Deals closed, reports accepted, disputes decided. In the words of the people who signed off.
Owners, boards, finance leaders, judges and regulators on the work VALLARIS™ did, and what the buyer, the auditor, the exchange or the court did next.
“SGX approved the valuation report without any amendments … This was instrumental in successfully completing our deal.”
Three institutions tested the work. Each one accepted it.
SGX approved the valuation report without any amendments.
Greenbuild Technology’s valuation, in the words of Mr. Li Mingyang, Executive Director and Chairman, Greenbuild Technology Limited.
HKSE accepted the fairness opinion.
Republic Healthcare’s listing went on to raise HKD 46.5M.
Forensic-accounting evidence preferred, and affirmed on appeal.
[2020] SGHC 159 and [2022] SGCA 47. Read the judges’ words →
The deal itself. Valued, negotiated and closed.
A first sale, closed with a listed buyer.
The owners had never sold a business. VALLARIS™ valued it to set the market value and reserve price, then structured and negotiated the sale to Rowsley Limited.
“I endorse Siong Yoong if you desire a top shelf mergers and acquisitions adviser!”
A cross-border acquisition in Singapore and Indonesia.
Starkey, one of the world’s largest hearing-aid makers, came on its American accountants’ referral. The team anticipated the key transaction issues and won every party’s buy-in before proceeding.
“Outstanding engagement experience despite the cultural diversity.”
Seven buyout targets across three continents.
A management buyout for an international life-insurance broker, on its Big4 auditor’s referral. Every stakeholder agreed the key issues at the first meeting and stayed clear on their roles to the end.
“We recommend Siong Yoong to work with you on your current and future projects!”
A first government project-finance tender.
VALLARIS™ designed the bid layout, built the financial model behind it and coached the team on tender clarifications. The bid qualified for discussions.
“We work with many consultants, and I can say that VALLARIS™ is up there with the best!”
The number behind the deal. Signed, and accepted by whoever checks it.
A board’s investment in a new medical treatment.
The target held proprietary treatments that help wheelchair users walk again. VALLARIS™ tested the business model and tied the clinical research to the forecast. The board acquired the target.
“I look forward to working with VALLARIS™ on future M&A deals!”
A Hong Kong listing that raised HKD 46.5M.
The exchange asked whether the royalty rates in the IPO documents were market rates. VALLARIS™ valued the trade name and trademarks against comparable franchise agreements worldwide, and the Hong Kong Stock Exchange accepted the fairness opinion.
“Siong Yoong and the team have been invaluable partners.”
A regulator’s query, answered in three weeks.
The regulator asked whether the company had paid market value for an acquisition. VALLARIS™ tested the deal rationale and forecast, prepared the team for the agency’s interview, and the report satisfied the regulator on time.
“I would recommend Siong Yoong for future projects with high confidence!”
A free app, valued for the audit.
The acquired business ran a global messaging app its users paid nothing for. The team interviewed the sales and operations teams overseas, identified the acquired user base as an intangible asset, and the auditors accepted it.
“It is the type of customer service that helps us take our business to a different level!”
Impairment testing, ready before the auditors asked.
The auditors asked for independent impairment testing on the group’s acquisitions. The team worked weekends to meet the deadline, and the report answered the auditors’ questions in advance.
“Please give Siong Yoong a call if you desire Deal Advisory advice you can depend on!”
Due diligence on a German target, reported the same week.
VALLARIS™ scoped the diligence around the buyer’s deal objectives and embedded a German-speaking colleague in the team. The draft report was presented the same week as fieldwork.
“Delivered high quality work to a tight timeline and was agile in execution.”
The judges and the regulator, in their own words. Every line is from a published judgment or a signed letter.
Forensic accounting, a partnership dispute.
“There was nothing new adduced from Mun during his cross-examination that altered what was stated in Mun’s report.”
“…the court is of the view that’s (sic) Mun testimony and expert reports are to be preferred. Mun offered a more objective and balanced analysis…”
The same matter, on appeal.
“We agree with the Judge that Mun’s evidence should be preferred. Mun’s evidence was more credible and objective, and the conclusions he reached were well-reasoned and supported by the evidence.”
Chartered Valuer and Appraiser, in good standing.
“Mr. Mun Siong Yoong … was conferred the Chartered Valuer and Appraisers (CVA) designation in 2017 for his extensive industry experience in the field of Business Valuation (BV).”
The letter confirms he is a member of the IVAS Standards and Technical Working Group, which assists ACRA and SGX RegCo on complex valuation issues.
