
Asia Pacific’s leading Business Valuation conference is back to examine and discuss “Valuation in the Future Economy”. This year, the conference brings together a strong line-up of experts to discuss and share the impact of emerging technologies on the valuation profession, what investors look out for in valuing companies, the valuation of Initial Coin Offerings and more.
Join us to gain first-hand insights on the latest industry and developments and connect with key thought leaders, policy makers, business leaders, lawyers and fellow Business Valuation professionals.
Programme
Time | Programme |
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8.00am – 8.45am
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Registration
Level 3, Heliconia Ballroom
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8.45am – 8.55am
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Welcome Address by Mr Harsha Basnayake, CVA Chairman, Institute of Valuers and Appraisers, Singapore |
8.55am – 9.05am
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Welcome Remarks by Sir David Tweedie
Chairman, Board of Trustees
International Valuation Standards Council
|
9.05am – 9.50am
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The New Paradigm of Value Creation
Business begins with value creation. Conventional wisdom shows that the purpose of the institution is to create and deliver value in an efficient enough way that it will generate profit after cost. Because value creation is the starting point for all businesses, successful or not, it’s a fundamental goal. This segment will address the evolution of the “Value Creation” definition and thinking in the current times. It will also discuss if and how value can be created by viewing business models from a different perspective.
Moderator: Mr Amitava Guharoy
Panellists: Mr Chris de Lavigne
Mr Chris Wong
Mr Daniel Lin Wei
Mr Richard Skinner |
9.50am – 10.20am
|
Tea Break (Hibiscus Ballroom, Level 3)
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10.20am - 10.50am
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Rethinking Valuations in Dynamic Business Cycles Changes in accounting and tax regulations, coupled with increased market volatility, shorter business cycles, have disrupted valuations in a short span of time, thus increasing corporate exposure to valuation risk in the recent years. This has made the role of valuers, business owners, executives and board of directors more challenging. This session aims to discuss how valuations have been changing due to such market dynamics as well as regulatory factors and if there are strategies that can help mitigate such risks. Presenter: Ms Srividya Gopalakrishnan, CVA |
10.50am - 11.50am
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What Equity Investors Really Want For many companies, particularly start-ups and growth-stage businesses, the ability to secure financing is critical in ensuring that business operations can go on smoothly. The ability to attract interest from equity investors then becomes a cornerstone in its growth plans. This segment will seek the views of equity investors to find out what are the key factors they look out for when making investments in start-ups and growth companies, what is their “market participant” view of valuations, risk-return expectation in the current times and how they create value for their stakeholders as well as portfolio companies. Moderator: Mr Cheng Soon Keong, CVA
Director, BDO Advisory Pte. Ltd
Panellists: Mr Eugene Lai
Ms Jaelle Ang
Ms Rachel Lim
Ms Jane Leong |
11.50am – 12.20pm
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Discount Rates, IRRs and Hurdle Rates: Are They Useful in Transactions? Terms such as "discount rate”, “internal rate of return” and “hurdle rate” are jargons that are often used when analysing transactions. However, this can sometimes result in more confusion rather than clarity. It should be noted that a high discount rate/ internal rate of return/ hurdle rate might not necessarily be good for a transaction. This segment will examine the differences and similarities between "discount rate”, “internal rate of return” and “hurdle rate”. Presenter: Mr Andrew Ooi, CVA |
12.20pm - 1.20pm
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Networking Lunch (Hibiscus Ballroom, Level 3)
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1.20pm – 1.50pm
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Growing Inorganically – What Companies Need to be Mindful of in Cross-Border M&As Cross-border transactions are often structured differently to domestic transactions. Very often, instead of acquiring a company on its merits, the buyer is buying access to a new market and the growth that market promises. In many cases, accurate data on the target company may not be readily available. The level of due diligence possible could differ from market to market and so could be the industry dynamics, accounting standards and local regulations. This segment addresses the potential pitfalls that companies need to look out in cross-border transactions and possible ways in which they can circumvent them. Interviewee: Mr Vivek Chhabra
Interviewer: Mr Vishal Sharma, CVA |
1.50pm – 2.50pm
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Financial Tool: Using Financial Instruments to Structure Deals Many companies are keen to invest and expand. Yet the finance required, coupled with the long-term nature of such investments can make it challenging. However, there are multiple financial solutions that exist that can help companies overcome these obstacles. Yet to be effective, there needs to be an understanding of the purpose and limitations of these financial instruments. This segment examines how financial instruments can help address the inherent risks to companies in situations that might otherwise seem too costly and/or too risky, while also addressing how they should be utilised. Presenter: Mr Mun Siong Yoong, CVA
Moderator: Ms Carmen Lee, CVA
Panellists: Mr Chiam Tao Koon
Mr Ding Hock Chai, CVA
Mr Mun Siong Yoong, CVA |
2.50pm – 3.35pm
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Role of Independent Directors in Transactions & Financial Reporting The Code of Corporate Governance (“Code”) recommends that there should be a strong and independent element on the Board, which is able to exercise objective judgement on corporate affairs independently, in particular, from Management. Indeed, Independent Directors have an increasingly important role to play in ensuring that the assumptions and calculations used in valuations by management and experts during transactions and financial reporting are appropriate and reasonable. This segment will discuss the role that Independent Directors play when undertaking their fiduciary duties, regulator’s views on such duties and recent development in valuation standards eco-system. Moderator: Mr Sajjad Akhtar, CVA
Panellists: Sir David Tweedie
Mr Chaly Mah Ms June Sim
Mr Ramlee Buang |
3.35pm – 4.05pm
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Tea Break (Hibiscus Ballroom, Level 3)
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4.05pm – 4.35pm
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Delivering New Economy Value Proposition in an Old Economy Business Many “old economy” businesses are starting to adapt their operations to meet the challenge of the “new economy” in order to expand their market and footprint. Success means not only delivering better goods/ services than competitors or about solving customers' problems, but about creating value to customers in unconventional ways. A differentiation strategy based on service enhancement and use of technology can offer businesses a route to sustainable competitive advantage as an alternative to trying to compete on price alone. The segment will provide insights on how businesses can deliver value proposition for competitive advantage in the new economy. Interviewee: Mr Steve Melhuish Interviewer: Mr Harsha Basnayake, CVA |
4.35pm – 5.05pm
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Investing in Intellectual Property Intellectual property (IP) represents an important financial and legal asset for companies. It is often estimated that intangible assets (which includes intellectual property) accounts for more than 80% of company’s value. As an asset class, IP has no limit on its value and it can be leveraged in many different ways. For investors, companies with solid IP portfolio are attractive investment targets. This segment will address what investors look for when assessing the IP portfolio of companies when making their investment decision. Presenter: Mr Tan Shau En |
5.05pm – 6.00pm
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Should Initial Coin Offerings Be Valued? Initial Coin Offerings (ICOs) have become an increasingly common fund raising tool where entrepreneurs issue crypto tokens and commit to accept only those tokens as payment for future use of a digital platform to fund venture start-up costs. The ICO mechanism allows entrepreneurs to generate buyer competition for the token, which, by revealing key aspects of consumer demand, may increase entrepreneurial returns beyond what can be achieved through traditional equity financing. A lack of transparency in how ICOs are valued, however, can undermine the trust in the use of tokens and increase inflexibility in future capital raising. This segment will look at how ICOs are valued and the potential pitfalls that can undermine the use of ICOs as fund raising tools. Presenter: Mr Henri Arslanian
Moderator: Mr Terence Ang, CVA
Panellists: Mr Dorjee Sun
CEO Perlin.net Mr Henri Arslanian
FinTech & Crypto Leader, Asia PwC Mr Lau Kin-Wai
CEO & Director Fatfish Internet Group Mr Ong Sin Wei
Partner WongPartnership LLP |
6.00pm – 8.00pm
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Networking Cocktail Venue: Level 3, Heliconia Bayview Foyer |
Speakers
Mr Harsha Basnayake, CVA |
Sir David Tweedie |
Mr Chaly Mah |
Mr Amitava Guharoy |
Mr Chris de Lavigne |
Mr Chris Wong |
Mr Daniel Lin Wei |
Mr Richard Skinner |
Ms Srividya Gopalakrishnan, CVA |
Mr Cheng Soon Keong, CVA |
Mr Eugene Lai |
Ms Rachel Lim |
Ms Jaelle Ang |
Mr Andrew Ooi, CVA |
Mr Vivek Chhabra |
Mr Vishal Sharma, CVA |
Mr Mun Siong Yoong, CVA |
Ms Carmen Lee, CVA |
Mr Chiam Tao Koon |
Mr Ding Hock Chai |
Mr Sajjad Akhtar, CVA |
Ms June Sim |
Mr Ramlee Buang |
Mr Steve Melhuish |
Mr Tan Shau En |
Mr Henri Arslanian |
Mr Terence Ang, CVA |
Mr Dorjee Sun |
Mr Lau Kin-Wai |
Mr Ong Sin Wei |