An alumnus’ gift for tomorrow’s accounting leaders

Text: Sadia Roohi

When Mr Chio Kian Huat was a young Commerce undergraduate at Nanyang University, the predecessor of NTU Singapore, he received a local bursary in his final year. This support eased his financial burden and paved the way for him to become the first graduate in his family in 1980.

His classmate and first business partner, Mr Lim Lee Meng, received the same support throughout all three years of his studies.

That experience of having someone extend a hand at a moment when it truly mattered stayed with both of them.

"Education opens doors," says Mr Chio, Senior Partner and Founder of RSM Singapore. "And when someone helps you along the way, it creates a sense of responsibility to help others in turn. That ripple effect can transform communities."

Senior Partner and Founder of RSM Singapore Mr Chio Kian Huat (3rd from left), with (from left), RSM Singapore’s Senior Advisor Mr Teo Cheow Tong and Deputy CEO Mr Derek How, NBS Dean Prof Yang Jun, NTU Chief Development Officer Ms See E’jin, and NBS’s Head of Division of Accounting Assoc Prof Premila Gowri Shankar.

It is in that spirit, and to mark RSM Singapore’s 40th anniversary, that the firm established the RSM Endowment Scholarship Fund of S$4 million in July 2025 to support nine local institutes of higher learning, including the establishment of the RSM Singapore Financial Scholarship at NTU Singapore.

The scholarship aims to empower eligible students from less privileged backgrounds who are pursuing Accountancy at Nanyang Business School by providing greater access to education. It was the largest gift made by RSM Singapore and is also one of the largest gifts received by the business school.

Mr Chio (2nd from right) and his staff at NTU’s Wee Cho Yaw Plaza during his visit to NBS on 14 November 2025.

The people-centric leader

The generosity of Mr Chio reflects the giving culture he has built in his company. Every month, each staff member will contribute a comfortable amount to a shared fund, and the firm matches it dollar for dollar.

At the end of each year, the total donations are channelled to Community Chest in Singapore. Separately, a portion of the monthly profits is set aside for charitable organisations outside the Community Chest's purview.

Mr Chio also leads small fundraising initiatives within the firm, ensuring that giving remains a shared effort rather than something done quietly in the background. 

"Participating in giving together fosters closeness within the company and a family-like spirit," he says. "It creates a sense of doing something meaningful beyond the work itself. That collective spirit becomes part of our culture."

Mr Chio Kian Huat leads with a people-first philosophy, fostering a culture of giving at RSM Singapore.

His brand of leadership stands out. When the COVID-19 pandemic brought the world to a standstill in 2020, many professional services firms quietly retreated, waiting for the storm to pass. Mr Chio, however, gathered his team and told them to pick up the phone.

"Let's call our clients," he said. "Not to talk business. Just to ask: how are you doing? How can we help?"

There were no billing and fee arrangements behind such calls. They were simply the instinct of a man who has always believed that the most important thing a trusted adviser can offer, especially in difficult times, is their presence.

He recalls: “Everyone's health, livelihoods and plans were upended overnight. We have been through crises before, such as the Asian Financial Crisis, dot-com crash, and the Global Financial Crisis. What we have learnt each time is that during such periods, business owners need someone they can talk to honestly. Someone who will listen and help them think clearly about what to do next."

It is this people-first quality that has defined Mr Chio’s approach to leadership for over four decades in public accounting.

Those who know Mr Chio well describe his desire to help as something intrinsic. It is not a posture he adopts in client meetings or a value statement on a website. It is just who he is.

He draws intellectual grounding for this from Konosuke Matsushita, the founder of Panasonic, whose book Not for Bread Alone outlines a vision of business that reaches far beyond profit.

“Put people before profits. By taking care of the community first, the business can grow, because if your staff do well, they can help the business go further,” he explains.

Former staff of RSM Singapore regularly return to express gratitude for what they experienced during their years at the firm. Some have gone on to build their own businesses, while others refer clients to Mr Chio.

"When you genuinely support and invest in people, they naturally give back, creating a cycle of trust and loyalty," he explains.

Mr Chio remains personally hands-on in his advisory work, sitting in on difficult conversations and taking on pro bono engagements for clients who need support but cannot afford it.

Ask Mr Chio how he would like to be remembered, and he answers without hesitation: "I would like to be remembered as someone who has built a firm that lasts for generations – a firm with a heart for our people, our clients, and our community. I hope my actions inspire student beneficiaries to pay it forward. These students will become leaders who value integrity, empathy, and the drive to help others as they progress in their careers."