerAwareInterface.php
    [32] => D:\WEB\RSMSingapore\libraries\cms\application\site.php
    [33] => D:\WEB\RSMSingapore\libraries\joomla\input\input.php
    [34] => D:\WEB\RSMSingapore\libraries\joomla\filter\input.php
    [35] => D:\WEB\RSMSingapore\libraries\vendor\joomla\registry\src\Registry.php
    [36] => D:\WEB\RSMSingapore\libraries\joomla\application\web\client.php
    [37] => D:\WEB\RSMSingapore\libraries\joomla\uri\uri.php
    [38] => D:\WEB\RSMSingapore\libraries\vendor\joomla\uri\src\Uri.php
    [39] => D:\WEB\RSMSingapore\libraries\vendor\joomla\uri\src\AbstractUri.php
    [40] => D:\WEB\RSMSingapore\libraries\vendor\joomla\uri\src\UriInterface.php
    [41] => D:\WEB\RSMSingapore\libraries\vendor\joomla\uri\src\UriHelper.php
    [42] => D:\WEB\RSMSingapore\libraries\joomla\event\dispatcher.php
    [43] => D:\WEB\RSMSingapore\libraries\joomla\object\object.php
    [44] => D:\WEB\RSMSingapore\libraries\cms\application\helper.php
    [45] => D:\WEB\RSMSingapore\libraries\joomla\session\session.php
    [46] => D:\WEB\RSMSingapore\libraries\joomla\session\storage.php
    [47] => D:\WEB\RSMSingapore\libraries\joomla\session\storage\database.php
    [48] => D:\WEB\RSMSingapore\libraries\joomla\input\cookie.php
    [49] => D:\WEB\RSMSingapore\libraries\joomla\database\driver.php
    [50] => D:\WEB\RSMSingapore\libraries\joomla\database\database.php
    [51] => D:\WEB\RSMSingapore\libraries\joomla\database\driver\mysqli.php
    [52] => D:\WEB\RSMSingapore\libraries\joomla\database\query\mysqli.php
    [53] => D:\WEB\RSMSingapore\libraries\joomla\database\query.php
    [54] => D:\WEB\RSMSingapore\libraries\joomla\database\query\limitable.php
    [55] => D:\WEB\RSMSingapore\libraries\vendor\joomla\registry\src\AbstractRegistryFormat.php
    [56] => D:\WEB\RSMSingapore\libraries\vendor\joomla\registry\src\Format\Json.php
    [57] => D:\WEB\RSMSingapore\libraries\vendor\joomla\registry\src\Format\Ini.php
    [58] => D:\WEB\RSMSingapore\libraries\joomla\user\user.php
    [59] => D:\WEB\RSMSingapore\libraries\joomla\user\wrapper\helper.php
    [60] => D:\WEB\RSMSingapore\libraries\cms\component\helper.php
    [61] => D:\WEB\RSMSingapore\libraries\joomla\cache\cache.php
    [62] => D:\WEB\RSMSingapore\libraries\joomla\cache\controller.php
    [63] => D:\WEB\RSMSingapore\libraries\joomla\filesystem\path.php
    [64] => D:\WEB\RSMSingapore\libraries\joomla\cache\controller\callback.php
    [65] => D:\WEB\RSMSingapore\libraries\joomla\cache\storage.php
    [66] => D:\WEB\RSMSingapore\libraries\joomla\cache\storage\file.php
    [67] => D:\WEB\RSMSingapore\libraries\cms\plugin\helper.php
    [68] => D:\WEB\RSMSingapore\libraries\joomla\access\access.php
    [69] => D:\WEB\RSMSingapore\libraries\joomla\utilities\arrayhelper.php
    [70] => D:\WEB\RSMSingapore\libraries\joomla\language\language.php
    [71] => D:\WEB\RSMSingapore\language\en-GB\en-GB.localise.php
    [72] => D:\WEB\RSMSingapore\plugins\system\admintools\admintools.php
    [73] => D:\WEB\RSMSingapore\libraries\f0f\include.php
    [74] => D:\WEB\RSMSingapore\libraries\f0f\autoloader\fof.php
    [75] => D:\WEB\RSMSingapore\libraries\f0f\less\less.php
    [76] => D:\WEB\RSMSingapore\libraries\joomla\filesystem\file.php
    [77] => D:\WEB\RSMSingapore\libraries\joomla\filesystem\wrapper\path.php
    [78] => D:\WEB\RSMSingapore\plugins\system\admintools\admintools\main.php
    [79] => D:\WEB\RSMSingapore\libraries\cms\plugin\plugin.php
    [80] => D:\WEB\RSMSingapore\libraries\joomla\event\event.php
    [81] => D:\WEB\RSMSingapore\plugins\system\admintools\admintools\core.php
    [82] => D:\WEB\RSMSingapore\administrator\components\com_admintools\models\storage.php
    [83] => D:\WEB\RSMSingapore\libraries\joomla\model\model.php
    [84] => D:\WEB\RSMSingapore\libraries\legacy\model\legacy.php
    [85] => D:\WEB\RSMSingapore\plugins\system\admintools\admintools\pro.php
    [86] => D:\WEB\RSMSingapore\administrator\components\com_admintools\helpers\ip.php
    [87] => D:\WEB\RSMSingapore\plugins\system\jce\jce.php
    [88] => D:\WEB\RSMSingapore\plugins\system\nnframework\nnframework.php
    [89] => D:\WEB\RSMSingapore\plugins\system\modulesanywhere\modulesanywhere.php
    [90] => D:\WEB\RSMSingapore\plugins\system\jux_megamenu\jux_megamenu.php
    [91] => D:\WEB\RSMSingapore\plugins\system\regacymailing\regacymailing.php
    [92] => D:\WEB\RSMSingapore\plugins\system\directalias\directalias.php
    [93] => D:\WEB\RSMSingapore\plugins\system\cp\cp.php
    [94] => D:\WEB\RSMSingapore\plugins\system\logout\logout.php
    [95] => D:\WEB\RSMSingapore\plugins\system\debug\debug.php
    [96] => D:\WEB\RSMSingapore\plugins\system\log\log.php
    [97] => D:\WEB\RSMSingapore\plugins\system\remember\remember.php
    [98] => D:\WEB\RSMSingapore\plugins\system\highlight\highlight.php
    [99] => D:\WEB\RSMSingapore\plugins\system\sef\sef.php
    [100] => D:\WEB\RSMSingapore\libraries\cms\menu\menu.php
    [101] => D:\WEB\RSMSingapore\libraries\cms\menu\site.php
    [102] => D:\WEB\RSMSingapore\libraries\vendor\joomla\utilities\src\ArrayHelper.php
    [103] => D:\WEB\RSMSingapore\libraries\joomla\user\helper.php
    [104] => D:\WEB\RSMSingapore\libraries\cms\router\router.php
    [105] => D:\WEB\RSMSingapore\libraries\cms\router\site.php
    [106] => D:\WEB\RSMSingapore\libraries\joomla\string\string.php
    [107] => D:\WEB\RSMSingapore\libraries\vendor\joomla\string\src\String.php
    [108] => D:\WEB\RSMSingapore\libraries\vendor\joomla\string\src\phputf8\utf8.php
    [109] => D:\WEB\RSMSingapore\libraries\vendor\joomla\string\src\phputf8\mbstring\core.php
    [110] => D:\WEB\RSMSingapore\libraries\vendor\joomla\string\src\phputf8\substr_replace.php
    [111] => D:\WEB\RSMSingapore\libraries\vendor\joomla\string\src\phputf8\strcasecmp.php
    [112] => D:\WEB\RSMSingapore\plugins\system\nnframework\helpers\protect.php
    [113] => D:\WEB\RSMSingapore\plugins\system\nnframework\helpers\cache.php
    [114] => D:\WEB\RSMSingapore\plugins\system\nnframework\helpers\helper.php
    [115] => D:\WEB\RSMSingapore\plugins\system\nnframework\helpers\parameters.php
    [116] => D:\WEB\RSMSingapore\plugins\system\modulesanywhere\helper.php
    [117] => D:\WEB\RSMSingapore\plugins\system\nnframework\helpers\functions.php
    [118] => D:\WEB\RSMSingapore\plugins\system\nnframework\helpers\tags.php
    [119] => D:\WEB\RSMSingapore\plugins\system\nnframework\helpers\text.php
    [120] => D:\WEB\RSMSingapore\libraries\cms\library\helper.php
    [121] => D:\WEB\RSMSingapore\libraries\joomla\document\document.php
    [122] => D:\WEB\RSMSingapore\libraries\joomla\document\html\html.php
    [123] => D:\WEB\RSMSingapore\libraries\joomla\application\route.php
    [124] => D:\WEB\RSMSingapore\components\com_content\router.php
    [125] => D:\WEB\RSMSingapore\libraries\cms\component\router\base.php
    [126] => D:\WEB\RSMSingapore\libraries\cms\component\router\interface.php
    [127] => D:\WEB\RSMSingapore\libraries\joomla\language\helper.php
    [128] => D:\WEB\RSMSingapore\components\com_content\content.php
    [129] => D:\WEB\RSMSingapore\components\com_content\helpers\route.php
    [130] => D:\WEB\RSMSingapore\components\com_content\helpers\query.php
    [131] => D:\WEB\RSMSingapore\libraries\legacy\controller\legacy.php
    [132] => D:\WEB\RSMSingapore\components\com_content\controller.php
    [133] => D:\WEB\RSMSingapore\components\com_content\views\category\view.html.php
    [134] => D:\WEB\RSMSingapore\libraries\legacy\view\category.php
    [135] => D:\WEB\RSMSingapore\libraries\legacy\view\legacy.php
    [136] => D:\WEB\RSMSingapore\components\com_content\models\category.php
    [137] => D:\WEB\RSMSingapore\libraries\legacy\model\list.php
    [138] => D:\WEB\RSMSingapore\libraries\joomla\table\table.php
    [139] => D:\WEB\RSMSingapore\libraries\joomla\observable\interface.php
    [140] => D:\WEB\RSMSingapore\libraries\joomla\table\interface.php
    [141] => D:\WEB\RSMSingapore\libraries\joomla\access\rules.php
    [142] => D:\WEB\RSMSingapore\libraries\joomla\access\rule.php
    [143] => D:\WEB\RSMSingapore\libraries\cms\language\multilang.php
    [144] => D:\WEB\RSMSingapore\libraries\legacy\categories\categories.php
    [145] => D:\WEB\RSMSingapore\components\com_content\helpers\category.php
    [146] => D:\WEB\RSMSingapore\components\com_content\models\articles.php
    [147] => D:\WEB\RSMSingapore\libraries\cms\pagination\pagination.php
    [148] => D:\WEB\RSMSingapore\libraries\cms\helper\tags.php
    [149] => D:\WEB\RSMSingapore\libraries\cms\helper\helper.php
    [150] => D:\WEB\RSMSingapore\libraries\cms\pathway\pathway.php
    [151] => D:\WEB\RSMSingapore\libraries\cms\pathway\site.php
    [152] => D:\WEB\RSMSingapore\libraries\legacy\application\application.php
    [153] => D:\WEB\RSMSingapore\templates\rsm\html\com_content\category\default.php
    [154] => D:\WEB\RSMSingapore\libraries\cms\html\html.php
    [155] => D:\WEB\RSMSingapore\libraries\cms\html\behavior.php
    [156] => D:\WEB\RSMSingapore\libraries\cms\html\jquery.php
    [157] => D:\WEB\RSMSingapore\libraries\joomla\environment\browser.php
    [158] => D:\WEB\RSMSingapore\libraries\cms\layout\helper.php
    [159] => D:\WEB\RSMSingapore\libraries\cms\layout\file.php
    [160] => D:\WEB\RSMSingapore\libraries\cms\layout\base.php
    [161] => D:\WEB\RSMSingapore\libraries\cms\layout\layout.php
    [162] => D:\WEB\RSMSingapore\templates\rsm\html\layouts\joomla\content\category_default.php
    [163] => D:\WEB\RSMSingapore\libraries\cms\html\content.php
    [164] => D:\WEB\RSMSingapore\plugins\content\gmapfp\gmapfp.php
    [165] => D:\WEB\RSMSingapore\plugins\content\advancedtwitterembeddedtweets\advancedtwitterembeddedtweets.php
    [166] => D:\WEB\RSMSingapore\plugins\content\rsform\rsform.php
    [167] => D:\WEB\RSMSingapore\plugins\content\loadmodule\loadmodule.php
    [168] => D:\WEB\RSMSingapore\plugins\content\joomla\joomla.php
    [169] => D:\WEB\RSMSingapore\plugins\content\contact\contact.php
    [170] => D:\WEB\RSMSingapore\plugins\content\pagebreak\pagebreak.php
    [171] => D:\WEB\RSMSingapore\plugins\content\pagenavigation\pagenavigation.php
    [172] => D:\WEB\RSMSingapore\plugins\content\vote\vote.php
    [173] => D:\WEB\RSMSingapore\components\com_gmapfp\models\gmapfp.php
    [174] => D:\WEB\RSMSingapore\administrator\components\com_rsform\helpers\rsform.php
    [175] => D:\WEB\RSMSingapore\administrator\components\com_rsform\helpers\config.php
    [176] => D:\WEB\RSMSingapore\administrator\components\com_rsform\helpers\version.php
    [177] => D:\WEB\RSMSingapore\libraries\legacy\request\request.php
    [178] => D:\WEB\RSMSingapore\components\com_rsform\router.php
    [179] => D:\WEB\RSMSingapore\libraries\cms\component\router\legacy.php
    [180] => D:\WEB\RSMSingapore\templates\rsm\html\com_content\category\default_articles.php
    [181] => D:\WEB\RSMSingapore\libraries\joomla\document\html\renderer\module.php
    [182] => D:\WEB\RSMSingapore\libraries\joomla\document\renderer.php
    [183] => D:\WEB\RSMSingapore\libraries\cms\module\helper.php
    [184] => D:\WEB\RSMSingapore\modules\mod_easyaccordioncontent\mod_easyaccordioncontent.php
    [185] => D:\WEB\RSMSingapore\modules\mod_easyaccordioncontent\color.php
    [186] => D:\WEB\RSMSingapore\templates\system\html\modules.php
    [187] => D:\WEB\RSMSingapore\templates\rsm\html\modules.php
    [188] => D:\WEB\RSMSingapore\templates\rsm\index.php
    [189] => D:\WEB\RSMSingapore\libraries\cms\html\bootstrap.php
    [190] => D:\WEB\RSMSingapore\libraries\joomla\utilities\utility.php
    [191] => D:\WEB\RSMSingapore\libraries\joomla\document\html\renderer\modules.php
    [192] => D:\WEB\RSMSingapore\modules\mod_menu\mod_menu.php
    [193] => D:\WEB\RSMSingapore\modules\mod_menu\helper.php
    [194] => D:\WEB\RSMSingapore\templates\rsm\html\mod_menu\footerblock.php
    [195] => D:\WEB\RSMSingapore\templates\rsm\html\mod_menu\default_component.php
    [196] => D:\WEB\RSMSingapore\modules\mod_custom\mod_custom.php
    [197] => D:\WEB\RSMSingapore\templates\rsm\html\mod_custom\default.php
    [198] => D:\WEB\RSMSingapore\templates\rsm\html\mod_menu\default_url.php
    [199] => D:\WEB\RSMSingapore\libraries\joomla\filter\output.php
    [200] => D:\WEB\RSMSingapore\templates\rsm\html\mod_menu\default_urlf.php
    [201] => D:\WEB\RSMSingapore\templates\rsm\html\mod_menu\bottom.php
    [202] => D:\WEB\RSMSingapore\modules\mod_breadcrumbs\mod_breadcrumbs.php
    [203] => D:\WEB\RSMSingapore\modules\mod_breadcrumbs\helper.php
    [204] => D:\WEB\RSMSingapore\libraries\joomla\language\text.php
    [205] => D:\WEB\RSMSingapore\templates\rsm\html\mod_breadcrumbs\default.php
    [206] => D:\WEB\RSMSingapore\modules\mod_sharethis\mod_sharethis.php
    [207] => D:\WEB\RSMSingapore\modules\mod_sharethis\helper.php
    [208] => D:\WEB\RSMSingapore\templates\rsm\html\mod_menu\default.php
    [209] => D:\WEB\RSMSingapore\modules\mod_jux_megamenu\mod_jux_megamenu.php
    [210] => D:\WEB\RSMSingapore\modules\mod_jux_megamenu\helper.php
    [211] => D:\WEB\RSMSingapore\components\com_members\router.php
    [212] => D:\WEB\RSMSingapore\modules\mod_jux_megamenu\tmpl\default.php
    [213] => D:\WEB\RSMSingapore\modules\mod_search\mod_search.php
    [214] => D:\WEB\RSMSingapore\modules\mod_search\helper.php
    [215] => D:\WEB\RSMSingapore\components\com_search\router.php
    [216] => D:\WEB\RSMSingapore\templates\rsm\html\mod_search\default.php
    [217] => D:\WEB\RSMSingapore\templates\rsm\html\mod_menu\worldlocation.php
    [218] => D:\WEB\RSMSingapore\libraries\joomla\document\html\renderer\head.php
    [219] => D:\WEB\RSMSingapore\libraries\joomla\document\html\renderer\message.php
    [220] => D:\WEB\RSMSingapore\templates\rsm\html\layouts\joomla\system\message.php
    [221] => D:\WEB\RSMSingapore\libraries\legacy\response\response.php
    [222] => D:\WEB\RSMSingapore\administrator\components\com_acymailing\helpers\helper.php
    [223] => D:\WEB\RSMSingapore\administrator\components\com_acymailing\compat\compat3.php
    [224] => D:\WEB\RSMSingapore\administrator\components\com_acymailing\classes\cpanel.php
    [225] => D:\WEB\RSMSingapore\libraries\cms\html\select.php
)