Seeking growth amidst macroeconomic uncertainties and fast changing market dynamics remains a pressing concern for businesses. These conditions, coupled with increasing investor demand to embrace environmental, social, and governance (ESG) principles and the rise of artificial intelligence that is disrupting traditional operating models, means that businesses need to transform and find ways to leverage their intangible assets to create innovative value propositions and bolster long-term business value.
Jointly organised by the Institute of Valuers and Appraisers, Singapore (IVAS) and the International Valuation Standards Council (IVSC), this year's conference will be presented in partnership with the Intellectual Property Office of Singapore (IPOS), and its IP Week @ SG 2024. Join us to gain first-hand insights and connect with Business Valuation thought leaders, policy makers, senior business leaders, lawyers, and fellow Business Valuation professionals.
Programme
28 AUGUST 2024 (WEDNESDAY) - MORNING SESSION | |
TIME (SGT) | AGENDA |
08.00 AM – 09.00 AM
08.45 AM – 09.00 AM | REGISTRATION For Holders of Conference Pass [PHYSICAL] Venue: Jasmine Ballroom, Level 3, Marina Bay Sands Expo and Convention Centre For Holders of Conference Pass [VIRTUAL] Log in: Conference Microsite |
09.05 AM – 09.10 AM | Welcome Remarks by IVAS Mr Lie Kok Keong, CVA |
09.10 AM – 09.15 AM | Welcome Remarks by IVSC Mrs Lim Hwee Hua |
09.15 AM – 09.45 AM | Presentation: Pushing the Frontier of the Possible: Valuing Technology and Data The global and interconnected economy is rapidly evolving towards more intangible assets, accelerating the lifecycle of technology and generating vast amounts of data. This shift presents new challenges for valuations. This presentation will explore key features of technology, including understanding market structure, return dispersion, useful life, and integration with other intangibles, and analyse how data transforms into valuable knowledge and the ways it can be monetised both directly and indirectly. Additionally, how a valuation framework can be established to assess the unit economics of technology and data and their interaction with other intangible assets. This framework is highly relevant given the recently published International Valuation Standards (IVS), which will become effective in January 2025. Presenter Mr Nicolas Konialidis, CFA, CVA |
| 09.45 AM – 10.15 AM | For Holders of Conference Pass [Physical] Tea Break For Holders of Conference Pass [Virtual] Intermission |
10.15 AM – 10.30 AM | Address by Guest-of-Honour Ms Indranee Rajah |
10.30 AM – 10.45 AM | Keynote Address: Managing Techno-Nationalism Dr Taimur Baig |
10.45 AM – 11.30 AM | Presentation: Beyond the Financials: Assessing Enterprise Value with Sustainability in a Data-Scarce World In the face of mounting environmental and social pressures, sustainability is rapidly transforming the commercial and financial landscape. This presentation dives deep into the evolving landscape of sustainability factors, including Environmental, Social, and Governance (ESG) dimensions, within business practices and valuations. We will explore how a company's approach to sustainability directly impacts investment decisions and enterprise valuations. Strong sustainability performance can translate into increased enterprise value, leading to more favorable asset allocation and potentially driving long-term financial growth. However, limited data availability remains a significant obstacle. We will navigate this challenge by discussing key metrics and frameworks, and recent technological advances that can effectively assess a company's commitment to sustainability, even in a data-scarce world. Presenter Associate Professor Johan Sulaeman |
11.30 AM – 12.30 PM | Panel Discussion: Deconstructing the Future: How Tech and AI Will Change the Economy, Asset Values, and Valuations Technology is shaping the global economy and society more profoundly than ever before. Innovations in healthcare, drones, new communication devices, virtual reality, and electric cars are transforming our lives, while declining launch costs have sparked a new, highly competitive “space age.” Artificial intelligence reached a tipping point a few years ago and, with the advent of generative AI, has entered popular awareness. However, the impact of AI extends far beyond applications like ChatGPT. These economic changes have fuelled the astounding rise of several technology businesses that have become household names. Some view this as the precursor of a new era, while others consider it as “pulling forward” growth. As technology and AI transform society and the economy, they are also reshaping the way valuations are conducted. Valuations now need to incorporate extra-financial reporting, unstructured data, the input of technical specialists, emerging case law, accelerating internationalisation, and other influences. Moderator Mr Andrew Ooi, CVA Panellists Mr David Alfred Mr Jordan Dea-Mattson Mr Paul Chew |
12.30 PM – 02.00 PM | For Holders of Conference Pass [HYBRID] Lunch Venue: Hibiscus Ballroom, Level 3 For Holders of Conference Pass [VIRTUAL] Intermission |
28 AUGUST 2024 (WEDNESDAY) - AFTERNOON SESSION The afternoon session is organised in collaboration with the Intellectual Property Office of Singapore (IPOS). | |
TIME (SGT) | AGENDA |
02.00 PM – 02.45 PM | Fireside Chat: The New Value Driver: The Role of Intangible Assets in Driving the Future Economy Global corporate R&D spending has quadrupled over the last two decades to hit a record high of EUR 1.3 trillion in 2022. Businesses are increasingly prioritising investment into intangible assets over tangible assets. It has been found that companies investing more in intangible assets are associated with higher growth. The traditional notions of wealth and value are undergoing a profound shift, where intangible assets have emerged as the new engines of value creation. How do intangible assets drive innovation, competitiveness and long-term growth in the future economy? What role might international organisations have in helping economies and companies use their intangible assets for growth? This fireside chat will explore the challenges and opportunities presented by this paradigm shift. Moderator Mr Lie Kok Keong, CVA Panellists Mrs Lim Hwee Hua Mr Daren Tang |
02.45 PM – 03.45 PM | Panel Discussion: The Future Unicorn: The New World of Intangible Asset Finance In 2023, global intangible asset (IA) value stood at USD 61.9 trillion, or more than half of global GDP. The modus operandi of international finance, which places emphasis on tangible assets such as property, must evolve. With over 1,200 unicorns worldwide, most of which are driven by IA, global investment firms have been on the race to spot the next unicorn. Traditional lenders, including banks, are also catching up on IA financing. How might the international finance system evolve to support the growth of future unicorns? How should financiers, practitioners and business owners consider IA credit analysis, valuation, risk, and due diligence? This panel will discuss the new world of IA financing. Moderator Mr Ashish McLaren, CVA Panellists Ms Lally Rementilla Prof Choi Chul Mr Martin Brassell Mr Terence Koh |
03.45 PM – 04.15 PM | For Holders of Conference Pass [Physical] Tea Break For Holders of Conference Pass [Virtual] Intermission |
04.15 PM – 05.15 PM | Panel Discussion: The Right Price: Capturing the Full Value of Intangibles Seven U.S. tech behemoths, affectionately named the “Magnificent Seven”, single-handedly drive the rise and fall of the S&P 500 in recent times. They are leaders in cutting-edge technology and their market dominance reflects the substantial share of value driven by intangible assets in the modern economy. As intangible assets such as Artificial Intelligence and other frontier technology play an increasingly important role in modern value creation, the valuation ecosystem and profession need to keep pace. What would it take to achieve credible and trusted intangible asset valuation? Do we need to enhance the intangible asset information available to valuers, build intangible asset valuation guidelines, align practices across markets or others? This panel will discuss what it would take to get the price or value right for intangible assets. Moderator Mr Alex Tan, CVA Panellists Ms Ong Leyu Mr Keoy Soo Earn, CVA Mr Chris Polson Dr Stephen Ho |
| 05.30 PM | For Holders of Conference Pass [Physical] Closing Reception |
Speakers
| Guest of Honour Ms Indranee Rajah Minister in the Prime Minister's Office Second Minister for Finance and National Development |
| Keynote Speaker Dr Taimur Baig |
Speakers are listed in order of the conference programme.
| Mr Lie Kok Keong, CVA Council Chairperson, Institute of Valuers and Appraisers, Singapore Partner, Co-head, Mergers and Acquisitions and Valuation Leader, PwC Singapore |
| Mrs Lim Hwee Hua Chair, Board of Trustees, International Valuation Standards Council |
| Associate Professor Johan Sulaeman Director, Sustainable and Green Finance Institute (SGFIN), NUS Dean’s Chair and Associate Professor of Finance, NUS Business School |
| Mr Andrew Ooi, CVA Partner, Valuation & Modelling, Deloitte Southeast Asia |
| Mr David Alfred Managing Director, Dea-Mattson Ventures |
| Mr Paul Chew Head of Research, Phillip Securities Research Pte Ltd |
| Mr Daren Tang Director General, World Intellectual Property Organization (WIPO) |
| Mr Ashish McLaren, CVA Council Member, Institute of Valuers and Appraisers, Singapore Managing Director, Valuation Services Kroll Singapore |
| Ms Lally Rementilla Managing Partner, Intellectual Property-Backed Financing, BDC Capital |
| Prof Choi Chul Professor of Law, Hankuk University of Foreign Studies |
| Mr Martin Brassell CEO and Co-Founder, Inngot |
| Mr Terence Koh Managing Director, Sector Solutions Group, Group Wholesale Banking, United Overseas Bank Limited |
| Mr Alex Tan, CVA Chief Executive Officer, ZICO Capital Pte Ltd |
| Ms Ong Leyu Senior Vice President, Head of TMT, Capital Markets, Global Sales and Origination, Singapore Exchange |
| Mr Keoy Soo Earn, CVA Deloitte Private Leader & Private Equity Leader, Southeast Asia, Deloitte |
| Mr Chris Polson Chair, CBV Institute Partner, PwC Canada |
| Dr Stephen Ho Group Chief Executive Officer and Executive Director, SkyLab Holding Pte Ltd |
Partners
| Strategic Partners | · Accounting and Corporate Regulatory Authority · Intellectual Property Office of Singapore |
Professional Development Partners - Champion | · CLA Global TS · Deloitte · EY · KPMG in Singapore · PwC Singapore |
Professional Development Partners -Leader | · Baker Tilly Singapore · BDO Singapore · DBS Bank · Kroll · OCBC · RSM Singapore · UOB |
Professional Development Partners - Advocate | · Avista Group · BonVision · Foo Kon Tan LLP |
| Supporting Partners | · Association of Chartered Certified Accountants · Asia Pacific Institute of Experts · ASEAN Federation of Accountants · American Society of Appraisers · CBV Institute · CPA Australia · Institute of Singapore Chartered Accountants · Nanyang Technological University · Singapore Academy of Law · Singapore Business Federation · Singapore Exchange Limited · Singapore Institute of Directors · Singapore Venture Capital & Private Equity Association · The Association of Banks in Singapore · The Institute of Banking & Finance · The Law Society of Singapore · The Royal Institution of Chartered Surveyors |
