What we value
- Shares and businesses. Private companies, majority and minority stakes, for sales, buy-outs, exits and succession.
- Fundraising. Share value for funding rounds, convertible notes and SAFEs.
- Employee share option plans. Value at grant and at each update.
- Financial reporting. Goodwill impairment tests, purchase price allocation and intangible assets such as customer relationships, brands and technology.
- Tax and restructuring. Share transfers inside a group and reorganisations.
- Disputes and estate planning. A reasoned value that both sides can read.
We do not value land and buildings. For property, use a qualified property valuer. We value the business that owns the property.
How we work
We follow the International Valuation Standards. We pick the income, market or asset approach, or a mix, based on your purpose and your information. We show the numbers behind the answer, so a reader can follow each step.
- Scope. You tell us what you value, why, and for whom. We reply with the scope we recommend.
- Agreement. We agree scope, timing and fee in writing before we start.
- Information. You send financial statements, forecasts, agreements and details of the deal.
- Analysis. We test the numbers, build the model and ask you questions.
- Report. You receive a report with exhibits, and we walk you through it.
When you need a valuation
| Situation | What the valuation does |
|---|---|
| You raise funds | Supports the share price you offer to investors. |
| You grant share options | Sets the value of the options and the share price behind them. |
| You buy or sell shares | Gives both sides a reasoned price. |
| You acquire a business | Splits the price between goodwill and identified assets for your accounts. |
| Your year end approaches | Supports the goodwill impairment test your auditor reviews. |
| A shareholder leaves | Sets a value for the exit and records how you got there. |
Repeat valuations start from a finished model
Many valuations repeat each year, for example option plans and impairment tests. We keep your model and update it. The second year starts from a finished model, not a blank page.
Who prepares your report
Henry Chow is a Public Accountant and an Associate Chartered Valuer and Appraiser (ACVA), awarded by the Institute of Valuers and Appraisers, Singapore (IVAS). He follows the IVAS Code of Ethical Principles for Professional Valuers.
Independence comes first. Before we accept valuation work for a company we audit, we check the ethics rules for public accountants. If the rules do not allow it, we tell you and suggest another valuer. A valuation applies to its stated purpose and date only. It rests on the information you give us.
Common questions
What do you need from me?
Recent financial statements, management accounts, forecasts, the shareholder agreement and a note of why you need the valuation. We send a checklist after the first call.
How long does it take?
Timing depends on the purpose and how fast we receive your information. We give a timeline when we agree the scope.
Will my auditor, investor or the tax authority accept the report?
Tell us who will read the report. We write it for that reader and use the approach they expect. We do not control how another party uses it.
Do you value property?
No. We value businesses, shares and intangible assets.
Do I need to use your other services?
No. You can use valuation on its own.