Eldred Wee: Inside Southeast Asia’s SME Gold Rush, Double Books & the Roll-Up Playbook – E660

Eldred Wee, Founder of Edenity, joins Jeremy Au to unpack why corporate services and accounting firms sit at the center of Southeast Asia’s next wave of SME acquisitions. They explore how Eldred’s early career in Big Four audit shaped his ability to spot incentives, fraud, and double or triple books, and why these realities define investing in the region. The conversation covers the rise of roll-ups in accounting and corporate services, why organic growth is hard for B2B services in Southeast Asia, and how aging founders and low digitization are creating a narrow transition window for buyers. Eldred also shares why price arbitrage alone rarely works, how culture and trust determine post-deal success, and why relationship-driven execution matters more than capital in small business M&A.

04:33 Big Four audit trained judgment, not just rules: Eldred learned how incentives, weak controls, and human behavior enable fraud to persist over years.

09:21 Double and triple books are a regional reality: Separate records exist for tax, management, and true economics, shaping how investors must assess risk.

11:58 Accounting is at a transition point: AI and digitization are advancing fast while many traditional firms remain underprepared.

12:38 SMEs form the backbone of Singapore’s economy: Small firms drive close to half of GDP and most employment, making corporate services critical infrastructure.

14:20 Inorganic growth beats organic growth for B2B services: Fragmentation and regulation push buyers to acquire existing firms rather than scale from scratch.

18:47 Culture outweighs financials in small acquisitions: Employee loyalty and founder habits often determine post-deal success or failure.

29:12 Personal history shapes leadership and dealmaking: Eldred’s early life experiences reinforce his focus on trust, relationships, and long-term legacy.

Watch, listen or read the full insight at https://www.bravesea.com/blog/eldred-wee-inside-sme-deals

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Spotify

English: https://open.spotify.com/show/4TnqkaWpTT181lMA8xNu0T

Bahasa Indonesia: https://open.spotify.com/show/2Vs8t6qPo0eFb4o6zOmiVZ

Chinese: https://open.spotify.com/show/20AGbzHhzFDWyRTbHTVDJR

Vietnamese: https://open.spotify.com/show/0yqd3Jj0I19NhN0h8lWrK1

YouTube English: https://www.youtube.com/@JeremyAu?sub_confirmation=1

Apple Podcast English: https://podcasts.apple.com/sg/podcast/brave-southeast-asia-tech-singapore-indonesia-vietnam/id1506890464

#SMEacquisitions #SearchFunds #SoutheastAsiaBusiness #MergersAndAcquisitions #CorporateServices #AccountingAndFinance #RollUpStrategy #FounderTransitions #TrustInBusiness #BRAVEpodcast