IVAS-IVSC Business Valuation Conference 2024

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
Council Chairperson, Institute of Valuers and Appraisers, Singapore
Partner, Co-Head, Mergers & Acquisitions and Valuation Leader, PwC Singapore

09.10 AM – 09.15 AM

Welcome Remarks by IVSC

Mrs Lim Hwee Hua
Chair, Board of Trustees, International Valuation Standards Council

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
Asia Director & Technical Director of Business Valuation & Intangible Assets Board, International Valuation Standards Council

 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
Minister in the Prime Minister’s Office
Second Minister for Finance and National Development

10.30 AM – 10.45 AM

Keynote Address:

Managing Techno-Nationalism

Dr Taimur Baig
Managing Director and Chief Economist Group Research, DBS Bank

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
Director, Sustainable and Green Finance Institute (SGFIN), NUS Dean’s Chair and Associate Professor of Finance, NUS Business School

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
Partner, Valuation & Modelling, Deloitte Southeast Asia

Panellists

Mr David Alfred
Director and Co-Head, Data Protection, Privacy & Cybersecurity, Drew & Napier LLC

Mr Jordan Dea-Mattson
Managing Director, Dea-Mattson Ventures

Mr Paul Chew
Head of Research, Phillip Securities Research Pte Ltd

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

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
Council Chairperson, Institute of Valuers and Appraisers, Singapore
Partner, Co-Head, Mergers & Acquisitions and Valuation Leader, PwC Singapore

Panellists

Mrs Lim Hwee Hua
Chair, Board of Trustees, International Valuation Standards Council

Mr Daren Tang
Director General, World Intellectual Property Organization (WIPO)

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
Council Member, Institute of Valuers and Appraisers, Singapore
Managing Director, Valuation Services Kroll Singapore

Panellists

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

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
Chief Executive Officer, ZICO Capital Pte Ltd

Panellists

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

05.30 PM

For Holders of Conference Pass [Physical]

Closing Reception