TAR UMT Wins Big at Deloitte Tax Challenge

Tunku Abdul Rahman University of Management and Technology (TAR UMT) dominated the Individual category of the Deloitte Tax Challenge 2022 at the national level after bagging the Champion, 1st Runner-up, 2nd Runner-up, Merit Award, Best ACCA Presenter and Best ACCA Writer awards. 

At the competition’s finals on 17 November 2022, Vincent Lui Kok Leong emerged as the Champion in the Individual category, followed by Tan Hui Theng as 1st Runner-up, Eason Yip Chun Fai as 2nd Runner-up and Francis Tan Wei Hoong as Merit Prize winner. Vincent Lui and Hui Then were also named as Best ACCA Presenter and Best ACCA Writer respectively. At the same time TAR UMT won the 2nd Runner-up placing and Best ACCA Writer award in the Team category. All the winners from TAR UMT are currently pursuing their Bachelor of Commerce (Hons) programme. 

Having emerged Champion at the national level after competing with more than 1,000 participants from 35 institutes of higher learning in the country, Vincent Lui will be representing Malaysia at the Deloitte Southeast Asia Tax Challenge 2023 in the Individual category.

Vincent Lui who won a cash prize of RM3,800 and trophies after emerging Champion and Best ACCA Presenter in the Individual category of the Deloitte Tax Challenge 2022 (national level). 

The competitive TARCian entered the competition to challenge his limits and abilities. “The competition was intense in terms of time limitation. For the final stage, we had to do a written assessment and then do a presentation in front of the judges all within 120 minutes. I was very focused to ensure I understood what the judges were looking for in order to present those required points in my presentation. As a TAR UMT student, I not only have many opportunities to complete tasks with limited time but I have also learnt the skills to identify problems and issues and conceptualise effective and practical solutions to these issues. Plus, having excellent and helpful lecturers who are always willing to help and guide me is a huge part of my success,” he said. 

Besides the Deloitte Tax Challenge, TAR UMT also competed in the Deloitte Audit Business Challenge 2022 from 21 October – 5 November 2022 and gained victory as the Champion team. TAR UMT’s top team in the business challenge comprised Vincent Lui, Lee Sin Xuan and Soo En Yi. This business challenge aimed to test participant’s knowledge and understanding on audit and accounting and for this year, the competition attracted more than 800 participants from 35 institutes of higher learning in Malaysia. 

The students had to compete in three stages of the competition comprising multiple-choice questions, video presentation, completing a game related to audit processes and presenting in front of judges. 

The TAR UMT team which clinched the top placing at the Deloitte Audit Business Challenge 2022. (From left to right): Lee Sin Xuan, Vincent Lui and Soo En Yi. 

“This business challenge is by far the only audit related competition to be held in Malaysia. As final year students, we wanted to challenge ourselves to compete in a competition where we can use what we have learnt and gain in TAR UMT to achieve success. We are so happy to achieve our aim and it is also great to meet and interact with leaders in the industries,” Sin Xuan detailed. 

In terms of the challenges faced during the competition, En Yi explained: “The requirements were quite demanding and it was important that we understood each question well in order to provide the relevant answers and solutions. The good foundation we have built during our diploma years and the application techniques and skills to real industry problems we have learnt in our degree programme are the advantages we have as TARCians which led to our win. This is in addition to the great, helpful and knowledgeable lecturers who were with us throughout our journey, not only for this competition but in our time at TAR UMT. We are very grateful for our lecturers.”

The team won a cash prize of RM8,000, trophy and internship / job opportunity with Deloitte Malaysia upon graduation.