Advancing Business Valuation Excellence Through Regional Expansion, Industry Guidelines and Professional Recognition

Singapore, 27 August 2025 – The Institute of Valuers and Appraisers, Singapore (IVAS) today announced several key initiatives at the IVAS-IVSC Business Valuation Conference 2025 to advance business valuation through regionalisation efforts, strengthening international collaboration on valuation guidelines and greater recognition of the Chartered Valuer and Appraiser (CVA) programme.

Regional Expansion of CVA Programme Through New Training Partners

2. To establish the CVA programme as the leading qualification for business valuation professionals in Asia, IVAS today signed two Memorandums of Understanding (MOU) with the Singapore Management University (SMU) and London School of Business and Finance (LSBF) for these institutions to provide training support for the CVA programme across five different markets in the region. 

3. SMU will be the training provider for the CVA programme in Singapore, Indonesia and Thailand, whilst LSBF will deliver the training for the programme in Malaysia and India. Implementation will be phased progressively across the different markets from 2026, with SMU commencing intake for the CVA Programme in Singapore from January 2026. These partnerships will broaden access to high-quality training and deepen in-market support for the CVA programme to aspiring valuation professionals across the region. 

4. The MOUs were signed at the IVAS-IVSC Business Valuation Conference 2025, witnessed by Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance and National Development. 

Advancing Standards on Intangible Assets Valuation Through International Collaboration

5. To further advance professional standards, IVAS is collaborating with the American Society of Appraisers (ASA), Chartered Business Valuators (CBV) Institute, and Royal Institution of Chartered Surveyors (RICS) to develop comprehensive Intangible Assets Valuation Guidelines. These new guidelines will assist business valuation professionals when they undertake valuation exercises involving intangible assets, enhancing the reliability of their valuation reports to support the recognition and commercialisation of intangible assets. The collaboration represents a significant development in setting common professional practice standards for intangible assets in Singapore and other major jurisdictions such as the US, Canada and UK. This initiative builds on the successful collaboration that IVAS had with ASA, CBV Institute and RICS on the ESG Guidance for Business Valuation Professionals released in July 2025 . 

6. The development of these guidelines comes at a critical time, as highlighted in a new joint publication by the Intellectual Property Office of Singapore (IPOS) and the International Valuation Standards Council (IVSC) titled "Intangible Assets in ASEAN Capital Markets". The report, developed with J.S. Held and the National University of Singapore, reveals the growing significance of intangible assets in ASEAN capital markets and underscores the need for standardised valuation approaches.

7. Industry stakeholders may participate in this international initiative by providing their views on the Intangible Assets Valuation Guidelines, which is currently undergoing public consultation. Feedback can be submitted on ACRA’s website until 12 September 2025.

Elevating Recognition of the CVA Programme through the Conferment of IVAS Honorary Designation to Senior Financial Services Professionals

8. The conference also marked a milestone with the conferment of the IVAS Honorary designation (i.e. the IVAS (Hon) title) to ten senior financial services professionals from DBS, OCBC and UOB, recognising their industry leadership and business valuation expertise in the banking sector. "As IVAS Honorary members, these distinguished professionals who have helped shape Singapore’s financial services sector will serve as industry ambassadors and supporters of the CVA programme to promote the importance of professional certification and high standards in business valuation. They will also serve as role models to advocate for business valuation excellence within their organisations and across the financial services sector”, said Mr Lie Kok Keong, IVAS Council Chairman. Nominees were selected based on significant leadership experience and professional excellence demonstrated in the financial services industry. They are: 
   1. Mr David Cheng – Managing Director and Head, Corporate Finance, OCBC
   2. Mr Tan Teck Lun – Managing Director, Head of Mergers & Acquisition/Advisory, OCBC
   3. Mr Lin Hanwei – Managing Director and Head, Singapore Coverage – Corporate Finance, OCBC
   4. Mr Choe Tse Wei – Managing Director, Strategic Advisory, Institutional Banking Group, DBS
   5. Mr Law Seng Keat – Executive Director, Strategic Advisory, Institutional Banking Group, DBS
   6. Mr Paul Cheng – Managing Director, Corporate Development and Investor Relations, Group Finance, DBS
   7. Mr Han Kwang – Executive Director, Corporate Development and Investor Relations, Group Finance, DBS
   8. Mr Goh Yu Min – Managing Director and Head, Group Corporate Investments & Acquisitions, Group Finance and Corporate Services, UOB
   9. Mr Chew Chee Keong – Managing Director & Head, Market Risk & Product Control, UOB
   10. Ms Elizabeth Lin – Managing Director & Head, Corporate Finance & Advisory, Group Investment Banking, UOB

IVAS-IVSC Business Valuation Conference 2025

9. Under the theme "From Insight to Impact: Bridging Valuation and Corporate Strategy", the annual IVAS-IVSC Business Valuation Conference 2025 brought together close to 1,000 business valuation professionals, entrepreneurs, corporate leaders, and industry stakeholders to discuss advances in valuation practices and their impact on business decision-making. This marks the ninth year of successful collaboration between both organisations. For the second year running, the Conference was held alongside IP Week 2025, organised by IPOS. The conference explored how businesses can strategically leverage valuation to unlock untapped potential, optimise resource allocation, enhance decision-making, and drive sustainable growth and competitive advantage.

Annex

IVAS (Honorary) Members

"After three decades in investment banking across Asia, this IVAS Honorary designation reflects the maturity and sophistication of Singapore's valuation practices. It's a recognition of how far our financial sector has come in developing deep valuation expertise."

Mr David Cheng
Managing Director and Head, Corporate Finance, OCBC

"Having led numerous cross-border transactions throughout my career, I've seen how strong valuation capabilities are essential for successful deal-making. This IVAS Honorary designation acknowledges the importance of maintaining high professional standards in business valuation."

Mr Tan Teck Lun
Managing Director, Head of Mergers & Acquisition/Advisory, OCBC

"The IVAS Honorary designation is a milestone that recognises the depth of valuation expertise in Singapore's financial sector. It reflects our market's commitment to maintaining high professional standards in business valuation."

Mr Lin Han Wei
Managing Director and Head, Singapore Coverage – Corporate Finance, OCBC

“The body of knowledge embodied in the CVA qualification provides a practical foundation for investment banking work. Upon that foundation, professionals should seek to accumulate experience derived from negotiations, transaction structuring and deal tactics.” 

Mr Choe Tse Wei
Managing Director, Strategic Advisory, Institutional Banking Group, DBS

"Receiving the IVAS Honorary designation alongside respected industry colleagues is a recognition of our collective experience in complex valuations.  It underscores the growing sophistication of Singapore's financial sector in business valuation."

Mr Law Seng Keat
Executive Director, Strategic Advisory, Institutional Banking Group, DBS

“When making strategic investments, it's crucial to rely on professionals with strong valuation credentials. The CVA designation guarantees the technical rigor needed for well-informed decisions, making this IVAS Honorary recognition particularly significant.” 

Mr Paul Cheng
Managing Director, Corporate Development and Investor Relations, Group Finance, DBS

"This IVAS Honorary designation reflects the growing sophistication of business valuation practices in corporate development. It acknowledges the critical role that robust valuation expertise plays in strategic decision-making."

Mr Han Kwang
Executive Director, Corporate Development and Investor Relations, Group Finance, DBS

"In an increasingly complex business environment — compounded by extreme market volatility, the rise of digital asset classes, and inconsistent financial reporting standards, businesses need professionals who can strike a fine balance between valuation fundamentals and pragmatic deal-making. That’s the unique value a Chartered Valuer and Appraiser Certified Valuation Analyst (CVA) brings to the table."

Mr Goh Yu Min
Managing Director and Head, Group Corporate Investments & Acquisitions, Group Finance and Corporate Services, UOB

"Risk management is a cornerstone of business strategy. In a fast-changing environment, it’s essential for businesses to maintain financial soundness and protect stakeholder interests, while actively pursuing value-creating opportunities. The CVA designation sets a clear benchmark of expertise, and this IVAS Honorary recognition underscores the importance of professional certification in navigating today’s complex financial landscape."

Mr Chew Chee Keong
Managing Director & Head, Market Risk & Product Control, UOB

"Mergers and acquisitions play a critical role in shaping business growth and transformation. In this space, excellence comes from a combination of hands-on experience and a commitment to professional standards. Both practical insight and formal certification — like the CVA designation — can contribute to better outcomes. This IVAS recognition reflects our industry’s dedication to maintaining high standards."

Ms Elizabeth Lin
Managing Director & Head, Corporate Finance & Advisory, Group Investment Banking, UOB