KUALA LUMPUR: YYC, a financial services provider, today announced the acquisition of a significant shareholding in MYWave, a pioneering HR and payroll solutions provider in Malaysia.

This investment is set to significantly enhance YYC’s service offerings, particularly in payroll outsourcing, thereby advancing digitalisation in tax and payroll services.

YYC’s investment in MYWave underscores the importance of embracing digital solutions in HR and payroll.

YYC Group CEO Datin Yap Shin Siang shared that digitalisation is the cornerstone of modern business efficiency, and the acquisition of MYWave is a strategic move for the organisation.

“With our investment in MYWave, we are not just welcoming another valuable partner; we are committing to a future where HR and payroll processes are seamlessly integrated with technology. Our goal is to elevate our clients’ operational capabilities by equipping them with these advanced digital solutions that will drive significant value to the stakeholders,” she said.

She added that this acquisition represented a major step towards achieving that vision, and reflects both the organisations’ dedication to driving innovation and excellence in business advisory services.

The collaboration between YYC and MYWave is set to bring mutual benefits, leveraging each other’s strengths to deliver unparalleled solutions to clients. MYWave CEO Khoo Siew Ling expressed that MYWave’s extensive offerings, including payroll outsourcing and Cloud HRMS, align effectively with YYC’s mission to simplify business processes for its clients.

“Payroll outsourcing enables firms to distribute the cost of hiring an internal payroll department, reducing the financial burden on businesses. Partnering with YYC to enhance HR service technology and tax accounting capabilities is a natural fit for all,” said Khoo, adding that together, they seek to empower Malaysian businesses by adopting digital solutions to drive efficiency, transparency, and growth, which they strongly believe is a great move that will benefit their customers, employees and shareholders.

As YYC and MYWave embark on this transformative journey, this acquisition is poised to set new benchmarks in the HR and payroll industry, providing businesses with robust, reliable, and scalable solutions.