Business valuation in Singapore, signed by a Chartered Valuer and Appraiser

Start with the reason, not the method

Almost every valuation question that reaches us starts life as something else: an auditor’s query, a term sheet, a stamp duty assessment, a board paper, a letter from opposing counsel. The purpose decides the standard of value, the valuation date, the level of documentation and — frankly — the cost. Identify it first and the rest of the engagement becomes straightforward.

If none of these fit, describe the situation in plain language when you submit an enquiry. Scoping the purpose correctly is part of the job, and it costs nothing at the enquiry stage.

What we value

• Enterprise & equityBusiness valuation and transactionsM&A pricing, IPO support, SGX circulars, joint ventures, restructuring, shareholder buy-ins and exits.
• Audit supportValuation for financial reportingPurchase price allocation, goodwill and asset impairment, intangibles, portfolio fair value, expected credit loss.
• Share-based paymentEmployee share options and awardsESOP and ESOW grant-date fair value, option pricing models, vesting conditions, annual disclosure support.
• Growth companiesStartup and fundraising valuationPre-money and post-money analysis, equity waterfalls, ordinary versus preferred allocation, investor and auditor reporting.
• Fair valueFinancial instruments and derivativesConvertible notes and bonds, preference shares, warrants, FCN and structured notes, earn-outs, embedded derivatives.
• Tangible & digitalProperty, plant, equipment and digital assetsInvestment property, machinery and equipment, mining projects, biological assets, crypto and tokenised assets.
• Defensible evidenceTax, transfer pricing and disputesShare transfer values for IRAS stamp duty, restructuring, transfer pricing, shareholder disputes, expert witness work.
• Reference guideSingapore valuation requirementsWho sets the rules, which standard applies where, and what ACRA, SGX, IRAS and your auditor expect to see.

Why an independent valuer, and why this one

Independence is the product

A management-prepared number and an independent opinion are not interchangeable. Auditors apply heightened scepticism to fair value estimates prepared inside the company, and regulators expect valuations attached to public disclosures to come from a qualified party with no stake in the outcome. The value of an external report lies precisely in the fact that we have nothing to gain from the answer.

Signed by people whose names are on the line

Every report is signed by a senior valuer holding one or more of CVA (Singapore), CFA, CPA, ABV from the AICPA, FRM or MRICS. Business valuation is not a licensed activity in Singapore, which means the credential behind the signature carries real weight when a report is challenged. The CVA designation, administered by the Institute of Valuers and Appraisers, Singapore under ACRA, is Asia’s first business valuation certification benchmarked against International Valuation Standards.

Built to be reviewed

Our reports are written on the assumption that a reviewer will pull them apart: assumptions sourced and dated, discount rate build-up shown line by line, sensitivities disclosed, and the model itself available for auditor inspection. We work under an ISO 9001 quality system in valuation advisory, so the review path is the same on every job.

Local reporting, regional coverage

We serve Singapore-incorporated companies and Singapore-based subsidiaries of multinational groups, and we routinely value assets and subsidiaries located elsewhere in Asia-Pacific and beyond. Cross-border work is coordinated with our Hong Kong practice, so one engagement letter can cover a group with entities in several jurisdictions.

Group capability: valuation and ESG under one roof

Valtech Singapore is associated with GreenCo ESG Advisory, a specialist sustainability consultancy operating in the same market. GreenCo advises SGX-listed and private companies on sustainability reporting, IFRS S1 and IFRS S2 climate-related disclosures, greenhouse gas accounting across Scopes 1 to 3, and climate risk assessment and scenario analysis. Like Valtech, it holds ISO 9001 certification — in its case covering ESG and sustainability reporting, climate disclosure and GHG accounting advisory.

That matters to you for two practical reasons.

Public-company experience, twice over

Between the two firms, the group works with listed issuers on both sides of the annual report: the fair value measurements inside the financial statements, and the climate and sustainability disclosures sitting alongside them. Few independent firms in Singapore see both. It means the team is used to the disclosure standards, board processes and audit scrutiny that listed companies operate under — and applies the same discipline to private company work.

Where climate meets valuation

Climate-related risk is no longer a separate conversation from value. Transition and physical risks feed into cash flow forecasts, useful lives, discount rates and impairment triggers, and IFRS S2 expects a company to explain the financial effects of the risks it identifies. When a valuation assumption and a climate disclosure tell different stories about the same asset, an auditor will notice. Being able to draw on colleagues who prepare those disclosures every week makes the valuation side of that conversation faster and better grounded.

More on how this affects Singapore reporting obligations: climate-related disclosure requirements.

How an engagement runs

1. Scoping and quotation

Tell us the subject, the purpose, the valuation date and who will rely on the report. We respond with a fee quote, an information request list and a delivery date. No charge, and no obligation.

2. Information gathering

Typically financial statements, management accounts, the cap table and constitutional documents, forecasts with the assumptions behind them, and the transaction documents. Delays at this stage are the single largest cause of delivery slippage.

3. Analysis and draft

We select the approach that fits the asset and the purpose — income, market or cost — and usually cross-check with a second method. A draft goes to you for factual review before anything is finalised.

4. Sign-off and auditor liaison

The final report is signed by the responsible valuer. Where the report supports an audit, we deal with the auditor’s valuation specialists directly, which is usually faster than relaying questions through finance.

Insights and case references

This lightweight site is a fast reference for buyers evaluating a valuation provider. Our published case work, sector notes and technical articles sit on the main website:

• Singapore market case references
• Business valuation case notes
• Purchase price allocation assessments
• Financial instruments case notes
• Valtech insights

Frequently asked questions