Since founding the company in 1985, 70-year-old Mr Chio Kian Huat has led RSM Singapore for four decades. In an exclusive interview with Lianhe Zaobao, when asked about the secret to his energy, Mr Chio jokingly said it was probably because he’s a “workaholic”. (Photo by Chen Fuzhou)
 

Singapore, 25 July 2025 – Despite being in his seventies, Mr Chio remains remarkably energetic, striking many as far younger than his age. This youthful vitality is often the first thing people notice about the founder of local accounting and advisory firm RSM Singapore.

Since founding the firm in 1985, Mr Chio has led RSM Singapore through 40 years of development. When asked about his secret to staying energetic in an interview with Lianhe Zaobao, Mr Chio jokingly replied, "Maybe it's because I'm a workaholic."

Before starting his own business, he held two careers. Mr Chio recalls being extremely diligent from the start of his working life, clocking more than 16 hours every day, beginning at 7 a.m. and often among the last to leave the office.

This work ethic may be deeply rooted in his upbringing. As a child, Mr Chio spent much of his time at his father’s shop. From the age of six, he helped out at the family’s liquor store whenever he had spare time.
 

He said, "I would get up before 7 a.m. to help open the shop, then head to school. After school, I would return to help again, and when the shop closed at 10 p.m., I would clean up the storefront. Only after that could I rest. You could say that before I officially started working, I had already been an apprentice at home for 12 years."

This immersive childhood “apprenticeship” didn’t just sharpen Mr Chio’s business instincts; it also laid the foundation for his financial and operational management skills. He recalls, “Back then, my father still kept accounts in a cash book, all in Hokkien. Even today, I still use Hokkien when calculating numbers in my head.”

That early interest in “accounting” inspired him to major in the subject. After graduating from university, he began his career at an international accounting firm. At his second job, Singapore was on the brink of the 1985 recession, and the construction company where he served as finance director was also hit by a severe financial crisis.
 

Rejecting Sole Ownership, Embracing Joint Management

After successfully helping his former employer navigate financial troubles, Mr Chio made a bold move: he stepped out of his comfort zone to start his own company. His goal was to apply his crisis management experience to a wider range of businesses, helping more clients overcome adversity.

Reflecting on his motivation, Mr Chio admitted he was “a bit stubborn”. He has always believed that a business should not be owned by a single individual but managed collectively. From day one, RSM Singapore was founded on a "multi-partnership" model, ensuring stability even if he were absent or stepped back.
 

He said, "But in reality, I didn't really start to take leave until last year. Before that, I only took three days off per year at most. I was a real workaholic."

Though self-deprecating, his words also reflected a deep dedication to his craft.

The firm was originally named Chio Lim & Associates, after his and his co-founder’s surnames, later rebranded as RSM Chio Lim. Last year, he officially changed the name to RSM Singapore. “The company should belong to everyone, not just me,” he explained. “That’s why I decided to remove my name.”

Today, RSM Singapore stands among Singapore’s leading accounting firms, with subsidiaries in Malaysia and China. Mr Chio proudly notes that 40 of China’s top 500 companies are among its clients.

Looking back on the 40-year journey, the company has gone through numerous cycles of global economic turmoil, including the 1997 Asian Financial Crisis, the 2000 dot-com bubble burst, the 2008 Global Financial Crisis, and the 2020 COVID-19 pandemic. Through it all, Mr Chio has held firm to one conviction: “In crises, opportunities often lie.”
 

"We may not be able to solve a company’s business problems directly, but we can assist them in sorting out their financial situation, streamlining their cash flow, and communicating with banks to facilitate financing."

Mr Chio recalled, "After the 1998 financial crisis, we also assisted some companies in successfully completing IPOs (initial public offerings)."
 

Many clients who first sought help during tough times have stayed on, with some remaining loyal for 30 to 40 years.

Yet as the Chinese proverb goes, “It’s difficult for a doctor to heal himself.” While helping others through financial hardship, Mr Chio faced struggles of his own, particularly with limited funds.
 

"When the company first started, I only had $25,000 in my bank account. I overdrew $15,000 from the bank and took out a $40,000 loan to renovate the office and purchase equipment... My family couldn't afford to support me. My father's shop was demolished, and my mother had to work as a hawker at a hawker centre to make ends meet."
 

The renovated office, which cost $40,000, impressed visitors from the start. Mr Chio recalled that the colour scheme and interior design made people feel as though they were stepping into a design studio. This professional image created strong first impressions and helped the business quickly gain traction.

Still, his personal finances remained strained. It was only in the firm’s 16th year that he realised he was finally debt-free.

"I always insist on keeping personal and company accounts separate. Even if I'm short of money, the company must pay salaries and bonuses on time."

As a “workaholic,” he demanded high standards of himself but never imposed the same pressure on his staff. From 1998 to 2000, the firm ranked among Singapore’s top three for IPO completions. But as the workload grew, so did employee stress. Concerned about burnout, he made the resolute decision to reduce the number of IPO projects.

This compassion stems not only from his appreciation for talent but also perhaps from a sense of guilt. "In the past, I was so absorbed in work that I neglected my family. Even weekday dinners were almost entirely dominated by work-related social engagements."
 

"I try to make up for it now by spending as much time with my family as possible on weekends. If I could tell my younger self one thing, it would be this: make more time for your family. I learned that lesson too late, and the price was high." 
 

Advice to Future Successors: Balancing Career, Family and Health

He understands this industry is fast-paced and stressful and that maintaining a work-life balance is not easy, but he also increasingly understands that this overloaded work model is unsustainable and will not be helpful in retaining outstanding talent.

That is why his advice to future successors is clear: as senior management, overtime may be unavoidable, but the workday should never exceed 12 hours. Anything more, he warns, comes at the cost of health and family.

Even as he champions balance, Mr Chio continues to embrace new technologies, particularly artificial intelligence (AI). He believes the real challenge facing businesses today is not tariffs but AI. Companies that fail to keep pace, he warns, risk being left behind.

Even before the pandemic, RSM Singapore had completed its digital transformation and is now exploring ways to integrate AI into daily operations. The firm also promotes technical training at all levels, ensuring new employees are equipped with strong computer skills to meet the rising technological demands of future jobs.

 

This article has been translated into English and was originally published on Lianhe Zaobao. Click here to view the original.