Complex sentence: In 1948, the firm embarked on its first overseas engagement by working out a merger with Henry Hunter Bayne & Co. (HHB), which started its practice in the then-American controlled Philippine Islands in 1906.
Split into simpler sentences: In 1948, the firm embarked on its first overseas engagement. The first step taken to achieve this end was to work out a merger with Henry Hunter Bayne & Co. (HHB), a firm which started its practice in the country in 1906.